Learning to trade on Bitfinex

Bitfinex (online) does not offer traditional training for traders. But they can learn the basics of trading in the help center and blog. There are also sections on the site with information about various services. They too should be studied before creating an account.

Before you start working on the crypto exchangeIn this case, you need to know how to properly register an account and pass verification, deposit and withdraw funds, and make transactions. If the materials on the site seem insufficient for mastering the basics of trading, you can study the articles on our website, dedicated to different strategies and other nuances.

Help Center

Bitfinex exchange has an informative help center, where the team publishes useful articles on various topics: creating an account, verification, reporting, trading and crediting. The rules for depositing and withdrawing funds are described, as well as the use of the mobile application.

Demo

Bitfinex has developed a demo version, which allows you to explore the trading platform without creating an account and depositing real funds. To do this, you need to click on the “Demo” button on the main page of the site. It will open the terminal, which will help to familiarize with its interface and functionality. Once you enter the demo, you will be able to explore the order book, charts, order forms and other services and indicators.

Tour

To get instructions on how to work with Bitfinex platform, functions and to understand the navigation between different sections of the site, you can use the “Tour” tool. There is a button in the header of the site page for this purpose. By clicking on it, the user will be able to understand what the wallets on the platform look like, how exchange and margin trading are conducted and margin financing is conducted. The service offers a choice of several tours to get acquainted with different sections of the platform.

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Paper Trade

Newcomers who are inexperienced with the platform for buying and selling digital assets can use the market simulator. This is a paper trading Bitfinex, which helps to try different strategies on a simulated market and thus learn how to work on the exchange. It uses test tokens, which does not require funding with real funds. These tokens cannot be withdrawn from the platform.

New sub-accounts on the exchange can participate in this type of trading. Only a few service tokens are available to them: TESTBTC, TESTUSD, TESTUSDT, TESTBBB and TESTAAA. Paper trading helps them test exchange and margin strategies and learn the derivatives market. There is also a margin funding feature that allows you to place test funds or reserve funds, and Bitfinex Borrow to test borrow funds from other users. An over-the-counter market is also available for paper trading, which gives you the ability to test work with large orders that are not included in the public order book.

To create a sub-account for such work, it is necessary to register on the exchange and go to the section that contains information about it. When creating such an account, it is necessary to tick the box “Paper Trading Account” at the bottom of the window. To add funds to your paper trading account, you should go to the page “Trading – Balances”. In the window that appears, you can select “Deposit a paper balance” and go to the form. A maximum of $1,000,000 (or equivalent) and each token up to an amount of 100,000 USD can be deposited to a Bitfinex account.

What is there for beginners to learn?

Any beginner who is about to start cryptocurrency tradingThe most important thing is to get acquainted with this concept, to understand how transactions take place. There is an article on our website, which gathers sources of information about digital assets. It is important to learn the basics of trading, its different types, types of orders and their correct execution before working. Some of these topics are disclosed in the materials on our site. You can also watch topical videos on YouTube, find information on tools and functionality of different platforms on websites dedicated to cryptocurrencies.