Bitcoin Forum

I just started using bitfinex, as they have higher liquidity than many, and almost immediately got disappointment, as fiat withdrawal takes about 3 business weeks!
Only actual approval for withdrawal took a week, and now they say the money is going to be with my bank acc. in 10~15 business days. And no explanation followed.
Has anybody experienced such behavior with bitfinex before?

It seems like it's the case for everyone whenever the regular wire  (https://support.bitfinex.com/hc/en-us/articles/213919309-Fiat-Withdrawal-Processing)is used. If you're from Europe, I suggest checking Coinmama or Coinbase, they both support SEPA transfers which should be done in 1-3 days.

You should ask for support from the exchange for the best guidance. I usually do not use exchanges because it is really complicated and controlled by the US government so the investment may be very difficult. If you want to be able to quickly withdraw to your Fiat, you should choose USDT because it has the best liquidity in this market or you can also use exchanges such as Binance or Huobi because every transaction is possible confirm very fast

I use the Bittrex exchange to do tranding, there according to my security is pretty good and he is also an old exchange and has gained very large consumer trust

The best exchange to use for you really depends on what country you're in. Some specific countries like India and the Philippines has their own sort of local version of Coinbase. Personally though? Localbitcoins all the way.

You should do a study and ask a lot of discussion in the forum. Some exchanges are problematic, but sometimes there is also a technical problem. Some exchanges that have good reputation will always provide maximum service. Personally I will choose Bittrex, binance and indodax as the exchange platform that I use. Public trust in an exchange will determine whether the exchange will provide good or not. Things that are really hard to do, but when we have the ability to change it we will be able to do it !!!

I agree that check first if there's a very own local exchange that operates in your country. It's more reliable, easy and you can ask the support probable problems and solutions if ever there's something wrong with the TX you've made with them.

LBC is also a good one but if you don't like using it, I reckon using coinbase. I'd warn you if someone suggests a very unknown exchange, don't be too gullible to trust them quickly. Check reviews to be assured that your money is safe from those exchanges and as much as possible, you can avoid them.

Bitfinex has been having ongoing banking problems for about two years now, ever since Wells Fargo apparently refused to keep operating as an intermediary bank for them. Withdrawals that used to flow in a week's time now seem to take a few weeks or more. They've also put a 3% tax (https://www.bitfinex.com/posts/311) on traders who withdraw high volumes of fiat money. Obviously, this is to discourage traders from stretching their limited banking capacity. Some people worry that it suggests insolvency, though.

BFX has basically been a no go area for fiat for years now. You'd have to be one of their mates to have a chance of moving it in a realistic time frame and painless manner. Even then you might be dealing with one of their countless creepy offshore accounts. They've said they bank like criminals. Ducking, diving and lying.

As for me my go to exchange has become Kraken which I'm finding just fine to use. I don't dick with fiat though.

Bitfinex has a lot of shady pass. Its payment processor is Cryptocapital, which is also the same payment processor of QuadrigaCX. They're definitely shady af, so it's not surprising that you face this issue. They've been unable to process fiat transfer for weeks, or months previously, and I'm not surprised if they do the same thing again.

If it is exchange for FIAT, I never knew bitfinex is used for that, I have always thought that they are crypto exchange and trading platform, It is LUNO that I have strictly been using for a very long time now for my fiat exchange and they have never disappointed me, my deposit takes almost instant and my withdrawal is within 24 hrs but I don’t know if LUNO works in your country  but for my crypto and trading exchange, the best of all exchanges I am aware of right now which I call the king of exchanges is Binance, I have been using Binance from the moment I got into the  crypto community, low transaction fees, fast withdrawal and deposit.