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Bitfinex Review – Is Bitfinex Safe, Good, Or Both?
If you’re wondering whether Bitfinex is safe, a good exchange, or both, you’ve come to the right place. You should be familiar with what you can expect from Bitfinex before you purchase cryptocurrencies. In this Bitfinex Review, you’ll learn more about this exchange’s features, customer support, and security.

What is Bitfinex?
Bitfinex is one of the oldest and most prominent cryptocurrency exchanges. While it is a very complex platform with complex features, it is a good choice for serious traders. Its decentralized infrastructure, which is supported by a proof of-stake blockchain, allows users to trade products. To trade digital currencies, users can use both a mobile and desktop application.

In addition to trading cryptocurrencies, users can borrow and deposit in fiat currencies. Bitfinex will verify that users are authorized to do this. Once verified, they will receive bank details via email.

Is it Safe?
Bitfinex is a Hong Kong cryptocurrency exchange that has been around since 2012 and is considered one of the best exchanges. It has been subject to security breaches and scandals over the years. It has been hacked twice, once in 2015 and the second time in 2016. Hackers stole more than 100 thousand bitcoins from Bitfinex, making it the most expensive heist in history. As a result, Bitfinex had to compensate users for their losses. Bitfinex is not user-friendly and accepts customers only in 52 countries. It is not available in the United States.

The security of your funds is a major concern when you are trading on an exchange. Fortunately, Bitfinex has implemented a number of measures to protect its clients from hackers and other potential threats. Bitfinex’s servers are protected with DDoS protection and real time detection of malicious traffic. To ensure security, they have implemented inline mitigation and routine internal audits.

Is it a Good Exchange
The Bitfinex exchange has gained prominence for being a secure and reliable cryptocurrency trading venue. There are many security measures, including cold storage for almost 95% of client funds. All Bitfinex data are stored on a secure server that is protected by security personnel. Bitfinex is not monitored by any regulatory bodies. It is registered in the British Virgin Islands and operates out of Hong Kong.

Bitfinex charges fees to use its services. However, fees are dependent on how much cryptocurrency you trade and whether or not you are a taker or maker. The fees for takers start at 0.2%, which is slightly higher than Coinbase’s, and for makers, the fees drop to 0%. Trading fees are not charged for large orders placed through the OTC desk.

Customer Support
The Bitfinex customer support team can be contacted via email, live chat, and social media. The Bitfinex website also includes a search box for general questions. The company is also active on Facebook, Twitter, Telegram, and Reddit. Bitfinex also offers cryptocurrency trading.

The customer support staff at Bitfinex is very responsive, which is a big plus. Their ability to quickly respond to customer queries allows them to resolve problems faster. Although the live chat service is very useful, live chat agents may try to sell Bitfinex accounts. While Bitfinex has a reputation for great customer service, they do face stiff competition in the industry.

When calling Bitfinex customer support, be sure to specify your specific issue. If your problem is with the exchange’s financial department, make sure you contact the right person at the right office. Most often, the problem is with someone in the finance department and not with the front-line support.

Trading Fees
You will need to register online before you can trade on Bitfinex. You’ll need to fill out a registration form with your name, email address, and password. Once that is complete, you’ll be able to login and start trading. You can also make a bank transfer to deposit funds into your account. Once you’ve verified your identity, you can deposit funds by selecting your currency and entering the necessary bank details.

You can expect to pay 0.1% per transaction, although fees will vary depending on the cryptocurrency. This fee applies to both deposits and withdrawals. To withdraw your funds, you will need to pay 0.1% on the transaction amount. This fee is dependent on the number of transactions you make in a month and the type of coin you’re trading.