How Bitfinex ranks
Bitfinex launched in 2012 and remains operational, a distinction that fewer crypto exchanges than you might expect can claim. Its BTC/USD and ETH/USD order books carry institutional depth comparable to Kraken, and the exchange introduced peer-to-peer margin funding markets in the early years of crypto trading, a structure that remains unique among major exchanges. Traders can lend USD, BTC, or other assets to margin traders and earn interest on the outstanding loan balance, providing a passive yield mechanism not available at most competing exchanges.
Bitfinex supports margin trading up to 10x on spot pairs, with portfolio margin available for qualifying accounts. The platform's order management includes hidden orders, trailing stops, and fill-or-kill types that most retail exchanges don't offer. The API is mature and widely used by quantitative traders who have built infrastructure around Bitfinex's order book data.
Bitfinex and Tether (USDT) share common ownership through iFinex Inc. The exchange and Tether settled with the New York Attorney General in 2021 for $18.5 million, admitting to covering an $850 million shortfall with Tether reserves. This settlement, and Bitfinex's 2016 hack (72 million USD in BTC was stolen and later recovered by US authorities), are material events that prospective users should research before depositing. No compensation scheme is in place.
Bitfinex publishes proof of solvency data periodically via wallet attestations and public fund tracking. The approach is less structured than Kraken's quarterly Armanino attestations, providing some transparency but without the standardised audit methodology.
The regulatory history involving the 2021 NYAG settlement and the 2016 hack introduces counterparty risk considerations not present at Kraken or Coinbase. Not available to US residents. Verification and onboarding requirements are stricter than some peers. The platform interface, while functional, is less polished than Bybit or OKX.
Bitfinex is appropriate for experienced traders outside the US who want deep BTC/USD liquidity, advanced order types, and the P2P margin funding mechanism, and who have assessed the regulatory history as an acceptable counterparty risk given their specific situation. For traders who prioritise regulatory standing and security track record above all else, Kraken is a more straightforward choice.
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Lend your idle crypto assets to margin traders on Bitfinex and earn daily interest - rates fluctuate with market demand.
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Bitfinex is licensed by . Always verify the licence on the regulator's public register before depositing.
Bitfinex has no fixed minimum deposit - you can open a live account with any amount. In practice a balance of at least $100–$250 is recommended to provide adequate margin for standard forex pairs.
Bitfinex's trading costs vary by account type. Check the broker's website for the latest spread and commission schedule. Deposits are free on standard funding methods. No inactivity fee applies to dormant accounts.
Bitfinex supports a proprietary web and mobile platform. A mobile trading app is available for iOS and Android. Advanced charting tools are included.
Bitfinex customer support is available via email and ticket-based support during business hours. Support is provided in multiple languages.
Last reviewed:: May 14, 2026
Bitfinex's tiered fee schedule reduces maker fees progressively as your 30-day trading volume increases - reaching 0.00% at the highest tiers.
One of the oldest crypto exchanges still operating, with deep BTC/USD liquidity, advanced margin and P2P funding tools, and the parent infrastructure behind USDT. The regulatory history introduces counterparty considerations that experienced traders must weigh against the genuine liquidity advantage.
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