Founded in 2012, Bitfinex is a cryptocurrency exchange providing advanced services for digital currency traders and liquidity providers. Bitfinex is the world’s most advanced cryptocurrency exchange and the world’s largest exchange by volume for trading Bitcoin against the U.S. Bitfinex also facilitates the trading of many other altcoins.
At the heart of Bitfinex are central limit order books for the spot trade of digital tokens. Users can deposit, trade, and withdraw digital tokens.
Bitfinex allows qualified users to trade with up to 3.3x leverage, receiving financing with the help of our margin funding and peer-to-peer financing platform. When opening a financing position, users can manually enter a funding order to receive the desired amount of financing, at the rate and duration of their choice.
The Site is a trading environment for the spot purchase and sale of Digital Tokens.
The Site permits both unfinanced and financed transactions.
Unfinanced purchases are fully funded by trading participants through funds deposited by the participants on the Site. For example, if a trader deposits $100.00 into her account on the Site, she may then purchase $100.00 worth of bitcoins in an unfinanced transaction. Purchases and sales of bitcoins on the Site, whether in an unfinanced transaction or a financed transaction, are settled by actual delivery of the full amount of the bitcoins or other Digital Tokens by the seller to the purchaser’s account against payment in full by the purchaser to the seller’s account.
Financed transactions in Digital Tokens are permitted through the Site’s platform-enabled, peer-to-peer financing functionality.
When you want to trade on margin, funds need to be in your margin wallet (use the Wallets page to do this).To open a short position:
To open a leveraged long position, exactly the same but open a position with a buy order and close with a sell order.Initial equity is 30%. This means the USD value of the funds you hold in your Margin wallets need to be at least 30% of the USD value of the position you wish to open.So if you have 1000 USD in your margin wallet. Those 1000 USD will serve as collateral for opening margin positions up to 3.33:1. IE a margin position with a USD value up to 3333.33 USD.If you wish to use 2x leverage only, the size of your position should only be worth 2000 USD.
Bitfinex is a Hong Kong-based cryptocurrency trading platform founded in 2012 which caters mostly to more intermediate and advanced traders. The crypto market is considering this platform as one of the world’s most advanced and largest exchange by volume for trading Bitcoin against the US Dollar. There are approximately 72 market pairs linked to the four base currencies of USD, EUR, BTC, and ETH which are currently available on the site.
With this, we have prepared steps that are straightforward and easy for you to follow in buying your first Bitcoin on Bitfinex.
On the main page click the ‘Sign Up’ or ‘Open Account’ button to register.
Read through the guidelines and put a check mark on each box as a sign of your agreement. Click ‘Proceed’ to continue to the next page.
Input your preferred Username, Email address, and Password.