Our company has come a long way from a simple exchange platform to a complex mechanism, which works smoothly. We have changed the perception of many people about cryptocurrency and its use. We introduced lots of interesting and useful technologies, which are helping us to protect your funds, and helping you to invest your funds with maximum benefit.
World's first we created system, which helps you to buy, sell, transfer your funds inside our exchange in few seconds, you don't need to wait blockchain conf irmation any more. In our Exchange your funds This one, and lots of another features makes trading in Trading Exchange very comfortable, useful and profitable. After making a deposit, your funds constantly are stored on the permanent wallet, no matter what manipulations you do with them. They are assigned to you in the internal system of our site, so you shouldn't pay a commission on the blockchain network during transfer, trading and other transactions.
We are interested in cryptocurrencies and we believe they will change the world and become the main currency in the future. We believe that cryptocurrencies will continue to grow and develop tirelessly, so we offer to invest in them right now, because even a very small investment changes the world.
This excludes banks from the money exchange chain between stores and users, which significantly reduces the percentage of fees. Cryptocurrencies are anonymous, it is need, because when you are living in the 21st century, nobody can guarantee you 100% privacy. Your phone, your camera on your laptop, your speakers - all of this takes away from you your privacy, despite only you are owner of this information! In financial world only cryptocurrencies, thanks to their unique technology, can provide you anonymity and privacy. It's easy! By us, buying and selling cryptocurrencies has become much easier, which simplifies the work. It's profitable! Many people have earned lots of money in trading! Just become a part of these people!
Our exchange allows users to create Market and Limit Orders for the sell/buy of the desired coin/token. For your convenience, all your transactions are collected in one place. You can see the history of operations in your personal account. Visually convenient Order Book is another advantage of our exchange.
The convenience of using exchange lies in the low Deposit and Withdrawal limits, as well as in the same commissions for Limit and Market. VIP users will be able to save significantly on commissions, as they will be lower.
We take care of the security of our clients data and their electronic money stored on our exchange in accordance with the Personal Data Protection Regulation. The client can pass KYC verification for greater protection and convenience of solving various situations by the support service. Also, exchange users can pass the two-factor authentication procedure, which will significantly increase the protection of their Account. Read all the details on our Help Center page.
Сryptocurrency is a digital currency that uses cryptography for security, feature, that makes it difficult to counterfeit. It is not issued by any central authority, rendering it theoretically immune to government interference or manipulation.
Registering is as simple as 1, 2, 3. Go to main page and register with your email address to get started. For registration, you will need a username and a password.
For certain kinds of Exchange Cryptocurrency Platform payments profile transactions, we might need to verify your identity using information protecting your wallet. Verifying your identity helps prevent fraud and ensures that no one, except you, is able to use your payment information to make changes. You can make the first withdrawal of your funds to the wallet, which is registered and verified with your account. Click to Deposit at the left tab, select the minimum amount BTC that will be added to your account balance.
ID verification is needed to increase the security and reliability of the account. In case of loss of access to the mail to which the account is linked, you can always restore access with your Passport, driving license and other legal ID. In addition, verification allows you to increase daily withdrawal limits.
We allow you to enable 2FA on your account by checking 2FA box in Personal Area â Settings. When making a deposit or withdrawal, you will receive a link to the confirmation of the operation by email. The confirmation link has a limited validity period. This greatly increases the security of your account because if your device is hacked into, or your password is compromised, the hacker will still not be able withdraw or transfer funds because they need access email, too. You may turn the verification off anytime you want.
Please contact Support and we will ask you questions to verify your account ownership.
If you have other questions that are not answered here please feel free to contact support manager.
The referral system on our exchange is divided into three stages:
A :a group of people who registered directly with your link B :friends of your referrals, who, in turn, were invited by category âAâ referrals and registered by their referral code C :registered users on a referral link of a referral from category âBâ Thus, the domain.site referral system consists of three stages.
A referral is a partner program participant who has registered on the recommendation of another participant. A referral is also a full-fledged user of the domain.site Exchange, without any restrictions. The person who brought the new member to the project will receive a commission (referral). Accordingly, the more people click on the link, the more passive earnings the referrer will have
As we mentioned above, the updated referral system includes as many as three stages of referrals, respectively, the rewards will also vary for you depending on your category. For category A referrals you get 50% of the commission, category B referrals will bring you 10%, and for category C you will get 2.5% of the commission.
For each referral you will receive your percentage, but this percentage will depend on the referral category: A, B or C.
At the moment, the referral system and the ability to create an unlimited number of referral codes are only available to premium users.
domain.site referral program packs these key features:
No referral limits - You can refer as many friends as possible; you and your friends will each get refferal bonus in BTC equivalent after they complete their verification.
Anyone can participate - Available for all eligible Trading users, no BTC/ETH/BCH staking required to refer friends.
Bonus credited instantly - Your friends can use their sign-up bonus immediately after they passing verification.
Get rewards for your friends deposit - For each new friend you will receive 0.01% (in BTC) of the sum of all his deposits.
Go to the settings page and click on the link "Click here to get your referral link". Enter your referral code in the field and click "Create". Please note that the code should include letters and numbers and be at least 8 and no more than 12 characters.
The Bitfex's AML Policy is designed to prevent money laundering by meeting the European standards on combating money laundering and terrorism financing, including the need to have adequate systems and controls in place to mitigate the risk of the firm being used to facilitate financial crime. This AML Policy sets out the minimum standards which must be complied with and includes:
Appointing a Money Laundering Reporting Officer (MLRO) who has a sufficient level of seniority and independence, and who has responsibility for oversight of compliance with the relevant legislation, regulations, rules and industry guidance;
Establishing and maintaining a Risk-Based Approach (RBA) to the assessment and management of money laundering and terrorist financing risks faced by the firm;
Establishing and maintaining risk-based Customer Due Diligence (CDD), identification, verification and Know Your Customer (KYC) procedures, including enhanced due diligence for customers presenting a higher risk, such as Politically Exposed Persons (PEPs);
Establishing and maintaining risk-based systems and procedures for the monitoring of on-going customer activity;
Establishing procedures for reporting suspicious activity internally and to the relevant law enforcement authorities as appropriate;
Maintaining appropriate records for the minimum prescribed periods;
Providing training for and raising awareness among all relevant employees.
Bitfex is prohibited from transacting with individuals, companies and countries that are on prescribed sanctions lists. Bitfex will therefore screen against United Nations, European Union, UK Treasury and US Office of Foreign Assets Control (OFAC) sanctions lists in all jurisdictions in which we operate.
1.The purpose of this Privacy Policy is to inform you and provide you with an understanding of how Mek Global Limited (âBitfexâ or âweâ or âusâ or âourâ) handles, collects, uses, discloses and deals with personal data about you (âUserâ) that you give us, that we receive through third parties or that is in our possession. Further, this Privacy Policy governs the manner in which Bitfex collects, uses, maintains and/or discloses personal data collected from Users of the Bitfex.com website (âSiteâ). To provide you with our Services, we might need (and sometimes obliged by the law) to collect your personal data.
2.We take our responsibilities under the Constitution of United States of Amerie seriously. We also recognize the importance of the personal data you have entrusted to us and believe that it is our responsibility to properly manage, protect and process your personal data.
3.This privacy policy applies to the Site and all Services offered by Bitfex.
4.We may collect personally identifiable information from Users in a variety of ways, including, but not limited to, when Users visit our Site, register on the Site, place an order, and in connection with other activities, services, features or resources we make available on our Site. Users may be asked for, as appropriate, name, email address, mailing address, phone number. Users may, however, visit our Site anonymously. When interacting with us on the Site, Users can always refuse to supply personal data to us, except that it may prevent them from engaging in certain Site related activities or transactions.
Non-personally identifiable information
5.We may collect non-personally identifiable information about Users when they interact with our Site.
6.âPersonal dataâ used in this Privacy Policy is to mean data, whether true or not, about an individual who can be identified from that data, or from that data and other information to which an organization has or is likely to have access. Bitfex collects information about you when you use our websites (including the Site) and other online products and services and throughout other interactions and services you have with us. Personal data which we may collect include:
1. Name
2. Home Address
3. Contact Information
4. Transactional Information
5. Usage and Preferences
6. Identification number
We will collect your personal data in accordance with the legislative purpose of the DPA.
7.We may also collect and store certain information automatically when you visit the Site. Examples include the internet protocol (IP) address used to connect your computer or device to the internet, connection information such as browser type and version, your operating system and platform, a unique reference number linked to the data you enter on our system, login details, the full URL clickstream to, through and from the Site (including date and time), cookie number and your activity on our Site, including the pages you visited, the searches you made and, if relevant, the products/services you purchased.
8.We may receive information about you from third parties if you use any websites or social media platforms operated by third parties (for example, Facebook, Instagram, Twitter etc.) and, if such functionality is available, you have chosen to link your profile on the Site with your profile on those other websites or social media platforms.
9.We may use cookies to identify you from other users on the Site.
10.A cookie is a small file of letters and numbers that we store on your browser or the hard drive of your computer or device.
11.You can block or deactivate cookies in your browser settings.
12.We use log-in cookies in order to remember you when you have logged in for a seamless experience.
13.We use session cookies to track your movements from page to page and in order to store your selected inputs so you are not constantly asked for the same information.
14.This Site uses Google Analytics which is one of the most widespread and trusted analytics solution on the web for helping us to understand how you use the Site and ways that we can improve your experience. These cookies may track things such as how long you spend on the Site and the pages that you visit so we can continue to produce engaging content.
15.By continuing to use the Site, you are agreeing to the use of cookies on the Site as outlined above. However, please note that we have no control over the cookies used by third parties.
16.For further information on types of cookies and how they work visit www.allaboutcookies.org
Purposes For Collection, Use, Disclosure And Processing Of Your Personal Data
17.Bitfex will/may collect, use, disclose and/or process your personal data for one or more of the following purposes:
(a)administering, facilitating, processing and/or dealing in any matters relating to your use or access of the Site, including identifying you for login to the Site, our portals and other online services provided by or on behalf of us;
(b)monitoring, processing and/or tracking your use of the Site in order to provide you with a seamless experience, facilitating or administering your use of the Site, and/or to assist us in improving your experience in using the Site;
(c)assessing and processing your request for the purchase of and/or subscription to our products and/or services;
(d)registering you as a customer of Bitfex and/or to deal with, process and/or administer the account that you may open with us, whether a membership account or otherwise, including to facilitate your transactions or activities on the Site, or your transactions or activities with us;
(e)administering, facilitating, processing and/or dealing with your relationship with us, any transactions or activities carried out by you on the Site or with us. This includes processing your application, orders and payment transactions; implementing transactions and the supply of products and/or services to you that you have requested;
(f)carrying out your instructions or responding to any enquiry given by (or purported to be given by) you or on your behalf including responding to your enquiries and complaints; or responding to or dealing with your interactions with us;
(g)contacting you or communicating with you via phone/voice call, text message and/or fax message, email and/or postal mail for the purposes of administering and/or managing your use of the Site, your membership and/or account with us, your relationship with us or any transactions made by you with us. You acknowledge and agree that such communication by us could be by way of the mailing of correspondence, documents or notices to you, which could involve disclosure of certain personal data about you to bring about delivery of the same as well as on the external cover of envelopes/mail packages;
(h)providing services to you as our account holder, as our customer, or when requested by you; dealing with or administering your participation in contests, gamification, social events organized by us;
(i)understanding your interests, concerns and preferences;
(j)identifying you and assisting you in your use of our products, services and website services;
(k)for marketing purpose and in this regard, we would be providing you with marketing, advertising and promotional information, materials and/or documents relating to products, contests, services and/or events (including those of third party organisations with which Bitfex may collaborate with) that Bitfex (including its affiliates/related corporations) or such third party organisations may be selling, marketing, offering, organizing, involved in or promoting, whether such products, services and/or events exist now or are created in the future:
(i)by way of postal mail, electronic transmission to your email address(es), and/or through other modes of communication that is not the 3 DNC Modes, in compliance with applicable local data protection law (i.e. the DPA). You may opt out of this or withdraw from this at any time by sending an email to our Data Protection Officer. For the avoidance of doubt, the application of or your acceptance of or your consent to, this Privacy Policy, constitutes your consent to this subparagraph (i);
(ii)if you have separately expressly consented to one or more of the following 3 DNC Modes, by way of the 3 modes of communications of voice calls, text messages or faxes (the â3 DNC Modesâ) to your telephone number, in compliance with the requirements of applicable local data protection law (i.e. the DPA); and/or
(iii)Notwithstanding (ii) above, regardless that you have not separately provided express consent as aforementioned in (ii) above, Bitfex reserves its right to send a specified fax message and/or a specified text message (i.e. a marketing fax message or marketing text message) to your telephone number, to which Bitfex reserves the right for final interpretation;
(l)carrying out due diligence or other screening activities (including background checks) in accordance with legal or regulatory obligations (whether United States of America or foreign country) applicable to us or our affiliates/associated companies, the requirements or guidelines of governmental authorities (whether United States of America or foreign country) which we determine are applicable to us or our affiliates/associated companies, and/or our risk management procedures that may be required by law (whether United States of America or foreign country) or that may have been put in place by us or our affiliates/associated companies;
(m)to prevent or investigate any fraud, unlawful activity or omission or misconduct, whether or not there is any suspicion of the aforementioned; dealing with conflict of interests; or dealing with and/or investigating complaints;
(n)complying with or as required by any applicable law, court order, order of a regulatory body, governmental or regulatory requirements, of any jurisdiction applicable to us or our affiliates/associated companies, including meeting the requirements to make disclosure under the requirements of any law binding on us or our affiliates/associated companies, and/or for the purposes of any guidelines issued by regulatory or other authorities (whether of United States of America or elsewhere), with which we or our affiliates/associated companies are expected to comply;
(o)complying with or as required by any request or direction of any governmental authority (whether United States of America or foreign country) which we are expected to comply with; or responding to requests for information from public agencies, ministries, statutory boards or other similar authorities (whether United States of America or foreign country). For the avoidance of doubt, this means that we may/will disclose your personal data to such parties upon their request or direction;
(p)conducting research (including customer research), surveys, market surveys, analysis and/or development activities (including but not limited to data analytics, surveys and/or profiling) to improve our services and facilities, or to improve our understanding of your interests, concerns and preferences, in order to enhance any continued interaction between yourself and us connected or in relation to the Site, or improve any of our products or services;
(q)storing, hosting, backing up (whether for disaster recovery or otherwise) of your personal data, whether within or outside United States of America;
(r)facilitating, dealing with and/or administering external audit(s) or internal audit(s) of the business of Bitfex or that of its affiliates/related corporations;
(s)to create reports with respect to our transactions with you, and/or producing statistics and research of such transactions for internal and/or statutory reporting and/or record-keeping requirements;
(t)dealing with and/or facilitating a business asset transaction or a potential business asset transaction, where such transaction involves Bitfex as a participant or involves only a related corporation or affiliated company of Bitfex as a participant or involves Bitfex and/or any one or more of Bitfex related corporations or affiliated companies as participant(s), and there may be other third party organisations who are participants in such transaction. âbusiness asset transactionâ means the purchase, sale, lease, merger or amalgamation or any other acquisition, disposal or financing of an organisation or a portion of an organisation or of any of the business or assets of an organisation;
(u)anonymization of your personal data. In this regard, you acknowledge that personal data that has been anonymized is no longer personal data and the requirements of applicable local data protection law (i.e. the DPA) would no longer apply to such anonymized data;
(v)Bitfex, Bitfex Group Companiesâ reporting purposes including but not limited to reporting on Bitfex business performance (âBitfex Group Companiesâ means Bitfex, its affiliates, related corporations and associated companies globally); including producing statistics and research for internal and/or statutory reporting and/or record-keeping requirements, of Bitfex or of its affiliates/related corporations; and/or (the purposes set out above shall be collectively referred to as the âPurposesâ).
18.Bitfex may/will need to disclose your personal data to third parties, whether located within or outside United States of America, for one or more of the above Purposes, as such third parties, would be processing your personal data for one or more of the above Purposes. In this regard, you hereby acknowledge, agree and consent that we may/are permitted to disclose your personal data to such third parties (whether located within or outside United States of America) for one or more of the above Purposes and for the said third parties to subsequently collect, use, disclose and/or process your personal data for one or more of the above Purposes. Without limiting the generality of the foregoing or of paragraph 17, such third parties include:
(a)our associated or affiliated organisations or related corporations;
(b)any of our agents, contractors or third party service providers that process or will be processing your personal data on our behalf including but not limited to those which provide administrative or other services to us such as mailing houses, telecommunication companies, information technology companies and data centres; and
(c)third parties to whom disclosure by us is for one or more of the Purposes and such third parties would in turn be collecting and processing your personal data for one or more of the Purposes.
19.You may withdraw your consent for the collection, use and/or disclosure of your personal data in our possession or under our control by contacting us in the Help Center section. We will process your request [within a reasonable time] from such a request for withdrawal of consent being made, and will thereafter not collect, use and/or disclose your personal data in the manner stated in your request, unless an exception under the law or a provision in the law permits us to. However, your withdrawal of consent could result in certain legal consequences arising from such withdrawal, including us being unable to perform the transactions requested by you in the Site.
20.We may collect, use, disclose or process your personal data for other purposes that do not appear above. However, we will notify you of such other purpose at the time of obtaining your consent, unless processing of your personal data without your consent is permitted by the DPA or by law.
21.We may/will also be collecting from sources other than yourself, personal data about you, for one or more of the above Purposes, and thereafter using, disclosing and/or processing such personal data for one or more of the above Purposes. We may combine information we receive from other sources with information you give to us and information we collect about you. We may use this information and the combined information for the Purposes set out above (depending on the types of information we receive).
22.We adopt appropriate data collection, storage and processing practices and security measures to protect against unauthorized access, alteration, disclosure or destruction of your personal data, username, password, transaction information and data stored on our Site.
23.Sensitive and private data exchange between the Site and its Users happens over a SSL secured communication channel and is encrypted and protected with digital signatures. Our Site is functioning in compliance with PCI vulnerability standards in order to create as secure of an environment as possible for Users.
24.We will put in place measures such that your personal data in our possession or under our control is destroyed and/or anonymized as soon as it is reasonable to assume that (i) the purpose for which that personal data was collected is no onger being served by the retention of such personal data; and (ii) retention is no longer necessary for any other legal or business purposes.
25.We do not sell, trade, or rent Usersâ personally identifiable information to others. We may share generic aggregated demographic information not linked to any personally identifiable information regarding visitors and users with our business partners, trusted affiliates and advertisers for the purposes outlined above.
26.You have the right to ask us not to use your personal data for marketing purposes. Please let us know if you want to withdraw your consent by emailing us at Help Center.
27.You have the right to access and/or correct any personal data that we hold about you, subject to exceptions under the law. This right can be exercised at any time by emailing us at Help Center. We will need enough information from you in order to ascertain your identity as well as the nature of your request, so as to be able to deal with your request. With respect to your access request, we may charge a fee in order to process it.
28.For a request to access personal data, once we have sufficient information from you to deal with the request, we will seek to provide you with the relevant personal data within 30 days. Where we are unable to respond to you within the said 30 days, we will notify you of the soonest possible time within which we can provide you with the information requested.
29.For a request to correct personal data, once we have sufficient information from you to deal with the request, we will correct your personal data within 30 days. Where we are unable to do so within the said 30 days, we will notify you of the soonest practicable time within which we can make the correction. We will send the corrected personal data to every other organization to which the personal data was disclosed by us within a year before the date the correction was made, unless that other organization does not need the corrected personal data for any legal or business purpose.
30.We hold and deal with your data in accordance with the DPA.
31.If you have any complaint or grievance regarding about how we are handling your personal data or about how we are complying with the DPA (when in force), we welcome you to contact us with your complaint or grievance.
32.Please contact us with your complaint or grievance by emailing us at Help Center section.
33.Where you are sending an email in which you are submitting a complaint, your indication at the subject header that it is a DPA complaint would assist us in attending to your complaint speedily by passing it on to the relevant staff in our organization to handle. For example, you could insert the subject header as âDPA Complaintâ.
34.We will certainly strive to deal with any complaint or grievance that you may have speedily and fairly.
Changes to this privacy policy
35.Bitfex has the discretion to update this privacy policy at any time. We encourage Users to frequently check this page for any changes to stay informed about how we are helping to protect the personal information we collect. You acknowledge and agree that it is your responsibility to review this privacy policy periodically and become aware of modifications.
36.By using this Site, you signify your acceptance of this policy and Terms of Use. If you do not agree to this policy, please do not use our Site.
37.Your consent that is given pursuant to this Privacy Policy is additional to and does not supercede any other consents that you had provided to Bitfex with regard to processing of your personal data.
38.For the avoidance of doubt, in the event that United States of America data protection law permits an organisation such as us to collect, use or disclose your personal data without your consent, such permission granted by the law shall continue to apply.
If you have any queries on this Privacy Policy or any other queries in relation to how we may manage, protect and/or process your personal data, please do not hesitate to contact our Data Protection Officer.
The trading of goods and products, real or virtual, as well as virtual currencies involves significant risk. Prices can and do fluctuate on any given day. Due to such price fluctuations, you may increase or lose value in your assets at any given moment. Any currency - virtual or not - may be subject to large swings in value and may even become worthless. There is an inherent risk that losses will occur as a result of buying, selling or trading anything on a market.
Bitcoin trading also has special risks not generally shared with official currencies or goods or commodities in a market. Unlike most currencies, which are backed by governments or other legal entities, or by commodities such as gold or silver, Bitcoin is a unique kind of "fiat" currency, backed by technology and trust. There is no central bank that can take corrective measure to protect the value of Bitcoins in a crisis or issue more currency.
Instead, Bitcoin is an as-yet autonomous and largely unregulated worldwide system of currency firms and individuals. Traders put their trust in a digital, decentralized and partially anonymous system that relies on peer-to-peer networking and cryptography to maintain its integrity.
Bitcoin trading is probably susceptible to irrational (or rational) bubbles or loss of confidence, which could collapse demand relative to supply. For example, confidence might collapse in Bitcoin because of unexpected changes imposed by the software developers or others, a government crackdown, the creation of superior competing alternative currencies, or a deflationary or inflationary spiral. Confidence might also collapse because of technical problems: if the anonymity of the system is compromised, if money is lost or stolen, or if hackers or governments are able to prevent any transactions from settling.
There may be additional risks that we have not foreseen or identified in our Terms of Use.
You should carefully assess whether your financial situation and tolerance for risk is suitable for buying, selling or trading Bitcoins.
01
These Terms of Use contain an electronic agreement between you (hereinafter the âUserâ) and Bitfex Financial Company OÃ, a company registered in the Republic of Estonia, (hereinafter the â Bitfexâ) regulating the terms and conditions of the User's use of this website and all services, products and content provided by Bitfex Financial Company OÃ.
02
These Terms of Use contain important provisions, which the User must consider carefully and understand when choosing whether to visit the Site and use the services, products and content of Bitfex Financial Company OÃ. Please read these Terms of Use carefully before agreeing to them.
03
References in these Terms of Use to ' Bitfex Financial Company OÃ', 'we', 'our' or 'us', are to the company Bitfex Financial Company OÃ, including but not limited to, its employees, directors, officers, agents or other related parties, third parties, whose content is offered on this website and/or in Bitfex Software, depending on the context, and references to âUserâ, 'you' or 'your' are to the person with whom Bitfex Financial Company OÃ enters into the electronic agreement, unless otherwise provided herein.
04
The User is solely responsible for understanding and complying with any and all laws, rules and regulations of his/her specific jurisdiction that may be applicable to the User in connection with the use of any and all services, products and content of Bitfex Financial Company OÃ.
05
By signing up to use an account through Bitfex Financial Company OÃ or any of our associated websites, APIs, or mobile applications(collectively the ' Bitfex Software') and/or by using Bitfex Software, you agree that you have read, understood, and accept all of the terms and conditions contained in these Terms of Use, as well as our Privacy Policy and our anti money laundering policies and procedures. The User has to read and to understand the entire Terms of Use carefully before each using the Site and/or any of the Services provided by Bitfex Financial Company OÃ.
06
IF THE USER DOES NOT ACCEPT AND/OR UNDERSTANDS THESE TERMS OF USE, THE USER SHALL NOT ACCESS THIS SITE AND SHALL NOT USE ANY OF Bitfex SOFTWARE, SERVICES, PRODUCTS AND CONTENT.
07
You should be aware that the risk of loss in trading or holding Digital Currencies can be high. Digital currency services are not currently regulated in most countries (by financial authorities or any other regulator). You should therefore carefully consider whether trading or holding Digital currencies is suitable for you in light of your financial condition and possible risks.
Terms used in these Terms of Use shall be interpreted in accordance with the definitions provided below:
Account: means an account registered by the User on the Platform and/or on the Bitfex Software.
"Base Currency" means the currency pair's first currency.
Buyer: means the User who makes an Order to buy Cryptocurrencies through the Platform ( Bitfex Software) and/or the User whose Order is accepted by the Seller depending on the context.
Commission: means a fee charged by or on behalf of any third party (e.g. bank, non-bank financial institution, payment service provider, etc).
Cryptocurrency: means peer-to-peer decentralized digital representation of value (bitcoins, ethers, etc.).
Deposit: means a Transaction involving transfer of Funds to the Account.
External Wallet: means a Cryptocurrency or Fiat wallet that is not part of the Bitfex Financial Company OÃ platform ( Bitfex software) but which can be indicated on the Bitfex Financial Company OÃ platform ( Bitfex software).
Fiat currency: means government-issued currency, which is regulated in its country of issuance through government regulation or law.
Fiat currency storage service: means Bitfex Financial Company OÃ, which includes storing of balances in Fiat currency on External Wallets of Users serving by the Holder.
Order: means the User's offer on the Bitfex Financial Company OÃ platform ( Bitfex Financial Company OÃ Software) to buy or sell Cryptocurrency on certain conditions.
Platform: means an appropriate environment (including software) created by Bitfex Financial Company OÃ that allows to trade Cryptocurrencies.
Closing a position: Closing a position means either buying or selling of Cryptocurrency, which essentially results in reduction of client's open position. Closing a position means bringing a transaction to an end, incurring any related profits or losses as a result.
Seller: means the User who submits an Order to sell Cryptocurrencies through the Platform ( Bitfex Software) and/or the User whose Order is accepted by the Buyer depending on the context.
Services: means all and any service provided by Bitfex Financial Company OÃ.
Website or Site: means Bitfex Financial Company OÃ website at https:// Bitfex.com.
Storage service: means Bitfex Financial Company OÃ, which includes storing of balances (in Fiat currency and/or in Cryptocurrency) from the abandoned Accounts, no longer supported cryptocurrencies.
Transaction fee: means a fee which is payable to Bitfex Financial Company OÃ for each completed Transaction.
Transaction Price: means the total price paid by the User in respect to each Transaction performed via the Platform ( Bitfex Financial Company OÃ Software).
Transaction: means (i) transfer of Cryptocurrencies or Fiat currencies by the User to his/her Account ("Deposit Transaction"), including transfer of Fiat currencies to External Wallet that is not part of the Bitfex Financial Company OÃ platform ( Bitfex Software) but which is indicated on the Bitfex Financial Company OÃ platform ( Bitfex software); (ii) transfer of Cryptocurrencies, or Fiat currencies among the Users ("Trading Transaction"), including transfer of Fiat currencies to External Wallet that is not part of the Bitfex Financial Company OÃ platform ( Bitfex Software) but which is indicated on the Bitfex Financial Company OÃ platform ( Bitfex software), (iii) withdrawal of Cryptocurrencies or Fiat currencies from his/her Account ("Withdrawal Transaction").
User: means a person or an entity that uses the Services, agrees to follow the Terms of Use and is a holder of an Account.
Voucher: means an alphanumeric redeemable code, which can be used to transfer Cryptocurrency or between Accounts.
Withdrawal: means a Transaction involving a transfer of Funds from the User's Account to his/her bank account or to an account opened in any other institution.
Where the context so admits words denoting the singular shall include the plural and vice versa.
01
The Services allow all Users of the Platform (with limitations mentioned in these Terms of Use) to trade Cryptocurrencies with other Users.
02
Depending on the Userâs place of residence (and/or other legal facts), the User may not be able to use all the functions of the Site. It is the Userâs responsibility to follow those rules and laws in his/her place of residence and/or place from which the User accesses this Site. The User must understand that technical possibility to use the appropriate Services on the Platform ( Bitfex Financial Company OÃ Software) doesnât mean that such the using is legal for him/her. The User is solely responsible for understanding and complying with any and all laws, rules and regulations of his/her specific jurisdiction that may be applicable to the User in connection with the use of any and all services, products and content of Bitfex Financial Company OÃ.
03
The User acknowledges and agrees that, when completing Trading Transactions, he/she is trading with other Users, and that Bitfex Financial Company OÃ acts only as a provider of technical services (the Platform and/or Bitfex Financial Company OÃ Software) in such Transactions, not as the counterparty to any trade.
01
Bitfex Financial Company OÃ undertakes to provide the Services with the appropriate effort, due care and in accordance with these Terms of Use. Bitfexâs responsibility shall be limited to using reasonable technical efforts to ensure the receipt of the cryptocurrency transferred. When initiating cryptocurrency transactions to a user who is not the Bitfex Financial Company OÃ User, Bitfex Financial Company OÃ responsibility shall be further limited to ensuring the transfer of the necessary technical data to the cryptocurrency network.
02
To the extent permitted by law, Bitfex Financial Company OÃ is not responsible for any damages, loss of profit, loss of revenue, loss of business, loss of opportunity, loss of data, indirect or consequential loss unless the loss suffered is caused by a breach of the Terms of Use by Bitfex Financial Company OÃ.
03
Bitfex Financial Company OÃ has the right to suspend the Userâs Account and block all and/or part of cryptocurrency contained therein in case of non-fulfillment or unduly fulfillment of the Terms of Use by the User.
04
Bitfex Financial Company OÃ is not responsible: - for the delay in the processing of payments made by the fault of any third parties, operators of such transactions. - for any malfunction, breakdown, delay or interruption of the Internet connection or any reason why our site is unavailable at any given time.
05
In the case of fraud, Bitfex Financial Company OÃ undertakes to report all the necessary information, including names, addresses and all other requested information, to the relevant authorities dealing with fraud and breaches of the law. The Users recognize that their account may be frozen at any time at the request of any competent authority investigating a fraud or any other illegal activity.
06
Nothing in these terms excludes or limits the responsibility of Bitfex Financial Company OÃ for fraud, death or personal injury caused by their negligence, breach of the terms implied by operation of the law or any other liability which may not be limited or excluded by law.
07
All buy and sell orders made on the Platform, will be managed in an anonymous manner so that Buyers and Sellers are not acquainted with each other. The Transaction Price is calculated on the basis of actual matched orders made by the Buyers and Sellers participating in the bidding process on the Platform combined with the applicable Transaction fees.
08
Bitfex Financial Company OÃ represents and warrants that once the orders to buy or sell Cryptocurrencies match, such orders may not be cancelled or reversed. It holds all Cryptocurrencies acquired by each User in his/her Account and on the respective User's behalf. Bitfex Financial Company OÃ reserves the right to cancel orders/trades obviously made by mistake (in particular if the price of the order/trade due to mistake is clearly very different from the market price, orders/trades obviously made due to lags of Userâs equipment etc.) The cancelation can only be made based on request of interested User and only if an appropriate technical possibility exists in case if mistake made is absolutely obvious. This right couldnât be considered as an obligation and/or a guaranty of Bitfex Financial Company OÃ
09
Bitfex Financial Company OÃ does not provide any financial, investment or legal advice in connection with the Services provided by Bitfex Financial Company OÃ. Bitfex Financial Company OÃ may provide information on the price, range, volatility of Cryptocurrencies and events that have affected the price of Cryptocurrencies and/or links to trading ideas of third parties (persons), but it should not be considered as an investment or financial advice and should not be construed as such. Any decision to buy or sell Cryptocurrencies is the Userâs decision and Bitfex Financial Company OÃ will not be liable for any loss suffered.
01
The User has the right to enter and/or use the Site and the Services, as long as he/she agrees to and actually complies with the Terms of Use. By using the Site, the User agrees to accept and comply with the terms and conditions stated herein.
02
The User has to comply with any and all applicable laws and regulations related to the use of the Services.
03
The User has to monitor all and any changes on his/her Account. The User has to inform Bitfex Financial Company OÃ immediately about any unusual, suspicious, not sanctioned, abnormal changes on his/her Account. In case of late informing or non-informing the User will be liable for the breach of the Terms of Use and Bitfex Financial Company OÃ will have the right to take any further steps accordingly, including but not limited to report to the relevant state or national authorities.
04
The User agrees that, whenever the Transaction is made, the Platform sends and receives the cryptocurrencies to/from the Buyerâs and the Sellerâs Accounts.
05
The User has to inform Bitfex Financial Company OÃ immediately of any unauthorized use of his/her Account or password, or any other breach of security by email addressed to address, mentioned on the Site. Any User who violates the mentioned rules may be terminated, and thereafter held liable for any losses incurred by Bitfex Financial Company OÃ or any user of the Site.
06
The User undertakes not to use the Service to perform criminal and/or not legal activity of any sort, including but not limited to, money laundering, illegal gambling operations, financing terrorist organizations, or malicious hacking.
07
The User is responsible for any and all damages caused, and all liability actions brought against Bitfex Financial Company OÃ for infringement of any third-party rights or violation of any applicable laws. Nothing in the Terms of Use excludes or limits the liability of the User for fraud, penalties any other negative consequences, caused by their negligence, breach of the terms implied by operation of law or any other liability which may not be limited or excluded by law.
08
Users are solely responsible for determining whether any contemplated Transaction is appropriate for them based on their personal goals, financial status and risk willingness.
09
All added payment instruments to your Account, may it be a bank account, credit card, debit card, or others must be personalized and owned by the Account holder. Any attempt otherwise will (or can) be recognized as fraud.
10
By registering an Account, the User expressly represents and warrants that he/she: follows the rules and laws in his/her country of residence and/or country from which he /she accesses this Site and Services; has accepted these Terms of Use; is at least 18 years old and has the right to accept these Terms of Use and participate in transactions involving cryptocurrencies.
11
The User represents and warrants that he/she will only use the Platform to perform Transactions in accordance with the conditions set forth in these Terms and that they are duly authorized and have the capacity to enter into the Transactions on the Platform.
12
The User represents and warrants that both currencies deposited (indicated on the Platform basing the information from External wallet) to(on) the Account belong to the User and derived from legal sources.
13
The User represents and warrants than he/she will withdraw any cryptocurrency from his/her Account only to his/her wallets, otherwise Bitfex Financial Company OÃ does not hold any liability for the consequences of such withdrawal. A mistake in requisite of the Userâs wallet while transaction may cause the loss of appropriate currencies without any responsibility and/or coverage from Bitfex Financial Company OÃ.
14
The User represents and warrants that all Transactions being carried out do not violate the rights of any third party or applicable laws.
15
The User understands that his personal data may be shared due to legal obligations etc. It may be used according to our Privacy policy.
16
The User undertakes to pay all his/her taxes and duties, which can be resulted from the use of Bitfex Financial Company OÃ Services and should be paid according to the Userâs state of residence regulations. Bitfex Financial Company OÃ is not responsible for any violation made by the User due to his/her obligation to calculate and pay taxes and duties. The User has to refrain from transactions on the Platform related to tax offences and/or violations.
17
ATTENTION TO RESIDENTS OF UNITED STATES OF AMERICA OR ANY JURISDICTION OR COUNTRY WHERE INITIAL DISTRIBUTION OR SECONDARY TRADING OF CERTAIN TOKENS (TRADED ON THIS PLATFORM AND/OR ON THE Bitfex SOFTWARE) WOULD (I) BE CONTRARY TO ANY LAW OR REGULATION, OR (II) WHICH WOULD OBLIGE (WOULD SUBJECT) AN ISSUER AND/OR SELLER OF SUCH TOKENS (TRADED ON THIS PLATFORM AND/OR ON THE Bitfex SOFTWARE) AND/OR Bitfex Financial Company OÃ AND/OR ENTITY(INCLUDING AFFILIATES) CREATING/MAINTAINING THIS WEBSITE TO ANY REGISTRATION,LICENSING OR OTHER AUTHORIZATION REQUIREMENT WITHIN SUCH JURISDICTION OR COUNTRY:
THE APPROPRIATE TOKENS, TRADED ON THIS PLATFORM AND/OR ON THE Bitfex SOFTWARE, (IN PARTICULAR, TOKENS WHICH COULD BE CONSIDERED AS SECURITIES BY SEC) IS NOT INTENDED FOR PURCHASE AND/OR USE AND/OR DISTRIBUTION TO, OR USE BY,ANY PERSON OR ENTITY IN ANY JURISDICTION OR COUNTRY, WHERE SUCH PURCHASE AND/OR DISTRIBUTION AND/OR USE WOULD BE CONTRARY TO ANY LAW OR REGULATION,OR WHICH WOULD OBLIGE (WOULD SUBJECT) AN ISSUER AND/OR SELLER OF SUCH TOKENS (TRADED ON THIS PLATFORM AND/OR ON THE Bitfex SOFTWARE) AND/OR Bitfex Financial Company OÃ AND/OR ENTITY (INCLUDING THEIR AFFILIATES)CREATING/MAINTAINING THIS WEBSITE TO ANY REGISTRATION, LICENSING OR OTHER AUTHORIZATION REQUIREMENT WITHIN SUCH JURISDICTION OR COUNTRY.
01
All content on this Site is the property of Bitfex Financial Company OÃ and is protected by copyright, patent, trademark and any other applicable laws, unless otherwise specified hereby.
02
The trademarks, trade names, service marks and logos of Bitfex Financial Company OÃ and others used on the Site (hereinafter the âTrademarksâ) are the property of Bitfex Financial Company OÃ. The software, applications, text, images, graphics, data, prices, trades, charts, graphs, video and audio materials used on this Site belong to Bitfex Financial Company OÃ. The Trademarks and other content on the Site may not be copied, reproduced, modified, republished, uploaded, posted, transmitted, scraped, collected or distributed in any form or by any means, no matter manual or automated. The use of any content from the Site on any other site or a networked computer environment for any other purpose is strictly prohibited; any such unauthorized use may violate copyright, patent, trademark and any other applicable laws and could result in criminal or civil penalties.
01
Withdrawal of funds from the Bitfex exchange is possible only to verified addresses
02
The minimum deposit amount for verifying a bitcoin address is 0.0083 BTC, for an Ethereum address it is 0.12 ETH, for a Litecoin address it is 4 LTC. All funds deposited for verification are sent to the user's address and become available for withdrawal immediately after verification.
03
The address of a Premium status user is considered as fully verified and has no limits on withdrawals and deposits. Limitations are not in effect for the duration of the Premium status.
01
A user with a Premium status receives a 50% discount on all the fees of the exchange.
02
A user with a Premium status has no limits on withdrawals or deposits.
03
A user who has deposited more than 0.026 BTC or 0.4 ETH or 11 LTC in one transaction receives Premium status for 1 week.
04
A user who has deposited more than 0.5 BTC or 7 ETH or 200 LTC into his account in a week receives Premium status for 1 month.
05
A user whose account has been registered for more than 1 year and who made at least 1 transaction every month receives Premium status automatically for 1 year.
01
The Site is for the Userâs personal and non-commercial use only. Bitfex Financial Company OÃ is vigilant in maintaining the security of the Site and the Service. By registering with Bitfex Financial Company OÃ, the User agrees to provide Bitfex Financial Company OÃ with actual (up to date), accurate and complete personal information as prompted by the registration process and to keep such information updated.
02
The User is allowed to register only one Account on the Platform. Thus, any additional Account may be suspended.
03
The User agrees that he/she will not use any Account other than their own or access the Account of any other User at any time, or assist others in obtaining unauthorized access.
04
Bitfex Financial Company OÃ reserves the right to recommend amount limits for the Account funding/withdrawal. Bitfex Financial Company OÃ could recommend daily, monthly and per one-transaction amount limits but is not obliged to do it.
05
The User is responsible for maintaining the confidentiality of information on their Account, including, but not limited to their password, email, wallet address, wallet balance and of all activities including Transactions made via their Account. If there is any suspicious activity related to the Userâs Account, Bitfex Financial Company OÃ may request additional information from the User, including authenticating documents and freeze the Account for the review time. The User is obligated to comply with these security requests or accept termination of their Account.
06
Creation or use of the Accounts without obtaining a prior permission from Bitfex Financial Company OÃ will result in the immediate suspension of all respective Accounts, as well as all pending buy/sell orders. Any attempt to do so or to assist others (Users or other third parties), or distribution of instructions, software or tools for that purpose will result in termination of such Usersâ Accounts. Termination is not an exclusive remedy for such a violation and Bitfex Financial Company OÃ may decide to take further action against the User.
07
In case if it has been more than six (6) month since the User signed in with his/her Account or made the Funds deposit, Bitfex Financial Company OÃ has the right to qualify this Account as abandoned. In that case Storage fee will be applied to such Account with ten (10) days prior email notification to the User. Bitfex Financial Company OÃ will charge the Storage fee set forth herein. Abandoned Accounts with zero balances may be deactivated.
01
The Platform allows the User to submit the Orders to buy or sell Cryptocurrencies.
02
The User recognizes that the Order should only be submitted after careful consideration and the ser understands and accepts consequences of its execution. The User agrees that as soon as the Order is executed, such transaction is irreversible and may not be cancelled. Transactions will be executed instantly upon the matching of the Buyer's and the Seller's Orders without prior notice to the Seller and the Buyer and will be considered to have taken place at the execution date and time.
03
The User acknowledges and agrees that in case the destination tag is not specified, is incorrectly indicated(in particular XRP, XLM) or the reference number is incorrectly specified, the User may lose the deposit or at least the processing speed of such requests will be made with low priority.
04
Minimum and maximum order amount vary for each trading pair and can be seen on the Trade Page when placing an Order.
05
The User acknowledges and agrees that Deposit and Withdrawal Transaction may be delayed due to some verifications and checks (performed by Bitfex Financial Company OÃ or appropriate third parties). Similarly, and due to the inherent nature of the cryptocurrency networks, the User acknowledges and agrees that depositing and withdrawing Cryptocurrencies into/from their Account may take some time.
06
Unverified users are not allowed to withdraw any Cryptocurrencies from their Account until the verification process has been completed
07
The User can use Vouchers to transfer Cryptocurrencies between the Accounts (if applicable on the Platform). The Voucher should be redeemed before its expiration date set by Bitfex Financial Company OÃ. Bitfex Financial Company OÃ shall not be liable and shall not accept any liability, obligation or responsibility whatsoever for any loss or damage arising from the User's use of the Vouchers purchased from any third parties or acquired in any other way. To avoid doubts, the User is solely responsible for ensuring that the Voucher they acquired is genuine and redeemable.
08
In case if the User discovers transaction activity, including but not limited to unknown deposits and withdrawals, on their Account that was not initiated by the User, the User shall immediately notify Bitfex Financial Company OÃ of this fact and follow the instructions sent by Bitfex Financial Company OÃ. Otherwise, Bitfex Financial Company OÃ reserves the right to freeze the Account until the end of investigation.
09
Bitfex Financial Company OÃ may be forced to cancel or recall already executed Withdrawal Transaction at a request of financial institutions, including but not limited to banks, which are involved in settlement of such Transactions. In such cases the User obliges to cooperate with Bitfex Financial Company OÃ in order to discover the reasons for such request
10
Bitfex Financial Company OÃ reserves the right to set the minimal and/or maximal deposit amount for Cryptocurrencies hold by the User on the Platform. If the amount is less and/or higher than specified, the funds will not be credited to the User's Account.
01
The User agrees to pay Bitfex Financial Company OÃ the Transaction fee for each completed Transaction.
02
The Transaction fee amount is automatically charged off in the currency indicated on the Platform after the relevant Transaction.
03
The minimal transaction fee equals to minimal currency amount. The Transaction fee is charged with a rounding in the favor of the Platform. The rounding policy for cryptocurrencies varies depending on cryptocurrency.
04
For the purpose of the processes optimization, transactions on the Platform with regard to some items (including, but not limited to currencies, cryptocurrencies, etc.) may not be indicated at the Userâs Account and will appear as soon as a unit is whole in accordance with the rounding standards.
05
Minimal and maximal price, as well as minimal and maximal order amount vary for each trading pair and can be seen on the Trade Page when placing an order.
06
The Transaction fee, other charges, as well as the charge procedure can be changed/reviewed unilaterally by Bitfex Financial Company OÃ from time to time and such changes shall become effective the moment they are posted on the Site.
07
Currently, Bitfex charges a fee of 3% for each deposit that goes to the user's balance. Network fees (including, without limitation âminerâs feesâ) required to use a Virtual Currency network may apply to a transaction. We may attempt to calculate such a fee for you. Our calculation may not be sufficient, or it may be excessive. You may select a greater or lesser fee. You are solely responsible for paying any such fee and Bitfex will neither advance nor fund such a fee on your behalf, nor be responsible for any excess or insufficient fee calculation.
01
Bitfex Financial Company OÃ reserves the right to suspend or terminate your Bitfex Financial Company OÃ Account at any time if we reasonably believe to be required to do so by the law or in order to comply with recommendations issued by a relevant government authority or recognized body for the prevention of financial crime.
02
It is strictly forbidden to use the Account for any illegal purposes. Bitfex Financial Company OÃ will report any suspicious activity to the relevant law enforcement.
03
The User shall ensure that they do not use the Services for the transactions relating to:
money laundering, terrorist financing, proliferation of weapons of mass destruction;
human trafficking;
any goods or services that are illegal or the promotion, offer or marketing of which is illegal or that are offered in connection with illegal, obscene or pornographic content, depict children or minors in sexual postures, depict means of propaganda or signs of unconstitutional organizations glorifying war or violating human dignity;
any goods or services, promotion, offer or marketing of which would violate copyrights, industrial property rights or other rights of any person;
archeological findings;
drugs, narcotics or hallucinogens;
weapons of any kind;
illegal gambling services;
Ponzi, pyramid or any other âget rich quickâ schemes;
goods that are subject to any trade embargo;
media that is harmful to minors and violates laws and, in particular, the provision in respect of the protection of minors;
body parts or human remains;
protected animals or protected plants;
weapons or explosive materials;
or any other illegal goods, services or transactions.
01
Users residing in a country with an increased risk of illegal financial transactions must pay an insurance fee to the balance of one of their wallets in case technical support requires this
02
Funds deposited as an insurance fee are kept on the user's balance for 7 days. If no complaints are received on the user account or on his wallets, the funds will be unfrozen and become available for withdrawal.
03
The amount of the insurance fee is calculated for each user individually.
14. FRAUD DETECTION
01
Bitfex Financial Company OÃ determines the list of countries classified as countries with an increased risk of illegal financial transactions at its discretion. Bitfex Financial Company OÃ does not undertake to publish a list of countries with an increased risk of illegal financial transactions.
02
Bitfex Financial Company OÃ reserves the right to check any transaction for fraud. Services from third parties can be used to verify the transaction.
01
The User is responsible for maintaining the confidentiality of their Accountâs credentials, including, but not limited to a password, email, wallet address, balance and of all activity including Transactions made through the Account.
02
Bitfex Financial Company OÃ personnel will never ask the User to disclose their password. Any message the User receives or website that he/she visits that asks for the password, other than the Bitfex Financial Company OÃ Site, should be reported to Bitfex Financial Company OÃ. Before each using of the Website the User has to check (ensure) that he is using a genuine website.
03
We advise to change the Userâs password regularly in order to reduce the risk of a security breach in relation to the Account. The User must never allow anyone to access his/her Account or watch the User accessing his/her Account. If the User has any security concerns concerning his/her Account, login details, (password or other security feature being lost, stolen, misappropriated, used without authorization or otherwise compromised), the User is advised to change the password immediately. The User must contact support service without undue delay on becoming aware of any loss, theft, misappropriation or unauthorized use of the Account, login details, password or other security features. Any undue delay in notifying Bitfex Financial Company OÃ may not only affect the security of the Account but may result in the User being liable for any losses as a result. If the User suspects that someone else accessed his/her Account, the User should also contact an appropriate government agency and report the incident.
04
The User must take reasonable care to ensure that his/her e-mail account(s) are secure and only accessed by the User, as his/her e-mail address may be used to reset passwords or to communicate with the User about the security of the Account. Bitfex Financial Company OÃ cannot be liable for the breach of an e-mail account resulting an unauthorized Transaction to be executed with proper confirmation. In case any of the e-mail addresses registered with the Userâs Accounts are compromised, the User should without undue delay after becoming aware of this contact Support Service and also contact his/her e-mail service provider.
05
Irrespective of whether the User is using a public, a shared or his/her own computer to access the Account, the User must always ensure that his/her login details are not stored by the browser, cached or otherwise recorded. The User should never use any functionality that allows login details or passwords to be stored by the computer he/she is using.
06
Additional products or services the User uses may have additional security requirements and the User must familiarize with those as notified to him/her.
07
We strictly recommend to use additional authentication options of the Platform.
01
The User may terminate the Terms of Use and close their Account at any time, following settlement of any pending transactions.
02
The User also agrees that Bitfex Financial Company OÃ may, by giving notice, at its sole discretion terminate his/her access to the Site and to his/her Account, including without limitation, our right to: limit, suspend or terminate the service and the Users' Accounts, prohibit access to the Site and its content, services and tools, delay or remove hosted content and take technical and legal steps to keep the User off the Site if we think that he/she or his/her activity/deeds linked to illegal activity, infringing the intellectual property rights of third parties or acting inconsistently with the letter or spirit of these Terms. Additionally, we may, in appropriate circumstances and at our discretion, suspend or terminate Account of User for any reason, including without limitation: (1) attempts to gain unauthorized access to the Site or another User's account or providing assistance to others' attempting to do so, (2) overcoming software security features limiting use of or protecting any content, (3) usage of the Service to perform illegal activities such as money laundering, illegal gambling operations, financing terrorism, or other criminal activities, (4) violations of these Terms of Use, (5) failure to pay or fraudulent payment for Transactions, (6) unexpected operational difficulties, or (7) upon the request of law enforcement or other government agencies, if deemed to be legitimate and compelling by Bitfex Financial Company OÃ, acting at its sole discretion.
03
Bitfex Financial Company OÃ also reserves the right to cancel unconfirmed Accounts or Accounts that have been inactive for a period of six (6) months or more and/or to modify or discontinue our Site or Service. The User agrees that Bitfex Financial Company OÃ will not be liable to them or to any third party for termination of their Account or access to the Site.
04
The suspension of the Account shall not affect the payment of the Transaction fees due for past Transactions. Upon termination, the User shall provide a valid account details or cryptocurrency address to allow the transfer of any currencies deposited to his/her Account. Bitfex Financial Company OÃ shall transfer the currencies as soon as possible following the User's request in the time frames specified by Bitfex Financial Company OÃ. If account is suspended because of detection of illegal or criminal activity transfer may be delayed for the time necessary for appropriate investigation of an appropriate authorities.
01
All Services are provided âAS ISâ, without guarantees of any kind, either expressed or implied.
02
Bitfex Financial Company OÃ will strive to keep the Site up and running; however, all online services suffer from occasional disruptions and outages and Bitfex Financial Company OÃ is not liable for any disruption or loss the User may suffer as a result. Thus, Bitfex Financial Company OÃ does not provide any guarantees that access to the Site will not be interrupted or that there will be no delays, failures, errors, omissions or loss of transmitted information.
03
Bitfex Financial Company OÃ will use reasonable efforts to ensure that the User can normally access the Site in accordance with the Terms of Use. Bitfex Financial Company OÃ may suspend use of the Site for maintenance and will make reasonable efforts to give the User a notice. The User acknowledges that this may not be possible in an emergency.
In order to ensure a stability of the Platform API requests maybe reasonably limited by Bitfex Financial Company OÃ at our discretion. If this limit is exceeded, it may result to the ban for reasonable time.
19. WIDGETS AND MOBILE APPLICATIONS
01
Bitfex Financial Company OÃ may provide widgets for the Userâs use to put our data on the Userâs Site. The User is free to use widgets in their original unmodified and unaltered state.
02
Bitfex Financial Company OÃ may provide mobile applications (âmobile appsâ), which can be used to get an access to the Account. The use of these mobile apps is the subject to these Terms of Use.
01
Bitfex Financial Company OÃ reserves the right to send notices to and communicate with the User by any means of communication available to Bitfex Financial Company OÃ, considering the contact details provided by the User.
02
The User expressly agrees to receive any notices in electronic form and to be bound by them, if so is required by the Terms of Use.
03
The official information channel of Bitfex Financial Company OÃ is the Website. The Website may contain a links to other official information channels of Bitfex Financial Company OÃ. Nevertheless any recommendation and/or trade idea (even on official channel of Bitfex Financial Company OÃ) donât have a status of official recommendation and/or trade idea of Bitfex Financial Company OÃ.
01
Bitfex Financial Company OÃ Anti-Money Laundering and Know Your Customer Policy (hereinafter - the âAML/KYC Policyâ) is designated to prevent and mitigate possible risks of Bitfex Financial Company OÃ being involved in any kind of illegal activity.
Both international and local regulations require Bitfex Financial Company OÃ to implement effective internal procedures and mechanisms to prevent money laundering, terrorist financing, drug and human trafficking, proliferation of weapons of mass destruction, corruption and bribery and to take action in case of any form of suspicious activity from its Users.
AML/KYC Policy covers the following matters:
Verification procedures.
Compliance Officer.
Monitoring Transactions.
Risk Assessment.
02
Verification procedures
One of the international standards for preventing illegal activity is customer due diligence (âCDDâ).According to CDD, Bitfex Financial Company OÃ establishes its own verification procedures within the standards of anti-money laundering and âKnow Your Customerâ frameworks.
Identity verification
Bitfex Financial Company OÃâs identity verification procedure requires the User to provide Bitfex Financial Company OÃ with reliable, independent source documents, data or information (e.g., national ID, international passport, bank statement, utility bill). For such purposes Bitfex Financial Company OÃ reserves the right to collect Userâs identification information for the AML/KYC Policy purposes.
Bitfex Financial Company OÃ will take steps to confirm the authenticity of documents and information provided by the Users. All legal methods for double-checking identification information will be used and Bitfex Financial Company OÃ reserves the right to investigate certain Users who have been determined to be risky or suspicious.
Bitfex Financial Company OÃ reserves the right to verify Userâs identity in an on-going basis, especially when their identification information has been changed or their activity seemed to be suspicious (unusual for the particular User). In addition, Bitfex Financial Company OÃ reserves the right to request up-to-date documents from the Users, even though they have passed identity verification in the past.
Userâs identification information will be collected, stored, shared and protected strictly in accordance with the Bitfex Financial Company OÃâs Privacy Policy and related regulations. Once the Userâs identity has been verified, Bitfex Financial Company OÃ is able to remove itself from potential legal liability in a situation where its Services are used to conduct illegal activity.
03
Compliance Officer
The Compliance Officer is the person, duly authorized by Bitfex Financial Company OÃ, whose duty is to ensure the effective implementation and enforcement of the AML/KYC Policy. It is the Compliance Officerâs responsibility to supervise all aspects of Bitfex Financial Company OÃâs anti-money laundering and counter-terrorist financing, including but not limited to:
a. Collecting Usersâ identification information.
b. Establishing and updating internal policies and procedures for the completion, review, submission and retention of all reports and records required under the applicable laws and regulations.
c. Monitoring transactions and investigating any significant deviations from normal activity.
d. Implementing a records management system for appropriate storage and retrieval of documents, files, forms and logs.
e. Updating risk assessment regularly.
f. Providing law enforcement with information as required under the applicable laws and regulations.
The Compliance Officer is entitled to interact with law enforcement, which are involved in prevention of money laundering, terrorist financing and other illegal activity.
04
Monitoring Transactions
The Users are known not only by verifying their identity (who they are) but, more importantly, by analyzing their transactional patterns (what they do). Therefore, Bitfex Financial Company OÃ relies on data analysis as a risk-assessment and suspicion detection tool. Bitfex Financial Company OÃ performs a variety of compliance-related tasks, including capturing data, filtering, record-keeping, investigation management, and reporting. System functionalities include:
1) Daily check of Users against recognized âblack listsâ (e.g. OFAC), aggregating transfers by multiple data points, placing Users on watch and service denial lists, opening cases for investigation where needed, sending internal communications and filling out statutory reports, if applicable;
2) Case and document management.
With regard to the AML/KYC Policy, Bitfex Financial Company OÃ will monitor all transactions and it reserves the right to: ensure that transactions of suspicious nature are reported to the proper law enforcement through the Compliance Officer;
request the User to provide any additional information and documents in case of suspicious transactions;
suspend or terminate Userâs Account when Bitfex Financial Company OÃ has reasonably suspicion that such User engaged in illegal activity.
The above list is not exhaustive and the Compliance Officer will monitor Usersâ transactions on a day-to-day basis in order to define whether such transactions are to be reported and treated as suspicious or are to be treated as bona fide.
05
Risk Assessment
Bitfex Financial Company OÃ, in line with the international requirements, has adopted a risk-based approach to combating money laundering and terrorist financing. By adopting a risk-based approach, Bitfex Financial Company OÃ is able to ensure that measures to prevent or mitigate money laundering and terrorist financing are commensurate to the identified risks. This will allow resources to be allocated in the most efficient ways. The principle is that resources should be directed in accordance with priorities so that the greatest risks receive the highest attention.
01
The account address is considered fully verified when making the minimum deposit for verification and after 30 days passed from making that deposit. If the account has received the Premium status, the user gets the opportunity to withdraw funds without limits for the duration of the Premium status.
01
These Terms of Use shall be governed by and construed in accordance with the laws of the Republic of Estonia, unless otherwise expressly provided.
02
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This trading scheme for cryptocurrency exchanges is extremely simple. You buy cryptocurrency on one exchange at a low price and sell it on another exchange for as much as possible.
It is a simple and profitable cryptocurrency trading strategy on an exchange that only requires regular monitoring of exchange rates. However, when counting on the possible earnings, you need to consider the commission that some exchanges charge. If the difference in the exchange rates of one currency on the exchanges is 2-3% or more, the sale can be profitable. If the exchange rate difference is less than 2%, the profit will be minimal or not at all.
Let's say you bought 10 ETH at $210 ($2100) on one exchange, transferred them to your wallet and immediately sold on another exchange for $225 ($2250). Simple math again - your profit will be $150.
It is worth noting that arbitrage on classic exchanges is a less profitable strategy that is available mainly to professionals. It takes a very fast robot to make money using arbitrage on traditional marketplaces. The response delay of the robot should be within 1 microsecond (one millionth of a second).
On crypto exchanges, at least for now, robots that are a thousand times slower can still make money. With a relatively fast and smart algorithm, with this strategy you can earn up to 10% per month.
Bitcoin is a reward for the work done in the form of a code.
Bitcoin is the world's first cryptocurrency (decentralized digital currency). This currency is fundamentally different from all previously created electronic currencies and payment systems. It is not tied to any physical assets or âofficialâ currencies, and the price of a digital coin - bitcoin - is governed solely by market supply and demand.
Bitcoin is also a worldwide payment system through which transactions with this currency can be carried out. Its main difference from traditional payment systems is that the Bitcoin system does not have any control and processing center - all transactions take place exclusively in a network of equal clients.
Bitcoin Cash is a cryptocurrency, a fork of Bitcoin that split from it. Forking from the main branch occurred on August 1, 2017. In 2018, Bitcoin SV peer-to-peer payment system branched off from Bitcoin Cash.
Any user who had Bitcoin at the time of the fork became the owner of an equivalent amount of Bitcoin Cash. To prevent double-spending, Bitcoin Cash transactions use a new signature hashing algorithm that is not valid on the Bitcoin Legacy network. This prevents replay of Bitcoin Cash transactions on the Bitcoin blockchain and vice versa.
The main difference from the "parent" cryptocurrency is the larger block size (8 MB instead of 1 MB), which favorably affects the speed of operations.
So what are the main differences between BCH and BTC? The new currency operates on a protocol similar to bitcoin: SHA-256 hash calculation algorithm; the same reward system and Proof of Work consensus; the same "ceiling" of emission - no more than 21 million coins can be issued But there are also a few key differences: the main difference is the block size increased by 8 times, up to 8 megabytes; the complexity change scheme is different: it does not change every 2016 blocks, like BTC, but every 6 Both currencies use the same Blockchain. Block number 478558 is the last of the common for both projects: the next one, 478559, is generated both in the BTC network and in BCH, but in different formats, which are mutually discarded by the blockchain branches of the "old" bitcoin and its fork. Thus, block 478559 became the first in the history of BCH.
Of the minor innovations of a technical nature, which also give an advantage, it can be noted: implementation of protection against erasure of transactions and their replay; a special type of transaction, where the user is given the opportunity to sign separately the amount of transfers, making payments safe
Ethereum is a decentralized platform with smart contracts: applications that work exactly as programmed without any possibility of downtime, censorship, fraud or third party interference.
These applications run on a custom blockchain, an extremely powerful shared global infrastructure that can move value and represent property ownership.
This allows developers to create markets, keep registers of debts or promises, transfer funds according to instructions given in the past (like a will or a futures contract) and many other things that have not yet been invented, all without a middle man or counterparty risk.
Ether is a necessary element - fuel - for the operation of the Ethereum distributed application platform. It is a form of payment made by clients of the platform for machines performing the requested transactions. In other words, ether is an incentive to ensure that developers write quality applications (wasteful code costs are greater) and that the network remains healthy (people are compensated for their resources).
Tether converts money into digital currency, pegs the value to local currencies such as the US dollar, euro and yen.
As you know, blockchain has a number of advantages over traditional financial institutions as it offers cheap, fast, unlimited transactions without intermediaries. However, the volatility of exchange rates on the blockchain does not allow them to become widespread.
The company combines the technology used by bitcoin with fiat currencies to take advantage of blockchain technology using a currency backed by the US Treasury or the European Central Bank. According to CEO Reeve Collins, the company is digitizing the dollar and bringing that digital dollar to the blockchain.
Tether cryptocurrency is a virtual currency that is tied to real currency. The maintenance of stable quotes and other benefits provided by Tether make it a reliable option for both individuals and companies.
Ripple is the world's only enterprise blockchain solution for global payments. Ripple's developers realized that despite numerous advances in technology, the payment infrastructure we continue to use today was actually built before the Internet took off or even evolved. Since then, he has seen only minimal updates. With Ripple, they are aiming to create a new payment infrastructure that improves reliability and speed while reducing costs.
RippleNet is the Ripple network of payment providers, banks, corporations, and digital asset exchanges. It provides a seamless frictionless experience that allows you to send and receive money worldwide. RippleNet provides connectivity across various payment networks with instant settlement on demand. There is always confidence as you can track funds in real time. To top it off, it has low operating costs and low liquidity costs.
XRP was specifically created for businesses as an on-demand option to provide liquidity in cross-border payments. Banks can use XRP to generate real-time liquidity on demand, without the need to pre-fund nostro accounts. Payment providers use it to enter other markets, improve the speed of payment settlements, or reduce the cost of foreign exchanges. You can buy or exchange XRP in several popular cryptocurrency markets.
Compared to other cryptocurrencies, XRP installs incredibly quickly, taking only four seconds. In comparison, ETH takes two minutes to settle, and BTC takes over an hour. Traditional systems are even worse, three to five days. XRP is also highly scalable, processing 1,500 transactions every second. XRP can even scale to handle the same throughput as Visa. In comparison, ETH only has 15 transactions per second, while BTC only processes three to six.
Litecoin is a blockchain-based cryptocurrency that works similarly to Ethereum and Bitcoin. It is a peer-to-peer internet currency that allows almost zero payments to be received instantly by anyone in the world. It is a decentralized payment network that is not operated by any central authority. The network, like other blockchains, is powered by mathematics. Individuals can control their own finances without relying on third parties such as banks or traditional financial institutions.
One of the first advantages Litecoin has over Bitcoin is its higher transaction volume: the blockchain generates blocks more often, which means that transactions can be processed faster (2.5 minutes, not 10 minutes).
Litecoin is open source software. The software project was released under the MIT/X11 license, which means that users have the right to run, modify and copy the software, and distribute modified versions of the software at their choice. Litecoin has a transparent release process that facilitates independent verification of binaries and their respective source code.
With the help of oracles, it is possible to provide programmable contracts that make payments between two parties after certain criteria are met, without involving an intermediary.
Smart contract securities require feeds of market price data and market reference data such as interest rates. They usually also have to pay existing bank accounts for many of their users, which can only be done through ChainLink, which connects to the existing banking system.
ChainLink's LINK network is the first decentralized oracle network that allows anyone to securely provide smart contracts with access to key external data, OTC payments and any other API capabilities. Anyone with a data feed, a useful off-chain service like local payments or any other API can now provide it directly for smart contracts in exchange for LINK tokens.
ChainLink supports Ethereum, Bitcoin and Hyperledger. Since the project is a decentralized network, users can be rewarded for decentralization, trust, and immutability from using ChainLink oracle.
Day traders are people who live off trading cryptocurrencies and spend most of their time trading. Whether it's buying or selling assets, margin trading or swapping perpetual contracts, they make a dozen different trades every day, hoping to catch favorable price movements. The rewards can be overwhelming, but it can be a little daunting for newbies - especially if you don't know much about technical and fundamental analysis or have little experience in the markets. It can take months or even years of loss before you truly become a successful day trader.
In the cryptocurrency market, day traders have to stick to charts and watch price movements closely. Be prepared to cut losses, break even, and switch frequently to avoid bull or bear traps and losses. As a day trader, you have to befriend cryptocurrency price fluctuations and literally live by them no matter which direction the market is heading. There is a counter trade for every price movement at the pivot point, which is a great opportunity to increase the amount.
Day trading is fast and accurate solutions designed to minimize risk and maximize your profits.Of course, no trader can be 100% right, so be prepared to close positions even with significant losses. Learn to identify possible levels of support and resistance, re-enter your trades at the right time, set targets and also set stop loss, and sooner or later you will develop your day trader skill.
This sophisticated cryptocurrency trading strategy is based on assessing the state of the cryptocurrency market. To use it effectively, it is necessary not only to monitor the situation on the cryptocurrency market, but also to take into account many fundamental factors. Moreover, it is desirable for an investor to follow the macroeconomic situation in the world.
How it works? A trader forms a portfolio of several promising and undervalued, in his opinion, coins. The ideal situation would be to create a balanced portfolio of cryptocurrencies, the value of which will not fall and skyrocket. In this case, a beta-neutral portfolio with respect to bitcoin, where half of the coins directly correlates with BTC and grows with its strengthening, and the other half, on the contrary, grows when the price of "digital gold" falls, may become optimal in this case.
Correct rebalancing of such a portfolio will generate income regardless of the general trend in the market. Keep in mind, however, that assets can correlate differently with Bitcoin at different time periods.
It is very easy to confuse the Last Traded Price with the Market Price for a new user who does not have enough experience in trading. Bitniex has created a dictionary of price terminology that will help novice traders understand.
Limit price: your desired limit order price or best price. Price dependence on the operation performed. A limit order:
Market Price (Taker Price): this is the current price at which an asset or service can be purchased or sold. The market price is the best offer in the order book, which differs for buyers and sellers because the best offer for buyers is the lowest sales order in the book, and the best offer for sellers is the highest purchase offer in the book.
Best Average Market Price is the average price of the best current asks or bids that can fill an order. It will be filled by several opposing orders on the book. A market buy order: several of the lowest asks on the book, a market sell order: several of the highest bids on the book. The average price for filling a market order is the best average price.
Last Traded Price: price for executing the last order in the market. For example, if the last XBTUSD trade was at 10127, then 10127 will be The Last Traded Price. This is a purely historical price, and the market order will not be executed on it.
Having chosen an exchange and a coin, the organizers buy tokens in small portions so as not to provoke a premature rise in the rate. As a rule, these are little-known cryptocurrencies with a low capitalization, in the common people known as shitcoins. Sometimes relatively large cryptocurrencies are used for pump&dump.
After the purchase of the token, the pump starts - its "pumping". In messengers, news feeds, social networks and exchange chats, the rapid growth of the rate is announced and the name of the exchange platform is announced, where the organizers of the scam place and take large orders for the purchase of a token through their bots, raising its quotation. This is the first pump wave.
Most of the major Bitcoin exchanges restrict this activity, and the coins on their listing are rarely suitable for the scheme. But there are popular platforms that support more than two hundred coins - they are the ones that attract scammers in the first place.
Fake news feeds about partnerships, investments, or technology updates are used to warm up buyers. Paid "experts" are connected to the disinformation campaign. "Sensational" information is disseminated mainly through Telegram channels. Moreover, most of these channels directly report the pump, promising profit.
After that, investors are sure: since they know about the pump in advance, they can make money. In fact, they are already victims, and some of them even pay to subscribe to such pump channels.
In the event of a successful advertising campaign, the second wave of the pump begins - third-party investors come and independently influence the growth of the rate. Amid the excitement, the price rises, the organizers sell tokens at an inflated value, after which the cryptocurrency rate returns to its original indicators.
This type of trading occurs in the spot market at the current price. When you are engaged in spot trading, you make a deal at an affordable bid and ask price, which is requested by other market participants. To complete a trade, you need to have available assets to pay for the trade by the settlement date. For example, if you are going to make a purchase of BTC in the amount of $1,500, then you must make a deposit by the date of settlement of at least the specified amount. Usually the date is calculated according to the T + 2 trading day scheme. Otherwise, the exchange will refuse to enter the Bitcoin position.
With margin trading, you borrow funds from a third party to increase your position. Margin and spot trading are different. With margin trading, you do not need the full amount of the transaction to open a position, you just need to have assets that will be on the margin of the position you are going to open. For example, you are going to buy BTC for $1000. Some platforms are ready to provide you with up to 100x leverage. That is, you only need $10 on your account to trade Bitcoin for $1,000 BTC. To keep a position open, you only need to hold 1% (with 100x leverage) of the contract amount. Depending on the course of the trade, you can open even more positions or withdraw profits.
Spot Trading: benefits Management of risks: trading occurs only with your own balance, which you actually own, that is, the impossibility of going into a negative. Guarantee: spot trading takes place only on own assets. In this way, the exchange ensures that you avoid over-leveraging.
Spot Trading: limitations Missed trading opportunities: even with confidence in the deal, you will not be able to earn 100% or more, you will only be able to earn the amount that your capital allows.
Margin Trading: benefits Possibility of increasing profits: the presence of leverage allows you to increase your trade up to 100 times in comparison with your capital. Low-frequency trading: an increased likelihood of trades identified in this type of trading.
Margin Trading: limitations Risks: Opportunity to lose more money than the initial investment. Liquidation: complete liquidation of a position with insufficient funds to cover losses.
It all depends on your usual trading style and your character: are you tolerant of risks, what knowledge about investing you have. Choose the strategies that are right for you.
If you want to get into crypto trading, you better learn at least the basics of technical analysis. While looking at charts, drawing lines, and identifying key price levels may seem silly at first glance, it is actually one of the best weapons you can have at your disposal, and it is definitely better than having nothing.
True, key levels and prices largely follow established methods of technical analysis, but crypto trading is a rebellious Wild West: volatility, markets move quickly, and they are more prone to price manipulation. Hence, the knowledge base that you might bring from other markets must be adapted to the cryptocurrency through your own experiences, lessons, drastic and decisive actions, and appropriate risk management techniques.
While it may sound daunting, cryptocurrency combined with adequate TA techniques can lead to many profitable opportunities.
If you are quick-witted and vigilant about your trades and strategies, you are likely to have a fun and profitable pastime.
Tools you can use to help you make decisions:
A wallet is a digital place where you can store cryptocurrency coins. A wallet address is a randomly generated combination of digits and letters that is associated with a particular wallet. Just figure out what coin has itâs unique wallet address. Go to Personal area â Transfer and look for a compatible wallet for Bitcoin, Bitcoincash, Ethereum. As a rule, each coin has its official wallet client.
Yes, but in this case, crediting of funds may take longer. If you wish to send cryptocurrency coins outside the platform, please, use Personal Area â Withdraw
In any transaction there is always a sender and a recipient. The recipientâs address is the wallet address where you will send the currency. For example, if you want to send Ether (ETH), you should specify an ETH wallet address in the recipient field, and Exchange Crypto Platform will send coins to this address once the transaction is complete.
There is no maximum amount. You can see the minimum amount when you try to withdraw funds or transfer.
Unfortunately, blockchain transactions are irreversible. Once a transaction is made (money is sent to a particular wallet address), it cannot be rolled back. So, if you are going to exchange cryptocurrency, be sure to double check all payment details carefully before sending.
If your wallet address is recognized as invalid, it is usually for one of the following reasons:
Made a deposit to Bitfex but it hasnât arrived? Donât worry. As long as the address was filled correctly and you remembered to use the required Memo or Tag, your funds will be processed.
There can be many reasons that crypto deposits can be delayed. This article explains the common reasons and provides corresponding solutions.
If you cannot find the transaction ID (TXID) of the deposit on the blockchain, this may indicate that the transfer was unsuccessful. It is recommended to contact the withdrawal platform to check the status of your withdrawal.
Transactions on the blockchain must be confirmed by the nodes to be successful. The number of confirmations varies depending on the coin and network.
You can check the amount of confirmations required on the Bitfex deposit page. Please be patient and wait until the confirmation reaches the required amount.
Once there are enough confirmations on the blockchain, the Bitfex system will start proceeding your deposit. This can take up to 2-3 hours.
To check the number of confirmations for your deposit, refer to the blockchain explorers below:
The deposit address of some coins on Bitfex may be updated from time to time. Deposits using the old Bitfex deposit address will be delayed by 12 hours. As such, it is recommended to always deposit to the new Bitfex deposit address.
Bitfex may conduct wallet maintenance for certain coins from time to time, resulting in a delay to transactions. Refer to the deposit page to check out the latest service status.
Such transactions will not be credited to your Bitfex account. Please contact our online support for further assistance.
We hope this article has been helpful. If you have any other questions, please reach out to our 24/7 customer support via online chat or submit a ticket.
Happy trading on Bitfex!
Before you deposit, please check the deposit page to confirm if we support the BSC/MATIC/FTM token you want to deposit (as shown below, if we support the BEP20 token, the deposit interface will display the BEP20 deposit address). If we don't support it, then please do not deposit the token to your Bitfex account, otherwise, your deposit will not be credited.
If you have already deposited the unsupported token, please kindly gather the information below for further checking.
1. Your UID/Registered email address.
2. The type and amount of the token you deposit.
3. The txid.
4. The screenshot of the transaction from the withdrawal party. (Please log in to the withdrawal account, search the withdrawal history and find the corresponding withdrawal record. Please ensure that the txid, token type, amount and address should be on the screenshot. If you deposit from your private wallet such as MEW, please provide a screenshot of your account address.)
Please submit a request and provide the information above, we will check the details for you. After you submit the request, please wait patiently, we will reply to your email if there is any updates. At the same time, in order to solve your problem as soon as possible, please do not repeat to submit to avoid problem overlap, thank you for your support.
A crypto address is a string of characters that can be used to send and receive crypto. While each coin typically has its own unique address, coins on the same blockchain may have the same. For instance, all ERC20 tokens on Bitfex have the same address. Note that depositing coins to a non-matching address may result in the loss of your funds.
This article shows the common mistakes of depositing the wrong crypto, and what to do to recover your funds in the event of such a mistake.
1. Depositing coins that have not been listed on Bitfex
Though Bitfex supports Bitcoin and over 100+ altcoins, there are still many coins that have not been listed yet. Coins that have not been listed yet will not be displayed on Bitfex when deposited.
2. Depositing coin A to the address of coin B
Unless both coins are issued on the same blockchain, it is very likely that the deposit will fail to go through. For instance, a Bitcoin address will not accept deposits in ETH. The same goes for most other coins.
3. Depositing a coin to the wrong network
Certain coins (such as USDT and ETH) support multiple blockchain networks on Bitfex. Ensure the network selected matches the network of the address entered.
For instance, only the mainnet of EWT is supported on Bitfex, meaning that ERC20 deposits will fail to go through.
4. Depositing coins with a different contract address
Blockchain projects may upgrade the contract address of their token for certain reasons. Bitfex will publish an official announcement if we support the upgrade. Once the upgrade has been completed, deposits to the old contract address will not be credited to your Bitfex account.
5. Deposit coins to the contract address
Note that the contract address is not used for deposit and withdrawal. Transfers to the contract address will not be recoverable. You can always find the deposit address from the Bitfex deposit page.
1. Collect the following information.
2. Submit a request to the Bitfex Support team and provide the information collected. Please be patient as we will reply to you by email once there is an update.
In order to solve the issue as soon as possible, please avoid repetitive submissions for the same issue. Thank you for your understanding.
We hope this article has been helpful. If you have any other questions, please reach out to our 24/7 customer support via online chat or submit a ticket.
Happy trading on Bitfex!
To start trading Bitcoin and 600+ other coins on Bitfex, the first step is to deposit crypto to the platform. While it is easy to make a deposit on Bitfex, there are a few common mistakes to avoid to ensure the deposit reaches your account in a fast and secure manner.
1. Go to Bitfex, and click the Personal Area icon at the upper right corner of header.
2. Click Deposit, select the coin, then the network.
3. Copy your deposit address and paste it into the withdrawal platform, then deposit the coins to the relevant Bitfex account.
Tips:
1. How long does a deposit take to process?
Deposits can take a few minutes to a few hours, depending on the coin. If the coin has not arrived in your account after a long time, contact customer support and provide info such as your Bitfex UID, the coin deposited, and the TXID.
2. What are the fees for crypto deposits?
The commission depends on a number of factors, check in support for more details.
3. What if I deposit a coin that Bitfex does not support?
Bitfex may not be able to recover any unsupported assets. Please contact customer support and provide info such as your Bitfex UID, the coin deposited, and the TXID.
4. What if I deposit a token to the wrong address?
Bitfex may not be able to recover the assets for such a mistake. Please contact our support and provide info like your Bitfex UID, the coin deposited, and the TXID.
5. What if I forgot the Memo, Tag, or Message when making the deposit?
Bitfex may not be able to recover the assets for such a mistake. Please contact our support and provide info like your Bitfex UID, the coin deposited, and the TXID.
We hope this article has been helpful. If you have any other questions, please reach out to our 24/7 customer support via online chat or submit a ticket.
Happy trading on Bitfex!
1. Go to Bitfex and click the Personal Area icon at the upper right corner of the top bar.
2. Click Withdraw, and select a coin. Then fill in the wallet address and choose the corresponding network. Input the amount and then click confirm to proceed.
3. Security verification window will pop up, fill 2FA code one by one to submit the withdrawal request.
1. How long does withdrawal take to process?
It takes a few minutes to a few hours, varying from coin to coin.
2. Why does it take very long to receive my withdrawal?
Usually, we will process your withdrawal within 30 minutes, but delays may happen for many reasons like network congestion. Also, to enhance the security of your assets, if your withdrawal amount is larger than a certain amount, we will manually process your request and it may take a bit longer. You can contact our online support for further checks.
3. What is the fee for crypto withdrawal?
Bitfex charges a small amount of fee, and it depends on the coin as well as the blockchain network. For instance, usually, the transaction fee of TRC20 tokens is lower than their ERC20 counterparts. Check the withdraw page for more info.
If you are withdrawing the funds to another Bitfex account, you can tick Internal transfer on the withdrawal page, then the transaction will be almost instant with 0 fees.
4. What is the minimal amount to withdraw?
It varies from coin to coin. Check the withdraw page for more info.
5. What if I withdraw a token to the wrong address?
Bitfex may not be able to recover the funds if it has left the platform. Kindly contact the receiving platform for further assistance.
6. I have funds in my account but why does it say the balance is insufficient?
Please make sure the funds are in your Main Account when making a withdrawal.
7. Why does it say Contain invalid or sensitive information when withdrawing?
Very likely the address entered is incorrect. Please double-check the crypto address or contact online support for further check.
For some tokens, we only support transferring via a specific mainnet chain instead of an ERC20 or BEP20 chain, such as DOCK, XMR, etc. Please do not transfer tokens via unsupported chains or addresses.
8. Why the withdrawal service for some tokens is not available?
Some wallets may be under maintenance from time to time. We will keep everyone informed via our official announcements. Appreciate your patience.
9. Why my withdrawal service has been suspended?
To enhance the security of your account and assets, your withdrawal function will be temporarily suspended for 24 hours after changing some important security settings such as trading password, Google 2FA, and more.
We hope this article has been helpful. If you have any other questions, please reach out to our 24/7 customer support via online chat or submit a ticket.
Happy trading on Bitfex!
Bitfex users will be able to deposit and withdraw USDT in different forms: USDT-ERC20, USDT-TRC20, USDT-BEP20, USDT-MATIC, USDT-SOL.
To ensure that users can freely choose their favored forms of USDT to deposit and withdraw at any time, Bitfex will exchange four forms of USDT in advance to ensure an adequate balance of these 4 forms of USDT. If you do not agree to the exchange, please do not deposit or withdraw USDT.
Notesï¼
Please choose the public chain to get the corresponding USDT deposit address. Please ensure the public chain and address are correct.
Please input the withdrawal address. The system will identify the public chain automatically.
The time needed for a crypto withdrawal varies from coin to coin, ranging from a few minutes to a few hours. You can check the status of each withdrawal request on the Bitfex withdrawal page.
Go to Bitfex and log in with your account, then check the status of your withdrawal through Personal Area - Withdraw. There are three types of withdrawal status:
If the withdrawal is Pending, kindly wait for about 3 hours and check the status again. If the withdrawal status is still processing after 3 hours, please contact online support and provide the following information:
If the status is Success, you can find the transaction on the blockchain explorer, and once the number of confirmations is sufficient, you can check your funds on the receiving platform. If there is no information on the blockchain explorer while the status shows Succeeded, please contact our customer support and provide the following information:
Below please find the link to the blockchain explorer of some major blockchains:
If the status is Pending, please contact our online support as soon as possible and we will help check if we can cancel this request.
If the status is Success, neither you nor we can cancel it. It is suggested to contact the customer support of the receiving platform and ask for their help to recover this transaction. Let us know if they need any info or proof from our side.
We hope this article has been helpful. If you have any other questions, please reach out to our 24/7 customer support via online chat or submit a ticket.
Happy trading on Bitfex!
If you did not receive a confirmation e-mail for your Bitfex account, it is likely that It was sent to the "Spam" folder.
1. Check the "Spam" folder for an e-mail from Bitfex with the subject line "Registration on the exchange Bitfex";
2. In the e-mail, you will see a link to confirm the action. Click the link to complete your account registration.
If the e-mail is not in the "Spam" folder:
The KYC process includes submitting and verifying documents that serve as your identity proofs. They mention your date of birth, address, and other essential details. KYC is a fundamental practice to protect an organization from fraud and losses resulting from illegal funds and transactions.
To avoid conditions such as forgetting access credentials to exchange and accounts being taken over by others (information leakage from client side), we strongly suggest you to complete the KYC verification. Through the KYC information, we could help recover your account more quickly; Currently the same account only supports one authentication status, can not both be certified at the same time.
Go to the home page, click on the "Sign up" button and complete the registration procedure. Confirm your email, click on the tab "Settings" and follow the link "Click here to verify your ID" Fill out the data for the verification, you will get the status "Under review". Verification of documents takes up to 24 hours. After checking the documents you will see the message "Your ID information has been verified". After passing the verification, you will receive increased withdrawal limits and a deposit bonus.
Enabling two-factor authentication (2FA) increases the security of your Bitfex Account, as well as coins/tokens stored on It. This method of account protection is called two-factor protection, because it is the second security barrier after the password to log in to the account. This really increases your security, because in addition to the username and password, the attacker will need to enter a 2FA-code. In the event of a hacking attempt, an attacker can reset your password through your e-mail address that you specified during registration, if it was hacked. However, even if the attacker has a username and password from your Bitfex account
Several rules for creating a password:
The password has never been used before;
The minimum length is 6 characters;
Use upper and lower case;
Use special characters and numbers.
Check the "S" after "http" in the browser's address bar. If there is no "S", the connection is not secure. It can lead to loss of access to the account and loss of funds. A green lock near the address informs the user about the security of the visited page. If there is no lock, you should pay special attention to the site name in the address bar or do not use it at all, because the http Protocol is not secure. It is safe to use websites with https Protocol only.
To check the SSL certificate, follow the instructions. Click on the certificate details and make sure that you are on the official website.
Bitfex support will not require anyone for any login information, payment password, Google authentication code, or private key in any name. Any requests of this nature are fraudulent.
Never give access to your account and the funds stored on it to a third-party. Bitfex will never request remote access to your account or your devices.
Phishing scammers can copy official e-mails on behalf of the Bitfex exchange. Scammers may request confidential data via e-mail that compromises your account data, as well as your personal data that helps to identify you. Fraudsters can also attach links to change the phone number and password. Links of this nature may redirect you to a third-party fraudulent website or contain malware. Therefore, never click on links and do not give your data to third-parties.
Common types of phishing scam:
Spear Phishing is based on personalized communication in order to gain the user's trust;
Clone Phishing - copying a legitimate e-mail containing an attachment or link of a fraudulent version. The e-mail is sent from a masked address;
Whaling - targeted at senior executives or senior people within the company. It usually looks like a legitimate concern, subpoena, client issue, or corporate matter;
SMiShing - fraud using text or SMS. It looks like a confirmation of account activity.
Often, fraudulent e-mails come as spam because they do not pass DKIM/SPF verification.
Domain Keys Identified Mail (DKIM) technology allows a company to vouch for an e-mail message that is sent. Technically â this is a method of confirming the sender's domain through a cryptographic signature.
The Sender Policy Framework (SPF) technology is another way to identify the sender of an email and provides an additional option to filter the mail stream for spam messages.
