Bitfinex is a well-known name in the crypto community, but seeing as it has had its fair share of controversy, is this exchange still safe to use? In our review, we will be analyzing the features, security, pros, and cons of the Bitfinex to find out if the exchange is an excellent trading service.
Bitfinex Review: Exchange Overview
Bitfinex was established in the British Virgin Islands, in 2012, by Raphael Nicolle, a Frenchman that was also part of iFinex.inc. It is based in Hong Kong and first started out as a Bitcoin-only, P2P margin lending platform. Most of the founders of iFinex inc. also own the Tether company, the issuer of the controversial USD Stablecoin. The exchange revealed in 2018 that it will be relocating to Switzerland.
There have been many issues regarding Tether and its connection to Bitfinex, but we will be discussing that aspect later in our review.
The platform also manages ETHfinex, an analogous exchange that supports ERC-20 token trading.
It was reported that Bitfinex was built atop of a…