Review on Bitfinex by Francisco Varela
Bitfinex
The company entered the market for the first time in 2012 and since then has enjoyed constant expansion. Since 2014 Bitfinex has become one of the world's largest Bitcoin trading platforms.
Today, Bitfinex is the leading exchange for Bitcoin trading denominated in USD, with daily volumes well in excess of $ 1 billion. In addition to Bitcoin, it provides access to the world's leading alternative currencies, including Monero and Ethereum, as well as full-spec wallet services.
Pros
- The vast majority of system funds are stored in cold, offline wallets. Only about 0.5% of encryption assets are accessible in active wallets for the daily operations of the platform.
- Bitfinex has tight security measures in place to protect client funds, and around 99.5% of client funds are held in cold storage and away from the prying eyes of hackers. The platform also uses email encryption to monitor withdrawals by IP, and 2-factor authentication for logins and withdrawals.
- The system is available in three languages: English, Chinese, and Russian.
Cons
- Their clients' money has been stolen or lost in several incidents, and they have been unable to secure normal banking relationships.
