Topic: bitfinex usd converting scam ! (Read 247 times)

Hi friends, of course I respect the opinion of you very much, they are people who have experience, what I affirm is from my own experience, in bitfinex the great movements have happened there, almost all the btc casualties operated from there, as well as the hikes of the price, this I have looked for in the statistics, and something that defends a lot this Exchange is that if you open a position with: Stop Loss and Take Profit, this in trading is the best it can offer, the case of other Exchanges Level 1 as Binance, Bittrex, Kraken, Do not have this option and you must be stuck all day in the graph, otherwise if it does not reach your Take Profit the price is returned and your profit position quickly becomes a loss and if the price is it goes against you can get up to -60.-70%, if you enter with your Stop Loss the exchange if you see what positions the traders have, they can make you jump your Stop Loss and then the price goes up, because that is the business of them in the case of a speculated r, this is not life, well I think .. The case of Bitmex is different, because they play with arbitration for a while and then adapt to the bitfinex, I also realized that at this time there is a lot of trading high frequency, and this is something that for the speculator is very difficult, because if you leave your position you can be liquidated very quickly ...
Well, I would love to have an account where I could operate in Bitfinex, although I have it but I can not operate it because they demand to have 10k in USD or the equivalent in cryptocurrencies, I see this exchange as one of the best, because you can make your trade quiet , if you study the market and you know what to do, you leave your position ready and you only have to wait, if you lose, then you assume the loss, otherwise you win! There are times that I have to operate in other exchanges where for protection I put my Stop Loss and place an alarm to catch profits, because many traders are stuck to the graph all day, and in my opinion I think that is not life, or is a life full of a lot of adrenaline and / or stress.

Bitfinex today is less of a price driver for the market than what it used to be prior to all their silly actions making sure not only traders, but also the ecosystem lost faith in that exchange. I would say that Coinbase Pro has more weight to the market in terms of pricing than Bitfinex, especially with how you know that real dollars are being traded, and not potentially unbacked Tethers.

On top of that, it's not a very good sign that an exchange has a high premium rate to it than the rest of the market due to all their problems, and the fact that they haven't managed to work out these problems isn't a positive signal either.

You should study more about Bitfinex, its relation to Cryptocapital, Quadriga, Coinapult, Cex.io and so on. Cryptomedication did good research about them on his Telegram channel. The read thread that connects them all, in short, is that they're facing withdrawal issue and nearly insolvent right now.

Hello, every time I go to do a transaction for Bitfinex, look at the cost of the operation, Bitfinex is a very good exchange, I would like to operate there, but as they put the 10k to start trading, I could not, but as a trader I I say, that Bitfinex is the number 1 exchange, all the other exchanges adjust the price that is imposed on Bitfinex, since that is where Strong Hands come in.

The normal price to withdraw fiat from Bitfinex is only 0.1%, which isn't bad at all. If you can actually manage to receive bank wires from Bitfinex and you don't need more than $1 million per month, selling there is actually profitable because of the higher prices.

Just remember the OP's experience: If you redeem USDT at Bitfinex and can't withdraw via bank wire, you'll have to swap back to USDT or buy BTC or other coins to get out. That probably means you'll lose money because Bitfinex prices are usually higher than the rest of the market.

If USDT is trading at a premium to Bitfinex, you might consider just withdrawing through Tether. If you can't receive a wire from them, at least you'll get your USDT back.

3-4% are really huge fees... sadly it's common in our ecosystem...
That's how they make toons of money at our expenses.

why used bitfinex?They have the high rate at all.It is good only iff you withdraw btc in bitfinex and take money at ATM in youre country or sell btc anyone for give you transfer bank .Got it?

due the difference in market it was not profitable at moment, if i ve done it as you said it will be a lose at similar value.

This is also on what on my mind too having the option you have mentioned.It would be more cheaper when it comes to fees. Sorry for OP's loss.

Sorry for your lost money.... This sector desperately needs some regulation.

Why didn't you exchange usdt to BTC and sold in a local turkey exchange?

Internacional transfers are more expensive and slow, you should avoid them.

Horrible exchange it is. It wouldn't even surprise me if Bitfinex artificially inflated USDT to discourage USD withdrawals. It has been a very difficult exchange to withdraw from, especially the last 6 months.

If you look at their USDT in circulation it has been the same for quite a while now, and that while it was fluctuating heavily before the price went over a dollar. This is definitely a fractional reserve exchange, and it is empty as fuck.

Sorry for your loss man.

bitfinex has always redeemed tether at 1 USDT = 1 USD. and normally, USDT is the same price as bitfinex USD.

but over the last month or so, bitfinex's prices have risen 3-4% above the rest of the market. i think this is because bitfinex raised their bank wire withdrawal fees to 3% in mid-november. the market is pricing the fees in.

i ve sent usdt to bitfinex 2 months ago thinking that they can send wire to Turkey that was possible 2 years ago, but seems like they cant send wire and they dont even say anything about it, i ask them wtf happened to my wire they said oh sorry there is a problem if you want we can give your usd in your account, fuckily said ok, because there was no option, but when they gave back my usd now i cant take them back as i put becuase this fuckboys just put usdt to usd and now converting costs %3-4 .
as a total i lost 700 usd while converting , these fuckers said usd=usdt now change this acording to their head.
stupid scammers   , will going to add their scams to this topic.