Bitfinex Review 2025

Eric Huffman

Verified by Ilija Rankovic

Last updated

November 25, 2025 09:17 EST

18min read

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Launched in 2012, Bitfinex is one of the oldest crypto exchanges still in operation. The platform has evolved over the years, initially offering just a handful of cryptocurrencies to what is now one of the most advanced crypto trading platforms, supporting more than 350 crypto trading markets. In this Bitfinex review, we’ll examine the platform’s features, pros and cons, and safety. We’ll also review trading types supported by Bitfinex and compare the exchange to other leading crypto trading platforms.

To complete our Bitfinex exchange review, we created a new account and then put the platform to the test with real trades. We also collected data on current safety features, funding methods, supported markets, and other criteria. Let’s get started with a comparison of the pros and cons of the Bitfinex exchange.

What Is Bitfinex?

Bitfinex is a crypto exchange owned and operated by iFinex Inc., the parent company of Tether, which operates the largest stablecoin token by market capitalization (over $170 billion). iFinex is based in the British Virgin Islands.

The Bitfinex exchange launched in 2012, solidifying its role as one of the oldest crypto exchanges in the world. Typical 24-hour trading volume exceeds $225 million, earning Bitfinex a top-40 spot based on volume for exchanges worldwide.

Bitfinex caters to advanced traders, offering multiple trading options, including spot trading, margin trades, perpetual futures trading, and over-the-counter trading (large orders). However, although the platform is best suited for experienced traders, Bitfinex does offer “paper trading” sub-accounts that allow traders of any skill level to practice futures trading or test trading strategies against real-time price movements.

Bitfinex Exchange Overview

Bitfinex operates worldwide, serving more than 180 countries. However, several key markets are not supported by the exchange, including the US, UK, and Canada. Bitfinex enforces Know Your Customer (KYC) identification verification, making geographical restrictions impossible to sidestep.

The platform supports more than 350 trading pairs, although about 250 cryptocurrencies are tradable on Bitfinex. The table below summarizes Bitfinex’s key characteristics.

Is Bitfinex Safe?

Bitfinex stores the vast majority of assets (as much as 99.5%) on the platform in cold storage using multisignature (multisig) wallets for safety. The platform enjoys an impressive security record in recent years, but has had security issues in the past.

• 2015 Hack: In a 2015 security incident, about 1,500 bitcoins were stolen from a Bitfinex hot wallet.
• 2016 Hack: In a much more widely known 2016 security breach, approximately 120,000 bitcoins were stolen from the platform. Ultimately, in a highly controversial move, Bitfinex socialized the losses, reducing every user's account balance by approximately 36%. However, Bitfinex issued BFX tokens that could later be redeemed or converted to shares in iFinex. Ultimately, the breach was attributed to a vulnerability with Bitfinex’s security provider, Bitgo.

In a separate incident, the New York Attorney General (NYAG) sued Bitfinex and Tether, alleging that Bitfinex had lost control of $850 million held by a third party (Crypto Capital). The 2019 lawsuit further alleged that Bitfinex borrowed millions from Tether to cover the shortfall and avoid insolvency. The exchange has paid significant fines to regulators, with a combined total of over $60 million paid to the New York Attorney General's office and the Commodity Futures Trading Commission (CFTC) for various violations.

User Security

Bitfinex offers several security features to secure user accounts. These include mandatory two-factor authentication (2FA), optional whitelisted addresses for withdrawals, and optional IP address whitelisting. Additionally, Bitfinex automatically flags suspicious activity.

Regulatory Status

The Bitfinex platform holds only two known licenses: a Digital Asset Service Provider (DASP) license in El Salvador and licenses under the Astana International Financial Centre (AIFC) in Kazakhstan. This limited licensure means the platform cannot provide services in several jurisdictions, including the US, the UK, and Canada.

What Coins and Trading Pairs Does Bitfinex Support?

Although Bitfinex supports trading for about 250 assets, the bulk of the trading volume gravitates to BTC and ETH, with BTC comprising about 50% of the trading volume on the platform. Leading non-stablecoin crypto assets supported are listed below, sorted by trading volume at press time.

Bitfinex Trading and Investing

As an exchange catering to advanced traders, Bitfinex offers several ways to trade crypto or earn a yield. These include traditional spot trading in addition to margin trading with up to 10x leverage. For derivatives traders, Bitfinex offers perpetual futures trading with up to 100x leverage. Traditional futures and options are available through a partner platform (Thalex).

Other platform features include staking, lending, borrowing, and a small assortment of securities available for trading. Next in our Bitfinex review, let’s discuss each of these features in more detail.

Spot and Margin Trading

Traditional spot trading on Bitfinex offers the broadest range of trading pairs, with about 250 cryptocurrencies supported. However, much of the trading volume centers around BTC and ETH. Expect comparatively lower liquidity on smaller altcoins.

Bitfinex also supports margin trading, using a peer-to-peer funding market. This structure differs from many exchanges that use their own corporate liquidity pools and creates another optional income stream for Bitfinex users. Margin leverage is capped at 10x. Traders who need higher leverage can consider derivatives trading on Bitfinex, which we’ll discuss next.

Derivatives

Bitfinex offers three ways to trade derivatives on the platform. Perpetual futures trading supports nearly 60 trading pairs. However, among these, you’ll also find tokenized versions of equity indexes, such as FRANCE40, which represents the CAC 40, the main benchmark stock market index for France. We’ll discuss these types of security-based derivatives in a later section. Other choices include forex-like perpetual swaps that pit world currencies against USDT, which is pegged to $1 USD.

The highest volume centers around BTC and ETH perps. Still, Bitfinex offers a broader range of asset types despite having a smaller overall selection of perpetual contracts compared to many crypto futures trading platforms.

Bitfinex also offers traditional futures contracts as well as crypto options trading. However, these trading types utilize a partner platform (Thalex). These Thalex-powered derivatives provide additional trading opportunities with institutional-grade execution, settle in USDT, and use BTC, ETH, or USDT as collateral.

Bitfinex Staking

The Bitfinex platform currently supports staking for six cryptocurrencies, including ETH, SOL, TRON, and DOT. Staging rewards pay up to 6.5%, with rates varying based on the staked asset and network demand. In almost all cases, staking allows for instant availability, unlike many competing platforms that often require lengthy unlocking periods. Notably, staked ETH is subject to an unlocking period that could last weeks or longer.

Users must opt into staking, but no further action is required to earn a weekly yield on eligible assets held on the exchange. Bitfinex calls this structure “soft staking,” due to its flexibility.

Securities

Another area in which Bitfinex stands apart from other platforms is in its support for tokenized securities. These tokenized assets represent fractional ownership of real-world securities, including bond funds or equity positions. For example, ALT2612 is a tokenized bond, whereas TITAN1 represents an equity-like position in a UK-based credit union.

Unlike traditional securities, tokenized securities can allow 24/7 trading, and the tokenization allows smaller investment amounts when needed. However, to trade securities on Bitfinex, users must become a member of Bitfinex Securities in addition to creating a standard exchange account. Bitfinex Securities, Ltd is regulated in El Salvador and Kazakhstan, with specific securities issued under each jurisdiction.

Notably, many securities offerings on the platform are only available to accredited investors, typically limiting access to investors with professional investing experience and $100,000 in investable assets.

Lending and Borrowing

Bitfinex’s peer-to-peer lending platform allows users to earn a yield by lending supported crypto assets or fiat deposits or borrow using specific crypto assets as collateral. This process supports margin trading and other leveraged positions on Bitfinex, with the platform automating much of the process. Bitfinex charges 15% of the earned interest for matching lenders to borrowers.

• Lenders set their own rates and the loan duration, which can range from 2 to 120 days.
• Funds allocated to lending are placed in a discrete funding wallet as they are added to the P2P loan order book. Interest accrues automatically after a borrower accesses the funds.
• When a trader opens a leveraged position, Bitfinex automatically draws capital from the order book using the lowest interest rates first.

Bitfinex also offers a separate borrowing feature that allows users to borrow fiat currencies or stablecoins using select cryptocurrencies as collateral. Bitfinex Borrow uses the same P2P market as margin funding.

OTC Trading

Over-the-counter (OTC) trades allow institutions, professionals, and traders to trade a minimum $50,000 USD in value without using the exchange order book. Bitfinex’s OTC desk matches buyers with sellers, facilitating larger transactions without affecting asset prices on the exchange. Benefits include no-fee trading for OTC and confidential transactions.

Bitfinex Fees

The Bitfinex fee schedule for spot and futures trading makes the platform competitive with Binance and other low-fee crypto exchanges. The table below outlines common fees on the platform. However, additional discounts are available based on 30-day trading volume and UNUS SED LEO (LEO) holdings.

As part of our Bitfinex review, we’ll compare Bitfinex fees and accessibility to other popular platforms in a later section.

Bitfinex Payment Methods

Bitfinex supports several payment methods to fund your account.

• Cryptocurrency Deposits: Users can deposit any of the 250+ supported cryptocurrencies. Bitfinex does not charge a fee for crypto deposits. Network fees apply, similar to sending funds to any crypto wallet address.
• Bank Wire Transfers: Users with a “Full Verified” status can deposit fiat currencies such as USD, EUR, and GBP via bank wire transfer. A 0.100% fee applies, with a minimum fee of $60/€60 per transaction.
• Credit/Debit Cards: The platform also supports credit or debit card purchases through third-party providers, Such as Mercuryo or Simplex. Each provider determines fees and spreads independently. When using this method, the third-party provider deposits the purchased cryptocurrency directly into your Bitfinex account.

Is Bitfinex User-Friendly?

Bitfinex focuses on advanced traders. While this focus brings a wide breadth of trading types and customization options, it also makes the platform more intimidating for newer traders. Generally, the web app is well designed and intuitive, assuming you’ve used advanced trading platforms before.

Bitfinex organizes its web app using subdomains, which are easy to find on the main menu of Bitfinex.com, but navigating back can be a challenge due to this structure. For example, opening a trading window brings the user to trading.bitfinex.com, with no obvious way to access other platform features, such as staking. On the other hand, this segmentation enables the platform to offer robust features for each of its offerings, particularly those related to trading activities.

The exchange also offers a mobile application for iOS and Android, which abstracts the disjointed navigation experience seen on the desktop web app. The mobile platform makes all of the platform’s features more accessible and also supports a “Lite Mode,” which focuses on trading activities.

Where Is Bitfinex Available?

The Bitfinex exchange supports traders in more than 180 countries worldwide, including many major markets like Japan, Brazil, and many parts of Europe.

However, due to regulatory restrictions, some major markets are not supported. These include the United States, the United Kingdom, and Canada. Access is also restricted in several sanctioned countries and regions, including Iran, North Korea, and Cuba.

Full access to the platform’s features depends on identity verification, which prevents users from using a VPN or similar tools to access the platform from restricted areas.

Does Bitfinex Require KYC?

Bitfinex enforces Know Your Customer (KYC) identity verification using a multi-tier system that determines which features users can access.

1. Basic Access: Users with basic access can only browse the platform. Trading is restricted, as are deposits.
2. Basic Plus: By submitting a government-issued ID, a selfie, home address, and a phone number, users unlock the core trading features. Access includes crypto deposits and withdrawals, spot trading (without margin), and OTC trading.
3. Intermediate: The intermediate KYC tier requires a second form of ID and proof of address, such as a utility bill. This KYC level unlocks additional features, including margin trading, derivatives trading, Bitfinex Borrow, and access to third-party crypto providers.
4. Full: This highest level requires a recent bank statement in addition to the requirements from lower tiers. Full access allows users to make fiat deposits, such as USD or EUR wire transfers.

This structure is more restrictive than no-KYC crypto exchanges, but similar to other leading exchanges, such as Binance.

Bitfinex Customer Support and User Reviews

As part of our Bitfinex review, we evaluated customer service options and self-help options. We also weighed user reviews on popular platforms such as Trustpilot, G2, Reddit, and similar platforms.

Bitfinex maintains a significant social media presence, including a Telegram channel, X account, and Discord channel.

However, these platforms are better used for official announcements and general information rather than account-specific support. Always beware of potential impostors and don’t share personal or account information unless using the official support channel: Bitfinex’s ticket system, which can be found in the Help Center.

Bitfinex’s help center is well-designed and provides documentation for a wealth of topics, ranging from getting started to API access for automated trading software. As a caveat, with the only support avenue being an email-based ticket system, users may experience some frustration due to wait times that could be measured in days.

This frustration shows in online discussions and user reviews of the platform. Bitfinex users give the exchange a 2 out of 5-star rating on Trustpilot, with some citing slow response time. Reddit discussions regarding the platform center on complaints about unresolved support tickets. Bitfinex reviews on G2 were more forgiving, awarding the exchange 3.8 out of 5 stars overall.

Where Can Bitfinex Exchange Improve?

Given the user feedback on review sites and discussion platforms, Bitfinex and its users would benefit from better support options. Competing platforms often have AI-assisted support bots that help users find information quickly. Some also offer 24/7 live chat support.

Availability in key markets also lags behind some competitors. While it’s common to point to regulatory challenges in markets like the US, Canada, and the UK, competitors like Kraken and Coinbase support these markets as well as most markets worldwide.

Best Bitfinex Alternatives

Depending on the type of trading features you need, alternatives like MEXC, OKX, or CoinFutures may be a better choice. Bitfinex caters to professional traders and institutions, but many traders don’t need the level of customization or additional tools offered by Bitfinex. A simpler platform or an exchange with a broader selection of cryptocurrencies may be a better fit.

The table below compares popular alternatives, ranging from simple trading platforms like CoinFutures to larger platforms like OKX and MEXC.

How to Get Started With Bitfinex

Getting started with Bitfinex is a relatively straightforward process. The exchange requires KYC identity verification to begin trading, which will be the lengthiest part of the process.

1. Create an Account

Visit Bitfinex to create a new account. Provide a valid email address, choose a username, and select a secure password.

During this step, you’ll also need to set up mandatory two-factor authentication. We used Google Authenticator to scan the QR code provided. This generates a six-digit code in the authenticator app that refreshes every 60 seconds and prevents people who do not have the authentication code from accessing your account.

2. Agree to the Terms of Service

Read the terms and conditions. If you agree, tick the box and continue to KYC.

3. Complete KYC Identity Verification

Bitfinex enables view-only mode without KYC identification verification (Basic Access). After agreeing to the terms, look for a link in the bottom left of the screen to verify your identity.

• Basic Plus verification unlocks the ability to deposit and withdraw crypto as well as trade spot and OTC markets.
• Full Access allows you to trade with margin, trade derivatives, and unlocks additional account funding methods.

4. Fund Your Trading Account

Once you’ve completed verification, deposit funds to get started. Basic Plus supports crypto deposits, whereas Intermediate and Full Access enable additional funding options through third-party providers, SEPA bank transfers (Euro only), or wire transfers. Click on the wallet icon on the top right to get started.

That’s it. You’re ready to start trading on Bitfinex.

Bitfinex Review Conclusion: Is It a Good Option in 2025?

The Bitfinex platform offers several unique features that make it more attractive than other platforms. These include peer-to-peer lending markets, securities trading for qualified accounts, and a robust suite of customization options for advanced traders.

However, the Bitfinex platform isn’t well-suited to every trading situation. A comparatively limited selection of cryptocurrencies makes it less attractive for altcoin traders, and its focus on advanced trading makes other platforms a better choice for newer traders.

There’s a proper tool for every job. If you’re an experienced or institutional trader focused on key markets supported by Bitfinex, the platform is among the best available. Deep liquidity for top assets like BTC and ETH supports smooth trading and integrated derivatives trading through Bitfinex and Thalex is unrivaled.

Our Methodology: How We Tested and Reviewed Bitfinex

To complete our Bitfinex review, we created a new account, explored the trading features on the platform, and reviewed the key security features of the platform. We also evaluated funding methods, supported cryptocurrencies, and ease of use.

Bitfinex’s focus on advanced traders shows clearly in its supported trading types and customization options for trading screens. Users can add or remove charts and data to build a trading platform all their own. The platform is a standout in this regard, but the complexity makes it less suitable for new traders.

Funding options parallel those of many competing exchanges, although KYC requirements were more restrictive for access to features like futures trading.

Mandatory 2FA on the platform left us reassured that no one else could access the account and that Bitfinex had improved its security since the earlier incidents. However, without a published proof of reserves, traders should exercise caution and withdraw to a non-custodial wallet between trades.

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Eric Huffman

Eric Huffman's background includes a decade plus in business management as well as personal finance industry experience in insurance and lending. A strong understanding of consumer finance combined with a consumer advocate stance brought Eric to the crypto industry, where he writes articles and guides aimed at making crypto easier to understand.

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