Bitfinex is one of the oldest and top crypto exchanges in the field, founded in 2012. The Bitfinex headquarters is based in Hong Kong and managed by iFinex Inc. It is one of the most liquid exchanges in the world that deals in digital tokens.
The journey of Bitfinex as a exchange trading platform has not been impeccably smooth in its early days, as soon after it came into existence, the cryptocurrency exchange experienced two hacks and several other controversies for price manipulation and security breaches along with allegations of insolvency. But with its unique features and safety measures, it has managed to become one of the largest cryptocurrency exchanges in the world in terms of high volume. Bitfinex security and safety are the major concerns for Bitfinex, not because the platform experienced consecutive hacks soon after its inception but because the customer’s safety is prioritized. In order to keep client funds safe, Bitfinex stores 99.5% of its user funds in a cold storage system that is also geographically spread out and uses a multisig feature.

Bitfinex offers the following unique features to its users:

• Lending and Staking
The lending and staking services offered by Bitfinex allow users to lend or stake their cryptocurrency holdings easily. For this, traders are not required to have the technical knowledge to operate a staking software; it is done automatically at Bitfinex. It has a separate P2P platform called the ‘Bitfinex Borrow’ that allows users to borrow funds from their fellow users using the cryptocurrency assets as collaterals.

• Derivatives trading
Bitfinex allows derivatives trading that allows traders to speculate on the price of an asset or derivative without the need to buy or sell it. Traders who intend to execute a trade only need to collateralize their derivatives account with their USDT holdings.

• Over-the-counter services
An over-the-counter trading service is available for traders who wish to trade major amounts (say over $100,000) of cryptocurrency privately.