Trading Bitfinex Ap After opening an account with Bitfinex, we can access our account for consultation and trading via the application on our mobile phone.
The Bitfinex application is available for two of the most popular operating systems – Android and iOS. We may find them in the appropriate stores: Google Play or the App Store.
This isn’t too difficult, but in order not to get lost, these are the steps you need to take to work with the
Download the Bitfinex app. These are links to download the Bitfinex app: Google Play, App Store.
After downloading the application and in order to start working with your mobile phone, you need to generate a so-called API key, which is nothing more than a permission to work from your mobile phone.
This permission is configurable. We can only give you a read-only license to prevent the loss of your mobile phone when someone comes into our account and is able to trade or withdraw funds deposited.
To generate a key, go to bitfinex.com/api.
The API key is generated by a QR code. This key will be displayed on your computer screen so you can scan it with your mobile phone and give us access to your account.
After logging in, we generate an access code that will request us every time we use the application from our mobile phone.
Working with Bitfinex
Once we have a clear understanding of how to access the platform, both from our PC and from the mobile application developed for this purpose, it remains to be seen what operational possibilities Bitfinex offers us.
Trading with Bitfinex
To trade with Bitfinex, the exchange is linked to the TradingView platform, which provides very complete charts in which we can use all kinds of graphical tools and technical indicators.
Everything related to the Exchange itself to constantly check the depth of the market available on the Exchange. We will see real-time orders placed by various traders at the moment.
For active traders wishing to earn money by trading with Criptomedas, rather than investing, Bitfinex offers leverage of 3.3 times the amount available in the account.
Buying and selling scriptomed products
Although this may seem the same, trade and investment are not.
Trading is aimed at making profits in short periods of time, while investments are much quieter, looking for longer periods of time.
For these quieter investors, Bitfinex offers the same service, with the ability to buy and sell between different portal currencies, as well as the Wallet service, with the ability to store our Tokens in a safe place.
In Bitfinex, we encounter various commissions, whether for entering, outputting or exchanging Criptomonedas.
Each of these commissions deserves a separate study:
The Exchange supports various forms of deposits, and we can also incur various costs:
Bitcoin deposits. If we receive income through Bitcoin, Exhcange will not charge us any commission.
Fiduciary currency deposits. In this case, the commission is a percentage of the amount, 0.1%, provided that the minimum entered is $20.
Deposits in EgoPay system. For EgoPay deposits, the commission fee is 0.2% of the total income.
Although it’s very similar to a deposit commission, the difference is small.
Withdrawal of funds with the help of Bitcoin. If we withdraw our bitcoins as well as deposits, Exhcange will not charge us any commissions.
Fiduciary cash withdrawal operations. The commission in this case is the same as for the deposit, 0.1% of the amount withdrawn, with a minimum commission of $20.
Withdrawal of funds via EgoPay system. This is the only difference, as no commission is charged when withdrawing funds from EgoPay.
These fees may vary depending on the volume.
Commissions vary depending on whether we buy or sell and the amount of the transaction.
Small investors should think that the commission will increase from 0.10% to 0.20%, i.e. less than $500,000.
Methods of depositing funds
To capitalize our account and start trading, both for trading and for cryptographic currency exchanges, Exchange Bitfinex offers us several alternatives:
Bank wire transfer. This is the easiest and most convenient way to transfer funds to our account.
Revenues via Bitcoin. As it couldn’t have been otherwise, the Exchange admits that we make an income in Bitcoin, from any wallet.
EgoPay. It is an online payment system through which we can transfer money to Bitfinex.