Bitfinex KYC has four verification levels: Basic Access, Basic Plus, Intermediate and Full. Basic Access is view-only. Basic Plus takes a photo ID and a selfie and clears in 10 to 30 seconds, which is enough for spot trading and crypto transfers. Margin needs Intermediate. USD bank wires need Full.
Key Takeaways
- Bitfinex has four levels: Basic Access, Basic Plus, Intermediate and Full.
- Basic Access is view-only. You cannot trade with just an email.
- Basic Plus needs a photo ID and selfie and verifies in 10 to 30 seconds.
- Margin and derivatives need Intermediate, which takes 2 to 3 working days.
- USD bank transfers need Full verification and a bank statement.
The Four Bitfinex Verification Levels
Each level asks for everything in the level below it, plus more.
| Level | What you submit | Review time |
|---|---|---|
| Basic Access | Email address only | Immediate |
| Basic Plus | Official photo ID, biometric photo (selfie), phone number, residence address | 10 to 30 seconds |
| Intermediate | Basic Plus items, a second official photo ID, proof of address, financial questionnaire, KYC declaration | 2 to 3 working days |
| Full | Intermediate items plus a bank statement | 2 to 3 working days |
Bitfinex warns that reviews can take longer if an application is incomplete or submitted during a busy period. You get an email when the account is verified.
Corporate accounts skip Basic Plus. They have three levels: Basic Access, Intermediate and Full, and need at least Intermediate to deposit, withdraw or trade.
What Each Level Opens
| Feature | Basic Plus | Intermediate | Full |
|---|---|---|---|
| Exchange (spot) trading | Yes | Yes | Yes |
| OTC trading | Yes | Yes | Yes |
| Crypto and stablecoin deposits and withdrawals | Yes | Yes | Yes |
| Card purchases (Mercuryo, Simplex) | Yes | Yes | Yes |
| Staking rewards | Yes | Yes | Yes |
| Margin trading and margin funding | Only accounts created before March 1, 2022 | Yes | Yes |
| Bitfinex Borrow | Only accounts created before March 1, 2022 | Yes | Yes |
| Derivatives trading | No | Yes | Yes |
| SEPA transfers via OpenPayd (EUR, GBP) | No | Yes | Yes |
| International bank transfers | No | No | Yes |
| UNUS SED LEO fee discounts | No | Yes | Yes |
| Trading competitions | No | Yes | Yes |
Derivatives and competitions carry restrictions in some jurisdictions, and certain tokens are limited to specific regions.
Basic Access: What You Get With Just an Email
Not much. Bitfinex calls Basic Access a view-only mode. You can look around, but you cannot trade.
One exception: certain Basic Access accounts can withdraw cryptocurrency worth less than $1,000. Anything above that, and any fiat or stablecoin movement, requires an upgrade.
Basic Plus: Enough for Most Spot Traders
Basic Plus is the practical starting point. You upload an official photo ID and a selfie, then add your phone number and home address. Verification is instant in most cases.
It covers spot trading, OTC, crypto and Tether token deposits and withdrawals, card purchases and staking rewards. In rare cases Bitfinex may ask for more information.
Intermediate and Full: Margin, Derivatives and Fiat
Intermediate is the level leveraged traders need. Accounts created after March 1, 2022 must reach it before using margin trading, margin funding, Bitfinex Borrow or increasing a position.
It also opens euro and pound transfers through OpenPayd, plus one perk for active traders: fewer confirmations on crypto deposits.
Full verification adds a bank statement and opens international bank transfers. USD transactions require Full.
Fiat minimums and fees
- International bank transfer: minimum deposit and withdrawal of 10,000 USD, EUR or GBP.
- OpenPayd SEPA: no minimum or maximum deposit, minimum withdrawal of €25 or £25.
- OpenPayd transfer fee: €5 or £5 per transaction, on both deposits and withdrawals.
Which Bitfinex Level Do You Need?
- Buying and holding crypto: Basic Plus. It covers spot trading, card purchases and crypto withdrawals.
- Trading with leverage: Intermediate, unless your account dates from before March 1, 2022.
- Lending on margin funding: Intermediate.
- Moving euros or pounds: Intermediate, through OpenPayd.
- Moving US dollars by bank wire: Full, with a 10,000 minimum per transfer.
- Opening a company account: Intermediate at minimum.
Start with Basic Plus either way. It is instant, and every higher level builds on the same documents.
Two small form tips from Bitfinex
- If your ID has no expiration date, select the last date available on the verification page.
- If your phone number has no area code, leave that field empty.
Bitfinex also reserves the right to ask for KYC information at any time if account activity raises flags.
Proof of Address Bitfinex Accepts
The document must be no older than 90 days. Bitfinex accepts:
- Utility bill (water, gas, mobile, internet)
- Letter from a government department
- Tax statement
- Insurance statement
- Credit card statement
- A certified statement from a notary
- Formal tenancy agreement with at least 6 months remaining
- Residence registration record from a government authority
- National ID card showing your current address, if issued within the last 2 years
Handwritten or informal rental agreements are not accepted. A national ID issued 2 to 5 years ago needs a second proof of address alongside it.
Does Bitfinex KYC Affect Fees?
Not the headline rate. Bitfinex trading fees are 0% maker and 0% taker, as covered in our Bitfinex fees breakdown. Verification decides which products you can reach, and UNUS SED LEO discounts start at Intermediate.
For a comparison, our Kraken fees guide shows how another long-running exchange ties features to verification.
Frequently Asked Questions
How many KYC levels does Bitfinex have?
Four for individual accounts: Basic Access, Basic Plus, Intermediate and Full. Corporate accounts have three: Basic Access, Intermediate and Full.
Can I trade on Bitfinex without KYC?
No. Basic Access, which needs only an email, is a view-only mode. Bitfinex says individuals need Basic Plus to deposit, withdraw and use exchange trading.
What documents does Bitfinex Basic Plus require?
An official photo ID, a biometric photo (selfie), your phone number and your residence address. Bitfinex says this level verifies in 10 to 30 seconds.
How long does Bitfinex verification take?
Basic Access is immediate and Basic Plus takes 10 to 30 seconds. Intermediate and Full take 2 to 3 working days, and longer if the application is incomplete.
Which Bitfinex level do I need for margin trading?
Intermediate, for any account created after March 1, 2022. Only older accounts can use margin trading, margin funding and Bitfinex Borrow with Basic Plus.
Which Bitfinex level do I need for bank transfers?
Intermediate covers euro and pound transfers through OpenPayd. International bank transfers and USD transactions require Full verification.
