Bitfinex recently completed the support for Bitcoin Cash Hard Fork. Successfully, all the BCH balances on the Bitfinex have been credited both as Bitcoin Cash ABC (BCHABC) and Bitcoin Cash Node (BCHN).
Also, trading is now live for BCHABC/USD and Bitcoin Cash Node BCHN/USD pairs.
Paolo Ardoino tweeted: “All went smoothly on Finex side. Can I have as a gift the promise that there won’t be another BCH for the next 5 years at least?”
An outright opinion was that Paolo was expecting too much out of people. However, the users feel that there are going to be lot of harsh wars in the BCH community. It is practical to think that all of these will continue until the whole world has adopted to one chain.
BCH haters feel that it will not there be around in another 5 years and they pointed to BCH being a “hygienic” paper.
Sydney Ifergan, the crypto expert tweeted: “Fights like those happening in Bitcoin Cash (BCH) are never going to end. It is Tether USDT Paolo Ardoino’s wishful thinking to not have another BCH.”
Bitfinex Borrow is a peer-to-peer platform as the crypto loans have arrived. It is possible to get a loan in Tether (USDt) or the US Dollars (USD).
Bitfinex are now progressing from P2P funding to fully P2P loans.
Paolo previously clarified that Bitfinex are not acting like an intermediary like several others do. Borrowers are engaging directly with several other Bitfinex users and lenders in an open and transparent market. It is possible to withdraw the borrowed funds off the platform.
By doing this, Bitfinex are facilitating daily volumes, which are hundreds of millions USD equivalent to facilitate liquidity for margin traders.
Bitfinex expressed that they have facilitated Margin trading for $YFI pairs on Bitfinex. Yearn Finance Pairs (YFI/USD), (YFI/USDt) can now be traded with a maximum leverage of 3.3x with an initial equity of 30% along with a maintenance margin of 15%.
Paolo stated that they have facilitated this move because traders have asked for this. He was happy about being able to have delivered it.
For those who are new to Margin Trading, Margin trading makes it possible for traders to borrow funds to increase their leverage, thus offering the potential for increased profits than in traditional trading. Therefore, the potential for greater rewards now come with higher levels of risk particularly provided the volatility of the digital assets.
A finance graduate, Maheen Hernandez has been drawn to cryptocurrencies ever since Bitcoin first emerged in 2009. Nearly a decade later, Maheen is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies. Appreciate the work? Send a tip to: 0x75395Ea9a42d2742E8d0C798068DeF3590C5Faa5
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