Bitfinex crypto trading got easier: No more $10000 equity limit

April 10, 2019, | AtoZ MarketsBitfinex crypto trading platform has recently announced the reopening of its new user accounts registration feature. The crypto exchange has removed the minimum equity of $10,000 that was required to start trading on a new account.

Bitfinex in a brief

The Bitfinex crypto trading platform offers state-of-the-art services for crypto traders and global liquidity providers. The company was founded in 2012, Bitfinex crypto trading platform was one of the first professional platforms set up to accommodate for the booming interest in cryptocurrency trading. In addition to advanced trading features and charting tools, the Bitfinex crypto trading platform provides access to peer-to-peer financing, an OTC market and margin trading for different digital assets.

The company claims to focus on providing unparalleled support, tools, and innovation for professional traders and liquidity providers around the world. Bitfinex is considered as one of the world’s largest cryptocurrency exchanges. Bitfinex closed the new registrations in December last year, posting an explanatory message on the signup page. The message stated that new account registrations had to be halted temporarily due to extraordinary demand

Bitfinex removes minimum equity to attract more users

The company, headquartered in Hong Kong, has removed the minimum capital for opening an account after demands from traders who have tried to gain access to the platform has increased in the past few months. While commenting on the Bitfinex crypto trading platform’s update the company CEO Jean-Louis van der Velde stated:

“We simply could not ignore the growing level of requests for access to Bitfinex trading from a wider cohort than our traditional client base. Over the past six months, we have been working hard to prepare our platform for a new wave of client accounts, and now we can open Bitfinex to a wider audience, ”he added. “Having abandoned our minimum equity requirement, the only restrictions are now set by the traders themselves.”

With this update, Bitfinex has opened its doors to anyone who wants to trade in cryptocurrencies, as of April 9, 2019. Paolo Ardoino, CTO of the cryptocurrency exchange, added that the main reason for this update was the desire for more active participation of the developer community.

More updates are expected on the Bitfinex crypto trading platform

Bitfinex also announced that the company will update “automated responses to common requests and solve problems faster” from the support service. In addition, users will find the new portal Know Your Customer (KYC). Additional information about tokens listed on the exchange will also be provided for greater convenience. In addition, the exchange operations will be transferred to “home-made dedicated servers with high-class equipment to ensure enhanced security and minimal delays”.

At the moment Bitfinex crypto trading platform reduced the trading volume and moved from position in the top-5 rating to the 34th place. The crypto experts explain that it happened due to the fact that the Bitfinex crypto trading platform has failed to properly audit Tether — the company that oversees USDT development. As a result, Teter Heh said that tokens cannot be compared only with paper money, and this caused panic among investors who chose this platform as their stock exchange.

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