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Author Topic: Is Bitfinex a very safe and reliable exchange as of 2016?  (Read 4503 times)
Ch3wbacca
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January 22, 2016, 08:45:24 AM
 #1

I am thinking to purchase and trade some BTCs, and Bitfinex seems very user friendly, however i have noticed they delay severly.

Are they a solvent exchange and if so, are they reliable?

I wouldnt want to be part of a Cryptsy/ Mt gox scenario.

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January 22, 2016, 08:56:51 AM
 #2

i prefer kraken, no hacking of any kind and very fast with sepa

because read here https://www.cryptocoinsnews.com/breaking-bitcoin-exchange-bitfinex-hot-wallet-hacked/
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January 22, 2016, 03:49:32 PM
 #3

I have used Polniex for a while now and it is really good, no delays of any sort in or out of the site.
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January 22, 2016, 06:13:52 PM
 #4

If you are fine with local cash exchange, then you should definitely try out Localbitcoins.com, as they have been the most reliable in all cases if you go through escrow limits... Smiley

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January 22, 2016, 06:33:03 PM
 #5

I've read some about Bitfinex. Even if the people running it are legit, it sounds like the actual site has a lot of issues. Trades freeze, margin profits are often underpaid. I guess it depends on if you want leverage. If you don't then there are more dependable options out there.
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January 22, 2016, 06:59:43 PM
 #6

Not real site is exactly safe, always have a lack from their security, last time I see, people complained about their security, they site got hacked. I prefer to coinbase or kraken, just remember don't keep your money on exchange, use for exchange, that's all.
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January 22, 2016, 07:02:37 PM
 #7

Not real site is exactly safe, always have a lack from their security, last time I see, people complained about their security, they site got hacked. I prefer to coinbase or kraken, just remember don't keep your money on exchange, use for exchange, that's all.

Yeah, that's right...
Whether one buys from any exchange, this should definitely be a warning to them that THEY SHOULD NEVER EVER PUT THEIR BTC ON ANY EXCHANGES, YOU SERIOUSLY DON'T KNOW WHETHER YOU WILL SEE THAT EXCHANGE ONLINE THE NEXT DAY OR NOT...
Just buy and redeem, even if you want to trade, just deposit again, fee ain't much... Wink

Ch3wbacca
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January 23, 2016, 03:21:58 AM
 #8

Thank you guys,

To risk lower, i put my BTC into Kraken, Bitfinex and Okcoin.

I think those are the most safest exchanges atm.

I'd prefer not to do localbitcoins as ppl rip you off most of the time, but it is a controversial debate.

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January 23, 2016, 04:31:36 AM
 #9

I am thinking to purchase and trade some BTCs, and Bitfinex seems very user friendly, however i have noticed they delay severly.

Are they a solvent exchange and if so, are they reliable?

I wouldnt want to be part of a Cryptsy/ Mt gox scenario.


Realistically, no exchange is ever completely safe. Think about...inside job, hacks, government crackdown, insolvency.....

Don't invest more than you can afford to lose in any btc exchange.

Spreading out your capital among two or more exchanges might be one way to hedge against the risk.
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January 23, 2016, 04:54:51 AM
 #10

I have never used bitfinex, so I do not know whether it is safe or not. and I often wear poliniex or bittrex.

           
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Elenkareem
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January 23, 2016, 04:57:58 AM
 #11

Im never use kraken and bitstamp
i think huobi is good market, now huobi avaible in USD market
oblomov
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January 23, 2016, 06:45:34 AM
 #12

I've been a Bitfinex customer for about 3 months.

I have done margin trading and margin funding.  My experience with both has been very good.

The fees associated with margin funding are somewhat high (~15% of fees generated), but BFX is transparent about them.  The funding platform is very easy to use.

Trading transaction fees are quite small (<= 0.1%, declining as trade volume goes up).

The API is straightforward and well-documented.  Unlike non-bitcoin brokers, there are no fees associated with accessing the platform through the API.

I have see nothing that indicates a scam, not even close.


I have seen Reddit and Bitcoin Forum users refer to the owners as French, probably implying a link to Mt Gox.  In my research, I've found no link between Mt Gox and BFX.

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February 26, 2016, 04:14:16 PM
 #13

I've been a Bitfinex customer for about 3 months.

I have done margin trading and margin funding.  My experience with both has been very good.

The fees associated with margin funding are somewhat high (~15% of fees generated), but BFX is transparent about them.  The funding platform is very easy to use.

Trading transaction fees are quite small (<= 0.1%, declining as trade volume goes up).

The API is straightforward and well-documented.  Unlike non-bitcoin brokers, there are no fees associated with accessing the platform through the API.

I have see nothing that indicates a scam, not even close.


I have seen Reddit and Bitcoin Forum users refer to the owners as French, probably implying a link to Mt Gox.  In my research, I've found no link between Mt Gox and BFX.



The lending commission (fee) is also 15% in Poloniex. So there is no difference. But the Bitfinex trading fee is much lower.

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February 26, 2016, 05:23:48 PM
 #14

I never experience yet to trade in bitfinex but i tried many times to trade in other trading site.. I heard bitfinex is safe from other thread and i think its safe but i'm not sure how safe bitfinex is. But my best friend is always there to trade. He like the concept and the bitcoin price rate is the safe as preev rate..

Bitcoin will become stable soon and altcoin will keep increasing this coming months.
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February 26, 2016, 05:53:42 PM
 #15

i prefer kraken, no hacking of any kind and very fast with sepa

because read here https://www.cryptocoinsnews.com/breaking-bitcoin-exchange-bitfinex-hot-wallet-hacked/
They had problems with security in the past. They were somewhat slow on a learning curve how to secure their wallets.
The main reason is that Bitfinex is largely based on Bitcoinica's code, a exchange whose code considered to be far from being good.
But overall Bitfinex is good exchange with low fees, leverage, very easy to use, and it offers more freedom than some other exchanges.
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February 26, 2016, 06:00:29 PM
 #16

to be honest i have never had any problems with it when buying my bitcoins, i think they are pretty reliable, though i dont know about the other people experiences, i am pretty sure if i had to buy any bitcoins right now i would most probably use bitfinex
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February 27, 2016, 12:36:06 PM
 #17

I am thinking to purchase and trade some BTCs, and Bitfinex seems very user friendly, however i have noticed they delay severly.

Are they a solvent exchange and if so, are they reliable?

I wouldnt want to be part of a Cryptsy/ Mt gox scenario.

so far bitfinex is good,and trusted,but we all dont know who behind this all,gox and crptsy accident was made us suck,and of course we dont know bitfinex would become like gox or not,just let time answer it.

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February 27, 2016, 01:47:05 PM
 #18

I am thinking to purchase and trade some BTCs, and Bitfinex seems very user friendly, however i have noticed they delay severly.

Are they a solvent exchange and if so, are they reliable?

I wouldnt want to be part of a Cryptsy/ Mt gox scenario.

so far bitfinex is good,and trusted,but we all dont know who behind this all,gox and crptsy accident was made us suck,and of course we dont know bitfinex would become like gox or not,just let time answer it.

both mtgox and cryptsy gave us plenty of bad signals far before they went bankrupt. people had to react and move away their funds from these exchanges. for a lot people it was too late as mtgox and cryptsy all halted cashouts. everyone knows what happened after that.
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February 27, 2016, 03:21:39 PM
 #19

Maybe to try with Licalbitcoins. You will.probably find someone there from your own country that you can trafe with and that can make it a lot easier for you. I'm using it and I'm very satisfied.

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February 27, 2016, 05:07:08 PM
 #20

I am thinking to purchase and trade some BTCs, and Bitfinex seems very user friendly, however i have noticed they delay severly.

Are they a solvent exchange and if so, are they reliable?

I wouldnt want to be part of a Cryptsy/ Mt gox scenario.

These days no exchange or online wallet service is safe as they can be hacked and after a hack they just say a sorry and say that this will never happen again in future, but all your coins are gone.
So you should keep in mind that the coin on exchange are theirs and not yours
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