Bitfinex is accepting new user registrations |

Bitfinex is accepting new user registrations

Peter Terlato 12 January 2018 NEWS

The popular Hong Kong-based online cryptocurrency exchange trading platform is allowing new accounts.

Bitfinex, one of the leading bitcoin exchanges, is allowing new registrations after denying requests for weeks.

Based in Hong Kong, the cryptocurrency exchange launched in 2012 and has enjoyed steady expansion since.

The exchange is a trusted source of cryptocurrency trading, with daily volumes well north of US$1 billion. In addition to bitcoin, it provides access to the world’s leading altcoins as well as full-spec wallet services.

“We suggest that traders who are new to cryptocurrency trading try another, more straightforward platform first and return to Bitfinex later,” Bitfinex Management said in a statement posted on their website.

Accounts created after January 1, 2018, will have an activation equity requirement. New accounts will need to deposit fiat or crypto to achieve minimum account equity of US$10,000 equivalent before they can trade.

Accounts will be approved after reaching this minimum. After activation, account equity can drop below the required equity threshold without consequence. Existing accounts will not be affected by these changes.

Bitfinex closed its doors to new users in mid-December 2017. However, it wasn’t the only exchange to do so.

Virtual currencies and the blockchain networks and exchanges that run them are bursting at the digital seams.

Many major cryptocurrency platforms have denied access to new clients in the past few months, including China’s Binance exchange, US-based exchange Bittrex, UK-based network CEX.IO and US exchange Kraken.

In November last year Bitfinex barred US-based traders from utilizing its exchange services. Additionally, fiat currency deposits were prohibited in April, meaning users could only trade by depositing cryptocurrencies.

However, according to Bitfinex’s beginner’s guide, it’s once again possible for users to deposit and trade fiat currencies (USD or Euro) but only through verified accounts, which can take up to five weeks to be processed.

Find out more about Bitfinex and discover other popular, global cryptocurrency exchanges.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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