BloFin

BloFin Review – Introduction

BloFin is a crypto exchange focused on Futures trading and launched in 2023. This newcomer CEX is rapidly growing, as evident by its high derivatives trading volume. BloFin has 600 altcoins listed, but most are only available on Futures trading.

BloFin a platform that isn’t aimed at beginners due to lower number of altcoins on Spot market, few fiat deposit options, and overall lack of features. However, for experienced traders this platform offers reliable trading with sufficient volume, acceptable fees, and optional identity verification.

In our review, we’ll tackle BloFin features, fees, deposit and withdrawal options, and safety. Stick with us, because in a few minutes you will know whether this exchange is the right fit for your needs.

BloFin Highlights – Why Use It?

Is BloFin Good For Beginners?

BloFin is suitable but not the best exchange for beginners. The platform initially launched with derivatives market, and only later added Spot trading. To attract inexperienced investors, the exchange has implemented some features such as Demo Trading, Copytrading and Convert.

The exchange greatly improved in the few years since launch, but at its core it still remains a platform catering to experienced day traders. However, the platform itself is fairly intuitive and easy to use, especially if it’s not your first crypto exchange.

Is BloFin Good For First Crypto Buy?

When it comes to fiat deposits, you can transfer via SEPA (Euros and EU customers only), or other currencies via SWIFT bank transfers (international transfers available in most banks worldwide). SEPA offers very cheap deposits, but SWIFT deposits on BloFin have a significantly higher fee. SWIFT is typically more expensive, but there are cheaper alternatives.

Moreover, credit or debit card fees and Google and Apple Pay payments are also fairly expensive. On the other hand, lots of platforms charge card/mobile fees that are just as high or even higher.

The only other way to deposit local currency is to use 3rd party payment providers implemented into the exchange. These so-called fiat gateways have high fees, but do offer dozens or even hundreds of payment options. Nevertheless, some users are perfectly fine with any fees under 5%, so using BloFin for fiat deposit services can be a viable option.

Last important detail is lack of fiat withdrawals. When it’s time to cash out, you will only be able to withdraw fiat to cards, or withdraw cryptocurrency. For all these reasons, BloFin is not always the right fit for most new investors. But for users able to use its limited deposit options or those who simply don’t care about fiat transfers, the exchange can be a solid option.

Is BloFin Good For Day Trading?

Crypto trading is where BloFin shines! A pleasant user interface, high volume, and a solid selection of top altcoins are just some of the reasons why this exchange is highly regarded as a trading platform. Despite relatively few altcoin pairs, Spot trading on BloFin is very cheap. There is no Margin trading or Options trading, but traders can access a few traditional assets (stocks, metals) on Spot and Futures.

Most traders will use USDT Futures, but Coin-Margined Futures are also available (profits returned in crypto, not stablecoins). Biggest downside to trading Futures on BloFin are fees, which are slightly higher compared to some other exchanges. On Futures market, Maker fees are 0.02% per transaction, with Taker fees set to 0.06%. You can scroll to “Fees” section above in this review for a more comprehensive overview, plus an easy way to reduce them.

You can apply up to 150X leverage on Tier 1 assets such as Bitcoin and Ethereum. Lower-cap altcoins often have lower maximum leverage, even down to 50X. Nevertheless, for most traders this leverage is more than sufficient, as trading with high leverage has greater risks.

Deposits – How to Deposit Money to BloFin

Of course, you can deposit any supported and spot-listed cryptocurrency asset to the exchange. Like most crypto exchanges, BloFin will not charge you any crypto deposit fees. Minimum deposit amounts are around $10, depending on asset. You can get started and try the exchange with very little investment.

Fiat Deposits & Payment Methods

For direct payment methods, BloFin supports SEPASingle Euro Payments Area; used for EUR transfers in entire European Union & EEA region transfers in Euros, and card payments (Visa and Mastercard). SEPA bank transfer has a fixed €1 fee, making it a cheap and convenient deposit method. On the other hand, card payments have a 4% fee per transaction. Card fees are in line with or slightly more expensive than card payments on competitor services.

Alternatively, international users can deposit via SWIFT bank transfers, but the 4% fee can be a deal-breaker to some. Similarly, payments through Apple Pay and Google Pay are also available, but at similarly high costs.

In some Latin American countries users can also use local payment methods. In Brazil, supported payment include PIX, PIX Biometria, and Boleto. In Mexico, users can use SPEI bank transfers or OXXO Pay. In South Africa, you can use local EFT bank transfers.

Fiat deposits to BloFin are also available through 3rd party payment providers Alchemy Pay and Simplex. Both of these are reputable providers used by many crypto exchanges.

Supported 3rd party gateway payment methods include VISA, Mastercard, Skrill, Google Pay, Apple Pay, Neteller. and SEPA Instant bank transfers. Additional payment methods may be available depending on your location and fiat currency. For example, you can use PIX in Brazil, Mobile Money in Uganda and Tanzania, etc.

Some payment methods or gateways may be unavailable depending in your chosen fiat currency. Avoiding additional currency transaction fees is the main benefit to depositing local currencies.

Fiat Deposit Fees

Fiat deposit fees will vary depending on chosen payment provider, local currency, and payment method. While convenient and safe to use, both Alchemy and Simplex have high fees. When using these 3rd party payment providers, you can expect to pay up to 5% or more. Direct deposits via SEPA bank transfers in Euros are quite cheap, but the convenience of using credit/debit cards will have a hefty premium.

Exchanges such as Binance or OKX which charge zero or close to zero fees for bank transfer deposits, while providing additional payment methods. Users able to transact in Euros can still consider BloFin as their fiat gateway, because their €1 flat fee is quite cheap. Card payment fees are in line with other exchanges and services.

Again, BloFin charges no crypto deposit fees. For regular investors, it can be best to pick a cheaper fiat gateway exchange, and then transfer crypto assets over to BloFin for trading. Keep in mind, you should only consider depositing fiat to BloFin if you are in one of its available countries. Despite BloFin’s no-KYC policy, fiat deposits will always require identity verification.

Withdrawals – How To Withdraw From BloFin

The only fiat withdrawals currently available on BloFin are directly to Visa bank cards. To access it, you will need to make at least one deposit with the same card first. Card withdrawal fees are set to 2%, among the cheapest in the industry. Unlike deposits, withdrawals only support USD, GBP, AUD, CAD, CHF and EUR.

The only other way to withdraw money from BloFin is to withdraw crypto assets. Each crypto asset has different withdrawal minimums and fees associated. For USDT on TRC-20, the minimum withdrawal amount is $10, and fee set to flat 1 USDT – pretty much the industry standard.

Crypto withdrawal fees are inevitable, because processing blockchain transactions is not free. However, BloFin has cheap withdrawal fees and will not charge you any premiums for taking your money out of the exchange. Withdrawing Bitcoin and Ethereum through their respective mainnets is always going to be more pricey. However, there are many altcoins including USDT and other stablecoins which have fees around or under $1 per transaction. More than reasonable!

Keep in mind that non-KYC’d accounts can only withdraw 20,000 USDT per 24 hours. Verified accounts have a cap of $1M per day.

User Interface – Is BloFin Easy to Use?

BloFin happens to be one of the more pleasant exchanges for trading. Its user interface is sleek, and will require practically no learning if you ever traded crypto before. BloFin’s popularity amongst experienced traders is not a surprise, because the user interface feels great to use.

Futures trading interface will let you trade in either isolated or cross margin mode. You can place limit, trigger, TP/SL, or trailing stop orders. Buy or sell orders can also quickly be placed on the chart, and open positions window will let you reverse positions, close all positions or cancel all orders. You can turn off confirmations if you choose to, and enable sounds to get notified about filled orders.

One of the best parts about the Futures trading interface is the ability to hide the order book. This is a small and often insignificant feature to most traders, but very few exchanges actually have it. For additional customization, windows such as the TradingView chart and open positions can be resized and moved to your liking.

BloFin’s trading interface fully supports dark mode, making trading at late hours more pleasant. Biggest downside to user interface is lack of dark color scheme for wallet and other account pages. Speaking of account backend, it’s clean, easy to navigate, and provides a full history or trades, orders, and PnL analysis. BloFin also partnered with TradeStream, allowing users easy trade journaling and analytics.

Because this trading platform doesn’t have a million features, its menus are clean and easy to navigate. Many larger exchanges do not provide the same level of customization and usability. Overall, the user interface and trading experience on this exchange is top notch.

Other BloFin Features

Aside from the basics – deposit, withdraw and trading services – BloFin has a number of other features you may or may not care about. Let’s take a brief look!

Staking

BloFin has a decent staking program, with nearly 50 assets listed. You can stake USDT, BTC, ETH, and several dozen other mainstream tokens. Staking is available in both flexible and fixed duration. You can get basic yields around 4% APY for staking your idle BTC, ETH or stablecoins on the exchange. Most other altcoins have less than 1% returns, so finding a platform with higher yields can be wise for large holders. You can look at our Best Staking Exchanges to find better places to park your unused coins to get passive income.

Demo Trading

You can try crypto trading on BloFin completely risk-free with their demo trading feature, implemented back in October 2024. To try demo trading, all you need to do is create an account. No deposits are necessary. You get to practice Futures trading with no actual risk involved. This gives you an opportunity to try the platform and see if you like it.

Copy Trading

BloFin also has copy trading, a feature that lets you mirror trades by other traders and profit from their positions. You can easily find, compare and choose from dozens of traders with profitable trading history, and let them do the hard work for you.

While copytrading is often advertised to beginner traders, you must always beware of letting others manage your portfolio. Use the feature at your own risk and with proper risk management. You should make sure to thoroughly research each copy trader’s historical performance. Fortunately, BloFin’s interface lets you do this easily.

Trading Bots

Currently, BloFin has several different Futures trading bots to choose from:

1. First is Signal Bot, which lets you trade futures automatically through signals provided directly from TradingView.
2. Second bot available is TWAP, which lets experienced traders more easily place large orders without affecting the slippage.
3. Third bot is Futures Grid, ideal for automated buying or selling in volatile or ranging markets.

Related: Crypto exchanges with TradingView integration

There are no other futures trading bots on BloFin, however the exchange is supposedly working on Futures DCA (Martingale), Scaled Order, Futures CTA, and Futures VP bots. On Spot, only grid bot is available.

Experienced users who require more trading bots can look at Bitget, Gate, Pionex, or Bybit for more comprehensive selection.

Virtual Mastercard

Another notable feature is BloFin Card, a virtual Mastercard allowing you to spend crypto easily. Since BloFin doesn’t have varied fiat withdrawals, the card can provide a convenient cash-out option for some users.

At the moment, the card is only available to VIP users. A breakdown of volume requirements for VIP levels can be found in our BloFin fees section above, under crypto trading fees.

Safety & Security – Is BloFin a Safe Exchange?

In this section we’ll explain BloFin’s regulatory licensing status, funds security, and account security.

Regulatory Compliance and Transparency

BloFin does not hold any regulatory licenses from major countries. Compared to industry-leading giants such as Binance, the amount of regulatory compliance on BloFin is disappointing. However, the lack of licenses can be attributed to BloFin’s NO-KYC policies. Every exchange with optional KYC has very few approvals by governments or institutions.

Unlike most exchanges, BloFin doesn’t provide a great deal of transparency into its operations either. Their website has only basic information about the founder, with little additional data about their company, employees, or other relevant info.

BloFin is compliant with basic law enforcement requests, anti-money laundering laws and terrorist financing laws. Furthermore, the exchange restricts access to customers from countries such as United States, where crypto laws are more stringent.

Are Funds Safe on BloFin?

On the upside, BloFin has been operating since 2023 without issues. Crypto exchanges are always targets for hacks, but so far BloFin did not suffer from any major breaches of security or lost funds. In June 2024, BloFin partnered with Chainalysis for live monitoring of transactions in an effort to improve its legal compliance and security.

In April 2025, BloFin obtained ISO/IEC 27001 certification. This certificate is the leading international standard for information security management. In essence, it means the platform protects user data with highest levels of security and compliance.

In addition, the exchange publishes regular Proof of Reserves reports. Customers can verify their assets are held by the exchange with Merkle Tree. Proof of Reserves (PoR) is an essential transparency tool to ensure exchanges do not misuse any customer funds. So far, all funds have been accounted for in previous PoRs, with exchange wallets holding far more assets than customer deposits.

Lastly, BloFin also partnered with Fireblocks, an industry-leading custodial solution for added security through safe cold-wallet asset storage. Also, Fireblocks provides the platform with additional liability insurance coverage.

Account Security

BloFin enforces 2-factor authentication (2FA) for logging into an exchange. This is a basic but important security measure to prevent unauthorized access to customer accounts. Aside from Google Authenticator 2FA, users can also secure their accounts with Passkey verification for logins and withdrawals, adding another layer of security.

In addition, the platform will protect accounts and withdrawals with additional email confirmation. Official communication can also be verified by setting up an anti-phishing code.

There are no additional or advanced security methods in place such as withdrawal PIN codes, trading passwords, subaccounts, or account freezes. Overall, the user account security options are adequate to prevent most types of unauthorized logins or withdrawals.

Customer Support

BloFin’s support center has dozens of articles that explain how to use the exchange. For most common questions, you will easily find an answer or a full guide on how to use the feature.

For other questions, you can always contact their customer support through a “Chat” button visible on the bottom of every page. This lets you live chat with customer support representatives at any time and resolve any issues you are having.

Support is not provided through any other means or channels such as Telegram or Discord. It’s always safest to contact support directly through their website, and watch out for anyone claiming to provide support through other means.

Is BloFin Safe?

There is no evidence that BloFin is a scam or fraudulent crypto exchange. It doesn’t have too many years of reliable history, but during its few short years we haven’t seen any red flags or issues. As always, users are advised to only deposit crypto necessary for trading to exchange wallets, and keep most funds in safe storage.

You can trade Futures with up to 150X leverage on this CEX. This makes it easy to deposit small amounts of your portfolio yet trade with larger position sizes.

FAQs

• Is BloFin available in United States?

  BloFin is curently not available in the US nor any of its territories. Due to regulatory restrictions, very few exchanges are available in USA. Because of BloFin's no-KYC policy, it is highly unlikely it will become available in US any time soon.

  Customers from restricted countries will be blocked from accessing the exchange through IP address checks. The platform's optional identity verification makes it possible to trade crypto on BloFin from United States or other restricted countries through VPN services. However, it's always advised to use exchanges which are fully available in your country.

  Other major countries restricted on BloFin include China, India, Russia, Singapore. In total, customers from over 40 countries are unable to officially use BloFin for trading.

• Does BloFin have optional KYC?

  BloFin has optional KYC. This means identity verification on this exchange is optional, and customers are not forced to provide their identity documents. There are no trading restrictions for non-verified customers.

  Non-KYC users are able to withdraw up to 20,000 USDT worth of assets per 24 hours. This restriction is in place to prevent large-scale money laundering or fraud. By verifying their identity, customers can increase the withdrawal limits to $1 million per day.

• What does BloFin referral code do?

  By using referral code "ZC5dlF" during signup, you can receive a permanent 5% trading fee discount applied to your account. This code will reduce any Spot and Futures trading fees on the exchange, and can lead to large savings over time.

  There is no downside, cost or drawback to using this code. In order to apply the fee rebate, the code must be entered in the "Referral code" field during account registration.

• Is BloFin cheap for trading?

  Compared to other crypto exchanges, BloFin is somewhere in the middle of the pack. Its Spot market fees are among the cheapest. For Futures market traders, fees are industry average or slightly higher in comparison.

  Users can reduce fees further with one or both of these methods:

  1. VIP levels: By trading at least 10M on Futures, or 1M on Spot, or by holding 50,000 USDT worth of assets, users can reduce fees by 10-20%.
  2. Referral code: By using referral code "ZC5dlF" during signup users can receive a permanent 5% trading fee discount at no cost.

  BloFin does not have a native token, or any other method to reduce trading fees.

• Who owns BloFin?

  BloFin doesn't have a great deal of transparency into company ownership or stakes. Their website's "About" page states that they are partnered with several notable crypto and investment companies, some of which also previously provided funding.

  Matt Hu, the founder of Blofin, earned recognition as one of the “Top 100 Influencers in Blockchain” by Cointelegraph in 2020. Having founded BloFin in September 2019 and TokenInsight in March 2018, Matt brings a wealth of experience to the table. His background includes contributions to a renowned US VC firm on Sandhill Road, where he played a key role in investments and portfolio management for top-tier companies like Twitch and Unity.

  Exchange is headquartered in Marshall Islands, with no notable or known presence in other countries.

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Final Verdict: Is BloFin a Good Crypto Exchange?

BloFin is a smaller but fast growing exchange with excellent volume and solid selection of altcoins to trade. This is not always a good exchange for beginners, but experienced traders should definitely consider it. The platform prioritizes Futures trading, and does this remarkably well through its excellent user interface and useful tools.

One of BloFin’s biggest upsides is its privacy-focused approach, and the exchange does not enforce identity verification on customer accounts. Despite optional KYC, it does restrict traders from many countries from accessing the platform. Additional technical means are required to trade from restricted regions, but this is never recommended.

We would like to see more transparency into exchange’s operations, and more details on how it secures user funds. Because of this and considering the exchange has only been operating for a couple of years, BloFin is far from being the safest exchange. The CEX has a good reputation and did nothing to make it appear suspicious, but caution is always advised with newer and unproven platforms.

In conclusion, BloFin is an excellent exchange for privacy-focused traders who need Futures trading without KYC requirements. For users who want a smooth trading experience, this crypto exchange is worth a try.