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The best Bitfinex alternative in 2023, as found in our independent testing, is Pionex!
It’s not wrong to say that cryptocurrency is currently ruling the investment space. 2021 was a great year for the world of cryptocurrency.
From raising millions to invest in the flourishing NFT space to companies getting involved with digital currencies, cryptos became the fastest growing asset class worldwide with a market value of $3,048.57 billion.
According to the latest statistics, the cryptocurrency app was downloaded 82.9 million times on Google Play alone in the year 2021.
These figures expand significantly from 2020, where crypto trading platforms were downloaded only 13.5 million times.
With this slew, a significant need emerged for cryptocurrency trading platforms, which primarily carry out digital currencies’ trading and control cryptocurrency sales’ price and value.
However, many crypto trading services and platforms stopped approving new user registrations.
That’s because there was a huge increase in the number of users of those crypto trading platforms, causing server breakdown resulting from the terrific load.
Currently, we don’t know when these cryptocurrency trading platforms will resume their registration processes.
Therefore, it’s necessary to have alternative crypto trading websites in case some well-known trading exchanges crash or stop accepting new users.
Bitfinex is a Hong Kong-based cryptocurrency trading platform that was launched back in late 2012.
It’s a veteran yet advanced crypto trading exchange and is one of the best platforms for experienced investors. However, expecting it to be completely free from issues won’t be wise.
The platform lags severely regarding functionalities and features in terms of crypto trading. So, it’s better to look for Bitfinex alternative sites.
Now, if you’re seeking some of the best Bitfinex alternative sites. Then, we must say your quest ends here.
Even though there are a bunch of Bitfinex alternative sites available in the market space, we’ve put together a list of top 5 crypto trading platforms, which are also a great Bitfinex alternative.
Walk through this write-up, and start your crypto trading journey today.
Best Bitfinex Alternatives in 2023
Pionex is the finest crypto trading site like Bitfinex and has been named as the fastest growing cryptocurrency trading exchange throughout Asia.
The main reason behind the site’s immense popularity is its brilliant built-in automated free trading tools coupled with a trustworthy team of professionals providing support to investors.
Keeping in mind the increasing popularity of this digital currency trading platform among crypto investors, it is all set to occupy an even bigger crypto market space in 2023.
Being launched in 2019, the platform has already got a United States Money Services Businesses (MSB) license and is awaiting a Singapore Financial Advisers (MAS) license.
Pionex is supported by BitUniverse and financed by three renowned Chinese venture capital companies: Zhenge Capital, Banyan Capital, and Shunwei Capital.
Pionex believes that its users are investors and not gamblers.
- Price: FREE
- Types of Bots: Arbitrage Bot, Grid Trading Bot, Copy Trading, Social Trading, Martingale Bot, Spot-Futures Arbitrage Bot, Rebalancing Bot, DCA, etc.
- Supported Exchanges: Huobi, Binance, Pionex
- Mobile App: iOS & Android
Contrary to some of the well-known crypto trading sites that mainly focus on short-run profits for themselves, Pionex is primarily concerned about its users’ earnings and helping them to retain as much money as they can in the long run.
This is evident because this platform never tries to force risky, highly leveraged crypto products on investors, rather encourages them to limit their leverage.
Pionex offers built-in automated trading bots that assist sharp investors in executing their strategy.
In total, there are 16 trading robots, each made for different situations and different markets.
One of the first and the most used automated trading bot is the Grid Trading Bot. Grid Trading is a tactic that generally helps investors to buy low and sell high in a particular price range.
Even though many well-known crypto trading platforms tried to copy Pionex’s Grid Trading Bot and offer their own versions owing to its increasing popularity, Pionex remains the best platform in terms of offering this tool.
This trading bot is best for the highly volatile cryptocurrency market.
That’s because it helps traders avoid the psychological trap that makes most human investors FOMO buy and panic sell.
eToro, another site like Bitfinex, is one of the best crypto trading platforms for investors in the United States, although traders outside the United States also use this platform to trade commission-free stocks.
It offers a combination of social media and crypto trading.
In a sense, social media allows its users to see what other investors are trading and even lets its users copy other’s trading strategies instantly without any additional charges.
It’s an amazing feature that keeps users connected with the platform’s best investors.
The site is pretty easy-to-use and has tons of cryptocurrencies to trade, making it one of the best options for investors who are just starting their investment journey in the crypto world.
Talking about its features, one of the best and unique features that eToro offers is the ability to copy the trading tactics of the site’s experienced and popular investors.
With the copy trading feature, newbie investors need to select any of the site’s experienced traders they want to mimic, and the eToro will automatically replicate their investors.
The feature also shows what investment programs various professional traders were involved in and the returns they’ve piled up during the past year.
Thus, helping newbies to make their selection, keeping that in mind. However, suppose anyone doesn’t want to copy other investors’ trading strategies.
In that case, they can still follow along on the investor’s social feed, check out their holdings, and see their monthly performance stats.
And that’s why we’ve mentioned that it’s a platform where crypto trading meets social media, helping investors connect with one another.
And the best part is you don’t need to pay anything extra to use copy trading. In fact, eToro pays income to its top investors in connection with its Popular Investor Program.
Users of this trading platform can earn extra income while trading by just signing up and attracting followers.
However, investors do need to have at least $200 in their account to copy experienced investors.
Uphold, a site like Bitfinex is an American trading firm where investors can exchange multiple types of digital assets such as crypto coins, US equities, forex, and precious metals.
Headquartered in New York, United States, and launched back in 2015, the multi-asset trading platform serves in over 184 countries with foreign currencies exchange and cross-border allowance for investors all over the world.
The firm has powered over 4 billion US dollars in transactions in the form of cross-border remittances and FX.
Impressively, Uphold is controlled and falls within the purview of the FINCEN and FCA.
A multi-asset digital currency platform enables its investors to trade between different asset classes with in-built payments delivering financial services to its users.
The platform supports over 60 digital currencies, including popular ones like stablecoins, altcoins, majors, and emerging tokens.
Through debit/credit card payments, investors can even connect their bank accounts to the platform in over 35 countries.
Uphold has a wider range of digital currencies that includes Bitcoin, Ethereum, Stellar’s Lumen, EOS, Ripple’s XRP, Dogecoin, Cardano’s ADA, and more.
Binance is a popular peer-to-peer cryptocurrency trading site like Bitfinex.
Established in July 2017, the company has succeeded in gaining huge popularity in just four and a half years.
That’s all because of the low trading fees of Binance and the great number of ICO (Initial Coin Offering) listings.
According to the site’s fee structure, the platform charges a standard trading fee of 0.1%, which can be lowered even more if investors pay their trading fee in BNB.
Therefore, Binance is, any day, a better Bitfinex alternative than most of the crypto trading exchanges.
This well-known trading exchange offers multiple types of unlimited digital currencies that include Bitcoin Gold, Ethereum Classic, NEO, Zcash, Dash, Bitcoin, EOS, GAS, LiteCoin, Ripple, Ethereum, Bitcoin Cash, and many more.
It also offers a lot of tokens as part of Initial Coin Offering (ICO) listings. That means investors can use Binance to trade these tokens as well.
Binance supports multiple languages, including Korean, Chinese, Japanese, and English.
It also works on all the available forms of devices, including HTML5, Android, web, and WeChat.
Another reason why Binance is widely loved by investors is because it’s optimized for both iOS and Android users.
That is, investors can have access to cryptocurrency trading on the go. However, it doesn’t serve fiat deposits, such as EUR, USD, GBP, etc.
Headquartered in Seattle, United States of America, Bittrex is one of the oldest crypto trading platforms available in the market.
It is a site like Bitfinex, which has been functioning since 2014 and currently has over 150 digital currencies listed on the same.
Although the platform offers great options for crypto trading through Ethereum and Bitcoin, it doesn’t offer fiat trading pairs (trading through EUR, USD, and GBP).
The site has never been hacked till now, and thus it proved to be a trustworthy crypto trading platform, having a good reputation.
Bittrex is one of the best in business when it comes to security technologies.
This crypto trading platform offers investors advanced and developed trading tools like crosshairs and candlestick.
Moreover, the exchange’s user interface is simple and intuitive, making the platform beginner-friendly.
Its fee structure is also pretty basic, where the platform charges only 0.25% on all trades. Therefore, investors can calculate the fees accrued on any trade at ease.
Deribit is also a great Bitfinex alternative crypto trading platform that was established back in 2016.
It’s a Netherlands-based exchange and is suitable for traders with trading experience. The platform offers trading in only two crypto coins, namely Ethereum and Bitcoin.
Moreover, Deribit is a web-based digital currency trading platform with an easy-to-use interface.
Why Can You Choose Deribit?
- No-KYC required
- Suitable for experienced investors
- Affordable trading charges
Another popular Bitfinex alternative site, Phemex, is a Singaporean crypto trading platform first launched in November 2019 by eight former Morgan Stanley executives.
It’s the world’s fastest crypto trading platform, with the ability to carry out more than 300,000 trades in a second. The platform offers leveraged trading equals 100 times.
Why Can You Choose Phemex?
- Best for both institutional and retail investors
- Accepts deposits in different types of digital currencies
- No transaction charges for premium members
PrimeXBT (a Bitfinex alternative) is a popular crypto trading exchange that started back in 2018 and currently serves in over 150 countries across the world.
The platform supports 11 different types of crypto coins, including some of the popular currencies like BTC, ADA, DOGE, and more.
However, the platform is not for crypto trading only; it has markets for commodities, forex, and stock indices.
Why Can You Choose PrimeXBT?
- Quick and easy sign-up
- Lower fee charges
- Real-time risk management
With that, we reach the end of this article. In case you’ve made it so far, you’re already aware of the eight best Bitfinex alternatives to try in 2023.
Although each of them is promising enough to take your crypto trading journey ahead, if you ask us to name one, it will undoubtedly be Pionex.
Wondering why? Scroll all the way up, and you’ll figure out why.