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 |
✔** |
✔ |
||
| Deposits | ||||
| Crypto transfers* |
✔ |
✔ |
✔ |
✔ |
| Tether tokens and other stable tokens* |
✔ |
✔ |
||
| International bank transfers¹ |
✔ |
|||
| SEPA (OpenPayd)¹ |
✔ |
✔ |
||
| On ramp (happyCOINS) |
✔ |
✔ |
||
| Credit/Debit Cards: |
|
|
||
| Mercuryo | ✔ | ✔ |
✔ |
✔ |
| Simplex |
✔ | ✔ |
✔ |
✔ |
| OWNR Wallet |
✔ |
✔ |
||
| Withdrawals | ||||
| Crypto transfers* | ✔ | ✔ |
✔ |
✔ |
| Tether tokens and other stable tokens* |
✔ |
✔ |
||
| International bank transfers¹ |
|
✔ |
||
| SEPA (OpenPayd)¹ |
✔ |
✔ |
||
| 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.
** Intermediate verification is required to access Margin Trading, Margin Funding, Lending Pro, Bitfinex Borrow, and Increase Position. This applies to users who created an account after March 1, 2022. Basic Plus verification is required for accounts created between January 1st, 2022 and March 1st, 2022. Accounts created before these dates will be able to continue without having to upgrade their verification levels.
*** 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 via an international bank transfer (manual transfer) in fiat currency is 10,000 USD/EUR/GBP, 1,000,000 JPY, and 75,000 CNH.
For Euro transactions using OpenPayd services via SEPA, there is no minimum or maximum deposit amount and the minimum withdrawal amount is €25 with a transfer fee of €0.50 per transaction.
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.
