Bitfinex has announced changes in the equity requirements on the platform in response to an overwhelming demand from traders who wanted access to a unique and professional trading platform.
In the press release, the company noted that new changes and updates might enable users to use the platform without having an initial capital. The stock exchange reportedly continues to develop its infrastructure in accordance with its high reputation in a cryptocurrency environment. This includes migration to high-end dedicated servers, it can significantly increase security and reduce transaction latency.
"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," Jean-Louis van der Velde, CEO at Bitfinex, said in the press release.
The requirement for minimum thresholds was introduced in 2017, during a paper on the cryptocurrency market. Bitcoin prices grew very quickly, which led to a massive influx of new users into Bitfinex. To stop this process in order to reduce server overload. Only after making a deposit in the equivalent of 10,000 dollars on the trading platform.
The Bitfinex cryptocurrency market was repeatedly subjected to hacker attacks, which led to the loss of millions of dollars in cryptocurrencies. The history of the stock market was turbulent and very problematic. Despite this, Bitfinex is still one of the largest cryptocurrency exchanges in the world. The company is updating some areas of its client services, including an upgraded support center in order to more quickly resolve requests, and created a new portal KYC. In addition, Bitfinex aims to provide users with information about available tokens on their platform.