Bitcoin

Online Businesses Can Now Receive Payments in Crypto With BitFinex Pay

Bitfinex is a state-of-the-art trading platform and offers advanced tools for cryptocurrency investors, It has now brought more cheer to the crypto enthusiasts  as the firm announced launch of a unique payment platform called “Bitfinex Pay.” It is a simple, fast, and secure payment gateway application that enables the business to accept payment in crypto from customers.

Use Bitfinex Pay to make Online purchases through your Bitcoin, Ethereum, Tether, and Other Cryptos.

The businesses would not require a different payment infrastructure. It is easy to integrate Bitfinex pay with the existing platform, and a customer can pay through cryptocurrency like Bitcoin, Ethereum, Lightning Network BTC, Tether, or any other. Bitfinex will not charge any processing fee or transaction charge for facilitating transactions. Merchants and customers will have to bear the cost—it a tremendous financial gesture by the company in the right direction. Merchant will get a good customer base and increased business prospects, whereas customers will use their parked crypto to buy essential and nonessential purchases.

https://twitter.com/genesisblockhk/status/1367716505203400707?s=20

The process of registration is super easy. A merchant needs to sign up at Bitfinex account by putting the required information. After Verification of the account details and they must set up a new sub-account. Next, they need to create an API key that will work as a bridge and authentication points. After making the orders through API. Payment status confirmation is also verified via API endpoint Webhook.  The received payment gets deposited into the sub-account. And  Users can see the statement anytime and anywhere by logging in through your Bitfinex ID and password.

The customers must click the “Bitfinex Pay” button on the merchant website. The page goes to the Bitfinex website, and payment is made after authorization. Experts argue that this is a masterstroke by the company and will bring more enthusiasm into crypto. It has the potential to challenge the traditional paper and online system. It’s like a growth stimulator for different stakeholders like merchants, customers, investors, and others. Crypto will touch on new heights in the coming days due to this positive news.

Bitfinex Pulse – A Network for Avid Crypto-traders

Social Networks have become a critical part of our lives and owing to its huge popularity, Bitfinex, the popular Crypto exchange also has decided to serve the needs of the social ecosystem. It has announced its own social network which initiated today. 

The new social network called ‘Bitfinex Pulse’ intends for the customers and visitors to dedicatedly lock themselves in the world of trading and discover how interesting the concepts are. It aims that people look beyond conventional and explore through a range of concepts and market activities. The users will get an opportunity to interact with other exchange members and will only deepen their insights about the crypto trading world.

The product from the house of Bitfinex is not the first of its kind. Earlier EToro was launched that contained trader profile, messaging options and copy trading that allowed traders to jump along with the positions of other traders. But eToro right from the beginning focussed on social investing whereas Bifinex pulse is more specific towards the needs of the users. The network will cater to the technically superior audience with equally superior content. Here copy trading will not be hosted and further details about user verification are yet to be clarified from the company.

Trading pre and post digitalization has undergone a sea change. Earlier trading was no less than a high-octane battle of the traders who were extremely competitive to earn profits. Post digitalization, competitiveness is still there but now the trading also has included some elements of emotions and importance to the community. It is easily seen on different social media platforms. When the markets are high or low, many platforms including Twitter post trading ideas amid sentiments.

As the community expands on the social network, it will launch newer variants including data insights. As per the spokesperson, the network was launched to provide a technically sound and professional content distribution platform for traders. Once the users are verified they will be able to post publicly and could also communicate with the users through private messages. If the user is not verified then they can only access private posting.

Image Source – Cryptoknowmics

Comparing Cryptocurrency Exchanges In Terms Of Volume

Lets take a look at the trading volume across the top bitcoin exchanges.

Bitfinex leads the way, followed by Bitflyer, Bitstamp, Coinbase, Geimni, Hitbtc, Itbit and Kraken. Volume distribution amongst exchanges hasn’t changed much over the past 30 days compared to the past 6 months with most exchanges maintaining their rank. We have seen overall bitcoin volume drop dramatically over the same time period beginning to decline in February and seemingly finding a floor over the past couple months.

30 Day Trading Volume

6 Month Day Trading Volume

Interested in other cool crypto posts….check out Mining Wars: Bitmain vs Dragonmint and The Price of Bitcoin vs Cost of Mining.

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How much do Crypto Exchanges make in revenue *every single day? Graphic

Great graphic from Howmuch.net showing the top crypto exchanges in terms of revenue.

Talk about printing money. Forget shitcoin trading, investing in an exchange was the best move to make during this cryptocurrency craze. Binance, only one year after its launch, is generating $3.5 million in revenue…PER DAY!!! Not sure you could even print money that fast. Coming in second is Korean exchange UPbit with $3.42 million per day. Rounding out the top 5 are Huobi, Bittrex (yup, even with all the declining volume) and Bithumb. And last but not least, Poloniex with $0.07 million per day. Things sure do change fast in the cryptosphere. A year ago Poloniex was top dog, dominating altcoin trading, and not 12 months later has fallen 20 spots.

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Crypto Exchanges – Where to buy bitcoin

Where can I buy and trade bitcoin?

With so much news about bitcoin and cryptocurrencies lately, a lot of you may be asking yourselves “where can I buy bitcoin?” and trade this new digital asset class. This may vary depending on where you are located and what coins you want to buy. In this post I’m going to provide an overview on the largest crypto exchanges and compare and contrast them so you can decide which is the best fit for you.

One final piece of advice from us here at Crypto is Coming: Be sure to use google authenticator for 2 factor authentication as an added layer of security when using ANY of these platform. If you buy bitcoin through one of these companies, make sure to go to our wallets guide to find out the best  way to store your bitcoin safely.

ExchangeReputationSupported
Countries
Ease
of Use
Available
Currency
Payment
Methods
Visit Site
Kriptomat IOStill New/Good so farEuropeVery EasyBTc, ETH, LTC, DASH, REP, +12 moreBank Transfer, Credit Card, Visit Kriptomat
Coinbase exchangeVery GoodUS +32
countries
Very EasyBTC, ETH, LTC
(More coins
coming 2018)
Bank transfer, credit card, Visit Coinbase
Bitfinex exchangeAverageNon US OnlyAdvancedBTC, XRP, ETH,
LTC,+60 more
CryptocurrencyVisit Bitfinex
Kraken ExchangeVery GoodWorldwideEasyBTC, XRP, ETH,
XLM,+40 more
Bank transfer, CryptocurrencyVisit Kraken
Bittrex exchange Very GoodWorldwideAdvancedNEO, ETH, LTC,
XRP,+100s more
CryptocurrencyVisit Bittrex
Binance exchangeVery GoodWorldwideAdvancedZEC, ETH, LINK,
XLM,+100s more
CryptocurrencyVisit Binance
Ploniex exchangeAverageWorldwideAdvancedXRP, LTC, XMR,
OMG,+100s more
CryptocurrencyVisit Ploniex
CEX.IO Very GoodWorldwideVery EasyBTC, ETH, BCH
DASH, ZEC,
+15 more
Credit card and bank transfersVisit Cex.io
GoodWorldwideVery EasyBTCBank transfer, credit card or bitcoinVisit Xapo
Bitmex GoodWorldwideExpertBTCCryptocurrencyVisit Bitmex
GoodWorldwideEasyBTC, ETH, NEO, LTC, BCH, +100s moreCryptocurrencyVisit Bitmex

Kriptomat

Kriptomat is a crypto-trading and e-wallet service officially licensed to operate within the EU. The exchange now offers 17 crypto-to-fiat pairs, a welcome feature for those who don’t wish to go through Bitcoin as a “middleman” currency in order to trade cryptocurrencies. With service and support in over 20 languages, the exchange is suitable for users from all over Europe. The cryptocurrencies currently on offer are Bitcoin, Ethereum, Litecoin, Augur, Gnosis, 0x, OmiseGO, Enjin, Status, SunContract, Metal, Civic, Request Network, FunFair, PropyDash, Litecoin and Loopring. For more details check out Kriptomat review here.

Coinbase (Gdax)

Based in San Francisco, California, Coinbase is the largest cryptocurrency exchange in the United States in terms of users. Backed by silicon valley VC, and with a valuation of $1.6 billion, Coinbase has become the go-to platform for new customers looking to buy Bitcoin for the very first time. Recently they’ve added as many as 100k users per day. Coinbase offers a easy use platform for buying and selling Bitcoin, Ethereum or Litecoin via bank deposit or credit/debit card (with associated fees). Among exchanges Gdax offers real time trading (and lower fees). Interface is one of the best, but it has been known to go offline in times of extremely high volume, so take that into consideration when using the platform.

While Coinbase is currently limited in terms of the currencies that it has listed, the company has vowed to add more coins in the coming year. Support tickets may take a while to receive a response depending on the urgency as they are growing faster than they anticipated. Visit Coinbase

Bitfinex

Based in the United States, Bitfinex is the largest crypto currency exchange in the world in terms of volume. Bitfnex offers trading for Bitcoin, as well as many of the largest and most well know alt-coins. Along with traditional spot trading, they also have margin trading, allowing users to trade with more capital than what they have in their account. The interface is one of the best in the industry although not exactly beginner friendly. Bitfnex allows crypto deposits for coins they support as well as wire transfers over a certain amount. They’ve recently come into question regarding their use of Tethers (USDT), a token backed by USD which facilitates that deposits on the platform, and have mentioned that a formal audit is on the way. Make sure to monitor this story in the coming weeks and months as it should shed light on the internal processes of the company. Visit Bitfinex

Kraken

Based in San Francisco, California, Kraken is the largest Bitcoin exchange in terms of euro volume and liquidity. The exchange also has trading for Bitcoin in Canadian dollars, US dollars, British pounds and Japanese yen making it a great option for users wanting to buy bitcoin internationally. Kraken was the first Bitcoin exchange to have trading price and volume displayed on the Bloomberg Terminal. It was also first to pass a cryptographically verifiable proof-of-reserves audit. The platforms supports BTC as well as many large and mid market cap alt-coins. Kraken also allows margin trading and deposits via bank wire or BTC and other cryptos. The interface is possibly the worst among the large exchanges with a trading engine that constantly freezes and requires users to refresh the page. Take this into consideration when trading on this platform. Visit Kraken

Bittrex

Based in the United States, Bittrex is the 2nd largest alt-coin exchange in the world in terms of volume (just recently surpassed by Binance). It has hundreds of currencies and tokens available for trading and has become the most trusted alt-coin exchange by crypto traders in 2017. Bittrex supports crypto deposits for any currency they have listed and have said they will integrate margin trading soon. Bittrex support is generally more responsive than other sites, but still not up to most users’s expectations. The interface is very good, minimalistic, easy to use and has a pretty good trading engine. Although the site has recently experienced some loading issues with the extreme growth the crypto space is experiencing, this has not affected them too much. Visit Bittrex

Binance

Based in China, Binance is a new and up and coming crypto exchange that has recently gained popularity and acceptance among the crypto trading community and actually surpassed Bittrex as the #1 alt-coin exchange in terms of volume. They allow cryptocurrency deposits for any coin or token they have listed and have one of the fastest and most reliable trading engines on the market along with lower fees than their competition. The interface is very good, easy to use and rarely has any lag when loading pages. The support is somewhat lacking compared to other exchanges so it might take a while longer for users to enhance their verifcation on the site for increased withdrawal limits. Binance is currently the number 2 alt coin exchange in terms of volume behind only Bittrex. Visit Binance

Poloniex

A US exchanged based out Delaware, Poloniex was the top alt-coin exchange in the world as recently as March, 2017. They offer alt-coin trading, crypto deposits and have a large variety of currencies and tokens listed on their platform. You cannot buy bitcoin with USD on Poloniex. The interface is pretty good, on par with some of the other sites, but they started having customer support and site connectivity issues earlier this year, prompting the two companies listed above to surpass them in terms of volume and community acceptance. Some of the concerns with Poloniex include withdrawal issues and the trading engine freezing in key moments causing users to lose some trust in the company.Visit Poloniex

XAPO

Xapo is incorporated in Hong Kong , has an office in Palo Alto, California and operates Worldwide. They provide both wallet and exchange services for Bitcoin with USD deposits through bank wire, credit/debit cards, some payment processors as well as BTC deposits.  They have a BTC debit card service and a great mobile app for android and iOS. Xapo places emphasis on security and  actually use a bunker in the swiss alps for storing private keys. Their online interface is simple and easy to use. A great place for new users to buy Bitcoin as well as one of the better online wallets to store Bitcoin. Visit Xapo

Kriptomat 

Kriptomat is a crypto-trading and e-wallet service officially licensed to operate within the EU. The exchange now offers 17 crypto-to-fiat pairs, a welcome feature for those who don’t wish to go through Bitcoin as a “middleman” currency in order to trade cryptocurrencies. With service and support in over 20 languages, the exchange is suitable for users from all over Europe.

The cryptocurrencies currently on offer are Bitcoin, Ethereum, Litecoin, Augur, Gnosis, 0x, OmiseGO, Enjin, Status, SunContract, Metal, Civic, Request Network, FunFair, PropyDash, Litecoin and Loopring. These currencies can all be traded against the Euro and the exchange is open to all 508 million inhabitants of the EU.

CEX.IO

Based out of London, CEX.IO offer exchange services for Bitcoin and Ethereum for users from most countries around the world. Currently they allow deposits via bank transfer and credit/debit cards and are registered with FinCEN which may give users an added sense of security. Their interface is beginner friendly but they do not have many different cryptocurrencies to choose from. CEX.IO may serve as an on-boarding platform from fiat currencies to BTC or ETH where users can initially enter crypto and then transfer over to other exchanges for a wider variety of alt-coins. Customer support is usually fast and done via email as well as extensive FAQ. Fees for the exchange are about industry average. Recommended for new users wanting to buy bitcoin internationally. Visit CEX.IO

Bitmex

Based in Hong-Kong, Bitmex is a real-time, cryptocurrency derivatives trading platform for professional investors. It provides currency futures trading, stock derivatives, and other financial products. Bitmex allows users to deposit in Bitcoin and trade Bitcoin and other large market cap alt-coins with the additional feature of futures trading (speculating on the future value of these assets). It operates in China, Europe, South Korea, and Japan as well as other selected non US countries. The site has a really good but not beginner friendly interface and a great trading engine, but lacks the liquidity when it comes to alt-coins. The advanced functionality of the platform, including futures trading, might scare off some users not accustomed to these types of markets.  Visit Bitmex

Kucoin

Based out of Hong Kong and trying to be the hottest cryptocurrency exchange by 2019 Kucoin is the latest hot exchange. Kucoin offers a great user interface and experience, good security through 2FA integration to trading, low trading fees and incentives for trading and holding the native coin Kucoin Share (KCS). You cannot send fiat to Kucoin so to start trading you must deposit one of the following: BTC, ETH, NEO, USDT, or BCH.

Kucoin is available to users worldwide and offers a load of trading pairs such as LTC/BTC, BTC/DASH, BTC/NEO, BTC/ETH, BTC/KCS, BTC/RPX, etc. As of this article Kucoin has a 24 hour volume of 75 million USD and is ranked 25th amongst other exchanges. Visit KUCOIN

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