Our Verdict

Founded in 2019, BloFin is a relatively new cryptocurrency exchange but has quickly gained popularity, especially among derivatives traders. It stands out as one of the few platforms offering third-party insurance coverage on users’ assets, making it a compelling choice for hodlers seeking enhanced security.

Thanks to its integration with third-party payment gateways, BloFin accepts users from over 150 countries, providing access to both spot and derivative markets with competitive trading fees. Its advanced platform supports over 400 cryptocurrencies and 350 derivatives markets, with leverage options up to 150x. Additionally, BloFin offers features like trading bots, copy trading, and demo trading, which are well-suited for beginners looking to gain experience. BloFin’s customer support has earned praise for its responsiveness, surpassing many long-established competitors in quality.

BloFin Pros and Cons

Is BloFin Right for You?

Not all traders are the same. Some seek easy apps for trading on the go, while others look for advanced features like leverage or social trading. When reviewing exchanges, we cater to all types of traders, from occasional to frequent. We divided all traders into seven main target groups.

Our thorough yet straightforward method ensures a clear understanding of trading strategies and their requirements. By assessing, ranking, and recording key factors, we determine how well the exchange meets the needs of each target group. We use three types of rankings: perfect match, good choice, and not recommended. Here’s our verdict:

Casual Traders: Acceptable Choice

BloFin is an acceptable choice for casual traders, offering a user-friendly platform that supports a wide range of trading styles and cryptocurrencies. With strong security measures like 1:1 reserves on customer funds and third-party insurance coverage, casual traders can feel assured their assets are secure. BloFin’s broad selection of supported cryptocurrencies also accommodates both large-cap coins and memecoins, appealing to traders with diverse interests.

I found the mobile app particularly suitable for new or casual users due to its intuitive design. However, the desktop platform may feel complex for beginners as it lacks a dedicated Lite Mode. Additionally, the absence of direct fiat deposits or P2P trading options may limit its appeal for some casual users seeking a more straightforward on-ramping process.

Day Traders: Perfect Match

BloFin is a perfect match for day traders, offering an advanced desktop platform that supports detailed technical analysis and complex trading strategies. With a wide selection of cryptocurrencies and derivatives, BloFin competes well with leading exchanges like Binance. However, the lack of direct fiat deposits means users must either accept higher fees for bank card deposits or use another platform for fiat on-ramping.

My experience day trading on BloFin was highly positive: the platform was intuitive, and trade executions were seamless. Though BloFin has lower liquidity compared to competitors, I had no issues with order fills. However, the absence of certain order types, such as TWAP, limits some strategies.

Hodlers & Position Traders: Acceptable Choice

BloFin is an acceptable choice for hodlers and position traders, providing a secure platform with third-party insurance on customer deposits. The exchange offers a range of fixed or flexible staking options to earn passive income, with the options easy to understand and accessible for beginners. However, its lack of licensing and support for direct fiat deposits may be drawbacks for some users.

BloFin’s full Proof of Reserves provides reassurance, as it’s one of the few exchanges offering third-party insurance on deposits. Additionally, reliable customer support makes BloFin a compelling option, though its smaller token selection and lower liquidity score are limitations. I also found the staking options to be perfect for beginners. However, experienced users may seek more advanced options like Dual Investment or Shark Fin.

Leverage & Derivative Traders: Perfect Match

BloFin is a perfect match for Leverage & Derivative traders. While it doesn’t offer spot margin trading, the platform excels in derivatives trading, providing leverage of up to 150x — among the highest in the industry. This high leverage can amplify profits but should be approached with caution, as over-leveraging increases the risk of significant losses.

BloFin’s competitive fee structure further enhances its appeal for derivative traders. However, some may find that funding fees for altcoins like SOL and XRP are notably higher compared to platforms such as Binance and Bybit, which could impact profitability for frequent traders.

My experience trading derivatives on BloFin was seamless. The desktop platform is well-equipped with advanced tools, indicators, and conditional orders supporting most trading strategies. However, adding other common order types, like TWAP, would enhance support for diverse strategies.

Bot, Social & Copy Traders: Perfect Match

BloFin is a perfect match for bot and copy traders, but it doesn’t offer social trading features.

Copy traders, as well as beginner traders, can analyze detailed statistics for each trader and evaluate metrics like win rate, max drawdown, and ROI before choosing a trader to trust with your money. I found BloFin’s copy trading platform well-designed and equipped with all the essential features. Although the selection of traders is rather small, there is still a solid variety, with top traders managing assets in the tens of thousands.

BloFin’s bot trading feature is relatively new and still in development, with many functionalities yet to be added. Currently, only a signal bot is available, but more options are expected soon. I’d like to see additional bot types, especially popular ones like grid and DCA bots, as well as support for bot trading on spot markets, not just futures.

Algorithmic Traders: Acceptable Choice

BloFin is an acceptable choice for algorithmic traders, offering API access that supports high-frequency trading. However, the platform lacks a backtesting environment and has lower liquidity compared to competitors, which may affect large positions.

BloFin’s API is still in beta, so additional features may be introduced in future releases.

DCA Investors: Not Recommended

BloFin is not recommended for DCA (Dollar Cost Averaging) as it lacks automated tools and direct fiat deposit options. I recommend Kraken for DCA Investors due to its range of automated DCA tools with support for a range of fiat currencies and payment methods.

Supported Countries and Regions

BloFin accepts users from over 150 countries and regions, though this is fewer compared to platforms like Bybit and BingX. While it serves most major regions, including the EU and UK, it notably does not accept users from the U.S., which may be disappointing considering that top exchanges like Coinbase and Kraken do.

For more information on restricted regions, you can refer to BloFin’s Terms of Service.

Since BloFin is a non-KYC platform that collaborates with third-party payment gateways for fiat deposits, users from restricted countries might attempt to trade using a VPN. However, this comes with inherent risks, so proceed with caution.

BloFin Bonuses and Special Offers

Welcome Offers & Sign-Up Bonus: BloFin offers new users up to 5,000 USDT in bonuses for depositing and trading on the platform. However, to unlock the full bonus, you’ll need to deposit at least 100,000 USDT and achieve a futures trading volume of 10,000,000 USDT, all within the first 15 days of registration.

Bonuses: BloFin also runs regular events for existing users that offer vouchers and cash prizes for participating in limited time events. Certain events do not even require trading, such as BloFin’s Champions League event, where you simply have to predict correct scores to win a share of the 60,000 USDT prize pool.

Referral Program: BloFin offers a 30% commission on the trading fees of users you refer. You’ll also earn a 10 USDT bonus for your first referral. If you refer 10 users, you receive an additional 5% commission, which increases to 15% if you refer 100 users within the first 15 days.

Affiliate Program: Join the exchange through our affiliate link to earn a 50% commission on trading fees!

BloFin Background

Establishment: BloFin was founded in 2019 by Tao Hu, known as “Matt” on the platform’s website. Matt has extensive experience in venture capital, having worked with firms in the U.S. and managed investments for companies like Twitch and Unity.

Leadership: While BloFin attempts to be transparent about its leadership, there is limited verifiable information about the founder or current CEO. The platform’s “About Us” page only refers to the founder as “Matt,” but there is no verified LinkedIn profile for either the founder or CEO. According to Crunchbase, Tao Hu and Jack Yang are listed as the platform’s founders, though BloFin does not mention them directly.

This lack of transparency is concerning, as knowing who runs the exchange is essential for building trust, especially when entrusting your funds. It’s even more disappointing when compared to competing platforms like Binance and Bybit, which are fully transparent about their leadership.

Security & Transparency

Proof of Reserves

BloFin conducts bi-monthly Proof of Reserve audits, maintaining a 1:1 reserve for all user funds on the platform. Currently, reserve ratios are displayed only for BTC, ETH, and USDT, whereas industry leader Binance provides reserve information for over 30 tokens. Despite the limited scope, BloFin sustains an impressive 150% reserve ratio on USDT and nearly 170% on BTC, with wallet addresses published online for user verification.

Account Security

BloFin provides anti-phishing codes, two-factor authentication (2FA), and biometric authentication, which help reduce the risk of unauthorized access. However, the platform currently lacks options like fund passwords and withdrawal whitelists, which could offer additional safeguards against unauthorized or accidental withdrawals.

Personally, I secured my account using Google Authenticator for 2FA alongside biometric authentication. Unlike some platforms, BloFin supports biometric authentication on both its mobile and desktop platforms. It was convenient to set up FaceID on my phone and TouchID on my laptop, allowing me to sign in quickly with a fingerprint rather than repeatedly entering my password.

General Reliability

Deposit Insurance: BloFin is one of the only exchanges that offers third-party insurance on user assets. In partnership with Fireblocks, a leading cold storage provider, BloFin ensures that platform assets in cold storage are comprehensively insured against extreme circumstances.

Bug Bounty Program: BloFin runs a bug bounty program offering up to $4,000 for reporting vulnerabilities. However, this is slightly below the industry average reward of $5,000.

Corporate Communication Structure and Transparency: BloFin’s transparency around its founders and leadership structure is somewhat limited. The website lists “Matt H” as the founder and CEO, but it lacks verifiable images or LinkedIn profiles. This contrasts with competitors like Binance, Bybit, and Kraken, which provide more visibility into their leadership teams.

The exchange does maintain an active presence across major social media platforms, including Twitter, Telegram, Discord, and LinkedIn.

Verified Trust Scores

BloFin has received moderate reviews from leading independent ranking websites. As a relatively new exchange, it has yet to be evaluated by many of the trusted sites we typically rely on. These ratings are also subject to change, especially as the platform recently introduced features like third-party insurance, which may not have been considered in earlier evaluations.

Know Your Customer (KYC)

BloFin stands out as one of the few exchanges that has yet to enforce mandatory KYC. Users can open accounts, deposit, trade, and withdraw without submitting personal information or ID documents. This even extends to buying crypto with fiat currency, a rare feature in the industry, making BloFin ideal for users who prioritize privacy over personal data sharing. The automated KYC system verified my account in under 5 minutes, significantly faster than even industry leader Binance, who took 2 hours to verify my account.

However, the absence of mandatory KYC does present risks, particularly around the potential misuse of the platform for illicit activities like money laundering. KYC protocols are a critical part of protecting against illegal activities, and failure to comply with Anti-Money Laundering (AML) regulations could expose the platform to hefty fines from regulatory bodies.

Is BloFin Safe to Trade With?

Based on our findings, BloFin can be regarded as having a moderate to high level of trust and stability due to these factors:

• Asset Security: A 1:1 reserve on all customer assets, with bi-monthly audits and secure cold storage through an industry leading partner.
• Insurance Coverage: One of the few exchanges to offer third-party insurance for user assets.
• Account Security: Strong security measures, including two-factor and biometric authentication.

That said, there are areas where BloFin could improve, such as obtaining licenses from major regulatory authorities and implementing mandatory KYC to enhance compliance. Additionally, limited reviews from established ranking sites position BloFin slightly behind competitors like Binance, Bybit, and Bitget regarding safety and security.

Trading Experience

Trading Test

For our trading test, we thoroughly evaluated the BloFin platform. Our process included signing up, completing the KYC (Know Your Customer) verification, logging in, depositing funds, and making withdrawals. We also tested the trading functionalities by exploring different trading pairs and conversions and assessed the associated fees for transfers and withdrawals. This comprehensive test allows us to provide an informed and reliable review of the exchange’s usability, features, and actual costs. Here’s our detailed analysis:

Step 1: Setting Up and Funding Your Account

The registration process for BloFin is quick and straightforward. You can sign up using an email address or third-party sign-in using a Google or Apple account.

Unlike most exchanges, KYC verification is optional on BloFin. If you decide to verify your account, you can do so using a range of accepted documents, including:

• Passport
• Drivers license
• Government-issued ID
• Residence permit

An automated KYC system verified my account in under 5 minutes.

Depositing crypto on BloFin is simple. During my testing, I transferred LTC from my Binance account to BloFin without any wallet creation fees. However, the minimum deposit of 0.01 LTC is higher compared to exchanges like Binance or Bitget. Deposits via the Litecoin network are credited after 3 confirmations, with withdrawals possible after 6. My LTC deposit was confirmed in 10 minutes, which is on par with confirmation times on competitors like Binance and Bybit.

BloFin does not support direct fiat deposits but allows users to buy crypto with fiat through third-party payment providers. I tested this feature by using 10 EUR via Apple Pay to purchase USDT. The payment was processed through Unlimit. My account was instantly credited with 8.40 USDT, significantly less compared to Bybit, which credited 10.67 USDT for the same 10 EUR purchase using Apple Pay.

Step 2: Trading

My trading experience on BloFin was smooth, with an intuitive interface that made navigation easy. I quickly placed a limit order to sell LTC for USDT, which was executed instantly and filled completely. Despite being on the highest fee tier as a new user, I incurred a fee of just 0.053 USDT.

Opening new positions was just as easy. I placed a market order to buy LTC, setting a tight stop loss and take profit. Even with market volatility, my stop loss wasn’t triggered by abnormal wicks, and when the market trended up, my take profit was executed exactly at the trigger price with no price slippage.

Step 3: Withdrawal and Review

For the final part of the trading test, I withdraw LTC via the Litecoin network to my Binance wallet. BloFin charged a network fee of 0.001 LTC ($0.07), which is significantly higher than Binance’s 0.0001 LTC ($0.007) network fee. However, BloFin processed the withdrawal quickly, with the LTC starting to confirm in my Binance account in just under 10 minutes.

Desktop Version

BloFin’s desktop platform caters to experienced traders, providing advanced trading tools for in-depth technical analysis. It also suggests a wide range of technical indicators, drawing tools, and conditional order options. During testing, the platform provided a seamless experience, performing smoothly on both Safari and Chrome.

Trading Interface

The interface is visually similar to many other exchanges, which eases the transition for users switching from another platform. Although the advanced charting and order book data may initially seem complex for beginners, the clear labeling helps make the learning curve manageable.

The trading interface displays the price chart at the center, with order book data, live trades, and order forms positioned on the side. The layout is highly customizable, as each module can be resized and rearranged based on user preference. The platform integrates TradingView charting, which offers industry-leading technical indicators and drawing tools that support diverse trading strategies.

Desktop Market Search

Switching between markets is straightforward: simply click the trading pair in the top left to access a dropdown menu of all available markets. The menu allows users to filter by category, such as Trending, Memecoins, RWA, DeFi, and AI, making it easy to explore BloFin’s market offerings.

Trade Navigation

Once you select a trading pair, BloFin’s order forms allow for quick placement of market or limit orders. The forms are consistent across desktop and mobile platforms, balancing customization options with ease of use.

Derivatives Trading

BloFin’s derivatives trading has significantly contributed to its rise in popularity within the trading community. The platform offers all the major markets, including the latest trending markets like GRASS and POPCAT. However, the platform currently offers only USDT-M Perpetual futures, unlike exchanges such as Binance and Bitget, which also support USDC-M and COIN-M perpetual and delivery futures. Whilst this may be a non-issue for most derivative traders, those who primarily trade COIN-M or delivery futures might need to consider other options.

Another limitation is that BloFin does not currently support spot margin trading. This makes BloFin less suitable for new traders looking to ease into leverage trading. Without spot margin trading, traders seeking leverage have no option but to enter the derivatives market, which carries considerably higher risk and is generally suited only for more experienced traders.

As a derivatives trader myself, I found the platform a pleasure to use. Its familiar layout made migrating from my usual exchange seamless, and I felt immediately comfortable on the BloFin desktop platform. Although BloFin’s 24-hour trading volume and open interest sit below $1 billion, I had no issues with order execution: positions up to $2,000 were filled instantly and completely. However, I did observe that during periods of high volatility, some candle wicks fluctuated more than on exchanges like Binance, which could potentially trigger stop losses earlier than anticipated.

Conditional Orders

Conditional order options on BloFin are somewhat limited compared to top exchanges. Currently, BloFin supports:

• Market Order
• Limit Order
• Stop Loss
• Take Profit
• Trailing Stop
• Post Only
• GTC (Good-till-Canceled)
• FOK (Fill-or-Kill)
• IOC (Immediate-or-Cancel)

However, BloFin lacks popular order types like TWAP, Iceberg, and Day Orders, which may restrict certain trading strategies. This limitation is noticeable when compared to platforms like Binance, which offer a wider selection of conditional orders.

My Key Takeaways After Testing BloFin Desktop

In my experience, BloFin’s desktop platform delivered a seamless trading experience that is comparable to industry leaders. My positive experience was influenced by the following factors:

• Advanced Charting & Tools: The TradingView integration offers a wide array of technical indicators and drawing tools, perfect for in-depth analysis and advanced traders.
• User-Friendly Platform: Features are clearly labeled, making it easy to navigate and leverage all the platform’s functionality.
• Biometric Authentication Support: Streamlined login with biometric support, so you don’t have to enter your password every time you login.

However, the limited selection of conditional orders may lead some traders to seek alternatives that support a broader range of trading strategies. Additionally, the platform’s advanced trading tools may be overwhelming for beginners. A dedicated Lite version, similar to Kraken’s, would make BloFin’s desktop experience more approachable for new users.

Mobile App

The BloFin mobile app, available on iOS and Android, performed flawlessly during my testing, with no bugs or glitches. It mirrors the desktop platform, offering the same range of trading instruments and features in an intuitive, user-friendly design. New traders may find it easier to navigate while still benefiting from advanced trading tools.

Coin Search: The coin search page lets users quickly search for specific trading pairs across spot or futures markets. However, unlike exchanges like Binance or Bybit, BloFin’s search page doesn’t display extra information, such as trending searches or popular pairs, which could improve the experience.

Trading Features: The mobile app offers the same trading instruments, order forms, and conditional orders as the desktop platform. However, it lacks TradingView charting, so users miss out on TradingView’s comprehensive indicators and drawing tools.

Market Discover: The “Markets” page displays all tradable assets on the exchange across spot and futures. It also provides category filters like trending, memecoins, RWA, DeFi, and AI, making it easy to find or explore tokens by sector of interest.

Watchlist Management: Adding pairs to your watchlist is straightforward – just tap the star in the top right corner. Watchlisted pairs appear in a dedicated section within “Markets,” helping you stay on top of your favorite tokens.

Quick Trade Execution: Trades can be placed with just a few clicks, with a confirmation screen following Buy or Sell actions. This can be disabled to speed up the process, though it may increase the risk of accidental trades.

Price Alerts: Unfortunately, the app lacks the ability to set custom price alerts, a significant drawback as most major exchanges offer this feature. Without alerts, tracking price movements on your favorite tokens become more difficult, which limits trading flexibility while on the move.

Portfolio Clarity: The portfolio page displays your total account value and categorizes your assets by funding, futures, spot, copy trading, and earn accounts. However, it lacks visual features like a line graph showing changes over time or a pie chart showing asset allocation, which are useful tools offered by competitors like Binance and Kraken.

My Key Takeaways After Testing BloFin on Mobile

BloFin’s mobile app is a solid companion to the desktop platform, with access to the same trading instruments and products. Throughout my testing, the app performed reliably, allowing effective position management and new order placements without needing a desktop.

However, the app could benefit from several improvements to bring it up to par with industry leaders:

• Custom Price Alerts: Adding custom price alerts triggered by specific criteria would make the mobile app a better companion to desktop trading, allowing users to track price movements more efficiently.
• Enhanced Portfolio Overview: Visual tools like line graphs and pie charts would improve users’ ability to track account growth and assess asset allocation across different tokens.
• Improved Coin Search: Additional data for “Top Searched” or “Trending” tokens would aid in discovery, showing traders which assets are currently popular.

Fees

• Spot: 0.10% maker & 0.10% taker
• Futures: 0.02% maker & 0.06% taker

BloFin Spot Maker/Taker Fees

In our review of spot fees, we examine spot fees across three distinct tiers. Our focus is on the fees for different trading volumes. We spotlight the basics and the possible savings through native tokens and other discount schemes. We developed this method to ensure a clear look at the fee structures and savings avenues for traders of all experiences. Additionally, we compare these fees to industry standards to show how each exchange ranks in terms of affordability.

BloFin uses a Maker-Taker fee model that rewards users with reduced fees based on account balance or 30-day trading volume. Spot trading fees start at 0.10% for both maker and taker orders, with reductions down to 0.01%/0.0325% for the highest volume traders, putting BloFin’s fees in line with other industry leaders.

Deposit Fees

Currently, BloFin doesn’t allow direct fiat deposits. Instead, users must use the One-Click Buy service to purchase crypto with fiat, which is limiting compared to top exchanges like Binance, Bybit, Kraken, and Bitget, which support various fiat deposit methods. Crypto deposits, however, are completely free, with no transaction or wallet creation fees.

Withdrawal Fees

BloFin also lacks support for selling crypto directly for fiat currency, requiring users to off-ramp their crypto through a different platform. This is frustrating as almost all other top-tier exchanges offer some form of off-ramp to help you sell your crypto for fiat currency. On the other hand, BloFin doesn’t charge withdrawal fees for crypto, only the applicable network fees.

Leverage and Futures Trading Fees

Futures Fees

BloFin’s futures trading fees are highly competitive, especially for users with high trading volumes, as maker fees can be significantly lower than on Binance or Bybit. Taker fees are in line with competitors, with an emphasis on encouraging limit orders.

However, while trading fees are generally comparable, funding fees for altcoins like SOL and XRP can be noticeably higher than on Binance, sometimes double the rate.

BloFin Futures Trading Fee Structure

Fee Discounts

BloFin does not currently offer any discount on trading fees outside of the discounts based on 30-day trading volume. This differs from exchanges like Binance, Bitget, and KuCoin which offer up to 25% discounts on trading fees when using their native tokens to pay trading fees.

Are BloFin Fees Competitive?

Overall, BloFin’s trading fees are among the lowest in the industry for both spot and derivatives trading. It encourages traders to use limit orders by offering very low maker fees, which are among the most competitive across top exchanges. However, funding fees for altcoins can be higher than on platforms like Binance and Bybit.

In my experience, I used limit orders whenever possible to benefit from the lower maker fees. Accumulating substantial trading volume also brings additional fee reductions, making BloFin one of the most cost-effective options for derivatives trading. I also increased my position sizes to help build up my 30-day trading volume and unlock lower fee rates.

Cryptocurrencies Available on BloFin

With its broad selection of tokens and trading pairs, BloFin is on par with major exchanges like Binance (427 tokens), Coinbase (262), and Bybit (676). BloFin also matches Binance for derivatives markets, with 352 available markets compared to Binance’s 388. However, BloFin’s liquidity score of 422 trails behind Binance and Kraken, which may affect execution of large trades.

Another area where BloFin lags is in early investment opportunities. It lacks a launchpad or launchpool feature, which is available on exchanges like Binance, Bybit, and KuCoin.

Deposits & Withdrawals

BloFin Deposit Options

* Payments facilitated by third-party payment providers

Peer-to-Peer Trading: BloFin currently doesn’t provide a P2P trading platform, limiting users to buying crypto only via bank cards or Apple/Google Pay.

Fiat One-Click Buy: BloFin’s “Buy Crypto” service allows users to purchase crypto quickly, facilitated by third-party payment providers Simplex and Alchemy. In my experience, I used Apple Pay to buy USDT with EUR, and the funds were instantly available in my BloFin account, similar to the quick purchase options offered by exchanges like Bitget.

Fees for third party payment providers will vary significantly depending on the provider and transaction amount. For reference, a $100 transaction offered us a rate of 1.02 USD/USDT, which was the same as rates offered by third parties on other exchanges.

Minimum and Maximum Limits: The transaction limits on BloFin’s Buy Crypto service vary depending on the payment provider. Alchemy offers the lowest minimum transaction limit at $15, while Simplex supports a maximum limit of $20,000 per transaction.

BloFin Withdrawal Methods

It’s disappointing that BloFin doesn’t offer any fiat withdrawal options. Unlike most other top-tier exchanges, the lack of a fiat off-ramp may not suit users who frequently need to withdraw fiat or sell crypto for cash. While the platform offers fast and efficient crypto withdrawals using blockchain networks, the lack of fiat withdrawals may be a dealbreaker for some users.

BloFin Daily Withdrawal Limits

BloFin’s daily crypto withdrawal limits are lower than competitors like Binance, which offers an $8,000,000 limit for entry-level VIPs and a $96,000,000 daily limit for top-tier VIPs. However, it still lets you withdraw large amounts of crypto without requiring KYC. While BloFin’s limits should be sufficient for the average user, those needing to withdraw seven-figure sums may need to spread withdrawals over multiple days.

Customer Service

BloFin Customer Service Test

To evaluate the quality of customer services for diverse user needs, we created a unique trading test. We personally contact support using all available methods and present hypothetical problems that users might face. Our evaluation concentrates on how quickly they respond, the quality of the help provided, and whether we can talk to a real person rather than a bot. This method effectively measures the capability of customer support to assist both active traders and casual investors.

During testing, I connected with an agent through live chat in under two minutes. The agent took a few moments to consult and returned with detailed, thorough answers to all my questions. I received one of the most comprehensive support responses I’ve experienced across all exchanges I’ve tested.

Email support was equally efficient, I received a comprehensive reply within 30 minutes of sending my inquiry. However, the lack of phone support and limited language options are notable drawbacks.

Overall, BloFin’s customer support was outstanding. The FAQ section, live chat, and email support addressed all my questions clearly and promptly. BloFin’s support experience ranks it highly among competitors, with only Kraken and Binance providing a comparable level of service.

FAQ

Is BloFin trustworthy?

Based on our research, BloFin exhibits a moderate to high level of trustworthiness and security, with strong safeguards in place, such as full Proof of Reserves, frequent security audits, and third-party insurance coverage for user assets. But it is important to remember that most cryptocurrency exchanges are unregulated, so no exchange is completely risk-free.

Can US Citizens use BloFin?

No, BloFin does not formally accept users from the United States or U.S. Overseas Territories. Although it is possible to get around this restriction using a VPN.

Has BloFin ever been hacked?

No, BloFin has not experienced any security breaches or loss of customer funds since its inception.

Does BloFin require KYC?

KYC is optional on BloFin. Users can register, deposit, and trade without needing KYC verification.

Can I use leverage or margin trading on BloFin?

Yes, BloFin offers derivatives trading with up to 150x leverage but does not support spot margin trading.

Is my money safe on a cryptocurrency exchange?

BloFin provides transparent 1:1 reserves on all customer funds, conducts bi-monthly audits, and offers third-party insurance on assets, enhancing the platform’s trust and security.

Is the exchange regulated?

Currently, BloFin is not licensed or regulated by any financial authorities.

Does BloFin offer any bonuses, welcome offers, or referral rewards to its users?

Yes, BloFin offers new users up to $5,000 in bonuses and welcome rewards. However, to qualify for the full amount, strict criteria and specific timelines must be met. Join the exchange using our affiliate link.