BloFin review
BloFin is a derivatives-focused cryptocurrency exchange incorporated in the Marshall Islands, with its public futures platform launching in January 2023. It raised a $50 million Series B in March 2022 led by KuCoin, alongside SIG Asia Investments, Matrix Partners and Lingfeng Capital, bringing total disclosed funding to roughly $72 million. BloFin offers spot trading, USDT-margined perpetual futures up to 150x leverage, copy trading and bots. It operates as a no-KYC platform by default, letting users trade and withdraw up to $20,000 daily without identity verification, and is unavailable to residents of the US, UK, Canada, Singapore and 40+ other jurisdictions. It holds no traditional financial license, instead citing Fireblocks custody, Proof of Reserves, an ISO/IEC 27001 certification (April 2025) and a Chainalysis partnership as trust signals.
BloFin key facts
- Website: blofin.com
- Category: Centralized derivatives-focused cryptocurrency exchange (CEX)
- Founded: 2021 (company); futures platform launched January 2023
- Headquarters: Marshall Islands (Majuro); no traditional financial license
- Funding: $50M Series B (March 2022) led by KuCoin; ~$72M total raised
- Regulatory status: No-KYC by default; unavailable in the US, UK, Canada, Singapore and 40+ other jurisdictions
- Products: Spot, USDT-M perpetual futures to 150x leverage, copy trading, trading bots, demo trading
- Trading fees: Futures: 0.02% maker / 0.06% taker at base tier, improving to 0% maker / 0.035% taker at top VIP tier
- Supported assets: ~250 spot pairs and ~350 USDT-margined perpetual contracts
- FYI Score: 79/100 (ranked #184 of the crypto exchanges we track)
Trading fees
- Futures/perpetuals: 0.02% maker / 0.06% taker at the base VIP0 tier, improving to 0% maker / 0.035% taker at the top VIP5 tier
- Spot trading: 0.10% at VIP0, improving to roughly 0.01% maker / 0.0325% taker at VIP5
- VIP tiers unlock lower trading and withdrawal fees at higher trading volume
Supported assets
- Roughly 250 spot trading pairs
- Roughly 350 USDT-margined perpetual futures contracts, including crypto majors and some commodity-linked instruments (e.g. gold, silver)
- 24-hour trading volume reported in the roughly $600M-$1B range across trackers (CoinGecko, CoinMarketCap)
Products
- Spot trading and USDT-margined perpetual futures with leverage up to 150x
- Copy trading and automated trading bots
- Demo/paper trading and API access for algorithmic trading
- An in-house academy/research content section
Security & regulation
- No traditional financial license; the exchange instead cites Fireblocks institutional custody, Proof of Reserves and a Chainalysis compliance partnership as security/trust measures
- ISO/IEC 27001 information-security certification obtained in April 2025
- No-KYC by default: full access to spot, futures, copy trading and bots without identity verification, capped at $20,000 in daily withdrawals; optional KYC unlocks higher limits
- Explicitly restricts service in the United States, United Kingdom, Canada, Singapore and more than 40 other jurisdictions
Markets
[object Object], [object Object], [object Object]
Who BloFin is for
BloFin suits active derivatives traders who want fast, no-KYC access to high-leverage perpetual futures and copy trading, and who are comfortable with an unlicensed, Marshall Islands-registered platform blocked in the US, UK, Canada and Singapore. It is not a fit for users who need a regulated venue or want more than $20,000 in daily withdrawals without completing verification.
Pros
- Backed by a notable investor group, led by rival exchange KuCoin alongside SIG Asia Investments and Matrix Partners, with roughly $72M in disclosed funding
- Deep leverage and a derivatives-first product set (up to 150x on perpetual futures) aimed at active traders
- ISO/IEC 27001 certified and uses Fireblocks institutional custody plus published Proof of Reserves
- Fast, low-friction onboarding via no-KYC trading for users under the withdrawal threshold
Cons
- Registered in the Marshall Islands with no traditional financial license disclosed; relies on private-sector trust signals (Fireblocks, ISO 27001, Chainalysis) rather than regulatory oversight
- No-KYC-by-default trading is a meaningful AML/compliance gap by industry standards, even with a $20,000 daily withdrawal cap for unverified accounts
- Not available to residents of the United States, United Kingdom, Canada, Singapore and 40+ other jurisdictions
- Up to 150x leverage on perpetual futures carries substantial liquidation risk for retail users
- Newer entrant than most established exchanges, with a public track record dating only to its January 2023 platform launch, limiting the history available to assess long-term reliability
BloFin FAQ
Is BloFin regulated?
No traditional financial license was found in available sources. BloFin is incorporated in the Marshall Islands and instead points to Fireblocks institutional custody, published Proof of Reserves, an ISO/IEC 27001 information-security certification (obtained April 2025), and a Chainalysis compliance partnership as its trust and security measures.
Does BloFin require KYC?
Not by default. BloFin allows full access to spot trading, futures up to 150x leverage, copy trading and bots without identity verification, capped at $20,000 in daily withdrawals. Completing optional KYC verification raises those limits.
Is BloFin available in the US or UK?
No. BloFin's own terms explicitly exclude the United States, United Kingdom, Canada and Singapore, along with more than 40 other jurisdictions subject to sanctions or heightened regulatory restrictions.
Who backs BloFin?
BloFin raised a $50 million Series B in March 2022 led by rival exchange KuCoin, with participation from SIG Asia Investments, Matrix Partners and Lingfeng Capital, bringing its total disclosed funding to roughly $72 million.
Compare BloFin with other crypto exchanges
See all crypto exchanges ranked by FYI →
Home · CFD Brokers · Brokers · Crypto · Prop firms · Prediction markets · Media · Influencers · Solutions