Bitfinex Announces 100X Leverage Availability
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Answer Bitfinex Announces 100X Leverage Availability
Trading platform Bitfinex has added 100X leverage for the BTC/USDT and ETH/USDT trading pairs.
Immediately after the completion of the platform system upgrade.
The perpetual contracts and 100x leverage that Bitfinex announced has been in development for several months, according to an article published last May:
“Eligible Bitfinex account holders will be able to trade the new product through a derivatives portfolio, the collateral will be USDT-based and provide a leverage level of up to 100X with a segregated margin allocated to the individual risk level.”
These products are similar in nature to the leveraged derivatives offered by the BitMEX platform.
The financial leverage is one of the most important characteristics that cryptocurrency trading platforms seek to add and present to their users to provide a tool that helps speculators to increase the potential return that is exactly equal to the level and possibility of loss.
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Bitfinex derivatives BTC/USDT and ETH/USDT just launched pic.twitter.com/ptP3P74IS6
– Degam (ItsMeDegam) September 2, 2019
Among the new announcement, US users and residents of Canada, Switzerland and Seychelles cannot trade derivatives listed within the declared leverage.
Interestingly, the new announcement from Bitfinex coincided with the announcement of Binance, which in turn launched margin trading with Bitcoin futures.
Bitfinex is also working on launching a new platform to expand its product options by allocating a new entity and branch called iFinex Financial Technologies Limited, registered in the Seychelles.
hung Paolo Arduino, Director of the Technical Office of Bitfinex, about the new announcement, saying:
“We are very excited about the possibilities that new products will bring that are not previously available on our platform and on our new platform.
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We are constantly working to support Bitfinex to remain a leader in innovation in the crypto market.”
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