BitFinex is a cryptocurrency exchange established by a Hong Kong company in 2012. They handle over 200 currencies and are very fulfilling. It is said that the transaction volume of Bitcoin is very large, and it may be one of the best in the world. BitFinex is also an affiliate of Tether Limited, which issues USDT. The CEO of Bitfinex is also the CEO of Tether Limited and has a certain track record. The listing of stocks is also very fast.
Only one of the following is required to open a BitFinex account.
- email address
Click “OPEN ACCOUNT” on the official website or “SIGN UP” at the top right of the screen. Enter your user name, email address, and password of your choice, and check the Terms of Service box. Enter your security word and click “Open Account” at the end to complete the registration.
After registering with BITFINEX, when you log in, the pop-up “Please set 2-step verification” will be displayed, so let’s complete the 2-step verification as it is. Click “Security Center”. Click “Two-Factor Authentication”. Launch Google Authenticator and read the QR code. Enter the verification code displayed on the app and click “ENABLE”.
The following transactions are possible. Maximum leverage is 3.3 times.
- In-kind trading
- Leverage trading
Transaction fees are low. There are many cryptocurrency exchanges, and transaction fees vary from free to 0.3%. As a discount, the commission on the transaction amount is often discounted.
You can trade over 200 stocks on BitFinex. The following is an example, but you can trade many other coins. Please check the official page as the coins handled may change each time.
Scalping trades are allowed in BitFinex. However, please be careful. Unlike foreign exchange, the price range of virtual currencies is very volatile. If you go the other way, be sure to decide the withdrawal point. If you go the other way, you may lose all your money.
Automatic trading is at your own risk
BitFinex has no restrictions on automatic trading. However, automated trading carries great risks. When a one-sided trend appears, the unrealized loss becomes large and all the principal is often skipped. Furthermore, in the case of virtual currencies, trends are more likely to occur than foreign exchange, and price range fluctuations are more likely to occur. You may lose all your money in one trade, so please understand before deciding whether or not to do it. Discretionary trading is recommended.
Low risk, low return for beginners
Beginners should not be familiar with cryptocurrency FX yet, so let’s start with low risk and low return.