Bitfinex Background
For those interested in cryptocurrency, Bitfinex is something you should learn about, if you don’t already know it. They are a liquid and opaque exchange for the various types of cyber currency including Bitcoin, Bcash, Ethereum, Iota, Litecoin, Ethereum Classic, EOS, BTG, Zcash, Monero, Dash, NEO, Ripple, OmiseGO, Santiment, ETP, Streamr, Qtum, Eidoo, and Aventus as held up to the US dollar or BTC against USD or Bitcoin. Using an app, investors can do all the types of transactions on Bitfinex that you can do on a stock exchange.
There is margin trading using up to 3.3 times leverage on funding from their peer-to-peer margin funding platform. Traders can arrange their own financing rates or simply make the margin deal, and Bitfinex will apply their financing to it. Users can also lend funds for margin trades and either close the deal or renew offers. Buying can be done with the investor’s funds, or financing can also be arranged for up to 70% of the purchase.
Shorting is also possible on Bitfinex, again these transactions can be financed for up to 70% of the price. A borrower can only withdraw funds that do not include what was financed and the interest due for that transaction. If the value of the coins bought gets too low, then a forced sale will occur.
Bitfinex Safety
Bitfinex has solid smart management.
That said, cryptocoins are volatile. Lately many, including Bitcoin, have seen substantial increases in value, and in the last week of November 2017, Bitcoin hit a market value of $9K per block and could run up to $10K within a matter of days. Alternatively, it could also drop to $7K. So keep in mind that the funds are kept safe in the bank, but the value of an investment is at the investor’s risk or reward. Millions have been made in 2017, but like any stock exchange transaction, there’s no guarantee that things will continue as they have.
What Makes Bitfinex Great?
First off, it’s not for everyone. If you would not be comfortable making investments on the stock market, you won’t be with Bitfinex either since they are quite similar in what happens. Just think of your favorite type of crypto currency as stock in a company. Some are high fliers, and others are better for long-term investments.
Various countries do not have an exchange available for cryptocurrency in their boundaries. But that doesn’t necessarily preclude investment in them if that’s what you want. The Bitfinex is the largest such exchange. So much like you might prefer to trade on the NYSE for stocks, choosing Bitfinex is a no-brainer for those wanting to buy and sell cybercoins. Are you interested in learning more about Bitfinex?
To learn more checkout Bitfinex today!