Jean Louis van der Velde, CEO of Bitfinex. Interestingly, there’s still not much information on people working for Bitfinex, including the CEO, who, in his own words, “never uses / reads LinkedIn”. Later, after allegedly partaking in a few Ponzi schemes, Nicolle left the exchange, and in 2013, Jean Louis van der Velde joined the venue as CEO, focusing on implementation of a strict set of AML/KYC rules. The rumor has it that Nicolle used the Bitcoinica code to launch Bitfinex. Raphael Nicolle, a controversial BitcoinTalk blogger known as “unclescrooge”, started it. The exchange saw the light of day in Hong Kong. Gox, Hal Finney was living his final days and Bitcoin’s price remained at $5.27! In fact, in 2012, when it was founded, 70% of all Bitcoin transactions worldwide were still handled by Mt. So, what is Bitfinex? As we’ve mentioned above, Bitfinex is one of the oldest crypto trading venues in the niche. In the Bitfinex vs Binance battle, what is it going to be – the white and golden colors of Binance or the green leaf of Bitfinex logo? So, wait a second, did you just start having lingering doubts? Then, the question is simple, but not easy. Binance didn’t have a chance to go through such a vigorous challenge and stay onboard. Even one of the greatest crypto hacks in history, the hack where more than one billion dollars was siphoned off, didn’t wipe Biftinex off the market, if not making it stronger, then at least antifragile. Why change the platform you’ve been with since forever, deposited large amounts and withdrawn with no issues?īy standards of the cryptocurrency niche, Bitfinex is an old venue (2012), older than Binance (2017), and in the niche, such a longevity is well-respected. Indeed, professional traders could use it to suit themselves. The platform has a valid support team that responds within 24 hours, the exchange’s P2P funding mechanism allowing unlimited funding is also great, the spread is quite tight, the variety of order types such as limit, market, stop and even trailing orders is impressive, the derivative analytics as it is presented on the website may be very useful and, in the whole, the in-built TradingView charting functionality doesn’t make the platform look bad. Well, there are a few reasons, actually, to still trade on Bitfinex. So, who are those people, really, trading $1,074,439,261 per day on Bitfinex exchange and why are they doing this? While using Binance, you can pay in a dozen fiat currencies, use a debt or a credit card to purchase crypto or withdraw fiat and pay as low as 0.1-0.1% in maker’s and taker’s fees. It’s more secure, reputable, stable and resourceful as to insurance and different crypto features such as their own dex, defi staking, derivative types, mining pools and loans. Spoiler alert – Binance in many ways is a better exchange compared with the shy guy Bitfinex. Bitfinex’s minimum withdrawal limit in fiat is $10k.Binance and Bitfinex have professional trading terminals, advanced charting functionality and mandatory KYC.Bitfinex restored its vitality after a dramatic breach while Binance has created such a system that is hard to breach.Bitfinex Maker/Taker Fees (0.1%-0.2%) are slightly higher than on and Binance.US (0.1%-0.1%).Binance New Account: Binance Verification Bitfinex Withdrawal: Bitfinex Withdrawal Fees Bitfinex New Account: Bitfinex Verification If your payment is returned unpaid by your bank, you may owe additional charges, such as penalties and interest. Please refer to the table below for the ACH company ID and name. To ensure that your payment is successfully processed, please contact your banking institution to provide them with the appropriate ACH company ID and name to allow for the removal of any ACH debit block which may affect the processing of your payment.
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