In response to customer demand, we're pleased to now facilitate credit and debit card purchases of cryptocurrencies on the Bitfinex platform.
From 20/12/19 12:30 PM UTC, customers can use their credit or debit cards to purchase cryptocurrencies such as bitcoin, tether (USDt), ether and other ERC20 tokens listed on Bitfinex.
In an integration with specialist third-party providers Mercuryo and OWNR Wallet, Bitfinex customers will have access to the seamless processing of card transactions, protected by the highest levels of security. Unverified customers will be able to purchase certain cryptocurrencies using a credit or debit card directly via Mercuryo, subject to restrictions in its terms and conditions, while OWNR will only support card payments made by verified Bitfinex customers.
The introduction of credit and debit card support once again demonstrates our ongoing commitment to engaging with new customers to grow the wider crypto community.
We're pleased to announce the removal of the small deposit fee on our platform.
From 18/12/19 3:00 PM UTC, customers will no longer be required to pay a fee for deposits of less than 1,000 USD equivalent. This fee removal will provide our existing and prospective customers with greater flexibility and options on their deposit amounts.
The small deposit fee was first introduced in December 2017 to counter the high number of small deposits made in an attempt to spam our platform and slow down our services. Numerous small deposits created an excess of tiny wallet inputs that required wallet input consolidation maintenance. The small deposit fee served to keep withdrawals flowing smoothly for all our customers.
As we have since developed capabilities to thwart these deposit-related spam attacks, the small deposit fee is no longer required.
The removal of the small deposit fee follows the removal of the USD 10,000 minimum equity threshold earlier this year, further demonstrating our ongoing commitment to onboarding new retail trading customers and growing the wider crypto community.
On December 18th, in exactly seven days, the Nectar DAO Bootstrap Phase will begin.
necDAO will be one of the largest DAOs to date launching with c.17,000 ETH, placed in the control of Nectar holders to serve the DeversiFi and Nectar ecosystem. This will be the first time Nectar holders can claim Reputation (membership and voting power) before necDAO opens for full operation on 24/01/20.
Nectar holders with their funds on Bitfinex must move their Nectar to an on-chain wallet (MetaMask, Ledger, or Trezor) before 18/12/19 in order to be included in the Reputation Airdrop snapshot (taken at the point of deployment on 18/12/19).
On this date and onwards for one month, Nectar holders will be able to interact with the Bootstrap UI in order to claim their membership in necDAO.
This snapshot/airdrop will only occur once.
As such, please act now to move your Nectar on-chain.
We're pleased to announce that Bitfinex will be supporting Ethereum's upcoming system-wide Istanbul upgrade.
The scheduled upgrade will happen at block number 9,069,000, which is predicted to occur on Saturday, December 7, 2019.
Bitfinex customers will not be able to deposit or withdraw ETH and ERC20 tokens starting from a few hours before the upgrade. Should you be depositing ETH or ERC20 tokens, please do so enough time in advance.
You can still trade ETH and ERC20 tokens during this upgrade.
Once the network upgrade is complete, deposits and withdrawals will resume.
For more information on the Ethereum Istanbul Upgrade, please visit: blog.ethereum.org/2019/11/20/ethereum-istanbul-upgrade-announcement
We're pleased to announce a joint initiative with Bitrefill that will enable our customers to shop using Bitcoin, utilizing the first B2B settlement process deploying the Lightning Network!
Bitrefill is a provider of digital gift cards and mobile airtime refills using Bitcoin technologies.
With the integration of Bitrefill's catalog into the Bitfinex platform and by leveraging cutting-edge capabilities of the Lightning Network, our customers can use Bitcoin to pay for a variety of services, such as gaming, dining, entertainment and travel, or shop from Bitrefill's international catalog of more than 2,000 digital gift cards and receive voucher codes instantly.
In the background, Bitfinex and Bitrefill will be using a customized Lightning-channel setup to open large channels and automatically settle payments. This eliminates the need for B2B credit term relationships and provides better flow and reliability for our customers.
This joint initiative aims to power and close the loop for the Bitcoin circular economy. This also underlines our commitment to building the new digital economy, following on from our recent introduction of support for Bitcoin deposits and withdrawals on the Lightning Network.
Discover Bitrefill's catalog and start living on crypto.
We're pleased to announce that Bitfinex has launched support for the Lightning Network!
The Lightning Network is a decentralized system of smart contracts built as a second-layer of the Bitcoin blockchain, enabling custodian-free instant, high-volume micropayments across a network of participants.
The Lightning Network creates a secure network of participants that can transact with each other directly, without having to broadcast everything on the Bitcoin blockchain. The second layer technology for Bitcoin uses the blockchain only for final settlement of funds, which happens when the payment channels are closed.
The Lightning Network contains nodes that act as open payment channels for Bitcoins to be sent and received. The Bitfinex platform is running its own Lightning Network node, which you can connect to and open a payment channel with us here: https://ln.bitfinex.com/
You can now deposit and withdraw Bitcoins on Bitfinex via the Lightning Network. For more information, please visit: Lightning Network Deposits and Withdrawals.
Bitfinex will be performing a system upgrade on Thursday, November 28th designed to enhance the stability and scalability of the iFinex infrastructure.
The upgrade is set to commence at 10:30AM UTC and services will be offline from three to seven hours. Please note that this is a rough estimate and the precise time may change slightly based on market movements.
The platform upgrade will require taking all iFinex trading platforms offline for the duration of the maintenance period. This means that Bitfinex traders will be unable to trade, view or obtain access to their wallets during the update.
We kindly ask all our traders to plan ahead accordingly and make the necessary account adjustments prior to the start of the platform upgrade.
What this means for traders
Traders on Bitfinex will not be required to take any action:
For more information on the day of the upgrade, please refer to the Bitfinex status page and Twitter account for official progress. We will let our users know five minutes before the platform reopens. Trading will start ten minutes after the platform is accessible again. We appreciate your patience during the system upgrade and look forward to presenting you with an improved trading experience.
Bitfinex is supporting the Monero (XMR) protocol upgrade scheduled for 30/11/19. This is being done to improve levels of privacy on the Monero network, along with the introduction of a new long-term Proof-of-Work algorithm, RandomX.
Customers will be required to regenerate their XMR deposit addresses on our platform from 27/11/19 12:00 PM UTC.
For further information on the upgrade: https://web.getmonero.org/2019/10/01/announcement-release-0-15.html
On November 22, without notice to us, a class action complaint was filed against Bitfinex and Tether in the U.S. District Court for the Western District of Washington. This copycat lawsuit suffers from the same multitude of deficiencies as the unsound complaint filed in the U.S. District Court for the Southern District of New York on October 6. The Plaintiffs' claims here are similarly without merit, and Bitfinex strongly contests the bogus research purporting to support them.
As we predicted last month, mercenary lawyers continue to try to use Bitfinex and Tether to obtain a payday. To be clear, there will be no nuisance settlements or settlements of any kind reached. Instead, all claims raised across both actions will be vigorously contested and ultimately disposed of in due course. Once they are, Bitfinex and Tether will fully evaluate their legal options against those bringing and promoting the baseless claims.
These absurd and groundless accusations are an attack on the growth, success and innovation of the entire digital token ecosystem, in which Bitfinex is proud to play a critical role. Meritless lawsuits like these are a continuing affront to the efforts and dedication of Bitfinex's customers and all participants in the digital currency ecosystem. Our fight is the community's fight.
Founded in 2012, Bitfinex is a digital asset trading platform offering state-of-the-art services for digital currency traders and global liquidity providers. In addition to a suite of advanced trading features and charting tools, Bitfinex provides access to peer-to-peer financing, an OTC market and margin trading for a wide selection of digital assets. Bitfinex's strategy focuses on providing unparalleled support, tools and innovation for professional traders and liquidity providers around the world.
Bitfinex and its affiliates have never used Tether tokens or issuances to manipulate the cryptocurrency market or token pricing. All Tether tokens are fully backed by reserves and are issued and traded on Bitfinex pursuant to market demand, and not for the purpose of controlling the pricing of crypto assets. It is irresponsible to suggest that Tether or Bitfinex enable illicit activity due to the efficiency, liquidity and wide-scale applicability of Tether's products within the cryptocurrency economy.
We're excited to announce a platform update that brings new important features to Bitfinex traders.
We're dedicated to bringing you the best platform possible. Feedback from our customers is incredibly valuable to us. If you have any suggestions, please join the Bitfinex Telegram channel.