Bitfinex is the largest and the most advanced cryptocurrency exchange in the crypto space. In addition to that, Bitfinex is a Hong Kong-based digital currency exchange platform founded in the year 2012 by Raphael Nicolle and Giancarlo Devasini. Moreover, Bitfinex is in a beta phase. iFinex Inc operate the cryptocurrency exchange platform .(Bvi), Bitfinex is also owned by iFinex Inc. (Bvi) and on its last phase the platform is being made to operate in the supervision of fully licensed model.
The Bitfinex provides three main functions which include Bitcoin exchange, margin trading, and lending. The platform usually works the same as any other leading bitcoin exchange platform that anyone can put their offer to buy or sell bitcoin in the exchange and if the order meets with the person with the same requirements or when the order matched against the similar order, the exchange executed.
The second and important feature of Bitfinex is margin trading this feature is unique as compared to the other one and this is what which make bitfinex different from other exchange, in this feature the user is allowed to borrow funds from the lenders available in the exchange platform to trade bitcoin.
So if you make any profit with the amount you borrowed from the lender. So you can keep the profit and return the borrowed amount. Along with some interest and if a user makes a loss then it’s your responsibility to pay back the borrowed amount and the interest on that amount. The next feature which is offered by Bitfinex is lending. This is the safest trading technique available in the platform. Although, it is a slow and time taking. But it also assured that you never go on loss this feature is connected to the margin trading. Moreover, you can lend the coins to the user and easily get interest over that amount.
Bitfinex provides a very loose fee schedule so the user can get there trade done is less commission fee. The order maker fee use to vary on the bitcoin volume from 0% fee to 0.1%. It depends on the bitcoin volume but for the taker the fee is fixed with the 0.2 percent of the amount traded.
The platform offers no deposit and withdrawals fee for bitcoin. However, there are charges for international wire and ego pay.