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Alternative exchanges and sites like Bitfinex
Find the best alternatives to Bitfinex.
One of the largest exchanges in the world, Bitfinex is a platform for professional traders. Bitfinex recently changed their policies for new user registration. To open a trading account on Bitfinex today you need a minimum equity of $10,000 USD deposited into your exchange account.
Alternatives to Bitfinex
While Bitfinex offers features like margin trading and fiat/crypto pairings, there are a number of other exchanges that allow you to buy and sell cryptocurrencies.
Disclaimer:
This information should not be interpreted as an endorsement of cryptocurrency or any specific provider,
service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and
involve significant risks – they are highly volatile and sensitive to secondary activity. Performance
is unpredictable and past performance is no guarantee of future performance. Consider your own
circumstances, and obtain your own advice, before relying on this information. You should also verify
the nature of any product or service (including its legal status and relevant regulatory requirements)
and consult the relevant Regulators' websites before making any decision. Finder, or the author, may
have holdings in the cryptocurrencies discussed.
Sites like Bitfinex
Exchanges that support crypto/fiat trading are less common than exchanges that deal exclusively in cryptocurrencies, but there are still some solid alternatives to Bitfinex. In the US, three options that stand out are:
Coinbase Pro Pros:
- Trade fiat currencies for BTC, ETH, BCC, and LTC
- No fees on limit orders
- Deposit and withdraw directly to your bank account.
Coinbase Pro Cons:
- Lengthy verification process.
- Site has been known to crash during high traffic periods.
- Limited access to margin trading.
Kraken Pros:
- Buy Bitcoin and other cryptocurrencies with USD.
- Deposit and withdraw directly to your bank account.
- Margin trading available.
Kraken Cons:
- Lower trading volume than some sites.
- Some cryptocurrencies are not supported.
Gemini Pros:
- Trade fiat currencies for BTC and ETH.
- Easy to use.
- Deposit and withdraw directly to your bank account.
Gemini Cons:
- Deposits require same-day wire transfer.
- Lower trading volume than other sites.
- Limited trading pairs.
If none of the above has what you’re looking for, you might want to start looking in one of the places below.
- Want to buy with fiat currency? Find out where to buy with almost any fiat currency, from USD to Zloty.
- Looking for a specific coin? Search for exchanges by coin here.
- Want more options? Get a wider look at the available cryptocurrency exchanges.
Why you might want to avoid Bitfinex
- Minimum account equity. New accounts on Bitfinex are not allowed to do anything until they have a minimum value of 10,000 USD, deposited either in cryptocurrency or via bank wire.
- You live in the US. Bitfinex stopped offering service to US residents in 2017. While it is still technically possible to access Bitfinex from the US, this is not recommended.
- Verification timeline. To get access to features like fiat deposits and withdrawals, Bitfinex requires you to go through a verification process and submit personal information. This process can take up to eight weeks due to high demand.
Bottom line
Bitfinex is one of the largest exchanges in the world, and it is really geared towards professional traders. Unless you are a high roller with some serious trading experience under your belt, Bitfinex is probably not the best choice in terms of exchanges.
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