Bitfinex removes minimum deposit limits allowing trading from just $0

Bitfinex exchange
Bitfinex removes minimum deposit limits allowing trading from just $0
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Bitfinex, one of the most successful crypto exchanges in existence, removed its minimum deposit limits from $10,000 down to $0, reports Finder.com.

Changing It Up

In a company announcement, “the worlds most advanced trading platform” detailed the reasons for this update:

“The update comes in response to overwhelming demand over the past six months from a wide variety of traders seeking to access the unique professional experience available at Bitfinex, but without requiring the upfront equity. Realising (sic) the appetite for access from a broader range of traders, Bitfinex has been working to tailor its offering to better suit the needs of all types of accounts.”

These changes include the following:

  • Upgraded Support Center – the space has a new design to improve on the user experience. Changes include “automated responses to common queries” alongside faster “issue resolution.”
  • New KYC Portal – the know-your-customer backend saw an update that makes it easier to implement third-party tools.
  • Santiment Token Information – educational information on tokens will now be available to customers.

Acknowledging The User Base

“We simply could not ignore the increasing level of requests for access to trade on Bitfinex from a wider cohort than our traditional customer base,” says Jean-Louis van der Velde, CEO of the exchange. He continues, “for the last six months we have been working hard to ready our platform” for new customers. They “are now in a position to open Bitfinex to a wider audience. By dropping our minimum equity requirement, the only limits are now set by the traders themselves,” der Velde finishes.

Interestingly, this news comes to us after Tether (USDT), a Bitfinex-related stablecoin, said that it is not entirely cash-based like it once said, reports Finder. This change could be due to Tether, but it’s also possible the exchange had this idea already. Regardless, both users and Bitfinex alike will enjoy the move.

About Max Moeller

Cryptocurrency and games writer. Looking to the future by studying how these two industries can blend. LinkedIn: https://www.linkedin.com/in/maxwell-moeller-912044b4/