Review on Bitfinex by David Olayide
Will Bitfinex Make A Comeback?
Bitfinex is an exchange platform formed in 2012. Now you most probably have heard of Bitfinex and most likely for the wrong reasons. Bitfinex has had a lot of altercations regarding fraud and finances. The platform was initially and originally established as a peer to peer exchange platform for only bitcoin but has since broadened it’s scope to accept other cryptocurrencies as well.
Bitfinex suffered some of the worst financial frauds of all time when it lost a large amount of bitcoins to a hack back in 2015. When I did my research and found out all I needed to know, I had to say that this platform is not recommended for new traders or beginners. It is best used by experienced veterans or traders who know how to play the game well.
On the trading platform, depositing crypto is free and there is total support for fiat currency too. Bitfinex trading platform also accepts fiat deposits in GBP, JPY, USD, and EUR. Fiat deposits can be done through a wire transfer only. Bitfinex is known to be affiliated with Tether.
In case you’re worried about the safety of the platform, don’t worry too much because, they have been known to reimburse users should anything unfortunate happen.
Pros
- Great platform for experienced traders
- Low Fees
- Fiat support
Cons
- Not good for beginners
- Bad fraud history
