What is Bitfinex?
Bitfinex is a cryptocurrency exchange that allows users to trade a wide variety of cryptocurrencies. It is known for its advanced trading features, including margin trading, lending, and high liquidity.
Who is the Founder?
Bitfinex was founded by Raphael Nicolle and a group of developers in 2012.
When Did It Start Operations?
Bitfinex began operations in 2012.
Where Is It Based?
Bitfinex is based in the British Virgin Islands.
In Which Countries Is It Banned?
Bitfinex faces restrictions in several countries, including:
- United States: Bitfinex has faced regulatory scrutiny and has limited services for U.S. residents.
- China: Cryptocurrency exchanges are banned.
- Other Countries: Various regions may have specific regulations that limit or restrict access to Bitfinex.
What Is the Trading Fee?
Bitfinex’s trading fees vary based on the user’s trading volume, generally ranging from 0.1% to 0.2% for taker orders and lower for maker orders. Users can benefit from reduced fees based on their trading activity.
Is Margin Trading Available?
Yes, Bitfinex offers margin trading, allowing users to trade with leverage. Users can leverage their positions significantly, which can amplify both potential profits and risks.
