In this post, we will discuss what to do before and when you want to delete your Bitfinex account and the best alternatives to choose from if you decide to continue your crypto journey.
What to do Before You Delete Bitfinex Account
You must take several precautionary steps to prepare your Bitfinex account for permanent and irreversible deletion. After hitting the delete button, these pre-deletion tips will ensure you don’t lose vital assets, funds, or data. Such precautions include:
- Close all open Trades: If you have any ongoing trade at the time of deletion, it may incur unnecessary losses. So, ensure you cancel and close all open or pending trades on your Bitfinex account before deleting it.
- Withdraw funds: Before deleting your account on the Bitfinex exchange, ensure all fiat and crypto balances are transferred to your bank account or external wallets. Navigate to the Asset section, select the crypto, and click Withdraw to empty your Bitfinex wallet.
- Backup/Export data: You can also back up your trading data on Bitfinex for tax purposes or future reference.
Step-by-step Guide to Delete Bitfinex Account
Once your account is fully prepared by performing the pre-deletion tips above, it’s time to part ways with Bitfinex. Simply follow the steps below to delete your Bitfinex account within minutes:
- Log in to your Bitfinex account via the app or official website.
- Navigate to the Account Settings from the menu in the upper right corner of the Bitfinex platform.
- Locate the Deactivate Account button and click it.
- A confirmation pop-up will be displayed to confirm your decision. If you opt to proceed with the account deletion, you must pass some security verifications, and then a confirmation mail will be sent to your email once you’re done.
- Finally, confirm the deactivation email by clicking the Permanently Deactivate Account button to log out from your Bitfinex account.
Once these steps are completed, your account with Bitfinex is long gone. Remember that account deletion is permanent, and Bitfinex Support won’t be able to reactivate your account once you complete the steps above.
Why Delete Bitfinex Account?
Although Bitfinex is among the world’s fastest-growing crypto exchange platforms, users may decide to delete their accounts for several reasons. Some of these instances include:
- Concerns about security and data privacy.
- Switching exchanges to one with better features or incentives.
- High trading or withdrawal fees.
- Regulatory restrictions and other legal issues.
- Moving away from cryptocurrency trading entirely.
Best Alternatives After You Delete Bitfinex Account
Bitunix
Bitunix is an emerging cryptocurrency exchange that prioritizes user convenience and offers robust trading features, including spot and derivatives trading. The user-friendly interface, advanced security protocols, and competitive fees make Bitunix a great platform for both novice and professional traders. Thanks to frequent feature improvements and generous user incentives, Bitunix already boasts over a million members and is still growing.
BTCC
Founded in 2011, BTCC is a trustworthy trading option with advanced features and bonuses, and it has over 3 million active users. The platform specializes in futures trading, providing high liquidity for every user. It has an established reputation and a long history of reliability in providing top-class trading services to crypto enthusiasts. BTCC also offers fixed trading fees for a hassle-free experience, and its beginner tutorials are an attractive feature for newer members.
Conclusion
Whether you’re dissatisfied with Bitfinex or just want to switch exchanges, you must know what to do whenever you want to delete your Bitfinex account. Prepare your account by canceling positions and withdrawing funds, then follow the steps above to bid Bitfinex a permanent goodbye. Also, exchanges like BTCC and Bitunix are excellent alternatives to choose from if you want to continue trading crypto after deleting your Bitfinex account.
