Bitfinex Review: Fees, KYC, local currency and P2P
A review of Bitfinex, one of the leading exchanges. Rates for popular trading pairs and crypto trading tools: trading and P2P. Trading fees and limits.
24h volume, $
121,230,105
Liquidity score
604
Fiat on-ramp
Maker
0%
Deposits and withdrawals for local users on Bitfinex
Bitfinex is available to local users (multi-language interface, access without a VPN), but there is no local-currency P2P or local currency deposits. All features are available except fiat fiat transactions — deposits and withdrawals are in crypto.
Access by country
All features except local currency fiat
Deposits and withdrawals
In crypto — no mandatory KYC
Local currency P2P
Not available — deposit via crypto
Fiat
Bank transfers after verification (not in fiat)
KYC and verification on Bitfinex
Verification is not required for crypto transactions on Bitfinex; KYC is needed for fiat transactions:
TierRequirementsAccess/limits
No KYCEmailCrypto deposits/withdrawals and trading
KYCPassport + personal detailsFiat transactions (bank transfers)
Reviews and verdict: is Bitfinex worth using?
Pros
- The oldest exchange in the rating — operating since 2012
- High liquidity on BTC and ETH
- Margin trading with leverage up to 10x
- A unique funding market — income from lending
- Crypto transactions without mandatory KYC
- multi-language interface
Cons
- No local-currency P2P or local currency deposits — crypto only
- Fewer coins (≈180) than at major exchanges
- More for experienced traders than for beginners
Bottom line: Bitfinex is a veteran exchange with deep liquidity and professional-grade tools, including a unique funding market. It is fully available to local users except for local currency deposits — funding must be done in crypto.
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