Bitfinex Exchange Setup

Connect your Bitfinex account to SignalBee in minutes. This guide walks you through creating and configuring API keys with the exact permissions needed for automated trading.

Good News: Bitfinex uses a simple two-value authentication system - just API Key and API Secret. No passphrase required.

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Prerequisites

Before you begin, make sure you have:

• Verified Bitfinex account - Identity verification (KYC) completed
• 2FA enabled on Bitfinex - Required for API key creation
• SignalBee account - Ready to connect an exchange
• Password manager - For storing your API credentials securely

Security Note: Bitfinex requires 2FA (two-factor authentication) to create API keys. If you haven't enabled 2FA yet, go to Account → Security → Two-Factor Authentication in your Bitfinex account.

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Understanding Bitfinex Wallet Structure

Bitfinex uses three separate wallets for different purposes. Funds must be in the Exchange wallet for spot trading with SignalBee:

How to Transfer Funds to Exchange Wallet

If your funds are in the Margin or Funding wallet:

1. Log in to Bitfinex
2. Go to Wallets in the main navigation
3. Find the asset you want to move
4. Click the Transfer icon next to the asset
5. Select source wallet → Exchange wallet
6. Enter the amount and confirm

Tip: Internal wallet transfers on Bitfinex are free and instant.

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Creating Your API Key

Follow these steps to create an API key on Bitfinex.

Step 1: Log In to Bitfinex

1. Go to www.bitfinex.com
2. Log in with your email and password
3. Complete 2FA verification

Step 2: Navigate to API Key Management

1. Click your profile icon in the top-right corner
2. Select Account from the dropdown menu
3. Click API in the left sidebar
4. You'll see a list of your existing API keys (if any)

Step 3: Create a New API Key

1. Click the Create New Key button
2. You'll see a permissions configuration screen

Step 4: Configure Permissions

Configure the permissions for your API key (see Configuring Permissions for details):

1. ✅ Enable Account History (Read) - View trade history
2. ✅ Enable Orders (Read/Write) - Place and manage orders
3. ✅ Enable Wallets (Read) - View balances
4. ❌ Do NOT enable Withdraw - Never needed

Step 5: Label Your API Key

1. Enter a descriptive label: SignalBee Trading
2. This helps you identify this key's purpose later

Tip: Use a clear label like "SignalBee-Spot" so you can easily distinguish it from other API keys.

Step 6: Complete Security Verification

1. Complete 2FA verification (authenticator app code)
2. Confirm via email if required
3. Wait for verification to complete

Step 7: Copy BOTH Values IMMEDIATELY

After verification, Bitfinex displays your API credentials:

Warning: If you close this page without copying your API Secret, you'll need to delete this API key and create a new one. There is no way to recover an API Secret.

Save both values in your password manager now before proceeding.

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Configuring Permissions

Configure the correct permissions to balance functionality and security.

Required Permissions

Never Enable These Permissions

Security Note: Even if your API key is somehow compromised, funds cannot be withdrawn without withdrawal permissions enabled. This is your most important security protection.

How to Edit Permissions

If you need to modify permissions after creating your key:

1. In API Management, find your SignalBee API key
2. Click on the key to expand its settings
3. Modify the permission checkboxes as needed
4. Click Save
5. Complete 2FA verification

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IP Whitelist Configuration

IP whitelisting restricts your API key to only work from specific IP addresses. This is optional but adds a strong security layer.

Why Use IP Whitelisting?

Even if your API key is somehow exposed, it won't work from unauthorized IP addresses.

SignalBee Server IP Addresses

Note: Contact support@signalbee.trade to request SignalBee's current production IP addresses for whitelisting. We maintain static IPs specifically for exchange API calls and will notify you before any infrastructure changes.

How to Configure IP Whitelisting

1. In your API key settings, find the IP address section
2. Enter each SignalBee IP address (one per line or comma-separated)
3. Click Save
4. Complete verification

If You Skip IP Whitelisting

If you choose not to use IP whitelisting:

1. Leave the IP whitelist empty
2. Understand this is less secure but still safe if withdrawals are disabled
3. Your other security measures (no withdrawal permission) still protect your funds

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Adding to SignalBee

Now connect your Bitfinex API key to SignalBee.

Step 1: Go to Exchanges Page

1. Log in to your SignalBee account
2. Navigate to Exchanges in the main menu

Step 2: Add New Exchange

1. Click the Add Exchange button
2. Select Bitfinex from the exchange list

Step 3: Enter Your Credentials

Bitfinex requires only two fields - simpler than some other exchanges:

1. API Key - Paste your Bitfinex API key
2. API Secret - Paste your Bitfinex API Secret

Note: No passphrase is required. Bitfinex uses a straightforward two-value authentication system (similar to Binance).

Step 4: Test the Connection

1. Click Save and Test Connection
2. Wait for SignalBee to verify your credentials
3. Look for the ✅ success message

Step 5: Verify Your Setup

After successful connection:

1. Your Bitfinex balances should appear in SignalBee
2. Check that your expected assets are listed
3. Balances confirm the Wallets permission is working

Tip: If balances don't appear, verify that funds are in your Exchange wallet (not Margin or Funding). See Understanding Bitfinex Wallet Structure above.

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Bitfinex-Specific Considerations

Ticker Format

Bitfinex uses a unique 't' prefix in trading pair symbols:

Note: SignalBee automatically handles ticker format conversion. You can use standard formats, and SignalBee will normalize them to Bitfinex's 't' prefix format.

Authentication Method

Bitfinex uses HMAC-SHA384 for API authentication - different from most exchanges that use HMAC-SHA256. SignalBee handles this automatically - no configuration needed on your part.

Minimum Order Sizes

Bitfinex enforces higher minimum order values than many other exchanges:

Warning: Orders below the minimum will be rejected. Ensure your order size meets Bitfinex's minimums to avoid errors.

Trading Fees

Bitfinex has slightly higher taker fees than some competitors:

Tip: Volume discounts and LEO token holdings can reduce your fees. Check Bitfinex's fee schedule for details.

API Rate Limits

• Bitfinex imposes per-endpoint rate limits on API requests
• SignalBee handles rate limiting automatically
• If you see rate limit errors, reduce your signal frequency or check for duplicate webhooks

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Troubleshooting

Common Bitfinex-specific errors and solutions:

Connection Test Fails?

If your connection test fails in SignalBee:

1. Double-check both keys - Copy-paste errors are the most common issue
2. Wait a few minutes - New API keys may take 1-2 minutes to activate
3. Verify permissions - Ensure Wallets (Read) permission is enabled
4. Check IP whitelist - Remove IP restrictions temporarily to test
5. Verify API Secret - Remember, it's only shown once during creation

For persistent issues, see our Error Codes Reference or contact support@signalbee.trade.

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Security Best Practices

Follow this checklist to keep your Bitfinex account secure:

Bitfinex Account Security

• Enable 2FA with an authenticator app (Google Authenticator, Authy) - more secure than SMS
• Use a unique, strong password for Bitfinex (not reused from other sites)
• Enable withdrawal whitelist on Bitfinex - restricts withdrawals to pre-approved addresses only
• Verify you're on the real Bitfinex site (check the URL carefully)

API Key Security

• Create a dedicated API key just for SignalBee - don't reuse keys across services
• Never enable withdrawal permission - SignalBee never needs it
• Consider IP whitelisting for maximum security
• Never share your API Secret via email, chat, or screenshots
• Store both credentials in a password manager (1Password, Bitwarden, etc.)

Ongoing Security

• Review your API keys periodically in Bitfinex - delete any you don't recognize
• Rotate API keys every 90 days as a security habit
• Monitor trade history on Bitfinex for any unauthorized activity
• Keep your email secure - it's used for Bitfinex account recovery

Security Note: Even with all these precautions, the most important protection is never enabling withdrawal permissions. Without this permission, your funds cannot be moved off the exchange even if everything else is compromised.

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Related Resources

• API Key Best Practices - General API key security guidance
• Security Overview - How SignalBee protects your data
• Error Codes Reference - Common error messages explained
• Binance Setup - Similar two-value authentication system