How to Buy Bitcoin on Bitfinex

How to Buy Bitcoin on Bitfinex

Bitfinex is a famous veteran exchange owned by the same company that issues USDT. You can also check out our Bitfinex review for more information.

Here is a step-by-step guide on how to buy Bitcoin on Bitfinex.

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

1. Register an Account on Bitfinex

Follow our link and head to the official Bitfinex website.

Sign up for the exchange. Use a valid email address, as Bitfinex will send you an account activation email. Click on the link to log into your account.

You must enable 2FA to complete your login. 

Bitfinex offers Google Authenticator and Fido Universal for 2FA. Select the one you want to use and click “Setup.”

Download the official Google Authenticator app to your mobile device and use the app to scan the QR code on your screen. Enter the code from the app to the Bitfinex 2FA form. Click  “Enable.”

Go to your email and open the Bitfinex 2FA activation email. Click “Activate Token 2FA Now.”

2. Get Verified on Bitfinex

Go to your profile by clicking the profile icon on the upper right corner of the page. Select the “Verification” tab. There are three ID verification levels on Bitfinex. 

Basic Plus verification allows you to deposit cryptocurrencies into your account. However, as most beginners don’t own crypto, the best option is to complete at least intermediate-level verification. That way, you can buy crypto with your credit card.

If you complete full verification, you can deposit fiat money to your account via wire transfer.

Select the verification level and click “Start Verification.”

Select the official ID document you will upload to Bitfinex.

You will see a QR code on the screen. When you scan the code with your phone, it will prompt you to upload your documents.

3. Deposit Funds/Crypto

Go to your home screen and click “Deposit.” You can deposit various assets, including crypto and fiat (if you have completed full verification).

Choose the currency you want to upload from the list and follow the instructions on the screen.

If you are depositing crypto, Bitfinex will generate a new wallet address for you to deposit your assets. Use the deposit address to send your crypto to Bitfinex.

You can see your deposits in your “Balances” tab.

4. Navigate to the Relevant Screen to Buy

If you deposited cash to the platform to buy BTC, you need to move those funds to your exchange wallet before you start buying Bitcoin.

Go to your “Balances” tab. You will see your funds are in your “Funding Wallet.” Transfer those funds to your “Exchange wallet” by clicking “Transfer.”

Click “Trading” to start trading your funds for BTC.

On the trading page, use the search function to select BTC/USD pairing. (If you have crypto assets or another fiat currency, you can select one of those: for example, ETH/BTC or EUR/BTC).

Click on the desired pairing to be taken to the trade order form. Fill out the form by entering how much you want to spend on Bitcoin and click “Exchange Buy.”

Congrats! This is how to buy BTC on Bitfinex. You can see your order details in the “Reports” tab on your profile.