How to Buy Ethereum on Bitfinex

Do you want to buy Ethereum on Bitfinex? We have just the right guide for you with step-by-step instructions. Here is how to buy Ethereum on Bitfinex.

A Step-By-Step Guide on How to Buy Ethereum on Bitfinex

1. Register an Account on Bitfinex

To start, you will need a Bitfinex account.

After you sign up, enable the two-factor authentication to secure your account.

You can turn 2FA off after your first login, though it is recommended to keep it enabled to protect your account from hackers.

It’s pretty simple to enable two-factor authentication: Select one of the offered methods and hit “Setup.”

Of course, you need the Google Authenticator app to get it working. Follow the instructions on the screen to proceed. When you are done, Bitfinex will send you an email to confirm you have enabled 2FA.

2. Get Verified on Bitfinex

The next step is to verify your ID on the platform. Like most exchanges, Bitfinex has a standard ID verification process. To start, go to your profile via the profile logo on your dashboard and select “Verification.”

You must complete at least intermediate-level verification to buy digital assets like Ethereum on the exchange with fiat money. Of course, if all you want to do is to trade cryptocurrency pairs, for example, trading Bitcoin for Ethereum, you can skip this step.

Intermediate verification allows you to buy ETH with a credit card through Bitfinex Pay Merchants or make cash deposits via SEPA. You can make wire deposits after completing full verification.

Hit “Start Verification” to continue.

Enter the name of your residence country to see the recommended ID types. Choose the ID you want to submit and hit “Continue.”

You will need a mobile device to continue: Use your phone camera to scan the code and open up the upload page. Then, you can submit the necessary pictures.

3. Deposit Funds/Crypto

Now it’s time to make a deposit: If you have digital assets that you want to trade for Ethereum on Bitfinex, you must first transfer those assets to your Bitfinex account. Select “Deposit” to see a list of assets you can send to the platform.

Once you select your asset, Bitfinex will generate a wallet address to send your cryptocurrency. Once you complete your deposit, your assets will show up in your “Balances” tab.

4. Navigate to the Relevant Screen to Buy

You may think you are ready to buy digital assets now that your deposit is complete, but there is one more step before that: Bitfinex automatically send your deposit to your “Funding Wallet,” but we want them in our “Exchange Wallet.”

Thankfully, it’s a simple operation: In your “Balances” tab, select the funds you want to exchange and click  “Transfer.” Once they are in the exchange wallet, you can trade them for Ether.

To start, go to the “Trading” tab. Now, if you deposited digital assets, you want to search for the Ethereum market for that asset. For example, if you have USDT, search for ETH/USDT. 

For fiat currency, search for ETH/USD or ETH/EUR pairings. Once you get the pairing you want, click on it to see the trading interface. 

Simply enter how much Ethereum you want to buy for your assets. You can manually adjust the price you’re willing to pay. Once the form is complete, hit “Exchange Buy.”

And that’s how to buy Ethereum on Bitfinex. If you decide to buy Ethereum on a different exchange, you may also look at our various exchnage reviews and guides.