Bitfinex vs BitMEX : Which one is better for your business?

The "Corporate & Professional" category is essential for our business as it caters to high-value clients, offering specialized services that meet their advanced trading needs. By comparing Bitfinex and BitMEX, we will evaluate key aspects such as trading speed, security, customer support, and advanced trading options to determine which platform best serves professional traders.

A quick overview on Bitfinex and BitMEX

What is Bitfinex?

Bitfinex is a cryptocurrency exchange that provides a platform for trading digital assets, catering to both individual and institutional traders. Unique features include institutional-grade connectivity through co-location and cross connectivity, expedited verification for corporate accounts, and dedicated customer support. Additionally, Bitfinex offers advanced trading options and dedicated servers for high-volume trading.

What is BitMEX?

BitMEX is a cryptocurrency trading platform designed for institutional and professional traders, offering derivatives, spot trading, and crypto buying and converting. Unique features include multi-party computation for asset security, proof of reserves published twice a week, and a robust insurance fund to manage unfilled liquidation orders. Additionally, BitMEX provides low latency trading, best-in-class APIs, and 24/7 bespoke support.

Features of Bitfinex and BitMEX

Bitfinex features

Bitfinex offers a range of unique features that cater to the needs of corporate and professional traders:

• Co-location and Cross Connectivity: Bitfinex partners with Market Synergy to provide the fastest trading speeds and low-latency connectivity solutions.
• Sub-Accounts: Corporate and professional traders can create and manage multiple sub-accounts, allowing for better organization and control.
• Expedited Verification: The platform offers a quick and efficient verification process to comply with AML, KYC, and CTF regulations.
• Dedicated Customer Support: Bitfinex provides Tier One customer support available 24/7 to assist with any issues or inquiries.
• Green Lane Access: This feature allows for increased withdrawal limits and faster processing, enhancing the overall trading experience.

BitMEX features

BitMEX offers a range of unique features that cater to the needs of corporate and professional traders:

• Security & Custody: BitMEX has maintained zero crypto loss since 2014, utilizing multi-party computation (MPC) for secure asset holding.
• Proof of Reserves and Liabilities: BitMEX was the first to publish proof of reserves in 2021, conducting this process twice a week to ensure high transparency and confidentiality.
• Insurance Fund: The platform uses an insurance fund to manage unfilled liquidation orders, providing an additional layer of security for traders.
• Low Latency: BitMEX guarantees under 4ms latency, ensuring a smooth and efficient trading experience.
• 24/7 Bespoke Support: Dedicated Relationship Managers are available around the clock to provide seamless support for institutional clients.

Comparing Bitfinex, BitMEX and OneSafe's features

Why choose one over the other?

• Why Choose Bitfinex Over BitMEX: Bitfinex offers a more streamlined verification process, making it easier and faster for corporate accounts to get started. Additionally, Bitfinex's partnership with Market Synergy ensures top-notch connectivity solutions, including co-location and cross-connectivity, which can be crucial for high-frequency traders.
• Why Choose BitMEX Over Bitfinex: BitMEX stands out with its robust security measures, having maintained zero crypto loss since 2014 through multi-party computation. Furthermore, BitMEX's insurance fund and proof of reserves provide an extra layer of security and transparency, making it a reliable choice for institutional traders concerned about asset safety.

Considering OneSafe vs Bitfinex and BitMEX

• Why Choose OneSafe Over Bitfinex and BitMEX: OneSafe offers a comprehensive suite of traditional banking services, including ACH transfers, bill payments, and corporate cards, which are not available on Bitfinex or BitMEX. Additionally, OneSafe supports multi-currency accounts and seamless payment options, making it an ideal choice for businesses with global operations.

What are the customers saying?

Bitfinex reviews

Users have mixed opinions about Bitfinex. While many appreciate its high security measures, advanced features, and liquidity, others find the verification process complicated and the fees high. Customer support and account management also receive criticism.

The overall rating for Bitfinex is 3.8 out of 5 stars.

• "I like the most about this platform because it's very secure, fast, and comes with a set of advanced features. Also, the Bitfinex platform has a mobile app, high liquidity, and many cryptocurrencies." - Ahmed M.
• "He estado usando este intercambio para vender y comprar criptomonedas durante varios años porque ofrece buena seguridad y también tiene un gran volumen de mercado para las criptomonedas más importantes, como Bitcoin o Ethereum." - Billy S.

For more details, visit the Bitfinex Reviews 2024 page on G2.

BitMEX reviews

Users have mixed feelings about BitMEX. Some appreciate the high leverage options and the variety of trading products, while others are frustrated with the platform's technical issues, such as freezes and failed order executions. The platform is noted for its complexity, making it more suitable for experienced traders.

The overall rating users have given BitMEX is 3.1 out of 5 stars.

• "The only good thing about Bitmex is being able to trade on high leverage, however, many new platforms such as PrimeXBT and Deribit are taking the spotlight lately." - Verified User in Capital Markets
• "The thing that I love the best is how easy they have made it to use." - Gage M.

For more details, visit the BitMEX Reviews 2024 page on G2.

OneSafereviews

Users have expressed high satisfaction with OneSafe, particularly praising its customer support and the seamless integration of its services into their business operations. The overall rating users have given OneSafe is 4.7 out of 5 stars.

• "OneSafe has the best customer support I've ever experienced from a bank." - Amit Chu, Investments @ Celo Foundation
• "OneSafe is a game-changer. They solve so many headaches for our company. Finally, a banking solution that gets it." - Marco, CEO of Ensuro

For more details, visit the OneSafe page.

Bitfinex, BitMEX, or OneSafe: Which is the best platform for you?

In conclusion, while Bitfinex and BitMEX offer robust features tailored for professional traders, OneSafe stands out with its comprehensive suite of traditional banking services and exceptional customer support. Each platform has its strengths, but for businesses seeking a seamless and integrated financial solution, we recommend OneSafe. Ultimately, the best choice depends on your specific needs and trading preferences.