Bitfinex's interface for deposits and withdrawals differs significantly from other exchanges. Terms like "deposit" replace "funding," and networks like TRC20 are labeled as "Tron." This guide walks you through three deposit methods, zero-fee crypto purchases, converting profits to fiat, and securing assets with whitelisted addresses.
Deposit Method 1: Wallet Transfers (From Another Exchange)
Transfer existing USDT/USDC from other platforms to Bitfinex. Follow these steps:
Obtain Bitfinex’s Deposit Address
- Navigate to Wallet → Deposit and select your cryptocurrency (e.g., USDT is labeled "USD ₮").
- Choose the network (e.g., TRC20 = Tron).
- Click "Generate Address" and copy the wallet address or scan the QR code.
⚠️ Warning: Ensure the currency and network match the sending platform to avoid permanent loss.
Transfer Process (Example: Binance)
- On Binance, go to Wallet → Withdraw, select USDT and TRC20.
- Paste Bitfinex’s deposit address and confirm.
- Bitfinex imposes no deposit fees, but the sending exchange may charge fees.
Deposit Method 2: TWD Deposits via ACE Exchange (Zero-Fee Method)
For TWD deposits, use Taiwan’s regulated exchanges like ACE.
Steps for Zero-Fee USDT Purchase
- Complete ACE KYC and link a bank account (KGI Bank recommended for zero transfer fees).
- Deposit TWD: Transfer funds via ACE’s designated account (avoid cash deposits/Pay transactions).
- Convert TWD to USDT: Place a limit order on ACE to avoid trading fees.
- Transfer to Bitfinex: Withdraw USDT via TRC20 to Bitfinex’s deposit address.
✅ Pro Tip: Use KGI Bank to bypass cross-bank transfer fees entirely.
Deposit Method 3: USD Wire Transfers
For large deposits (minimum $10,000):
- Request a deposit under Wallet → Deposit → Bank Wire (USD).
- Bitfinex emails wire details within 48 hours (use Citibank for potential fee waivers).
- Submit the wire slip at your bank, ensuring "Full Amount Received" is selected.
- Processing time: 1–7 days (quicker if marked for investment purposes).
💰 Fees: 0.1% (min. $60) + bank charges (~$30–$45).
Converting USDT to USD
- Go to Trading → USDT/USD pair.
- Enter the amount and click "Exchange Sell."
- Move USD from the Exchange Wallet to the Funding Wallet to start lending.
Withdrawal Methods
TWD Withdrawals
- Transfer USDT to ACE/MAX via TRC20.
- Sell USDT for TWD and withdraw to your bank account.
USD Wire Withdrawals
- Standard: 0.1% fee (5–10 days).
- Express: 1% fee (processed in 1 day).
📢 Tax Note: Report all fiat withdrawals as taxable income.
Security: Whitelisted Addresses
Lock withdrawals to pre-approved addresses only:
- Under Security Settings, add trusted wallet addresses per currency.
- Changes trigger a 5-day withdrawal freeze—plan accordingly.
Fee Summary
| Action | Fee |
|--------------------------|----------------------------------|
| Wallet Deposit | Free (sender may charge fees) |
| TWD Deposit (ACE) | Free (via KGI Bank) |
| USD Wire Deposit | 0.1% (min. $60) + bank fees |
| Wallet Withdrawal | Free for USDT; varies by coin |
| USD Wire Withdrawal | 0.1% (min. $60) |
FAQ
Q: How long do wire transfers take?
A: 1–7 days (faster with investment-purpose labeling).
Q: Can I recover coins sent to the wrong address?
A: Yes, but Bitfinex charges a $150 retrieval fee and takes months.
Q: Why use ACE for TWD deposits?
A: Zero fees with KGI Bank and regulatory compliance.
👉 Explore Bitfinex’s lending tools for passive income strategies.
Disclaimer: This guide is for informational purposes only. Cryptocurrency investments carry high risk—research thoroughly before participating.