The verification process for Bitfinex is a standardised compliance measure for Anti-Money Laundering (AML), Know Your Customer (KYC), and Counter-Terrorism Financing (CTF) laws and regulations.
There are four levels of verification available on Bitfinex:
- Basic;
- Basic Plus;
- Intermediate;
- Full.
Note: When you create an account on Bitfinex, your verification level is set at the Basic verification level. This allows you to deposit, trade and withdraw various cryptocurrencies.
If you are either an Individual or a Corporate account holder, you can upgrade your verification level to get access to advanced trading features and a wider offer of products and digital assets.
Bitfinex Verification levels comparison
|
Basic |
Basic Plus |
Intermediate |
Full |
|
| Trading and Lending | ||||
| Exchange Trading* |
✔ |
✔ |
✔ |
✔ |
| Margin Trading* |
|
✔** |
✔ |
✔ |
| OTC Trading* |
✔ |
✔ |
✔ |
✔ |
| Derivatives Trading*** |
✔ |
✔ |
||
| Margin Funding |
|
✔** |
✔ |
✔ |
| Lending Pro |
|
✔** |
✔ |
✔ |
| Bitfinex Borrow | ✔ |
✔ |
✔ |
|
| Increase position | ✔ |
✔ |
✔ |
|
| Lending Products (Celsius) |
✔ |
✔ |
||
| Deposits and Withdrawals | ||||
| Crypto transfers |
✔ |
✔ |
✔ |
✔ |
| TETHER and other stable tokens* |
✔ |
✔ |
||
| Bank wires (Fiat transfers)¹ |
✔ |
|||
| No maximum withdrawal limit |
✔ |
✔ |
✔ |
✔ |
| Faster crypto deposits² |
✔ |
✔ |
||
| Other features | ||||
| Bitfinex Pulse |
✔ |
✔ |
✔ |
|
| Multipliers in Affiliate Program |
✔ |
✔ |
✔ |
|
| Participate in Competitions**** |
✔ |
✔ |
||
| Bitrefill |
✔ |
✔ |
✔ |
✔ |
| Staking Rewards |
✔ |
✔ |
✔ |
✔ |
|
Bitfinex Pay |
|
|
✔ |
✔ |
| UNUS SED LEO discounts*** |
✔ |
✔ |
||
| Security | ||||
| Earlier withdrawal hold lift³ |
✔ |
✔ |
Note:
* Certain tokens necessitate at least the Intermediate level and may be restricted to specific jurisdictions; check the requirements for each token.
** Starting from 1st January 2022, Margin Trading, Margin Funding and Lending Pro is available to Bitfinex users with a Basic Plus or higher verification level. This is only for users that created an account after 31st December 2021, accounts created before this date will be able to continue without verifying to Basic Plus or higher.
*** Restrictions applied in certain jurisdictions.
**** Restrictions applied in certain jurisdictions.
¹ Bitfinex supports fiat currencies such as USD/EUR/GBP/JPY/CNH.
Note: The minimum deposit and withdrawal amount in fiat currency is 10,000 USD/EUR/GBP, 1,000,000 JPY, and 75,000 CNH.
² As time is a critical component in trading, Intermediate level and above verified account users can enjoy fewer confirmations when depositing cryptocurrencies.
³ This applies to withdrawal holds triggered after making specific security setting changes.
How to upgrade the verification level at Bitfinex
On your Verification page, you may easily upgrade your account verification by uploading the information based on your level and the verification level you want to achieve.
To upgrade to the Basic Plus verification level, upload your:
- Official Photo ID;
- Biometric photo (selfie);
- Phone Number.
To upgrade to the Intermediate verification level, you need to upload:
- All information in Basic Plus verification level;
- Second official photo identification;
- Proof of Address;
- Financial Questionnaire;
- KYC Declaration.
To upgrade to the Full verification level, you need to upload:
- All information in Intermediate verification level, and:
- Bank Statement.
If you have any questions regarding the Bitfinex Verification process, contact Bitfinex Support for assistance.
