Review on Bitfinex by Viet Pham
Assessing the trading exchange with large volume of Bitfinex and its controversies
Bitfinex is one of the crypto exchanges with the largest trading volume, with consistently high trading volumes, OTC support and leveraged trading functions for professional traders. It is also suspected behind USDT dominating the market
Pros
- Large trading volume and high liquidity
- one of the platforms that supports cryptocurrency trading with fiat currencies, and supports early OTC trading
- Trading fees are quite cheap, support professional trading orders and support margin to increase profits for traders
Cons
- Bitfinex used to be hacked causing millions of dollars worth of BTC damage
- Behind the largest stable coin in the U.S. dollar market, bitfinex is suspected of market manipulation
