November 29, 2021

BitFex.Trade Review

BitFex.Trade Review

Professional developers built the BitFex.Trade exchange from the ground up. Our self-hosted infrastructure has been set up to provide complete anonymity to our traders while also allowing for easy horizontal scalability. To ensure the protection of user funds, embedded security methods like as two-factor authentication (2FA), email confirmation of withdrawals, and others have been implemented; a portion of user cash is stored in cold wallets.

The exchange is already mentioned on a number of relevant websites, including bitcointalk, bits.media, and exchange directories like livecoinwatch, bitmakler, and bitcoinwiki. A community of traders has evolved in the exchange's first five months of operation; they frequently execute transactions on the exchange and are actively involved in its development, creating tasks for the RoadMap.

There are currently 131 ideas, 41 of which have been adopted, 20 currencies (including rubles and dollars), and 56 trading pairs accessible to trade. The daily trading volume varies between 0.5 and 14 BTC. The stock market began formally cooperating with the NEM cryptocurrency in June 2018, with China, Japan, and other Asian countries leading the way. According to CoinMarketCap.com's ranking, it has a yearly turnover of almost 2 billion dollars and is among the TOP-15 largest cryptocurrencies in the world.

Low Transaction Costs

Low Transaction Costs

The present platform supports 18 cryptocurrencies and 2 fiat, mostly US Dollars and Russian Rubles, with alternating fees for deposits of 0% for RUB and 2% for USD and
withdrawals of 4% for RUB and 3% + $0.05 for USD. The trading charge, on the other hand, is a constant of 0.15 percent, which is comparatively low when compared to the global average of 0.25 percent. Regardless, the fee amount varies by currency type, but it generally does not exceed 0.2 percent of the transaction value. Deposits can be done using Yandex Money, which allows you to use your debit or credit card to make a deposit.

Great Customer Support

The team appears to care about the customer experience, and they attempt to resolve any user confusion as quickly as possible through live chat. You can ask all what you would like to know on the live chat since the reply is swift.

User-Friendly API

User-Friendly API

BitFex has an easy to use API for creating trading bots that you can use to automatically place trade orders. In addition, the platform has faucets for free for rerceiving crypto tokens and coins.

BitFex exchange is listed on some of the most largest cryptocurrency resources:

  • CoinMarketCap
  • CoinGecko

The best thing about this platform is that  traders themselves formulate tasks that make the exchanges more convenient for trading. They also have a mobile app that makes it easy to trade  on your mobile phone.

Conclusion

BitFex is a new cryptocurrency exchange aimed mostly towards Russian customers. The English version of the website, on the other hand, works perfectly, which isn't always the case with regionally focused exchanges. The trading climate appears to be pleasant, and the number of coins on the list is projected to expand.

Website

To learn more about BitFex exchange platform, visit: https://bitfex.trade/en/

Disclaimer:

Despite the fact that the project has a good long-term reputation, cryptocurrency trading entails a high level of risk and is not suited for all investors. You should carefully evaluate your investment objectives, degree of experience, and risk appetite before deciding to trade cryptocurrencies. You should not invest money that you cannot afford to lose because there is a chance that you will lose some or all of your initial investment.

You should be aware of all the dangers connected with cryptocurrency trading and seek counsel from a financial expert who is not affiliated with any cryptocurrency exchange. This website's opinions, news, research, analysis, pricing, and other information are offered as general market commentary and do not represent investment advice.

Jack Evans


I became a crypto asset owner in 2014, when the industry was in its infancy. Before that, I was working in the classic US and European stock markets. Since then, I have gained extensive experience in both cryptocurrency investing and day trading. I am happy to share with readers my experience with crypto exchanges, DeFi and NFT instruments.
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