Continuing our heritage of providing a neutral, coin-agnostic platform, from today Bitfinex users will be able to trade Tether-fiat directly on our platform through the addition of USDT/USD and EURT/EUR Tether trading pairs. This replaces the previous 1:1 conversion on deposits and withdrawals provided by Bitfinex, and reflects the increasing range of choice in the stablecoin market and demands from our consumers.
Tether was created October 6th2014 in response to a clear market need to allow movements of funds quickly between different exchanges, whilst benefiting from the stability of the US Dollar. It remained the sole stablecoin in the market until March 2018, with a handful of alternatives launching this year.
Historically by providing the guarantee of the Tether / US Dollar 1:1 peg, Bitfinex has protected customers, ensuring they can redeem at any time. Having increased visibility of Tether through some shared executive team members gave Bitfinex the confidence to commit to this approach.
Now in reflection of the evolved stablecoin market, and in keeping with our ethos that an exchange should be a neutral actor, wallets on Bitfinex will support Tether balance USDT and EURT in addition to the existing USD and EUR fiat balances. Users may then use this new pair to convert fiat to Tether and vice versa as desired. This effectively means that Bitfinex users can deposit, trade and withdraw USD and EUR in both fiat and Tether denominations.
At Bitfinex we are proud to consistently be first in market in supporting forks and access to all major currencies. We were the first to introduce alternative stablecoins onto our platform, including Dai (an Ethereum collateralised stablecoin), and we will introduce new stablecoin pairings as and when demand is high enough to list them on our exchange.
All existing USD balances on Bitfinex will remain fiat and unaffected by this change. Any Tether deposits initiated before 14:30:00 UTC on the 27th of November will be credited to the user's fiat wallet balances, whereas Tether deposits initiated after this cutoff time will be credited as Tether (USDT). As always, our dedicated support team will be available 24/7 for any queries around this change.
This update is launched in conjunction with increased flexibility in the redemption of Tether with a major update to the Tether.to platform. Customers are now able to redeem their USDTs to USD directly through the newly-updated Tether.to platform. The Tether website now supports full account verification whilst allowing for direct Tether-to-fiat conversions at a fixed 1:1 rate. See the full Tether announcement here to find out more.
As a team, we will continue to work hard to provide the best solutions for our customers, with the technology, expertise, and drive to adapt and evolve as quickly as the crypto market moves.
The Bitfinex Team
Today we are pleased to introduce trading for RSK (RBTC) - a smart contract platform secured by the Bitcoin network.
Trading will be enabled for RBTC against BTC and USD. Margin markets may be introduced pending the development of a sufficiently liquid trading market.
RSK is the first smart contract network secured by Bitcoin. The network provides scalability whilst reducing storage and bandwidth usage using probabilistic verification and sharing techniques, thus providing flexibility for instant payments such as retail-ready store payments and microcredits.
RBTC is the native token of RSK and is used to pay gas to execute RSK transactions and smart contracts. RBTC is pegged 1:1 to BTC, and can be autonomously converted to/from BTC through the so-called 2WP’ that bridges the Bitcoin and RSK protocols.Start trading RBTC. Learn more about RSK and the RBTC token.
As of 1pm UTC today, November 22nd 2018, we will be opening up deposits and withdrawals for BAB (Bitcoin Cash ABC).
Users are at this point in time able to generate new BAB deposit addresses on Bitfinex. All previously issued BCH deposit addresses will still be considered valid and viable for BAB deposits moving forward.
Please note that at this time we will not support Replay Deposits. If you send a BAB deposit and BSV gets replayed along with it, we will not recover or credit you BSV.
Users should take extra precaution to ensure that their transfers are split and that only the token that they wish to deposit is transferred. Please take extra care when making any BAB/BSV transfers and ensure that you are using both the correct address and token.
If you are unsure as to what the above means, please contact [email protected] prior to initiating the transaction.
In line with the above, we expect to enable BSV deposits and withdrawals in the coming days. BSV deposits, when opened, will require the generation of a new deposit address. Further announcements will be made as and when BSV deposits open.
Both BAB and BSV are currently trading on Bitfinex - both against USD and BTC. See more here.
Margin trading and funding for BSV and BAB is not currently available but may be offered at a later point in time upon stabilisation of the respective markets.
For more information, please visit the Bitfinex Telegram.
Today we are incredibly pleased to introduce trading for Wollo (WLO) - a unique Stellar-based token centred around driving mass adoption of cryptocurrencies and financial education..
Trading will be enabled for WLO against XLM and USD pairs, with margin markets to be introduced pending the development of a sufficiently liquid trading market.
The addition of Wollo to Bitfinex represents a significant milestone for our team and the wider blockchain space. WLO is the first Stellar token to make its way to Bitfinex and we are proud to act as a platform of support, development and education for projects championing the values that Pigzbe promote.
The capabilities of distributed technologies have evolved rapidly over the past year and it is the fundamental responsibility of participants in this space to help foster growth and facilitate learning if these groundbreaking technologies are to succeed. However, this represents just one of multiple reasons for our collaboration with Pigzbe and Wollo. With a focus on promoting financial education from an early age, Pigzbe works to empower its users whilst lessening the gap between between cryptocurrency potential and adoption.Start trading Wollo. Learn more about Pigzbe and the WLO token.
On November 11th November Bitfinex announced support for Bitcoin Cash hardfork happening on November 15th.
In the last days it has been more evident that the fork will likely result in two different chains, Bitcoin Cash ABC and Bitcoin Cash SV.
At the same time our BCH markets experienced a significant increase of Margin Short positions in quantity and size.
To prevent any risk of manipulation and hence to maintain a healthy market we have decided to use the Chain Split Tokens (CST) approach to govern this particular event.
Bitfinex is introducing new Chain Split Tokens (CSTs) that will allow traders to trade the anticipated Bitcoin Cash tokens resulting from the Bitcoin Cash hard fork implementations "ABC" and "SV" on November 15, 2018. We are designating these CSTs "BAB" (ABC implementation) and "BSV" (SV implementation).
These CSTs will trade against USD and BTC as pairs BAB/USD, BAB/BTC, BSV/USD and BSV/BTC. Margin/leverage will be unavailable. Users will be able to create or destroy these new CSTs in any amount using the Token Manager located in the Order Type drop down menu of the sidebar order ticket, or in the menu at the top of the UI. Upon creation by a user, the BCH will be debited from the user's account and an equivalent amount of BAB and BSV will be credited. Users will be able to reverse this process at any time using the Token Manager.
These CSTs will provide pricing continuity through the Snapshot Event. After the Snapshot Event, these pre-event CSTs will convert automatically to the post-event on-chain tokens. We will use the symbol "BAB" for Bitcoin Cash ABC and symbol "BSV" for Bitcoin Cash SV to designate the post-event on-chain tokens.
When the hard fork occurs, we will take a snapshot of all Bitcoin Cash balances and positions. BCH balances will be credited both BAB and BSV. Anyone who is short BCH during the Snapshot Event will have a their accounts debited BAB and BSV. If there is not enough BAB and BSV in the account, these users will have a negative balance of BAB and BSV. Anyone who is long BCH during the Snapshot Event will then have BAB and BSV credited to their account. In other words, outstanding positions (including margin positions) will be “claimed” and converted to currency balances. This will have the effect of margin funding being canceled and borrowers will need to restore their account to positive wallet balances in order to continue using the platform.
As an example: If a user holds 5 BCH and has and active 10 BCH/USD long margin trading position with a base price of 500 USD at the Snapshot Event, this user will see 5 BAB and 5 BSV credited based on his 5 BCH balance prior to the Snapshot Event. As a result of the active margin trading long position 10 BAB and 10 BSV will be credited and -5000 USD will be debited.
At the moment of the Snapshot Event (UNIX time 1542300000, i.e. 4:40:00 PM UTC, November 15th), we will immediately freeze all BCH balances and halt all BCH/XXX markets.
This freeze will last until the BAB and BSV accounting can be adequately prepared and addressed. We expect the process to be quick and automated, but we cannot guarantee that it will be immediate. BCH borrowers can hedge or estimate this liability with newly listed CSTs.
Anyone with a negative balance resulting from being a BCH borrower at the time of the fork will need to buy back into BAB and BSV before 31 December 2018 or risk having the system do it for them. Once all negative balances have been settled, we may, at our sole and absolute discretion, delist BAB or BSV and make withdrawals only available for a limited time. While we want to make such forks available to our customers, our limited and temporary support for them is not and should not be construed as support for any particular project.
On November 19th, Bitfinex will list Wollo (WLO), a unique token by one of the most innovative and refreshing projects geared toward mass adoption of cryptocurrencies and financial education.
This is a special moment for us because it’s the first Stellar token to be released on Bitfinex. This is a significant milestone in the Bitfinex roadmap, and in the Stellar roadmap too, following the IBM partnership and Chain acquisition.
The capabilities of blockchain technology and cryptocurrencies have evolved so fast, we are now in a position where mass adoption is possible. However there is currently a large gap between its potential, and the level of crypto literacy amongst the general public.
At Bitfinex we are passionate about providing education to help open up the world of crypto to everyone. We have deliberately built a community for developers, investing in open-source to share knowledge and collaborate.
It’s for these reasons we like Stellar, a platform where communities like families can form micro-financing networks around a shared interest. And it’s for these reasons we like Pigzbe, the issuer of WLO. Their device and DApp is created specifically to teach children about 21st-century money, and WLO has been carefully designed to be family friendly.
The Wollo token listing is just the first step, marking the start of an ongoing collaboration with Pigzbe and Wollo. Specifically, Bitfinex’s API’s could be integrated to bring access to simple trading amongst smaller communities like schools, which Pigzbe access.
We look forward to welcoming Wollo to the Bitfinex platform on November 19th and helping Pigzbe drive adoption and family empowerment. We hope you will get behind it too.
To learn more, please refer to our full announcement.
To learn more about the unique mission and values of Pigzbe, see Pigzbe.com.
Effective immediately, Bitfinex will charge a 3.0% fee on all external wire withdrawal requests exceeding the following frequency and/or size limits:
Regular withdrawals, currently representing the requests of more than 99% of our customers, are unaffected by this change.
Bitfinex serves as the primary fiat gateway in the crypto ecosystem, having processed over 700 withdrawals representing more than $1B in October 2018 alone.
Our banking remains stable, but we must prioritize our long-standing and loyal customers using the platform so that they can continue to benefit from our truly unique offering, the benefits of which extend far beyond our users and include many crypto-to-crypto and crypto-to-stablecoins exchanges.
We will continue to fight to defend the use of an independent fiat gateway despite sustained and co-ordinated attacks from powerful forces attempting to harm global cryptocurrency markets. We are thankful for the support that many of our customers and others have shown us behind the scenes. Now it is important that we all remain united and support our industry beyond any cryptocurrency or individual exchange preference.
Any withdrawal requests before this announcement will be processed under the old fee schedule.
Bitfinex may exempt customers from this charge in its sole discretion. Bitfinex’s fee schedule remains subject to change at any time.
Bitfinex is pleased to announce full support for the upcoming Bitcoin Cash hard fork taking place on November 15th, 2018.
Bitfinex will complete a full account snapshot of Bitcoin Cash balances at UNIX time 1542300000, i.e. 4:40:00 PM UTC, November 15th. Deposits and withdrawals of BCH will be suspended as of 3:30:00 PM UTC, November 15th.
Bitfinex will manage all technical requirements surrounding the process for all users for whom the Bitcoin Cash hard fork is relevant.
Bitfinex will not advocate for or against any particular fork, and miners have full prerogative to commit their hashing power to whichever projects they choose. At the time of writing, we do not believe that there is sufficient consensus to identify a clear winner in the Bitcoin Cash hard fork.
A separate announcement will be made on November 16th, following the event, to notify our users of a successful hard fork. In the meantime, please visit the Bitfinex Telegram group or contact [email protected] should you have any questions.
We are pleased to introduce trading for DigiByte (DGB). Trading will be enabled for DGB against BTC and USD pairs, with margin markets to be introduced following the development of a liquid trading market.
DigiByte is a global blockchain system with a focus on cybersecurity for digital payments & decentralized applications. The DigiByte Blockchain is positioned towards the development of a secure and decentralized digital future with a unique combination of innovation and resilience.
Access the DigiByte trading markets here.
Learn more about the DigiByte project at Digibyte.io.
Bitfinex is pleased to introduce Internet Node Token (INT), DragonChain (DRN) and Kleros (PNK).
Trading will be available against ETH and USD and will see 0% maker fees on Ethfinex for the first 3 days of trading.
Both tokens were winners of round 12 of the Ethfinex Community Listing vote, a biweekly vote amongst Ethfinex users to determine new token listings. The voting takes place on Nectar.community - the Nectar (NEC) powered governance platform for Ethfinex users.
To learn more about the tokens, please visit theBitfinex knowledge base.