Bitfinex is accepting new user registrations
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.
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.