How To Exchange BTC/Altcoins on Bitfinex

Bitfinex is a crypto-currency exchange trading and currency-storage platform based out of Taiwan, owned and operated by iFinex Inc. Since 2014, it has been the largest Bitcoin exchange platform, with over 10% of the exchanges' trading. Also, it should be noted that in 2016, Bitfinex was hacked, and $72 million in bitcoin was stolen from its customers.

When dealing with exchanges I tend to put a small amount of cryptos there, as indeed, I'm afraid of hacks.

For the past couple of month I've been using another exchange - Poloniex.com, but on Poloniex there are some altcoins not yet supported (as of writing this - the coins I'm looking to exchange IOTA and NEO). Luckily, they are supported on Bitfinex.

Top Cryptocurrencies I'm Looking to Acquire (Buy&Hold) in 2018

For acquiring coins (bitcoin, ethereum and litecoin) I'm using Coinbase.com exchange.

Affiliate link here: If you are just planning to acquire your first bitcoin, consider to register at coinbase.com with this link, once you buy or sell $100 (€85) of digital currency or more, we will both get $10 (€8) of free bitcoin.

Now once you have your bitcoins you are ready to exchange it to altcoins, as I'm looking just for  IOTA and NEO coins, I will show how to exchange on Bitfinex.

• Sign up for Bitfinex account
• Go to Deposits - > Bitcoin

Deposit Bitcoin of Bitfinex

As we are looking for exchange only, click on Click to generate address for Exchange wallet

Now, once you have your bitcoin wallet address at Bitfinex, you are ready to transfer bitcoin to that address from another address (Coinbase, for example)

Next head to the Trading and from the left sidebar pane in the search bar enter altcoin shortcode, for example, IOTA

Trading altocoins on Bitfinex

Fill out the order form and hit Exchange buy button.

Congrats, you just learned how to exhange bitcoin to altcoins on Bitfinex.