<span style="font-weight: 400">In this article, we are going to help you out with your doubts about <a href="https://www.cryptoknowmics.com/news/how-to-trade-on-bitfinex">how to trade on Bitfinex</a> Exchange. Bitfinex is among the few exchanges that provide high liquidity to the users. If you are planning to purchase cryptocurrency, trading on Bitfinex can be your best bet. However, we do suggest that you do some research about the exchange and compare its fees, services, features and supported cryptocurrency with other exchanges.</span>
<h2><strong>Bitfinex Exchange Advantages and Disadvantages</strong></h2>
<span style="font-weight: 400">When trading on Bitfinex, you would be able to make your trade without delays. Furthermore, there are more than a hundred cryptocurrencies supported on the platform, so whether you are planning to purchase a single asset or a couple of them, it has it all. The platform is made experiences and advanced traders in mind, which is why it is often mentioned hard to use by beginners. Aside from having a little complicated interface, there’s no other issue you might encounter. It also has advanced trading features such as long and short margin <a href="https://www.cryptoknowmics.com/news/best-crypto-trading-bots-in-2020/">trading and cryptocurrency</a> lending.</span>

<b>Advantages</b>:
<ul>
 	<li style="font-weight: 400"><span style="font-weight: 400">Supports over a hundred cryptocurrencies</span></li>
 	<li style="font-weight: 400"><span style="font-weight: 400">Offers high-level trading tools for intermediate and advanced traders</span></li>
 	<li style="font-weight: 400"><span style="font-weight: 400">Provided high liquidity</span></li>
</ul>
<b>Disadvantages:</b>
<ul>
 	<li style="font-weight: 400"><span style="font-weight: 400">To use the platform without verification, one must have $10,000USD in the account.</span></li>
 	<li style="font-weight: 400"><span style="font-weight: 400">Trade cryptocurrencies at a higher price than other platforms sometimes</span></li>
</ul>
<h2><strong>How To Sign Up On Bitfinex?</strong></h2>
<img class="aligncenter wp-image-165923 size-full" src="https://www.cryptoknowmics.com/crypto/wp-content/uploads/2020/04/Sign-up-on-bitfinex.png" alt="Sign up on bitfinex" width="800" height="492" />

<span style="font-weight: 400">The first step if you want to know about how to trade on Bitfinex is to open your Bitfinex account. Visit Bitfinex’s official website and click on Sign up option on the upper right corner of the page. Fill up all the necessary details, including your name, email address, set password and confirm the CAPTCHA. Click on Open account and verify your email address by clicking on the link sent to you.</span>

<span style="font-weight: 400">Once, you are done with the basic set up; you need to go through the verification process. However, it is not mandatory; you would need to deposit at least USD 10,000 in your account to use the platform. Anyways, if you don’t have any issue with the verification and if you can wait for a while, then you should definitely do it. The verification procedure is straightforward, you just need to provide them with any of your identity proof whcih has your name and address on it. After submitting the documents, you need to wait up to 48 hours for it to get verified.</span>

<span style="font-weight: 400">Before you go on and <a href="https://www.cryptoknowmics.com/news/how-to-trade-on-bitfinex">start trading on Bitfinex</a>, do turn on 2FA for another level of security.</span>
<h2><strong>How To Trade On Bitfinex?</strong></h2>
<ul>
 	<li>
<h3>Deposit Funds</h3>
</li>
</ul>
<span style="font-weight: 400">Now it’s time you deposit the funds into your account and learn how to trade on Bitfinex. As a new user, you can only deposit/withdraw Bitcoin into your account. To do so, go to the Wallets option and select Deposits. Copy your wallet address and send the funds to it.</span>
<ul>
 	<li>
<h3>Start Trading</h3>
</li>
</ul>
<span style="font-weight: 400">As soon as the funds are transferred into your wallet, choose the trading pair to buy cryptocurrency. For example, if you want to buy Bitcoins, click on BTC option and then you’ll see its price chart, order books and button as well as other cryptocurrencies. </span>

<span style="font-weight: 400">After selecting the trading pair, choose if you want to place a limit order or market order. If you are in a hurry and wants to buy Bitcoins right away, you must select market order. In a market order, your order is placed immediately at the best price available in the market. All you have to select is the number of Bitcoins you wish to buy, and your order would be executed. However, if you want to place your order at a specific price, choose limit order. There you can set the price of Bitcoins at which you want to buy it, and your order would only be placed when the prices go below your selected range.</span>

<span style="font-weight: 400">Make sure you select the right pair whether you are purchasing or selling out bitcoin. For example, if you want to <a href="https://www.cryptoknowmics.com/news/how-to-buy-or-sell-ethereum-for-fiat-currency/">purchase Bitcoin using fiat currency</a> USD, select BTC/USD and click on Exchange buy. The same is when you want to sell Bitcoin for USD, just select Exchange Sell instead. </span>
<ul>
 	<li>
<h3>Withdraw Your Funds</h3>
</li>
</ul>
<span style="font-weight: 400">At last, you can withdraw your assets and transfer it to your private wallets for HODLing. To do so, go to Withdraw section and then select the cryptocurrency you want to withdraw. The transfer can take up to a few days to process. Assets like Litecoin and XRP can be transferred right away because of its offered transferring speed.</span>
<h2><strong>Precautions To Take Before You Trade</strong></h2>
<img class="aligncenter wp-image-165921 size-full" src="https://www.cryptoknowmics.com/crypto/wp-content/uploads/2020/04/Precautions-to-take-before-you-trade.png" alt="Precautions to take before you trade" width="800" height="492" />

<span style="font-weight: 400">Now that you know how to trade on Bitfinex, there are some things you need to consider before making your purchasing. Read the pointers given below for best Bitcoin and cryptocurrency trading tips:</span>
<ul>
 	<li style="font-weight: 400"><span style="font-weight: 400">Know the risk before taking it. The cryptocurrency market is volatile, and even if you have collected all the knowledge in the field, there’s no certainty of being benefitted. So, you must calculate the risks beforehand and only invest as much amount as you can afford to lose.</span></li>
 	<li style="font-weight: 400"><span style="font-weight: 400">Instead of putting your money on a single asset, invest in a couple to prevent high risks. If you spend all your savings in single crypto, there would be more risk associated with it.</span></li>
 	<li style="font-weight: 400"><span style="font-weight: 400">Keep all your fears and emotions aside. Don’t sell your assets in panic or take split-second decision out of greed.</span></li>
 	<li style="font-weight: 400"><span style="font-weight: 400">Create a proper and secure plan before you start trading.</span></li>
 	<li style="font-weight: 400"><span style="font-weight: 400">Learn everything possible about <a href="https://www.cryptoknowmics.com/news/guide-for-cryptocurrency-trading-for-beginners-in-2020/">Bitcoin and cryptocurrency trading</a>. </span></li>
 	<li style="font-weight: 400"><span style="font-weight: 400">Select a well-reputable crypto exchange like Bitfinex. Analyse all the security aspects of the platform and compare its fee structure with other exchanges. </span></li>
 	<li style="font-weight: 400"><span style="font-weight: 400">Subscribe to reliable crypto news channels and keep yourself updated to the latest news. However, you must not trust single news and look out for other sources.</span></li>
 	<li style="font-weight: 400"><span style="font-weight: 400">Learn technical analysis techniques such as chart reading and make your exit and entry plan.</span></li>
</ul>
<span style="font-weight: 400">So, before you go on and trust any exchange or put your money on any crypto asset, just make sure you have done your research about it. If you have any other doubts regarding cryptocurrency exchanges or any such topic, read our guides about the best crypto platform for trading.</span>

<strong>Articles You May Read</strong>
<ul>
 	<li><a href="https://www.cryptoknowmics.com/news/how-to-cash-out-bitcoin/">Complete Guide On How To Cash Out Bitcoin (BTC)</a></li>
 	<li><a href="https://www.cryptoknowmics.com/news/a-beginners-guide-on-how-to-get-profit-from-bitcoin-and-cryptocurrency/">A Beginner's Guide On How To Get Profit From Bitcoin And Cryptocurrency</a></li>
 	<li><a href="https://www.cryptoknowmics.com/news/bitcoins-value-after-corona/">What Will Be Bitcoin's Value After Corona Threat Is Over?</a></li>
</ul>

Bitcoin Trading: Learn How To Trade On Bitfinex Exchange

Learn how to trade on Bitfinex, the world's most liquid crypto exchange and follow the best Bitcoin trading practices to buy and sell on bitfinex.

Javeria is into the crypto world ever since she heard about it and is pursuing her interest through cryptoknowmics. She is a sensational poet, technical writer and content strategist. Not to mention that she can go crazy when it comes to vampires and Wonder woman.

Bitcoin Trading: Learn How To Trade On Bitfinex Exchange

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