Bitfinex, a top ranking bitcoin exchange has recently announced that it has removed its minimum equity limit required to open an account on the platform.
Bitfinex Removes $10,000 Minimum Equity Limit
According to the exchange, new users can now open an account without having to worry about the $10,000 minimum equity limit it had in place. This move by the exchange is as a result of huge demand from traders who want to enjoy the services the platform has to offer, without having to deposit at least $10,000.
This new policy makes it possible for everyone who has in previous time tried accessing the Bitfinex’s unique professional experience’ but was not allowed due to the equity threshold.
Bitfinex is said to have the world’s most advanced trading platform so this is a welcomed development for the entire crypto industry.
The access to the platform is now live and as of now, anyone can register on the platform.
CEO and CTO Comments
Jean-Louis van der Velde, CEO at Bitfinex, also made some comments confirming the recent development, he said:
“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.”
The Firm’s CTO Paolo Ardoino has also talked about the actual reason why the update was made. He expressed says that “the firm is looking for involvement of the developer’s community.” He also noted that last year, the platform “migrated data centre, designed its own KYC software, help centre, and reporting tool.”