Welcome to Ethfinex
Ethfinex is the home of Ethereum based discussion and trading. As a hybrid exchange and information platform, Ethfinex gives you the opportunity to trade, discuss and crowdsource information from across the Ethereum ecosystem.
In addition to providing access to both centralised and decentralised trading, Ethfinex also offers quick and direct access to high-quality ERC20 crowdsales, allowing you to contribute to innovative projects directly from your exchange wallet.
Visit Ethfinex to create an account. Please note that if you already have a Bitfinex account, you can access Ethfinex using the same credentials.
To create your account, click the Sign Up button in the top-right corner and fill out your preferred username, email address and password. Make sure to use a unique password, different to passwords which you use on other services and save it on a piece of paper or a trusted password manager. Please note that by signing up to Ethfinex, you agree to our Terms & Conditions and our Anti-Spam policy.
When ready, simply press Open Account, confirm your email address and voila.
The first thing you need to do after creating your Ethfinex account is to optimise your security settings. Ethfinex provides a large number of security features that users can enable to further increase their account security. As a bare minimum, we strongly advise for all users to create a unique password for their Ethfinex account and to combine this with Google 2FA.
We have a number of additional recommendations for all users who wish to ensure the safety of their funds -
- Enable two-factor authentication (2FA).
- Lock withdrawals when a new IP address is used.
- Setup a withdrawal confirmation phrase.
- Lock or disable withdrawal addresses for all currencies.
- Disable "Keep Session Alive".
- Limit access to your account based on IP address.
- Enable PGP email encryption.
For more information, visit the Security section of the Ethfinex Knowledge Base.
We’ve put together a couple of guidelines to help you through the verification process -
Please keep in mind that, once submitted, verification of your account can take 6 - 8 weeks; however, you can still deposit, trade and withdraw ERC20 tokens prior to submitting or completing the verification process.
To get started with trading on Ethfinex, you will first need to deposit some funds. Keep in mind that verification is not a requirement to trade on Ethfinex.
To make a deposit, visit the Deposit section of your Ethfinex account, visible in the top right corner.
Choose the currency you wish to deposit (e.g. ETH), generate an address in the wallet you wish to send to and use that address as the receiving address.
There are 3 wallets to choose from - Exchange, Margin and Funding.
1. Exchange Wallet is used for buying & selling supported tokens.
2. Margin Wallet is used when trading on margin.
3. Funding Wallet is used when providing financing for other margin traders.
The most common type of wallet is the exchange wallet, which is used when buying and selling any of our supported digital currencies. It is simple and free to move funds between the three wallets, so do not worry if you are unsure about the correct choice.
We’ve put together a few guides to help you through the deposit process -
All ERC20 tokens are credited after a minimum of 20 confirmations (about 10+ minutes). Please keep in mind that deposit times can fluctuate hugely based on network congestion and the gas price used to send the deposit. You can track your deposit and its confirmation progress using www.etherscan.io and view current network statistics at www.ethgasstation.info.
Making Your First Trade
You are now ready to make your first trade. To make a trade, follow the steps listed below -
- Make sure your funds are on your Exchange wallet. To transfer funds to your Exchange wallet, follow the steps outlined here.
- Find to the Trading page and select the pair you wish to trade (e.g. ZRX/ETH - buying ZRx using ETH)
- In the Order Form, select the Exchange tab.
- Specify the Order Type, Order Size, and Price. Choosing Market Order will result in your order being executed at the current market price.
- When you have specified the type of order, size and price, click Exchange Buy or Exchange Sell to execute.
Using the ZRX/ETH example outlined above, Exchange Buy would purchase ZRX using your ETH whereas Exchange Sell would sell your existing ZRX for ETH.
Your order should now appear in the Orders section, visible below the chart. Once your order is executed, your funds will be credited to your Exchange Wallet and the executed (or cancelled) order will now move to the Order History tab.
Making your first trade on any exchange can be a little stressful as it often seems like there are many different things to choose from. We’ve put together another example below to help you make sense of it all.
The picture above shows an Order Form for the ETH/USD pair. At the very top, one can choose between Exchange (normal buying and selling) or Margin (trading on leverage, which we will get to later).
The first box, Limit, shows the type of order. A limit order allows you to specify the exact price and quantity you want (in contrast to e.g. a market order, which executes immediately against the best price available.
The second box, Price USD, is the price you wish to pay/receive per ETH. The third box, Amount ETH, is the total amount of ETH you wish to buy or sell. To buy ETH, click exchange buy; to sell ETH, click exchange sell.
We’ve put together a couple of resources which will help guide you -
For more information on trading, visit our Trading on Ethfinex support centre.
Discussions on Ethfinex
The Discussion side of Ethfinex will allow you to objectively discuss any listed token or tokensale with the entire Ethereum ecosystem. By crowdsourcing information and project analysis, with an integrated user reputation system to ensure high-quality content, we intend for the entire blockchain ecosystem to benefit and accelerate, together.
Discussions on Ethfinex are structured as a standard discussion forum where users have the option of either uploading posts under a specific category or commenting on previously uploaded posts.
Discussions regarding a specific project are divided into 5 categories-
- Token Structure
- General Discussions
Ethfinex is the first exchange to provide access to a number of high-quality, Ethereum-based token sales. Through Ethfinex, you have the chance to contribute funds directly from your Ethfinex exchange wallet, providing you peace of mind when making token sale contributions.
We have a trusted network of partners who support and work closely with several high-quality projects. Once these projects are vetted, they are able to reserve a portion of their token sale by whitelisting it for Ethfinex users.
We’ll reveal more information regarding the token sales as Ethfinex develops. In the meantime, we’ve put together an intro guide for you to learn more about the inner workings of our token sale platform. Additionally, have a look at -
Teams interested in applying to list their tokens to be traded on Ethfinex, or to allocate a portion of their crowdsale to users of Ethfinex, can provide the information required for further consideration through an online application. More information on this submission form will be shared in the next few weeks.
We’ve put together a guide to help you pass through the relevant checks. It is strongly recommended to supply all of the above information when completing the application and the reasons for any missing information must be addressed in a follow-up manual review.
Since Ethfinex is a community driven platform, the listing decisions are subject to customer consensus and ratings to help determine the token’s value. Accepted tokens will be listed on our Token Listing section to undergo community review.
Teams interested in listing their token should fill out the following form.
The Nectar token (NEC) acts as a loyalty token for Ethfinex users.
The Nectar token is not intended to raise funds for Ethfinex and will not be sold directly. Instead, the token is designed to maintain liquidity and market efficiency through the incentivisation of platform loyalty. Users who choose to register for the Ethfinex Market Maker scheme, taking on the role of market maker on the Ethfinex platform, will automatically generate NEC’s and earn a stake in the future development, governance and success of the platform.
As more tokens are earned, the ownership structure of Ethfinex will unconditionally become more decentralised, contributing to the vision of a truly community-owned exchange. Having a network of users that own the exchange will incentivise its owners to remain loyal users, benefiting all users through fostering liquidity and maintaining market efficiency.
NEC will adhere to the ERC20 Token Standard to ensure cross-compatibility with alternate exchange protocols interfacing with Ethfinex. This allows other protocols and exchanges to reward users for the liquidity they contribute.
We’ve compiled a list of resources to help you learn more about the NEC token:
If you are not a trader and prefer safer investments, then the Margin Funding feature might be for you.
Through your Funding Wallet you have the ability to provide funding to margin traders, in any of margin supported currencies on Bitfinex, earning interest on your holdings without subjecting yourself to the risks of active trading.
You can enter offers with your own chosen terms (desired return rate, loan duration and amount). When an offer is taken by a margin trader, the money in your Funding wallet will be used by the trader to open a position (buy or sell tokens) on margin. When the trader completes a trade by closing the position, the tokens are bought or sold back and the money, plus earned interest, is returned to your wallet.
Margin funding is a slightly more advanced topic but is quick to master. Additionally, your margin funding strategy can be set to auto-renew, putting your funding strategy on auto-pilot and earning you interest upon interest upon interest.
We’ve put together an intro to margin funding to get you started. To learn more, check out the following links:
Ethfinex also allows users to trade with up to 3.3x leverage, borrowing funding from the P2P margin funding platform to boost their trades.
Users can enter orders to borrow the desired amount of funding, at the rate and duration of their choice, or they can simply open a position and Ethfinex will take out funding for them at the best available rates.
Margin trading is an advanced, high-risk activity and needs to be carefully considered. We’ve put together a guide to margin trading for those interested in exploring this opportunity; we strongly recommend for all new users to read through this guide prior to engaging with margin trading.
Below are a few resources which you can look through for more information -
- Intro to margin trading
- Opening a margin position
- Closing a margin position
- Margin trading FAQ
- Ethfinex margin call policy
To withdraw cryptocurrencies, make your way to the withdrawal page.
From here, select the cryptocurrency you wish to withdraw, e.g. Ethereum, and fill out the information as required. This includes filling out -
- The external address (where you wish to send the funds)
- The amount you wish to send
- The wallet you wish to send from (e.g. Exchange wallet)
After confirming that you have read and understood the conditions for auto-withdrawal processing, click request withdrawal.
We’ve put together an in-depth guide to making withdrawals, which should assist you through the process. Below are a compilation of resources which may answer any potential questions you may have -
- Withdrawal processing times
- Why was my withdrawal cancelled?
- Why do I have a withdrawal hold?
- Withdrawal reports
For an in-depth overview of your account activity history (trades, deposits/withdrawals, balances, funding) you can make your way to the reports section. Reports can be downloaded for whichever date range required, in spans of 3 months at a time.
- Make your way to Reports.
- Select the type of report you would like to download.
- Select the appropriate Date Range.
- Press View for a quick view of the report.
- Press Download to download the report.
Visit the links below for specific guides to viewing/downloading reports -
To stay up to date with Ethfinex, stop by our communities below -
If you have any questions, stop by our Telegram and let us know.