Bittrex vs Bitfinex: Commonly compared to Binance, Bittrex and Bitfinex are both solid exchanges for investors who now have some trading experience under their belt.
They offer numerous trading pairs with low fees, making them ideal candidates if you want to invest in alternative coins (altcoins). Although the exchanges are similar in nature, they still have some differences that may cause you to choose one over the other.
In this Bittrex vs Bitfinex comparison, we dive into all you need to know about each exchange so you can confidently decide which one is best suited for you.
NOTE: Bitfinex recently removed access for United States accounts. So, if you’re a U.S. citizen, you won’t be able to trade on the platform.
We’ll explore:
- Funding Methods
- Interface
- Trading Fees
- Available Cryptocurrencies
- Transfer Limits
- Company Trust
- Fund Security
- Customer Support
Bittrex vs Bitfinex Key Information
| Exchange |  |
 |
|---|---|---|
| Reviews | ||
| Site Type | Cryptocurrency Exchange | Cryptocurrency Exchange |
| Beginner Friendly |  |
|
| Mobile App | |
 |
| Buy/Deposit Methods | Cryptocurrency, Wire Transfer (>$100,000) | Cryptocurrency, Wire Transfer |
| Sell/Withdrawal Methods | Cryptocurrency | Cryptocurrency, Wire Transfer |
| Available Cryptocurrencies | Bitcoin, Ethereum, Litecoin, Bitcoin Cash + >100 more coins | Bitcoin, Ethereum, Litecoin, Bitcoin Cash + >50 more coins |
| Company Launch | 2014 | 2012 |
| Location | Seattle, WA, USA | Hong Kong |
| Community Trust | Great | Average |
| Security | Great | Great |
| Customer Support | Good | Good |
| Verification Required | Yes | Yes (for fiat) |
| Fees | Low | Low |
| Site | Visit Bittrex | Visit Bitfinex |
Funding Methods
Bittrex and Binance share the same methods for funding your account – wire transfers and cryptocurrency.
Wire transfers on Bittrex must be greater than $100,000, and you can only use it to purchase Bitcoin, Ethereum, or Tether. You can deposit any cryptocurrency that Bittrex supports, though.
Unlike Bittrex, Bitfinex doesn’t have a minimum for wire transfers. Like Bittrex, you’re able to deposit any cryptocurrency that the exchange supports.
Interface
The Bittrex exchange interface is much more straightforward than the one on Bitfinex. Bittrex cleanly places the candlestick chart, volume depths, and order books right around the input box to place your order.
And, on Bittrex, you can make market, limit, and/or conditional orders.
Bitfinex also places the trading charts and information mentioned earlier on the same page in which you place orders; however, the layout is more muddled.
In addition to regular trading with market, limit, and other conditional orders, Bitfinex also offers margin trading. Although this trading strategy can be lucrative, it also comes with more risk. You should only trade on margin if you’re an experienced trader.
Trading Fees
Bittrex charges a flat 0.25% fee on all trades.
Bitfinex uses a trading fee schedule to calculate your fees on each trade. To get this figure, the schedule uses your trading volume history in combination with your maker/taker status. As a maker (putting a trade on the books), you’ll pay between 0.00% to 0.10%. While as a taker (filling an order from the books), your fee is between 0.10% to 0.20%.
As you can see, the Bitfinex fees are always lower than the Bittrex fees. Although it may not seem like much, this difference can really add up if you’re planning on trading in high volumes.
Available Cryptocurrencies
Both exchanges have hundreds of trading pairs that most likely include the cryptocurrencies you’re interested in exchanging. This includes, but isn’t limited to:
You can view a full list of supported trading pairs here for Bittrex and here for Bitfinex.
Bitfinex gets a slight tip of the hat here as it offers several more fiat (USD, EUR, JPY, GBP) trading pairs than Bittrex.
Transfer Limits
The Bittrex transfer limits are more strict than the ones you’ll find on Bitfinex.
Bittrex doesn’t limit the amount you can deposit into the exchange, but you need to provide verification to withdraw any of your funds. The daily withdrawal limits associated with each level of verification are:
- No verification: 0 BTC
- Basic verification: ~0.4 BTC
- ID verification (without 2FA): 1 BTC
- ID verification (with 2FA): 100 BTC
Bitfinex doesn’t list any deposit or withdrawal limits for both crypto and fiat, but they have some verification requirements surrounding fiat transfers. To transfer any fiat you need to provide:
- Email address
- Telephone number
- Address
- Proof of address
- Age
- Bank statement
- Two forms of government ID
This is significantly more information than most exchanges ask for during the identification verification process.
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Company Trust
Bittrex has a slightly better reputation than Bitfinex in the blockchain community.
Because Bittrex is operated out of Seattle, the platform has to adhere to the (sometimes overly strict) rules and regulations of the United States. Although Bittrex had to briefly stop new user sign-ups after experiencing overwhelming growth at the end of 2017, the platform is now back in full force with a sleek UI upgrade.
Ask a few traders, and you’ll probably hear a mix of opinions about Bitfinex. Numerous users have had no issue with the platform, but a few common complaints tend to surface over and over again. Some members of the community believe that Bitfinex is illegally printing Tether in order to solve their own insolvency issues. However, this has yet to be proven. Other traders have also reported that the minimum amount needed to withdraw from the platform unfairly traps the funds of smaller investors.
If trust is an important factor to you, Bittrex may be a better choice.
Fund Security
Your funds are as safe (if not safer) on these exchanges as they would be on any other platform.
The team behind Bittrex has years of experience in cybersecurity. They use an elastic multistage wallet to secure the majority of users’ funds offline. On top of that, they’ve baked two-factor authentication into every important step of the trading process.
Bitfinex outlines much of its security practices on its website. They hold 99.5% of the platform’s funds offline in a multisignature wallet. They also back up the exchange’s database every day and keep a close eye on any suspicious trading activity.
Customer Support
Both exchanges have been plagued by slow response times due to understaffed customer support teams, but it appears that they’ve turned this around.
Bittrex made a written commitment to solve that exact issue. The platform now houses a robust customer support site with a simple issue ticket system and numerous FAQs.
Bitfinex also has a dedicated customer support section with common questions/answers and an area to submit any issues.
Bittrex vs Bitfinex Conclusion
Bittrex and Bitfinex are so similar that you may still be having issues making a decision.
If you value community trust and/or simplicity, Bittrex could be the better option (although this comes at a higher price). If you plan on trading large volumes or are interested in more advanced trading options, you should probably give Bitfinex a try.
(See CoinCentral’s Full List of Crypto Exchanges)
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