What Countries is Bitfinex Available In?

What Countries is Bitfinex Available In?
Source: BBC

In what countries is Bitfinex available?

Bitfinex, a leading cryptocurrency exchange, offers its services to clients from various countries worldwide.

While Bitfinex is accessible to users in many regions, there are certain countries where its services are not available due to regulatory restrictions or other factors.

In this article, we will explore the countries where Bitfinex operates and the key features and services offered by the exchange.

What Countries is Bitfinex Available In?
Source: Crypto Post

Supported Countries

Bitfinex welcomes clients from a wide range of countries, allowing them to trade and engage in cryptocurrency-related activities.

However, Bitfinex’s services are unavailable in a few countries due to specific legal or regulatory constraints.

At present, Bitfinex does not grant access to the following countries:

  • Bangladesh
  • Bolivia
  • Ecuador
  • Kyrgyzstan

Moreover, as of November 2017, Bitfinex has also stopped servicing clients from the United States due to the challenging regulatory environment in the country.

Also Read: What Countries is ByBit Available In?

Additionally, it’s important to note that these restrictions may be subject to change, and users should check the latest updates from Bitfinex regarding country availability.

What Countries is Bitfinex Available In?
Source: coinspeaker.com

Bitfinex Overview

In 2012, Bitfinex emerged as one of the pioneering professional platforms for cryptocurrency trading. It started as a peer-to-peer Bitcoin exchange and later expanded its support to other cryptocurrencies.

Moreover, iFinex Inc., registered in the British Virgin Islands, owns and operates the exchange.

The platform provides various trading options, including spot and derivatives products.

Additionally, Bitfinex supports over 170 cryptocurrencies, including popular ones like Bitcoin, Ethereum, Tether, Solana, and Litecoin. With high trading volumes and advanced features, Bitfinex caters to individual traders and institutional investors.

Trading Fees and Charges

Bitfinex implements a fee structure that differs for “Takers” and “Makers.” Takers refer to users who take up existing offers on the market, while Makers place new trades and provide liquidity to the market.

The takers’ fee is set at 0.2% of the trading volume. On the other hand, Makers enjoy a lower fee of 0.1%. It’s worth noting that Bitfinex offers fee waivers for Makers when the trading volume exceeds $7.5 million.

Additionally, the Takers’ fee can be as low as 0.1% when sufficient trading volume exists.

It’s important to consider that Bitfinex’s fee structure differs from traditional forex brokers. Cryptocurrency exchanges often impose fees based on the type of trade made, with buyers paying higher fees than sellers due to the perceived impact on market liquidity.

Also Read: What Countries is MEXC Available in?

Bitfinex: Privacy and Security Measures

Bitfinex takes privacy and security seriously to ensure the safety of its users’ funds and information. While specific details about the security measures adopted by Bitfinex are not publicly disclosed, the exchange has enhanced its security protocols following a hack it experienced in August 2016.

Currently, Bitfinex stores 99.5% of its clients’ funds in cold storage, meaning most of the funds are kept offline for added protection against hacking attempts. Only 0.5% of the funds are kept in hot wallets to provide liquidity for the exchange. The cold storage system is geographically distributed and incorporates a multi-signature feature to enhance security.

To access their accounts and withdraw, traders must go through a two-level authentication process. The first level involves Two-factor authentication (2FA), which adds an extra layer of security during login. The second level utilizes Universal 2nd Factor (U2F), which employs a physical security key for added protection.

What Countries is Bitfinex Available In?
Source: coindesk.com

Bitfinex: Customer Support

Additionally, Bitfinex offers customer support services to assist users with their inquiries and concerns. The support team is available 24/7, ensuring users can seek assistance anytime.

However, it’s important to note that customer support is primarily provided via email, so response times may vary.

Typically, users can expect a reply within 12 hours. However, in some cases, the response time may exceed this threshold. Bitfinex continually works to improve its customer support services and reduce response times to ensure a satisfactory user experience.

Also Read: What Countries Is Coinbase Available In?

Conclusion: In what countries is Bitfinex available?

In conclusion, Bitfinex is a leading cryptocurrency exchange that provides services to users from various countries worldwide.

While the platform is accessible to clients from most regions, knowing any country-specific restrictions or regulatory limitations is important.

Bitfinex offers a wide range of cryptocurrencies for trading, advanced trading features, and competitive fee structures for both Takers and Makers.

With a focus on privacy and security, Bitfinex employs measures like cold storage and two-level authentication to protect users’ funds and information. The support team is available 24/7, although email primarily provides responses.

Overall, Bitfinex provides a robust and reliable platform for individuals and institutions to trade cryptocurrency.