Is Bitfinex a good exchange for trading? [Exchange review]

Nadin19

newbie

Activity: 2

Merit: 0

Quote from: cered on November 19, 2019, 05:38:18 AM

Well, Bitfinex is a great exchange, but quite old right now. Reliable, but not innovative. I prefer pretty new exchanges with huge potential to become powerful. Check out for example CoinDeal this is exactly what I'm talking about. It's safe and progressive in the same time. Recently, they have launched their new mobile app so you can check it.

Speaking from the perspective of a regular exchange user, Bitfinex is a good option. At the moment, I am pleased with the functionality that the exchange represents. Moreover, most other users speak well of Bitfinex. The link confirms this - https://revain.org/exchanges/bitfinex. Of course, there is a small fraction that writes negative reviews. I cann't say anything about this, since in my case there were no negative incidents with this exchange.

cered

newbie

Activity: 25

Merit: 0

Well, Bitfinex is a great exchange, but quite old right now. Reliable, but not innovative. I prefer pretty new exchanges with huge potential to become powerful. Check out for example CoinDeal this is exactly what I'm talking about. It's safe and progressive in the same time. Recently, they have launched their new mobile app so you can check it.

rose9696

member

Activity: 770

Merit: 10

https://streamies.io/

Quote from: crabby on November 04, 2019, 08:43:09 PM

Hi Everyone!

I hope you're having a great week so far. I wrote up a comprehensive review of Bitfinex where I discuss the different aspects of the exchange and provide a review.

You can find the review here:

Is Bitfinex still a good exchange for cryptocurrency trading?

Check out the review and let me know what your thoughts are about Bitfinex! I would love to hear what you think. It would be very helpful for new traders who are exploring the possibility of using Bitfinex for their exchange.

Looking forward to it!

Bitfinex has been trusted to be a qualified exchange and one of the largest exchanges in the crypto market. It has absolutely enough facilities to pay and you don't have to worry so much about it.
or if you are still worried about the previous news about the SEC accusing Bitfinex of using USDT to manipulate the market, you can look to Binance. It will definitely no longer worry you with very high volumes.

FanEagle

legendary

Activity: 2884

Merit: 1117

Quote from: Shasha80 on November 14, 2019, 03:21:34 AM

I highly recommend bitfinex exchanges for crypto trading, because one of the exchanges has real volume. I used to trade on bitfinex
often because the display is very good and the features are very easy to use. But lately this is more convenient trading in binance,
does not mean bitfinex is bad. But this is just a matter of taste, if there are traders who have never traded on bitfinex I suggest to try it.
Because it will definitely feel something different compared other trading exchanges.

Sure, bitfiniex has not really done anything that will make us to doubt them except this their issue of tether than I am not very much comfortable with which I think they are using it to manipulate the market but I cannot really judge them based on what I am not so sure of, so they still remain one of the greatest exchange till they are proven otherwise, but I will prefer to stick with binance.

Aside from the issue of hacking that happened to them the last time which they too never expected anything of such. In term of great platform and a smooth-running operation, they remain the best and they also have one of the best tokens that anyone can invest in the market for now. There are still other great exchanges like kucoin, okex and many more that tends to want to compete with bitfiniex.

danherbias07

legendary

Activity: 3318

Merit: 1133

Leading Crypto Sports Betting & Casino Platform

Trust is unlike before because of the attack that had happened.
Yes they stayed but most of their supporters left them.

I'd go with Binance if you want more volume.
Very well know and popularity is still increasing. You wont have an idle time once order is placed.

nutella_11

jr. member

Activity: 175

Merit: 1

It's really nice to hear about different exchanges, Bitfinex looks promising, but now I use CoinDeal and I don't want to change it. In my opinion, exchanges like CoinDeal or Kraken are the safest worldwide. But thanks in general, nice review. Really curious about its future.

Shasha80

sr. member

Activity: 1876

Merit: 318

I highly recommend bitfinex exchanges for crypto trading, because one of the exchanges has real volume. I used to trade on bitfinex
often because the display is very good and the features are very easy to use. But lately this is more convenient trading in binance,
does not mean bitfinex is bad. But this is just a matter of taste, if there are traders who have never traded on bitfinex I suggest to try it.
Because it will definitely feel something different compared other trading exchanges.

aardvark15

hero member

Activity: 1008

Merit: 510

Quote from: crabby on November 04, 2019, 08:43:09 PM

Hi Everyone!

I hope you're having a great week so far. I wrote up a comprehensive review of Bitfinex where I discuss the different aspects of the exchange and provide a review.

You can find the review here:

Is Bitfinex still a good exchange for cryptocurrency trading?

Check out the review and let me know what your thoughts are about Bitfinex! I would love to hear what you think. It would be very helpful for new traders who are exploring the possibility of using Bitfinex for their exchange.

Looking forward to it!

I used Bitfinex for a while about 2 years ago before they banned US customers. I thought it was a really good exchange with a user friendly platform. The reason I used them was because they were one of the few exchanges at the time that traded IOTA.

wozzek23

sr. member

Activity: 1568

Merit: 283

For a while now, I have not been hearing much about bitfiniex being discussed, and I think their hype is already going down, at first, I think it would be Binance popularity that is causing this, but that should not really be the reason why they have stopped growing, there are still other exchanges that bitfiniex came before and they are riding along with binanceexchange in hype, so that rating to me use to be something that they have before but not now again.

There is need for them to begin to work again to make the exchange popular, or else, the next thing we will hear is that they are also packing their bag to live the market just like we have some exchange that has also ride in the hype before nowhere to be found again, it was only Poloenix that wanted to try to ride on the new boat before.

ReiMomo

sr. member

Activity: 2366

Merit: 305

Duelbits - $100k Bonus/week

Quote from: MURONDI on November 05, 2019, 07:55:57 AM

bitfinex is an old exchange that has a pretty good review, but some people have problems with this exchange, if you are a small trader you can try it there, but if you have big capital you have to think about it again, my advice is you better share the capital in several exchanges.

Yes, it is. Bitfinex is known for its good exchange in trading. Nowadays, there are many trading sites appear so you have a lot to choose from but as of now Bitfinex is a great exchange for trading too so don't hesitate to trade on it. But here is my two cents advice, don't leave any big amount on wallet exchange, no one crypto exchanges are safe nowadays. Even Binance experienced hacking incidence this year and also Bitmex exchange leak the security breach I don't think there's safe as of now.

Darooghe

sr. member

Activity: 1120

Merit: 255

In my opinion everyone should avoid this exchange. Bitfinex keeps wrecking shorts and longs and manipulates the market and ruins every trader, but people still gambling with their money. this is the exchange that’s under investigation by the NYAG for committing fraud to the tune of almost a billion dollars. They literally “lost” almost a billion dollars then embezzled funds form tether (themselves) to bail themselves out. They told no one.

Their actions were made public in court and they admitted to their embezzlement, they then tried a public bailout and claim it was a resounding success despite there being no record of raising the money they claim. their scam is coming down. I highly recommend Coinbase, Binance, Yobit and Kraken for trading.

MURONDI

sr. member

Activity: 812

Merit: 257

bitfinex is an old exchange that has a pretty good review, but some people have problems with this exchange, if you are a small trader you can try it there, but if you have big capital you have to think about it again, my advice is you better share the capital in several exchanges.

zeze18

sr. member

Activity: 938

Merit: 256

For me bitfinex is one of the good old exchange which still exist and still have decent volume until now , it's recommended to trade there and i've tried several times with no regret or any errors from the exchange. Even binance is dominated the exchanges right now but bitfinex is still having a big volume

1Referee

legendary

Activity: 2170

Merit: 1427

Quote from: NathanJB on November 04, 2019, 11:26:47 PM

But the trust of traders over their platform wasn't recovered, neither was the majority of the hacked funds. This is the reason why until now, Bitfinex is not as preferred as before.

It's always a good thing to follow what the smart money on platforms is doing, and the big whales have withdrawn over 100,000BTC from Bitfinex in quite a short period of time.

Most exchange addresses can be found in the top 100 richest addresses, so when you're in doubt that whales or traders in general are withdrawing funds from an exchange, it can be noticed quickly. It's basic level research that doesn't require insider knowledge on how bad the situation is within an exchange. Everyone can look into it. You got to love Bitcoin's transparency.

In the end, an exchange getting hacked isn't directly a death sentence, but a lot will come down to how they deal with the situation and work things out. Bitfinex definitely failed in that field.

Rodeo02

hero member

Activity: 1302

Merit: 577

avatar and signature space for rent !!!

Quote from: AGroose on November 05, 2019, 02:07:34 AM

After the scandals with the teaser and this exchange, I completely withdrew all the money from this exchange. Now I trade in Binance and Huobi without verification.

As i remember all lost funds has been paid before , so i dont see that there will be another problem like that again in the future.

Honestly i never try this one but i know this is one of reputable exchange in the market right now.

bassbity

sr. member

Activity: 1092

Merit: 284

Bitfinex is a good exchange. I like to trade there, but I did not take long and the assets were always pulled back because there was a lot of hacking that happened and had experienced it.
But I have not used this exchange anymore because there is more good than Bitfinex, even though good features and security at the level, I still doubt if hacking occurs.

AGroose

jr. member

Activity: 48

Merit: 1

After the scandals with the teaser and this exchange, I completely withdrew all the money from this exchange. Now I trade in Binance and Huobi without verification.

Edraket31

hero member

Activity: 1190

Merit: 511

Recently, Bitfinex consistently ranks among top exchanges as they do have good daily trading volumes, it is based in HongKong and founded in 2012.

They do have a good ratings from traders, and their trading platform is safe and secure, but always remember, few exchanges were hacked and millions stole, so don't ever store your assets that you will not use, don't make it as your keep safer of your fund, as there are just too many hackers trying to attack exchanges.

Dart18

sr. member

Activity: 1400

Merit: 259

It is a good blog but still I do prefer Binance over it.
But to rate it, it could be in 3rd place or maybe the 4th in my list but that is just my opinion. We have different preferred exchanges here.
I guess some does look at the UI which for me Binance also gave one hell of an effort to stand out.

For trading though, the difference in volume is just small. So, I might make it there if I will have problems with the others.

crabby

member

Activity: 276

Merit: 48

Quote from: mk4 on November 04, 2019, 10:18:28 PM

You messed up the URL tag by the way. Remove the quotation marks.

Code:

[url=http://"https://blog.shrimpy.io/blog/bitfinex-exchange-review"]Is Bitfinex still a good exchange for cryptocurrency trading?[/url]

As for the article, I was expecting almost everything to be positive as to be able to promote affiliate links. A lot better than expected. 4/5

I apologize, I have fixed the link! I appreciate your feedback! Our team does not give out any affiliate links for exchanges, so the reviews are completely based on our opinions of the exchange. Please let me know if you have any questions or comments you would like to discuss!

Topic: Is Bitfinex a good exchange for trading? [Exchange review] (Read 263 times)