Review on Bitfinex by lily wilson
My personal opinion on the role of bitfinex in the growth of cryptocurrencies
In recent years, high-capacity exchanges, as well as high daily trading volumes, have entered the cryptocurrency market and have played an important role in the growth of these markets in recent years, but Bitfinex exchange is already engaged in many of these famous exchanges. It worked (2012) and helped the development of these markets in the early years of Bitcoin (2009) and litecoin (2011), so I think this exchange has one of the most important roles compared to other exchanges. In the crypto world.
The features of this exchange are appropriate, (although some new exchanges have more features compared to bitfinex). But in my opinion, the same features that bitfinex exchange offers are enough for a professional trader, unless he intends to trade futures, which is not possible in this exchange. Of course margin trading is supported on bitfinex.
The simple design is such that people who are not familiar with the cryptocurrency market and have previously been active in other trading markets such as stock markets and forex, see the familiar space in bitfinex.
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Pros
- Its crucial role in the growth of cryptocurrencies
- Convenient facilities for traders
- Simple appearance and familiar workmanship for financial market participants
Cons
- Futures contract is not possible in bitfinex
