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Topic: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading - page 38. (Read 723903 times)

sr. member
Activity: 658
Merit: 282
Does anyone know what the minimum viable trading size for BTC/USD transactions is if you
trade using the Bitfinex API? Is it possible to make 0.001 BTC trades?

legendary
Activity: 2618
Merit: 1007
Even if you don't know the exact amount, more or less how much do you think is realistic per year using 30 days FRR? 15%? 20%?
Which currency? For USD my guess would be 11% +/- 3%. BTC I removed from BFX when they lost a few millions of funds and I haven't put them back as the returns there are smaller while I consider the risks to be higher.
sr. member
Activity: 658
Merit: 282
...
I use one for another exchange.
What kind of experience do you want to hear?
It works fine and is of course very safe, at least if only you have access to it.
But I fear the moment it breaks, cause you can not make a backup of it (as you can make with the Google Auth. Secret/Barcode)
If it breaks you have no other choice but writing support and proove that you are who you claim to be. And that might only work, if you are verified. (I don't know procedure of bitfinex for this)

Which exchange do you use with a U2F device?

Yes, that was my main worry as well. Let´s say you enjoy 4 years of a really secure account thanks to a YubiKey or a similar
device. Suddenly the device stops working and you have no option to retrieve it.
In the case of Facebook or a similar account this might not be a problem, but if you have substantial
money on a Bitcoin exchange, this would be a catastrophe.

Maybe, I should stick to smartphone-based 2FA.
hero member
Activity: 2576
Merit: 883
Freebitco.in Support https://bit.ly/2I9BVS2

Even if you don't know the exact amount, more or less how much do you think is realistic per year using 30 days FRR? 15%? 20%?

I've only been doing this for 3 or 4 weeks so my extrapolations may be way off. Lending BTC at FFR is about 7-8% PA and USD 12-15% PA.

The rates change dramatically depending on what the market is doing and the last couple of weeks has been a rollercoaster ride so I really need more data to really know.
legendary
Activity: 1199
Merit: 1047
Most of the time you will be waiting for your offer to be taken

Only if you set it to 2 days or so, FRR 30 days works relatively fine for me for years by now.

What has been your yearly return since you started? I remember reading you in this thread a long time ago, when I was also lending. I stopped when there was an issue and Bitfinex got a big chunk of our money and gave us some kind of tokens which I sold.
This is harder to determine than you might think, since I have also some income through the referrals from the link in my signature. They also tend to be quite spammy (10% of BFX's fees which alre 0.1% of an order or less is not a lot for each transaction). As the ref income is also lent out automatically, it is a bit hard to determine what the "pure" return would have been, since I earn interest on additional money that others probably don't have.

Last but not least, it is a bit hard to download the reports automatically (I am a customer for many years on BFX by now with a 3 digit userID...) and downloading everything at once is not really feasible either (the resulting CSV would take forever to generate and would be quite large). In general I am happy with my returns though, they are a bit on the low end against a bot that undercuts other bots maybe - but it requires less maintenance and even though "my whale" that I apparently referred seems less active lately, others have increased their activity instead. Any money I lose because I am not running and maintaining a bot is probably offset by these returns.

FRR 30d is especially nice in a generally stable/falling BTCUSD market, so currently it is not as great in catching all these small spikes when funds are running dry while BTC jumps a few 100 USD in price and everyone wants to go margin long.

Even if you don't know the exact amount, more or less how much do you think is realistic per year using 30 days FRR? 15%? 20%?
legendary
Activity: 2968
Merit: 1133
Has anybody secured their Bitfinex account using a hardware device based on the U2F standard (e.g. Yubikey)?
I´m thinking about doing just that and was hoping that someone who uses a device like this
could share his experiences.
I use one for another exchange.
What kind of experience do you want to hear?
It works fine and is of course very safe, at least if only you have access to it.
But I fear the moment it breaks, cause you can not make a backup of it (as you can make with the Google Auth. Secret/Barcode)
If it breaks you have no other choice but writing support and proove that you are who you claim to be. And that might only work, if you are verified. (I don't know procedure of bitfinex for this)
jr. member
Activity: 56
Merit: 10
cheers, thanks alot. well thats cery good to hear, I like finex!
legendary
Activity: 1045
Merit: 1157
no degradation
What you guys think will the impact be of the chinese problems/closing at the moment. Implications for finex. Where are they based now, I could't find it on a quick look at the homepage?
This is their statement regarding the "Chinese situation":
https://twitter.com/bitfinex/status/908397018728595456
jr. member
Activity: 56
Merit: 10
What you guys think will the impact be of the chinese problems/closing at the moment. Implications for finex. Where are they based now, I could't find it on a quick look at the homepage?
copper member
Activity: 2996
Merit: 2374
Has anybody secured their Bitfinex account using a hardware device based on the U2F standard (e.g. Yubikey)?
I´m thinking about doing just that and was hoping that someone who uses a device like this
could share his experiences.

Additionally, there are great lending rates available due to the current bear market
(especially for Litecoin!).
I use google authenticator which works great for me.
sr. member
Activity: 658
Merit: 282
Has anybody secured their Bitfinex account using a hardware device based on the U2F standard (e.g. Yubikey)?
I´m thinking about doing just that and was hoping that someone who uses a device like this
could share his experiences.

Additionally, there are great lending rates available due to the current bear market
(especially for Litecoin!).
sr. member
Activity: 438
Merit: 250
all exchanger china is problem
and gatecoin from hongkong problem too, bitfinex is still run
i hope bitfinex still run , although bitfinex from hongkong and china land too
legendary
Activity: 2618
Merit: 1007
Hi! How can I generate my OWN referal link with my OWN referal code? Thanks in advance!
You could just use mine. Grin
full member
Activity: 448
Merit: 103
Hi! How can I generate my OWN referal link with my OWN referal code? Thanks in advance!
sr. member
Activity: 584
Merit: 250

I can confirm that

Even API is lagging severely. I send a command, and it just times out within a minute or so. Then I send it again, and it passes through without a hitch (until the next one). It is obvious that their servers can't cope with the load when some huge market move is under way. But it's still somewhat bearable and a way better than at Poloniex where everything just freezes in similar circumstances, and you can't do anything at all
Yeah but bitfinex spam my email acc... i banned this domain Cheesy
legendary
Activity: 3514
Merit: 1280
English ⬄ Russian Translation Services
Bitfinex working as hell  Cheesy
Before i fronzen my acc  Cheesy
http://pl.tinypic.com/r/15hjrky/9

I can confirm that

Even API is lagging severely. I send a command, and it just times out within a minute or so. Then I send it again, and it passes through without a hitch (until the next one). It is obvious that their servers can't cope with the load when some huge market move is under way. But it's still somewhat bearable and a way better than at Poloniex where everything just freezes in similar circumstances, and you can't do anything at all
sr. member
Activity: 584
Merit: 250
Bitfinex working as hell  Cheesy
Before i fronzen my acc  Cheesy
http://pl.tinypic.com/r/15hjrky/9
hero member
Activity: 2576
Merit: 883
Freebitco.in Support https://bit.ly/2I9BVS2
I'm new to Bitfinex - I'm non-US citzen - is it possible to just send btc to the exchange,
sell it for USD and lend this amount of USD out for margin traders?
The way back would obviously be, buying bitcoin with usd and transfering btc back to a private wallet.

Is that possible? Or do you always have to wire usd to your funding wallet?
Thanks.


It's possible, that's what I plan to do.

It's actually much harder if you are a US resident as Bitfinex are no longer verifying accounts for new US based customers. You can do what you suggested there without any need to have your account verified so they don't really care where you are.

legendary
Activity: 1199
Merit: 1047
I'm new to Bitfinex - I'm non-US citzen - is it possible to just send btc to the exchange,
sell it for USD and lend this amount of USD out for margin traders?
The way back would obviously be, buying bitcoin with usd and transfering btc back to a private wallet.

Is that possible? Or do you always have to wire usd to your funding wallet?
Thanks.


It's possible, that's what I plan to do.
newbie
Activity: 9
Merit: 0
I'm new to Bitfinex - I'm non-US citzen - is it possible to just send btc to the exchange,
sell it for USD and lend this amount of USD out for margin traders?
The way back would obviously be, buying bitcoin with usd and transfering btc back to a private wallet.

Is that possible? Or do you always have to wire usd to your funding wallet?
Thanks.
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