Bitfinex, the popular bitcoin and cryptocurrency exchange, announced today that the company has removed its $10,000 minimum equity threshold, which opens up the platform to a wider user base.
The Bitfinex team said that the update comes in response to strong demand over the past six months from a broad variety of traders seeking to access the unique professional experience available at Bitfinex, but without requiring the 5-figure upfront equity.
“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. For the last six month,s 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.”
Enhanced Reporting Features
Bitfinex also informed users on updates to its trading and reporting tools, the details of which can be found below:
- Active Positions – In the most recent update, Bitfinex added a section to highlight ‘Active Positions’. This new section allows users to comprehensively evaluate their active positions, including the status, amount, positive/negative values, funding types and amounts used for each position. On top of this, users also receive information pertaining to profit & loss percentages, liquidation price, leverage and more. Moreover, as part of future upgrades, users will be able to audit their active positions as its actually done with positions history.
- Public Funding – The platform will now display Public Funding Trades to let users evaluate the funding amounts, rates and periods of different currencies across selected time-frame.
- Data Copying – Excel, Google Sheets, LibreOffice or equivalents all represent essential tools for professional traders in the digital asset space. Bitfinex now allows users a fast and seamless way to export small amounts of data. With this new feature, users simply mark the fields they want to copy and paste them directly into their desired program, as visualized below.
- Funding Earnings – The ‘Funding Earnings’ section provides users with a clear overview of all earnings, allowing for improved control of all funding activities. This section can only be used when the sync mode is on.
- Refactored Back End – Bitfinex has refactored its backend code to make it simpler for traders in the space to process. The Bitfinex team encourages users to send a Pull request to its GitHub repository or create issues if they come across something not working.
- General Improvements – In addition to the updates above, the Bitfinex team has also deployed the following fixes. Fixed missing pages on deposits & withdrawals; Fixed missing pages when filtering for more than one token; Improved filtering of date/time; Fixed symbol formats; Improved ticker selection; Updated email templates.