Saturday, June 22, 2024

Bitfinex Makes Crypto Accessible to All with Fee-Free Small Deposits

Bitfinex, a state-of-the-art digital asset trading platform, has removed the small deposit fee for all users in a move that opens up crypto trading, providing existing and prospective customers with greater flexibility.

From 18/12/19 3:00 PM UTC, Bitfinex’s customers will not be required to pay a fee for deposits of less than USD 1,000 equivalent.

The small deposit fee was first introduced in December 2017 to counter the high number of small deposits made in an attempt to spam our platform and slow down our services. Numerous small deposits created an excess of tiny wallet inputs that required wallet input consolidation maintenance. The small deposit fee served to keep withdrawals flowing smoothly for all our customers.

“As we have developed capabilities to deter and thwart deposit-related spam attacks, the small deposit fee is no longer required,” said Paolo Ardoino, CTO at Bitfinex. “Removing the small deposit fee opens up the Bitfinex platform to a wider group of new retail traders who are seeking to enter crypto trading but with a smaller amount of upfront capital.”

The removal of the small deposit fee follows the removal of the USD 10,000 minimum equity threshold earlier this year.

“We’re committed to growing the crypto community,” added Ardoino. “Getting rid of the small deposit fee will open up crypto trading to more retail customers and enhance their onboarding experience to our platform.”

All deposits, activities, and users are subject at all times to all of the terms of service in effect on Bitfinex. U.S. persons are not permitted to use Bitfinex or any of its services.

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