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 available on Bitfinex:
Basic Access;
Basic Plus;
Intermediate;
Full.
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
Note: Basic Access is a view-only mode. Certain Basic Access accounts can withdraw cryptocurrency for amounts <$1K USD equivalent. Users are required to upgrade verification for fiat/stablecoins and amounts >$1K).
| Basic Plus | Intermediate | Full | |
| Trading and Lending | |||
| Exchange Trading¹ | ✔ | ✔ | ✔ |
| Margin Trading¹ |
|
✔² |
✔ |
| OTC Trading¹ | ✔ | ✔ | ✔ |
| Derivatives Trading³ | ✔ | ✔ | |
| Margin Funding | ✔² | ✔ | |
| Bitfinex Borrow | ✔² | ✔ | |
| Increase position | ✔² | ✔ | |
| Deposits | |||
| Crypto transfers¹ | ✔ | ✔⁵ | ✔ |
| Stablecoin tokens¹ | ✔ | ✔ | ✔ |
| International bank transfers⁶ | ✔ | ||
| OpenPayd (SEPA)⁶ | ✔ | ✔ | |
| On ramp (happyCOINS) | ✔ | ✔ | |
| Credit/Debit Cards: | |||
| Mercuryo | ✔ | ✔ | ✔ |
|
Simplex |
✔ | ✔ | ✔ |
| Withdrawals | |||
| Crypto transfers¹ | ✔ | ✔ | ✔ |
| Stablecoin tokens¹ | ✔ | ✔ | ✔ |
| International bank transfers⁶ | ✔ | ||
| OpenPayd (SEPA)⁶ | ✔ | ✔ | |
| Other features | |||
| Multipliers in Affiliate Program | ✔ | ✔ | ✔ |
| Participate in Competitions⁴ | ✔ | ✔ | |
| Bitrefill | ✔ | ✔ | ✔ |
| Staking Rewards | ✔ | ✔ | ✔ |
| UNUS SED LEO discounts | ✔ | ✔ | |
| Thalex | ✔ |
✔ |
|
| Security | |||
| Earlier withdrawal hold lift⁷ | ✔ | ✔ | |
Note:
¹ Certain tokens may be restricted to specific jurisdictions; check the requirements for each token.
² Intermediate verification is required to access Margin Trading, Margin Funding, Bitfinex Borrow, and Increase Position. This applies to users who created an account after March 1, 2022. Only Bitfinex accounts created before March 1st, 2022 will be able to access these features with Basic Plus verification.
³ Restrictions applied in certain jurisdictions.
⁴ Restrictions applied in certain jurisdictions.
⁵ As time is a critical component in trading, Intermediate level and above verified account users can enjoy fewer confirmations when depositing cryptocurrencies.
⁶ Bitfinex supports fiat currencies such as USD/EUR/GBP.
Note: The minimum deposit and withdrawal amount via an international bank transfer (manual transfer) in fiat currency is 10,000 USD/EUR/GBP.
For Euro or Pound Sterling transactions using OpenPayd services via SEPA, there is no minimum or maximum deposit amount and the minimum withdrawal amount is €25/£25 with a transfer fee of €5/£5 per transaction for both deposits and withdrawals.
There is a 10.000 USD balance limit for basic plus users with El Salvador Securities verification.
Important: If you use the third-party service provider OpenPayd for your Euro or Pound Sterling transfer, you only need to verify your account at the Intermediate level or higher. For USD transactions, Full Verification is required.
⁷ 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;
Residence Address.
Please keep in mind that in some rare cases we may ask for further information and documents.
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.