Interested in cryptocurrency trading? Start your investment right and settle on the safest bet with Bitfinex, one of the most well-known cryptocurrency exchange platforms in the market today. Bitfinex is your go-to exchange to trade cryptocurrencies wherever you are in the world. The state-of-the-art trading tools of this platform coupled with the innovative technology used in their exchange will give you unparalleled customer service throughout your transaction.
It was founded in 2012, years before the crypto boom in 2017, making Bitfinex one of the first and long-standing exchange sites today. Through the years, it has established itself as a leader in the crypto trading industry with its number of services that make trading and investing easier such as access to (P2P) peer-to-peer financing and an Over the Counter (OTC) market with margin trading.
Before you start investing and trading at Bitfinex, there are a few things you need to know first. Find out more about Bitfinex exchange and its stellar features here at CryptoShimbun.
Bitfinex: Innovative features providing trading solutions
Bitfinex provides traders with 6 core features that help them make intuitive trading decisions. Take a look at each of them below:
Bitfineex has an order book that allows you to see the demand for different assets in real-time. With this window on the supply and demand, you can easily decide on which currencies you want to trade and purchase.
Moreover, Bitfinex’s order book allows you to exchange different currencies such as Bitcoin, Litecoin, Ripple, NEO and Ethereum with minimal slippage by making fast and easy transactions possible. Aside from that, the user-friendly interface of Bitfinex makes it possible for traders to navigate the exchange site with ease, making it accessible to new and experienced traders alike.
For traders looking for a way to trade with leverage, Bitfinex offers a secure way for you to trade both fiat and cryptocurrency assets with up to 10x leverage! You can use this feature to fund a wide range of cryptocurrencies at the rate and duration you prefer. As a verified user, you can enter a funding order and Bitfinex will decide whether you are a qualified candidate for margin trading. Once it is decided, you will be given the amount you need to start trading.
The P2P financing market feature of Bitfinex allows users to earn digital assets by lending funds to other traders and giving them leverage on the market. This type of exchange is considered safe since it allows you to earn without exposing yourself to trading risks in trading.
Aside from this, you can lend funds across different currencies and assets available on Bitfinex through the peer-to-peer margin funding platform. You are free to decide how much you are willing to lend and how long you will allow them to keep the assets before they are charged with interest. Moreover, you can automatically renew your offer upon expiration, eliminating the need to go through a lengthy process of funding new currencies and assets.
Bitfinex derivatives simulate the traditional hedging infrastructure in cryptocurrency exchange markets. It is only offered to verified users with a good background in trading since this type of exchange carries high risks in the cryptocurrency trading market.
Those who are eligible under the jurisdiction of Bitfinex can trade derivatives using their Tether tokens called USDT in their derivatives wallet. Every user can gain up to 100x leverage on their trade and this will determine the collateral amount.
The paper trading feature of Bitfinex is especially helpful for traders who have just begun their trading career. It allows users to test their trading strategies through a simulation of the market environment without the accompanying risks of real trading.
Moreover, it will help beginners familiarize themselves with the flow of the market, allowing them to read the situation and decide on the best course of action for their trades. There is no need to deposit real funds for this feature so you can practice your trading strategy as much as you want.
Bitfinex: How to start trading?
Now that you’re familiar with the different features that Bitfinex offers, it’s time to start trading! Here’s what you need to do for a seamless trading experience at Bitfinex:
- The first thing you need to do is to ensure that all of your funds and assets are listed in your exchange wallet. Your account in Bitfinex supports three kinds of digital wallets that are specifically used for their corresponding markets: Exchange, Margin and Funding. Once you’ve made sure that your funds are in the right wallet, find the Manage Wallet page and follow the directions on the page
- Look for the trading page and select the pair of cryptocurrency/fiat that you wish to trade. For example, look for the IOTA/USD pair if you want to purchase IOTA using the USD in your wallet.
- Right after selecting your preferred pair, you will be given an order form outlining the limit, amount you’re trading, amount you wish to purchase and the limit of your exchange. Select the Exchange tab right beside the Margin tab on top of the order form.
- To complete the form, you need to specify your order type, size and price. To make it simpler, you can select the Market Order tab which will put your order at the current market price.
- Once you are done with the order form, you can select either Exchange Buy or Exchange Sell to execute your trade!
Trade with Bitfinex today!
Discover amazing investment opportunities when you register to Bitfinex. It’s time to invest smart and trade efficiently using one of the most technologically advanced cryptocurrency exchange sites in the industry. Enjoy a hassle-free trade through the user-friendly interface of our application. Process your transactions and learn how to manage your assets by registering today!