If you're finding Bitfinex's complex verification process or high commissions on fiat currency transactions to be a challenge, you're not alone. This guide will break down what Bitfinex is, explore the reasons it might not be the right fit for everyone, and present other options for your banking and global payment needs.
What is Bitfinex?
Founded in 2012, Bitfinex is a cryptocurrency exchange designed for professional and institutional traders. The platform offers advanced features like margin trading with up to 10x leverage and high liquidity, as noted in a Bitfinex review.
Its fee structure is tiered, rewarding high-volume traders and holders of its native token with lower rates. User feedback often praises the platform's security, though some find its verification process and fiat commissions to be drawbacks.
What to Consider When Selecting a Bitfinex Alternative?
When searching for a platform to replace Bitfinex, it's helpful to weigh several key aspects to find the right fit for your business needs:
- Fees and Pricing Structure: Look for transparent, low-cost transaction fees, especially for fiat-to-crypto conversions and international payments.
- Fiat and Crypto Capabilities: Evaluate how well the platform bridges traditional banking with digital assets, such as offering direct stablecoin conversions.
- Ease of Use: Consider platforms with intuitive interfaces and straightforward onboarding processes, especially if you find Bitfinex's complexity a hurdle.
- Business-Specific Features: Determine if you need tools beyond trading, such as payroll processing, expense management, or invoicing.
- Customer Support: Assess the quality and responsiveness of the support team, as reliable assistance is essential for managing your company's finances.
If these considerations strike a chord, the following section details several strong alternatives worth exploring.
10 Best Alternatives to Bitfinex
1. OneSafe
At OneSafe, we offer a finance platform designed to modernize banking for businesses, particularly those operating in the Web3 and crypto sectors. Our services are built to streamline complex financial operations, providing a straightforward approach to managing both traditional and digital assets.
We enable direct 1:1 conversions between USD and USDC on Polygon, which simplifies payroll and expense management for global teams. Our platform also delivers end-to-end expense management, rapid account setup, and responsive customer support tailored for organizations handling digital payments.
Pricing
Here's a look at our straightforward pricing:
- Free Account Services: We don't charge for account opening, maintenance, monthly subscriptions, or card issuance, and there's no minimum balance required.
- Low-Cost Domestic Transfers: Pay just 0.1% for ACH and standard wires, or a flat $25 fee for Fedwire transfers.
- Competitive International Payments: SEPA payments in EUR are only 0.2%, while international wires are 0.2% plus a standard $50 SWIFT fee.
- Transparent Crypto Fees: USDT transactions have a simple 0.1% fee, and our fiat-to-crypto conversions come with no hidden charges—just market rates.
- 3% Corporate Card FX: For any spending on your corporate card in a non-USD currency.
Reviews
Users consistently praise our platform for its exceptional customer support and its ability to solve complex banking headaches for modern businesses, especially those in the Web3 space.
- Amit Chu, Investments @ Celo Foundation: “OneSafe has the best customer support I've ever experienced from a bank.”
- Marco, CEO of Ensuro: “OneSafe is a game-changer. They solve so many headaches for our company. Finally a banking solution that gets it.”
Want to see what we can do for your business? Check us out here.
2. Novo
Novo is a financial technology company that provides business deposit accounts insured by the FDIC through its partnership with Middlesex Federal Savings. It offers a mobile-first banking platform tailored for small business owners, freelancers, and entrepreneurs.
The account has no monthly fees or minimum balance requirements and includes a tool for creating and sending invoices. Additionally, the platform connects with various business applications and provides refunds on ATM fees.
Pricing
Novo provides a business checking account with no monthly fees, minimum balance requirements, or transaction fees. The account includes free incoming wires and provides refunds on ATM fees up to a specified monthly amount.
Reviews
User feedback often centers on the platform's customer service, account management, and dispute resolution processes. Some customers report issues such as slow support responses, difficulties with account access, and challenges with fraud handling. Check out more Novo reviews here.
3. Airwallex
Founded in 2015, Airwallex is a financial technology company that provides a suite of services including cross-border payments, multi-currency business accounts, and expense management. The company also offers corporate cards to its business clients.
The platform enables businesses to hold funds in over 20 currencies and make local transfers to more than 120 countries. Additionally, it provides corporate cards with zero international fees and offers integration with accounting software like Xero and QuickBooks.
Pricing
Here's their pricing at a glance:
- Free Explore Plan: For small businesses that deposit at least $5,000 per month or maintain a minimum balance of $10,000. This plan includes multiple business accounts, free transfers to over 120 countries, and access to interbank FX rates.
- $99/month Grow Plan: For growing businesses, this tier includes all features of the Explore Plan, plus international batch transfers, expense management, and bill pay services.
- $499/month Accelerate Plan: Aimed at large businesses, this plan adds centralized management of finances across global entities and single sign-on capabilities to the Grow Plan's features.
- Custom Plan: Pricing is tailored for high-volume businesses or those requiring custom API implementations.
Reviews
User feedback indicates a range of experiences with the platform. Some customers report issues with customer service response times, account suspensions, and the onboarding process. Check out more Airwallex reviews here.
4. Hype
Hype is an Italian fintech company founded in 2015 that provides digital banking services. It offers financial management solutions for both individuals and businesses, including a specific service called HYPE Business for professionals and small enterprises.
The platform operates through a mobile app that provides real-time notifications and includes tools for budgeting and setting savings goals. Users can also make instant payments and manage their expenses through the application.
Pricing
HYPE Business has a monthly fee of €2.90, which includes a World Elite Mastercard, free SEPA transfers, and free F24 payments. The service also provides free cash withdrawals in euros and access to expense monitoring tools; for more detailed pricing information, HYPE advises direct contact.
Reviews
User feedback often points to issues with customer support responsiveness and the presence of ads within the app. Check out more Hype reviews here.
5. Kontist
Kontist is a German financial service provider that offers business banking solutions designed for freelancers and self-employed individuals. The company provides users with a business account that includes a German IBAN and a physical Visa debit card.
The service integrates automatic tax estimation and real-time tax calculation into its platform. This functionality enables users to allocate funds for tax payments as income is received.
Pricing
Here's their pricing at a glance:
- Free Business Account: Includes a German IBAN, a physical Visa debit card, and real-time tax estimation.
- €11/month + VAT Start Plan: Adds subaccounts and 30 SEPA transfers.
- €25/month + VAT Plus Plan: Includes VAT return and business evaluation.
Reviews
User feedback indicates some customers have experienced issues with high fees for certain services and slow customer support responses, while others have noted concerns about transaction limits. Check out more Kontist reviews here.
6. Soldo
Soldo provides a spend management platform designed to help businesses control and streamline their expenses. It uses a combination of a user app and versatile payment methods to manage decentralized spending.
The service includes real-time monitoring of multi-currency expenses, customizable user roles, and integration with accounting software like Xero. This approach allows employees to make necessary purchases while the company maintains financial oversight.
Pricing
Soldo offers a tiered pricing structure, but specific details are not publicly available. The company advises potential customers to contact them directly for detailed pricing information.
Reviews
User feedback indicates a range of experiences with the platform, with some reviewers reporting issues such as login problems, slow statement delivery, and challenges with account closure. There are also mixed opinions regarding customer support response times and the quality of assistance. Check out more Soldo reviews here.
7. Brex
Founded in 2017, Brex is a financial technology company that offers a suite of services including corporate credit cards, expense management, and business accounts. These tools are consolidated into a unified platform designed to manage a company's financial operations.
The platform provides AI-powered custom rules, real-time reporting, and accounting integrations to help with financial management. Its services are structured to accommodate startups, mid-sized companies, and global enterprises.
Pricing
Here's their pricing at a glance:
- Free Essentials: This plan includes global card acceptance, AI-powered custom rules, accounting integrations, local currency wires, travel booking, real-time reporting, Brex API access, bill pay, and reimbursements.
- $12/user/month Premium: This tier includes all Essentials features, plus multiple customizable expense policies, dynamic expense review chains, AI-powered compliance audit detection, advanced approvals, multi-entity support, customizable ERP and HRIS integrations, VAT documentation, group travel, advanced travel rules, and live budgets.
- Custom Enterprise: This plan includes all Premium features, along with unlimited US or global entities, local card issuance, collections, reimbursements, policies, a named account manager, and fully customizable implementation services. Pricing is customized based on specific requirements.
Reviews
User feedback highlights issues with customer service, citing unresponsiveness and difficulties in resolving complex queries. Some reviews also mention challenges with account management, including sudden account closures without notice. Check out more Brex reviews here.
8. Anna Money
ANNA Money is a UK-based financial service provider that offers business accounts tailored for small and medium-sized enterprises, freelancers, and creative professionals. The company's platform is designed to handle various financial tasks for these specific business types.
Its service combines invoicing, receipt scanning, and tax calculations, with account setup taking under 10 minutes. The platform also includes expense management by matching receipts to transactions and facilitates payroll through bulk payment options.
Pricing
ANNA Money's pricing is usage-based, with plans starting at £0 per month. Users are charged only for the services they use, and no monthly fee is applied if the account is inactive for a month.
Reviews
User feedback indicates a range of experiences, with some customers reporting issues such as account freezes and difficulties accessing their funds. Check out more Anna Money reviews here.
9. Finom
Finom is a European fintech company founded in 2019 that provides digital banking and financial management services for SMEs, freelancers, and the self-employed. The platform offers online accounts with local IBANs, invoicing, accounting integrations, and expense management tools.
The service provides free physical and unlimited virtual debit cards, offers up to 3% cashback on business purchases, and supports multiple currencies for international payments. Finom's platform is designed with a user-friendly interface and provides customer support to assist with financial operations.
Pricing
Here's their pricing at a glance:
- Free Solo Plan: Includes one user, a personal IBAN, free physical VISA cards, and basic invoicing features.
- €9/month Start Plan: Includes two users, a personal IBAN, free physical VISA cards, and advanced invoicing features.
- €28/month Premium Plan: Offers five users, a personal IBAN, free physical VISA cards, and invoicing and accounting integrations.
- €149/month Corporate Plan: Provides ten users, a personal IBAN, free physical VISA cards, and advanced invoicing and accounting features.
- €339/month Enterprise Plan: Includes fifteen users, a personal IBAN, free physical VISA cards, and all features from the Corporate Plan.
Reviews
User feedback indicates a range of experiences, with some customers reporting issues related to unexpected fees, account management, and transaction processing. Check out more Finom reviews here.
10. Wise
Wise, formerly known as TransferWise, is a UK-based financial technology company established in 2011. The company specializes in international money transfers, utilizing the mid-market exchange rate for its transactions.
The platform offers a multi-currency account for holding funds in over 40 currencies and provides a debit card for global spending. Its services extend to both individual and business clients through Wise Business and Wise Platform.
Pricing
Wise operates on a pay-as-you-go model with no monthly fees, where charges for sending money start from 0.57% and vary by currency. There is a one-time $31 setup fee for business account details and a $9 fee for the multi-currency card, while holding funds in the account is free.
Reviews
User feedback indicates some customers have reported issues such as account freezes and unresponsive customer support. Check out more Wise reviews here.
Which One Should You Go With?
Choosing the right financial partner is a significant step, and any of the platforms listed can serve as a capable alternative to Bitfinex. If you're a modern business navigating the complexities of digital and traditional finance, we believe OneSafe offers the most direct path to streamlined operations. Ready to see the difference? Sign up for OneSafe today.
