Announcements

DRKUSD and DRKBTC pairs added on Bitfinex
June 02, 2014

We are pleased to announce that Darkcoin will be available to trade on the Bitfinex platform starting at 6PM CET. It is rare for us to add new trading products, but we believe that the advent of privacy-centric cryptocurrencies warrants our attention. Specifically, we believe that Darkcoin and the team behind it represent the most credible foray into this important frontier, and now that Darkcoin's market capitalization has reached non-trivial levels, we have decided to offer it as a trading option to our customers. As one might expect, will support trading in DRK/BTC, but, in addition, we will the first exchange to support trading in DRK/USD.

While we have no crystal balls at Bitfinex, we do nonetheless believe that the new features that Darkcoin aims to implement represents a substantial development in the cryptocurrency space, and we believe that any innovation that enhances privacy deserves our attention. Naturally, we do not condone the use of Darkcoin for illicit purposes, but we do believe in the right to privacy.

Initially, we will only offer cash exchange transactions. In time, as our order book deepens and Darkcoin successfully navigates certain milestones, we will also possibly allow swap leverage and shorting, should Darkcoin's risk profile and volatility merit it.

Darkcoins can't also be used as collateral for margin transactions.

We hope that you that you find these new trading products to be of value to you and we, of course, always welcome your feedback.

New deposit bank
May 08, 2014

Please note that the deposit bank has changed. All verified customers can find the new bank details on the deposit page.

Wires sent to our previous bank accounts starting from tomorrow may be returned

Limitation of decimals of orders
May 02, 2014

To prevent orders spam, the price of new orders will be limited to 5 significant digits. All prices with more than 5 significant digits will be rounded to the closest 5 digits value.

For example, an order at 455.123456 USD/BTC will be rounded to 455.12 USD/BTC.

This change will be in effect the 7th of May, 2014 at 00:00 GMT

Please note that all open orders at this time will be rounded down to the next 5th significant digits for bids, and rounded up to the next significant digits for asks at this time

Thank you for your understanding

Update about the OpenSSL vulnerability
April 08, 2014

We can confirm that all the systems have been reviewed and patched.

All user sessions have been reset, which is why you got all logged out forcibly.

Our SSL certificates have been re-generated, just in case.

You can now safely access Bitfinex again.

No hot wallets or sensitive access was compromised, as those information/systems are not on our front-end servers.

Finally, withdrawals have been re-enabled. However, if you already have a pending withdrawal, you need to confirm it by sending us an email to [email protected]

Thank you for your understanding

SSL vulnerabilities and your Bitfinex account security
April 08, 2014

As you may be aware, yesterday a vulnerability affecting latest versions of OpenSSL used by Bitfinex was discovered.

While this vulnerability has now been fixed, we strongly encourage you to change your password as soon as possible and enable/re-enable OTP authentication in your Bitfinex account.

Withdrawals will be disabled for 10 hours to let you the time to change your information.

We will update you about the situation in the coming hours.

Updates
March 21, 2014

We have some great news for our API users. Three changes has been introduced:

  • You can now generate and revoke multiple API keys on the API access page
  • A new call has been added to obtain information about your margin account: unrealized PL, net value, minimum net value,... with POST /v1/margin_infos
  • A new call has been added to obtain your current fee schedule for trading: POST /v1/account_infos
  • The /lendbook call now returns FRR offers, as well as a flag to distinguish FRR and fixed rates offers

The 2 new API calls are both authenticated.

Furthermore, we are also please to inform you about 2 changes regarding the claim feature for margin positions:

  • The fee for claiming a position has been reduced from 1% to 0.2%
  • The claim feature now allows you to settle any leverage position (long or short) using your trading wallet assets and/or your unrealized profit. The "Claim" button on each of your open position will provide you the necessary information (how much of the position you need to reduce and/or how much balance you need to have in order to take advantage of it

Thank you for choosing us!

Introducing OCO orders
March 18, 2014

As you may have noticed, we recently introduced a new feature: One-Cancels-the-Other orders (OCO orders). This feature will allow you to place both a take-profit and stop-loss target for your margin position without having to manually manage your orders when one is executed.

To take the most out of it, here is how it works on our platform:

To place an OCO orders pair, you have to chose a LIMIT order price (buy or sell) and check the option 'OCO'. A new field will appear, allowing you to set the stop price of the order pair. You can then place the orders pair by clicking on MARGIN BUY or MARGIN SELL.

When one of the order is AT LEAST partially executed, the other one will be cancelled automatically.

Happy trading

Maintenance of Bitfinex Friday 21/03/2014
March 18, 2014

In order to upgrade our infrastructure and keep pace with our growing success, we inform you that Bitfinex will be down for maintenance Friday, 21/03/2014, at 04:00 PM GMT. The expected downtime will be less than 30 minutes.

Thank you for your comprehension

Follow-up and clarifications to the March 15, 2014 announcement
March 17, 2014

1) The new maker/taker fee structure applies to displayed or “non-hidden” orders. The pricing is inverted for placing and interacting with hidden orders. In other words, if place a hidden order, you will be charged 0.20% if that order executes. The trader who “takes” that hidden order will pay the “add” fee instead of the “remove” fee based upon the idea that the trader can’t see the hidden order and places the order believing that it will add liquidity to the order book. This is being changed immediately and fees will be retroactively adjusted back to March 15th.

2) In response to the vocal minority of traders that use the “notify” feature, we will be restoring it immediately and we leave it in place until we fully implement the new account-level notification settings. The idea is to remove the “atomic”, event-level notifications in favor of global notification options. We expect to have that in place within the next week or so.

3) With respect to the changes in swap insurance and swap fees, we will be releasing within the coming days a much more detailed explanation of the issues surrounding the old methodology as well as clarification on how precisely the new “mandatory” insurance regime will work. Our objective is to create more confidence and transparency in the platform, not less – stay tuned.

We ask that you please be patient as we continue to make necessary adjustments to our platform. Such adjustments will pave the way for several new features and capabilities that we are confident will optimize your trading experience on the Bitfinex platform. We thank you for your continued support.

Changes on Bitfinex
March 16, 2014

Dear Customers,

In our ongoing effort to deliver the very best in cryptocurrency trading, Bitfinex is pleased to announce several changes and enhancements that will be effective on March 15th 2014 at 24:00:00 UTC.

New Commission Structure:

We have decided to adjust the commission structure to reward traders that “add liquidity” to the order book. This so-called “maker/taker” pricing strategy is a common feature in capital markets around the world and we believe that implementing such a strategy is in the interests of Bitfinex and its traders. We consider this change to be somewhat experimental and we will act quickly to make any necessary adjustments should it prove to be disruptive. The new fee structure will be as follows:

BTC/LTC Executed in Last 30 Days Current Fee New Add Fee New Remove Fee
Less than 500 0.15% 0.10% 0.20%
500 or more, but less than 2,000 0.14% 0.08% 0.20%
2,000 or more, but less than 5,000 0.13% 0.06% 0.20%
5,000 or more, but less than 15,000 0.12% 0.04% 0.20%
15,000 or more, but less than 25,000 0.11% 0.02% 0.20%
25,000 or more 0.10% 0.00% 0.20%

Please note the following:

Our highest applied fee (0.2% for liquidity removers) is the lowest in the market. Traders in the top tier trade commission free when adding liquidity. This change in pricing structure is designed to be revenue neutral to Bitfinex on an average per BTC basis. We will be revisiting the 30 day volume brackets in the coming weeks in an effort to create a smoother tier system.

New Banking Fees:

We have resisted making changes to our fiat banking policy, but we can no longer continue to absorb the increasing costs of maintaining multiple banking relationships around the world. As such, we are imposing a 0.10% fee on all withdrawals and deposits, subject to a $20 minimum. These fees are still amongst the lowest in the industry and we believe that this new fee structure represents a sustainable fiat banking model as we continue to grow. We are also proud to be one of the fastest platforms in withdrawals, with an average waiting time of 2.37 working days for our customers. This will remain unchanged. Express withdrawals fees (within 24 hours) will stay at 1%.

Removal of Notify Option:

The “notify” feature available when placing orders or liquidity offers is being removed as it is almost never used and doesn’t actually work very well in certain circumstances. We are, in general, always looking to simplify our interface and prune features that no one uses or may no longer be relevant, paving the way for us to add new features to a clean and uncluttered interface.

Removal of Swap Insurance Option:

We are eliminating the swap insurance options for traders offering liquidity. The model of an insurance “pool” only works if the pool size is significant relative the size of the swap market itself, which, at ~$54k it is not.

Change in Swap Policy:

Another reason for removing swap insurance is that we have decided to effectively insure all swaps on the platform. Our order book depth and increased volume over the last several months has created an environment where we are comfortable in managing the risks associated with forced liquidations. Although we have a greater comfort level, it does not mean that such insurance is not without risks to the firm’s reserves. As such we are increasing our fee on the swaps from 10% to 15%. We believe that this is a small price for liquidity providers (instead of the previous 30% insurance option) to have greater certainty and comfort during times of increased volatility.

Best regards
The Bitfinex team