back Back

Bitfinex increases maximum leverage for BTC/USD pair to 10x

By Edil Corneille

February 18, 2021

  • Bitfinex
  • Hong Kong

BitfinexBitfinex, a digital token trading platform, has increased the maximum leverage for margin trading on the bitcoin, US Dollar pair to improve the user experience of the exchange’s growing customer base.

The maximum leverage on the BTC/USD pair has been increased from 5x to 10x on 17/02/21 at 5:00 PM UTC.

In addition, the maximum borrowing amount on Bitfinex Borrow has been increased from 80% to 90% of collateral for USD loans using BTC as collateral and BTC loans using USD as collateral.

“Increasing the maximum leverage for margin trading on BTC/USD will help facilitate more advanced trading strategies and the management of risk,” said Paolo Ardoino, CTO at Bitfinex. “Meanwhile, the increase in the maximum borrowing on collateral for Bitfinex Borrow will provide greater flexibility and allow our users to do more with their digital tokens.”

Margin trading enables traders to borrow funds to increase leverage, offering the potential for greater profits than in traditional trading. Still, the potential for greater rewards also comes with higher levels of risk, particularly given the volatility of digital assets. Eligible Bitfinex users can obtain financing for margin trading through the peer-to-peer (P2P) financing marketplace available through Bitfinex.

Bitfinex Borrow is a peer-to-peer (P2P) digital token loan portal that allows users to borrow funds from other users by using their cryptocurrency or fiat assets as collateral.

Recently this month, Bitfinex added Tezos (XTZ) as collateral on Bitfinex Borrow. Customers will be able to obtain loans of up to 70% of the value of their XTZ holdings in US Dollars. Borrowers can select XTZ from the list of currencies they wish to use as collateral before depositing sufficient collateral into their Margin wallet.

Previous Article

February 18, 2021

HSBC completes its Islamic trade facility in MENAT with QIB

Read More
Next Article

February 18, 2021

Jordan International Bank selects BEP Systems for new mortgage service

Read More

IBSi Daily News Analysis

Cybersecurity, financial services

May 17, 2024


Most of KSA organizations uses AI in their cybersecurity strategies, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

May 08, 2024

Revolut debuts crypto trading platform for professional traders

Read More

April 24, 2024

Network International receives SVF licence from UAE Central Bank

Read More

April 22, 2024

Midas raises $45m to roll out crypto, mutual fund & savings account products

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
Get your copy now! IBSi Sales League Table 2023