- Traders demanded that $10,000 minimum equity requirement be removed.
- Bitfinex improves the support center and the KYC portal among other upgrades.
The Hong-Kong based Bitfinex exchange has released an announcement stating that it is scrapping the minimum equity requirement. The announcement published on the exchanges official Medium channel on April 9 states that the requirement that had been set at $10,000 has been removed due to cries from the traders on the platform. The CEO of Bitfinex, Jean-Louis van der Velde is in the post:
“We simply could not ignore the increasing level of requests for access to trade on Bitfinex from a wider cohort than our traditional customer base. For the last six months we have been working hard to ready our platform for a new wave of customer accounts and are now in a position to open Bitfinex to a wider audience.”
The Medium post also said that the exchange’s infrastructure has been upgraded to allow the platform to accommodate more users. Among the areas improved are its support center, the new Know Your Client (KYC) portal in addition to providing sentiment analysis for the supported tokens.
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