Bitfinex

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MusicalMan

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Hi All
In my attempt to find an exchange where I can trade my Bitcoin for other currencies, I found Bitfinex.
Has anyone used this platform before? Any issues I need to be aware of?

Thanks
 
There's a lot of controversy surrounding Bitfenix at the moment. Better to use another exchange like Bittrex or Kraken imo.
 
Okeh said:
There's a lot of controversy surrounding Bitfenix at the moment. Better to use another exchange like Bittrex or Kraken imo.
Click to expand...

Thanks
I've opened an account on Bittrex.
Looking for a tutorial on how to transfer from Luno to a currency on Bittrex and then getting it back as well.
 
MusicalMan said:
Thanks
I've opened an account on Bittrex.
Looking for a tutorial on how to transfer from Luno to a currency on Bittrex and then getting it back as well.
Click to expand...
Generate an address on Bittrex (to receive BitCoins). Make sure its for receiving BitCoins, not another coin.
Look for the option to make a payment or something on Luno (don't know, don't really use it)
Enter the address from Bittrex into Luno
Transfer

Wait, check back in an hour or so.

Once Bittrex has your coins, click on Wallet
Find the coin you want to buy by clicking on its symbol.
Type in the number of units you want to buy, if you want to buy with all your BTC, click 'MAX'
Leave all the other settings

Click the button to buy.

Done!

To get your money back to Luno

Trade the coin or coins you hold for Bitcoin by selling it

Get your address on Luno to receive
Under Wallets, click on the minus sign next to Bitcoin. Don't try and transfer coins unless they have been traded for Bitcoin!!!
Enter the address you got from Luno
Enter the amount (in Bitcoin)
Click withdraw

Done!
 
Last edited:
Okeh said:
There's a lot of controversy surrounding Bitfenix at the moment. Better to use another exchange like Bittrex or Kraken imo.
Click to expand...

What controversy is there regarding Bitfinex? I didn't even know that. Have been using them for a long while now.
 
Okeh said:
There's a lot of controversy surrounding Bitfenix at the moment. Better to use another exchange like Bittrex or Kraken imo.
Click to expand...

I would also like to know? I have been using Bitfinex no problems? Is it worth my while to move over?
 
YingYang said:
Generate an address on Bittrex (to receive BitCoins). Make sure its for receiving BitCoins, not another coin.
Look for the option to make a payment or something on Luno (don't know, don't really use it)
Enter the address from Bittrex into Luno
Transfer
Click to expand...
Bittrex generates a QR code you can scan from the luno app. What's nice is luno recognises whether it's a BTC wallet code or not.
 
Okeh said:
There's a lot of controversy surrounding Bitfenix at the moment. Better to use another exchange like Bittrex or Kraken imo.
Click to expand...

YingYang said:
Generate an address on Bittrex (to receive BitCoins). Make sure its for receiving BitCoins, not another coin.
Look for the option to make a payment or something on Luno (don't know, don't really use it)
Enter the address from Bittrex into Luno
Transfer

Wait, check back in an hour or so.

Once Bittrex has your coins, click on Wallet
Find the coin you want to buy by clicking on its symbol.
Type in the number of units you want to buy, if you want to buy with all your BTC, click 'MAX'
Leave all the other settings

Click the button to buy.

Done!

To get your money back to Luno

Trade the coin or coins you hold for Bitcoin by selling it

Get your address on Luno to receive
Under Wallets, click on the minus sign next to Bitcoin. Don't try and transfer coins unless they have been traded for Bitcoin!!!
Enter the address you got from Luno
Enter the amount (in Bitcoin)
Click withdraw

Done!
Click to expand...

Thanks a lot for this.
Completed first transaction - Very easy.
 
So I got a new account from Bittrex to try out after reading this post. Verification was quick.

I decided to deposit 100 XRP as a test. I did the transfer from my Alcointrader account as I do the same from Altcointrader to my Kraken account. It has been about 3 hours and no coins at Bittrex yet. Any idea?

On Altcointrader it shows Approved, but not success yet and there is not transaction hash yet so I can check the transaction.
 
I used Bitfinex, and then a week ago I heard rumors about Tether and Bitfinex. Apparently Tether is owned by Bitfinex, and the amount of Tethers in circulation is not backed up by US Dollars. Just because Bitfinex is one of the biggest exchanges, doesn't mean it can't fail or collapse, or shut down. The same happened to MtGox and BTC-e. So I moved all my funds from Bitfinex to Bittrex. Rather be safe than sorry.
 
Sly21C said:
I used Bitfinex, and then a week ago I heard rumors about Tether and Bitfinex. Apparently Tether is owned by Bitfinex, and the amount of Tethers in circulation is not backed up by US Dollars. Just because Bitfinex is one of the biggest exchanges, doesn't mean it can't fail or collapse, or shut down. The same happened to MtGox and BTC-e. So I moved all my funds from Bitfinex to Bittrex. Rather be safe than sorry.
Click to expand...
Just make sure 2FA is activated
 
nazz said:
So I got a new account from Bittrex to try out after reading this post. Verification was quick.

I decided to deposit 100 XRP as a test. I did the transfer from my Alcointrader account as I do the same from Altcointrader to my Kraken account. It has been about 3 hours and no coins at Bittrex yet. Any idea?

On Altcointrader it shows Approved, but not success yet and there is not transaction hash yet so I can check the transaction.
Click to expand...

My XRP just arrived. It took about 5 hours. Not sure why?

Update: On XRPCHARTS the status showes "This transaction was successful, and validated in ledger 32706005 on September 12, 2017 9:37 AM". It weird that I only received the coins after 1pm today?
 
Last edited:
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