Among the different cryptocurrency exchanges operating in the market, Bitfinex is a Hong Kong-based entity that is a cryptocurrency exchange operating since 2016. It is a platform that facilitates trading between US dollars and Bitcoin as well as other Altcoins, seven in number that includes Ethereum and Monero. For those looking to trade in Bitcoin with the use of US dollars, this is a platform that comes to use.
Features of Bitfinex
This platform as a Bitcoin trading and exchange forum offers the following benefits:
Performance of Bitfinex
Since the year of its inception, this platform has showcased certain parameters of performance and handled significant trading volumes such as:
With its reliable and lucrative reputation, it also has a high community of traders. It also acts as a good platform where one can check the trading prices between BTC and USD.
Words of caution
The platform has not been without incidences. For instance, in 2016 there were about 120,000 Bitcoins that were reported to have been stolen from this platform. It also impacted the price of Bitcoin and pushed its price down by a large margin. The platform handled the incident by socializing the losses so that all user accounts faced the loss in an even way. Custom tokens were introduced and awarded to affected users at this time.
Based on the above information it is important that those who choose to trade on this platform do so at their own risk.