Is Bitfinex safe to trade? Know here

Bitfinex is now a leading cryptocurrency exchange platform known worldwide

About Bitfinex:

The company is based out of Hong Kong and is a popular destination for many cryptocurrency companies. It started its operations in 2012. They currently offer many of the most notable coins as well as some of the lesser known alt coins. You can find out each and every detail on their official website.  

How Bitfinex is kept safe?

Bitfinex offers cold storage where around 99.5% of user funds all stored offline. They have multi-step processing which makes it hard for any type of malware activity trying to steal your sensitive information.

Bitfinex provides protection against DDoS attacks with encrypted connections using HTTPS TLS 1.3.

IP whitelisting is also offered by bitfinex which ensures that only certain IP addresses can access the accounts. This protects your account and makes sure that there is only a single address at all times which can use a Bitfinex account. They do recommend knowing more about the technical sides of networks as it may lock out certain users who forget how to access the account.

Cryptocurrency Optionsin bitfinex:

Numerous kinds of coins are offered with the major kinds provided such as Ethereum, Litecoin, Bitcoin and Bitcoin Cash. They also provide insights into all the kinds of coins offered, where consumers can learn more about how it functions and what’s unique about it.

Limitations on Transferring:

No limits are placed on the amount which can be withdrawn or deposited. For any kinds of withdrawals, it may talk a half day period around 12 hours. They cater more to professionals who already have some sort of knowledge of trading and know about it. 

To begin trading you’d also need 1 of 3 different kinds of wallets. The currencies can also be transferred there, and there is an order form where all transactions can occur. A lot more of the specifics are mentioned in their FAQ section, which would be required reading especially if you’re new to trading.

Depending on the goal, the fees are actually low or do not exists. For trades done below the current asking market price, there is an attached maker fee. All these fees are published on their FAQ section.

Bitfinex Consumer Support

The bitfinex customer support (+1-800-509-3075) is fully dedicated, to resolving each and every type of query relating bitfinex. The customer support executives are available 24x7, to address your concerns. Bitfinex customer care centre works like a lifeline when facing troubles with it. You can contact the officials either through chat or via email. They are very supportive and desperate to help the customers in trouble.

With different exchange platform options, Bitfinex is surely created for knowledgeable professionals who want to specialize in trading. The company has a lot of information on its website which would be beneficial for newcomers into the field. Many coins are offered in bitfinex and the lower fees make it an attractive place to trade crypto. They do not offer US customers the opportunity to join though as of now.

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