Coingape - 4/9/2019 11:58:10 AM - GMT (+0 )
One of the largest bitcoin exchange, Bitfinex announced that new users are no longer abide by the minimum equity limit to open accounts as the platform said that it has removed its $10,000 minimum equity threshold.
Bitfinex exchange said that the announcement is a result of huge demand from the traders who were keen to enjoy its trading services but ‘without requiring the upfront equity’. Nevertheless, it is kind of relief for all those who were once stuck to access Bitfinex’s unique professional experience’ due to the equity threshold.
From today, Bitfinex has removed its $10,000 minimum equity threshold, opening the world’s most advanced trading platform to everyone.
Bitfinex with current $261,700,450 market cap, aims at a broader range of traders via offering ‘limitless possibilities’. By removing the minimum equity requirement, anyone can access Bitfinex, starting from April 09, 2019.
Moreover, Jean-Louis van der Velde, CEO at Bitfinex says that;
“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, said CEO. For the last six months, we have been working hard to ready our platform for a new wave of customer accounts and 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.”
Following the tone, Bitfinex CTO Paolo Ardoino expresses the main reason behind this update. He says that the firm is looking for involvement of the developer’s community. He also reminded that the platform in the year 2018 ‘migrated data center, designed its own KYC software, help center, and reporting tool. Adding that he says everyone can now enjoy all these features at Bitfinex’s renewed platform.
Do you think about Bitfinex’s move of removing the minimum equity limit helps reach mass traders or crypto enthusiasts? Share your thoughts with us.