How much can be achieved in six months? At Bitfinex, the answer is “LOTS!”

‘It’s not what you watch; it is what you see. – Henry David Thoreau

2020 has been a challenging year for all of us. The global economy is on a downward spiral as governments struggle, industries shrink and many businesses collapse as a result of the global pandemic and humanitarian crisis.

But when people see the hole, we see the whole donut. What everyone sees as a debacle, Bitfinex sees as an opportunity. The chaos has challenged many people about what they have always believed, which we see as the perfect opportunity to introduce them to the many possibilities of cryptocurrency.

Despite the ongoing crisis, Bitfinex remained focused on the mission to build a transparent and scalable infrastructure of innovative financial products that are accessible to everyone, regardless of their level of expertise or experience. In line with our mission, we have worked hard to deliver products and features for the benefit of our users, the cryptocurrency community in general, and those new to the cryptocurrency industry as mentioned above.

Here are the highlights of what we’ve done so far this year:

Top 10 updates not to be missed

1-Support for credit and debit card payments

Bitfinex introduced new payment options – payment with credit and debit cards – allowing a wider audience to access cryptocurrency.

2 sub-accounts

Trying out different trading strategies can be easily tried out with Bitfinex sub-account function.

Switch off program with 3

We have our setting program and paid out our first $ 100,000 rewards within less than a month of launch. We have also published educational content to help our community get to know our new service better.

4-Bitfinex Pulse

We have launched our own news aggregator and social platform to enrich the social trading activities of crypto traders.

5-Paper trade

In response to customer demand, Bitfinex launched the Paper Trading feature which provides users with the opportunity to learn and upgrade their trading skills and strategies in a safe environment.

6-ZERO charges for USDT / USD pair announced

We have introduced zero trading fees promotion for Tether / US Dollar (USDt / USD) pair to reward our active and loyal customers.

7-The Honey Framework v.3.1.1 released

The last version of the Honey Framework is equipped with new functionalities that improve the experience of creating strategies. You can learn more about the Honey Framework on the new website.

8-Bitfinex Reporting Tool has been given a new look with more features

Were designed Bitfinex Reporting Framework to make it easier for traders to track their trading performance.

9-More UNUS SED LEO benefits introduced

UNUS SED LEO holders will enjoy one new discount scheme based on the calculated amount on main and sub accounts.

Redesigned 10-Bitfinex’s website

We have revamped our website to provide the best user and trading experience and have the color blind friendly theme on the Bitfinex mobile app.

New quotes, futures trading and margin trading leverage

Tether Gold (XAU ₮) listing and margin trading launched

Bitfinex listed Tether Gold (XAU ₮), giving users and the crypto community access to trade the gold-backed stablecoin even with leverage.

The maximum leverage of margin trading has increased

Updated margin trading for different cryptocurrency pairs

  • Tezos: higher maximum leverage of 3.3x and lower initial equity of 30%.
  • Ethereum: higher maximum leverage of 5x and lower initial equity of 20%.
  • EOS: higher maximum leverage of 5x and lower initial equity of 20%.
  • Bitcoin: 5x higher maximum leverage.
  • XRP: Increased maximum leverage of 5x.
  • Litecoin: Increased maximum leverage of 5x.
  • Cosmos: maximum leverage of 2x, starting power of 50% and a maintenance margin of 20%.
  • Algorand: maximum leverage of 2x, initial equity of 50% and maintenance margin of 25%
  • FTX token: maximum leverage of 1.66x, initial equity of 60% and maintenance margin of 30%.
  • Futures trading for Tether Gold / Tether pair launched

Provide more access to the gold linked digital asset, Tether Gold, futures trading for XAUTF0 / USTF0 is available on Bitfinex Derivatives *.

Tether on Algorand on Bitfinex

Bitfinex users can deposit and withdraw USDt with Algorand transport protocol on Bitfinex.

Introduced new token display mechanism

Bitfinex introduced one new token list form to streamline the token listing application process and ensure its fairness.

Milestones

The Bitfinex Affiliate Program Distributed Fees

More than $ 500,000 in benefits has been paid associates.

Bitfinex Lightning Network increased capacity and new channels

Bitfinex LN’s capacity is increasing, reaching a new milestone as the 5th largest capacity.

We have upgraded Lightning capacity to better serve the needs of our users. We also opened 65 new ones Lightning channels with our users and more than 500 BTC added, making Bitfinex’s total Lightning capacity up to more than 71 BTC.

Bitfinex built-in crypto hedge fund, Fulgur Alpha

Bitfinex on-board Fulgur Alpha, a $ 280 million cryptohedge fund to its platform, which Bitfinex has cemented as the go-to venue for major crypto funds, market makers and arbitrageurs.

Over $ 2 Billion 24 Hour Trading Volume

When the crypto market crashed, Bitfinex smoothly processed $ 2 billion in trading volume within 24 hours.

Bitfinex ‘institutional custody solution launched

Bitfinex launched a post-trade service for institutional investors, in partnership with Koine.

Burned 20M of UNUS SED LEO tokens

We hit the first 20M UNUS SED LEO Coins burned.

The performance of the newly launched Bitfinex stakeout program

US $ 130 million in tokens wagered on Bitfinex’s stakeout program within a month of launch.

Bitfinex Pulse affected 5,000 users

Only within a month of launch, Bitfinex Pulse welcomed 5,000 traders.

Shimmer, launched its own surveillance tool

Bitfinex launched Flicker that helps detect potentially improper trading activities and combat abusive practices such as money laundering.

Competitions, giveaways and more user benefits

Bitfinex-Chiliz trading competition

Bitfinex pitched one trade competition, in partnership with Chiliz (CHZ), giving users the opportunity to showcase their trading skills and win the soccer ball signed by Juventus players.

Bitfinex pitched the first merchandise giveaway

We threw a merchandise to give away in response to community demands for Bitfinex merchandise.

Bitfinex celebrated Bitcoin Pizza Day

We threw the “Bitcoin Pizza Day, Bitcoin Pizza Yay” contest to celebrate Bitcoin’s first commercial transaction.

First UNUS SED LEO Burnday Anniversary Party

Bitfinex celebrated the first anniversary of UNUS SED LEO burnday by throwing the “Win and trade like a LION” contest.

Santiment 30 days free trial for Bitfinex users

In association with SantimentBitfinex users get an exclusive offer of 30-day free trial of Santiment’s data where they can get a 360 degree view of the crypto market and invaluable insights

Educational content and explanation

The Lightning Series

The Lightning series explained everything about the Lightning Network.

Bitfinex supports institutional investors entering the crypto space

Bitfinex CTO, Paolo Ardoino spoke about the company’s willingness to serve and support institutional investors as they enter the crypto market.

How to get the most out of the Bitfinex platform

All of our features are built with users’ interests in mind so we want them to know how to use them.

Bitfinex Reporting framework setup

Bitfinex of course ODEM.

The various derivatives of the crypto ecosystem

We spoke about the various derivative products in the crypto ecosystem to inform our users.

Bitcoin Halving series

Bitfinex joined the crypto community by celebrating Bitcoin’s third halving by one educational series around one of the most anticipated events in the crypto space.

How to Get the Most Out of Your Bitfinex Pulse Account

The content showed traders how to get started and get the most out of Bitfinex Pulse.

And we have just started! It’s been a great year so far and as we travel through the second half of the year we know it will get even better.

If you don’t have an account with Bitfinex, you can get started by clicking the button below. Try out our new Paper Trading feature so you can test all the powerful features of a safe trading environment with a test balance.

Here’s to close the year strongly 🍻





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