Blofin Overview
Founded in 2019, Blofin Exchange has established itself in the cryptocurrency trading market with significant trading volumes. Blofin processes $433.20 million in daily spot volume and $9.73 billion in futures trading volume, indicating strong market liquidity and active trading participation.
Blofin currently serves over 2 million users globally, offering access to 394+ spot trading pairs and 329+ futures contracts. A key distinguishing factor is the platform’s no-KYC trading option, allowing withdrawals of up to $20,000 daily without identity verification requirements.
The fee structure sets Blofin apart from other exchanges, with particularly competitive rates for futures trading at 0.02% maker and 0.06% taker fees. Blofin provides high-leverage up to 150x on futures contracts, combined with spot trading fees fixed at 0.10% for both makers and takers.
Crypto payment currencies extend to USD, EUR, GBP, and 18+ additional fiat currencies, making Blofin accessible to users from multiple regions. The exchange maintains 24/7 customer support through live chat and email channels, ensuring continuous assistance for trading activities.
Blofin Pros & Cons
While Blofin has lots of great features, there are also a few downsides. Below, you will find all pros and cons about Blofin.
| ✅ Pros | ❌ Cons |
|---|---|
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Signup & KYC
Blofin implements a tiered KYC system that balances accessibility with security requirements. The basic account level requires no KYC verification, allowing immediate access to trading features with a $20,000 daily withdrawal limit. This option particularly benefits users seeking quick platform access without lengthy verification processes and staying anonymous. For higher withdrawal limits, you can complete the identity verification.
The KYC verification levels are structured as follows:
| KYC Level | Daily Withdrawal Limit | Features | Requirements |
|---|---|---|---|
| No KYC | $20,000 |
|
No identity verification required |
| Level 1 | $1,000,000 |
|
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| Level 2 | $2,000,000 |
|
Full identity verification |
Blofin Products, Features, & Services
Blofin Exchange provides a comprehensive suite of trading services centered on spot and futures markets. The platform supports 394+ cryptocurrency pairs for spot trading, enabling direct crypto-to-crypto exchanges at market rates. The futures trading section offers 329+ contracts with leverage of up to 150x, suitable for traders seeking higher exposure positions.
The Blofin exchange implements automated trading capabilities through its bot trading system, allowing users to execute algorithmic trading strategies. Trading tools include advanced charting features, multiple order types, and real-time market data analysis. Blofin only allows trading against USDT, while fiat currency trading is not supported.
While Blofin focuses on core trading functionalities, it currently does not offer certain features such as crypto options trading or P2P services.
Blofin maintains a straightforward approach to cryptocurrency trading, prioritizing essential services over auxiliary features. Account tiers are structured based on KYC verification levels, with corresponding withdrawal limits ranging from $20,000 to $2,000,000 daily.
| Features | Details |
| Buy Crypto | Purchase cryptos with your credit or debit card |
| Spot Trading | Access 400+ cryptocurrencies on the Spot market with 0.1% fees |
| Futures Trading | Trade 320+ cryptos with 150x leverage and 0.02% maker and 0.06% taker fees |
| Copy Trading | Automatically copy the trades of successful lead traders on Blofin |
| Earn | Earn a 0.1% – 3.5% APR with flexible or fixed durations |
| Rewards Hub | Earn trading bonuses of up to $10,000 |
| Referral Program | Invite your friends and earn commissions |
Blofin Supported Assets
Blofin maintains a wide selection of tradable assets across both spot and futures markets. In the spot trading section, users can access 394+ trading pairs, encompassing major cryptocurrencies, altcoins, and emerging digital assets. The futures market extends to 329+ contracts, providing derivative trading options across various cryptocurrency pairs.
Trading pairs include combinations with major cryptocurrencies serving as base currencies. Blofin supports multiple fiat currencies for trading and account holdings, including USD, EUR, GBP, and 18+ additional options. This multi-currency support facilitates easier access for international users.
Unlike some competitors, Blofin operates without a native token, which means no token-based fee discounts or additional utility features are available. However, this approach maintains a straightforward trading environment focused on market cryptocurrencies rather than platform-specific tokens.
Blofin Trading Features
Spot Trading
The spot trading section provides direct access to cryptocurrency trading across 394+ pairs. Blofin implements a maker-taker fee model with 0.10% rates for both sides. Spot trading features include:
Market depth visualization tools enable traders to analyze liquidity levels and potential price impacts. Advanced order types support various trading strategies, from basic market orders to more complex conditional executions. The interface provides real-time price updates and trade execution capabilities.
Trading pairs cover major cryptocurrencies and altcoins with multiple base currency options, including BTC, ETH, and stablecoins. The order book displays live market data, helping traders make informed decisions based on current market conditions.
Futures Trading
Where Blofin excels is its futures trading platform.
Futures trading on Blofin offers 329+ contracts with leverage up to 150x. The fee structure favors high-volume traders with 0.02% maker and 0.06% taker fees. Key futures trading features include:
Position management tools allow traders to set stop-loss and take-profit levels. Blofin provides cross and isolated margin modes, giving traders flexibility in risk management. Perpetual contracts form the core of future offerings, with continuous trading without expiration dates.
Risk management features include liquidation price calculators and margin level indicators. Blofin implements mark price and funding rate mechanisms to maintain fair trading conditions.
Copy Trading
In the copy trading dashboard, Blofin allows its users to copy other traders of the platform. Once a crypto trader signs up to become a “Lead Trader,” other users can analyze their performance and activate a copy trade. After the copy trade is activated, you will automatically take the same trades and positions as the lead trader, which makes this a great feature to potentially earn passive income.
We have made a step-by-step YouTube video on how to copy trade on Blofin, which you can watch below.
However, there are some risks and fees to consider. First of all, you give a 0%-20% profit share to the lead trader. Lastly, if the lead trader loses money, you will also lose money. We recommend you conduct a proper analysis of the trader you want to follow. You can also set up specific leverage and stop loss settings to mitigate risks.
Bot Trading
The automated trading system supports custom strategy implementation through trading bots. Users can define trading parameters, set execution conditions, and monitor performance through Blofin’s interface. The system supports both spot and futures market automated trading. Risk management settings allow users to define maximum position sizes and loss limits. The bot trading interface provides performance analytics and strategy adjustment tools.
However, the Blofin trading bot feature is not nearly as advanced as some competitor exchanges. If you are an active bot trader, Blofin may not be the best for you.
Blofin Trading Fees
Spot Trading Fees
The spot trading fee structure maintains consistency across all trading pairs and meets the industry standard of 0.1%, which is a fair rate. These rates apply to all spot trading activities regardless of trading volume or user level. Blofin does not currently offer volume-based discounts or special fee tiers for spot trading.
- Spot Maker fee: 0.10%
- Spot Taker fee: 0.10%
Futures Trading Fees
Blofin futures trading implements a competitive fee structure, ensuring low costs when trading with leverage. What we love about Blofin futures trading is its VIP fee structure. Active traders are rewarded and unlock lower trading fees.
- Futures Maker fee: 0.02%
- Futures Taker fee: 0.06%
Additional costs for futures trading include funding fees, which are applied every eight hours. Funding fees regularly change, based on the difference between spot and futures price of an asset.
Blofin Deposits & Withdrawals
Deposit Methods & Fees
Blofin supports multiple deposit methods. While you can purchase cryptocurrencies using third party payment methods, you unfortunately can not hold fiat directly on Blofin.
- Cryptocurrency deposits
- Direct blockchain transfers
- No deposit fees (network fees apply)
- Crypto purchases through:
- Alchemy Pay
- Simplex
- Credit Card
- Debit Card
- Google Pay
- Apple Pay
- SEPA
Withdrawal Methods & Fees
Cryptocurrency withdrawals incur network fees based on blockchain conditions. Fiat withdrawals are not yet supported. If you want to withdraw funds to your bank account, you might want to check other exchanges, such as Bitget or Coinbase, which offer seamless bank withdrawals.
Blofin Customer Support
Blofin maintains 24/7 customer support through multiple channels:
- Live chat support with quick response times
- Email support for detailed inquiries
- Knowledge base with trading guides and FAQs
Support services cover technical issues, trading inquiries, and account-related matters. Response times vary by inquiry type and current support queue status.
Blofin Security & Regulations
Exchange Security & Regulations
What we love about Blofin is its Proof of Reserves page, which shows the availability of customer funds at all times. Blofin ensures that all customer funds are backed at least 1:1 on the platform, in some cases even up to 160%. This data is publicly available and gets updated on a weekly basis. Users can also view their own funds in the “View my audit” section (refer to the screenshot below).
Blofin operates under Cayman Islands jurisdiction, implementing standard security protocols for cryptocurrency exchange operations. The platform restricts access from multiple jurisdictions including the USA, Canada, China Mainland, and Singapore due to regulatory requirements.
Security measures include:
- Multi-layer security architecture
- Regular security audits
- Cold storage for majority of assets
Account Security
Blofin implements typcial account security features, keeping hackers and third parties out of your account. We highly recommend setting up 2FA, email or phone verification, and an anti-phishing code right after signing up on Blofin. Additionally, Blofin allows users to set up withdrawal whitelists.
Individual account security features include:
- Two-factor authentication (2FA)
- Email confirmations for withdrawals
- Anti-phishing protection
- IP address monitoring
Conclusion
Blofin Exchange presents a solid trading platform with significant daily trading volumes and competitive fee structures. The exchange processes $433.20 million in spot volume and $9.73 billion in futures volume daily, indicating strong market activity and liquidity levels.
Key strengths include the no-KYC trading option with a $20,000 daily withdrawal limit, competitive futures trading fees at 0.02% maker and 0.06% taker, and support for 347+ cryptocurrencies. Blofin offers high leverage of up to 150x on futures contracts, appealing to traders seeking higher exposure positions.
However, users should consider the exchange’s relatively recent establishment in 2019 and significant geographical restrictions, including major markets like the USA, Canada, and China.
FAQ
Q: What are the withdrawal limits on Blofin?
A: Blofin implements tiered withdrawal limits: No KYC accounts can withdraw up to $20,000 daily, Level 1 KYC accounts up to $1,000,000 daily, and Level 2 KYC accounts up to $2,000,000 daily.
Q: What trading fees does Blofin charge?
A: Spot trading fees are set at 0.10% for both makers and takers. Futures trading fees are more competitive at 0.02% for makers and 0.06% for takers.
Q: What is the maximum leverage available on Blofin?
A: Traders can access up to 150x leverage on futures contracts.
Q: Does Blofin require KYC verification?
A: Basic trading is available without KYC verification, with a $20,000 daily withdrawal limit. Higher withdrawal limits require KYC verification.
Q: Which countries are restricted from using Blofin?
A: Major restricted jurisdictions include the USA, Canada, China Mainland, Singapore, and several other countries. Users should check the complete restricted countries list before registration.
