Bitfinex removes $10,000 minimum deposit threshold

Cryptocurrency exchange Bitfinex has removed the $10,000 deposit requirement that used to be in place for traders signing up to the platform.

The decision was confirmed via an official blog post, which stated that the update comes in response to “overwhelming demand over the past six months”.

Previously, in order to trade on Bitfinex, users were required to deposit $10,000 or the equivalent in cryptocurrencies.

Having lifted the minimum equity threshold on Tuesday, the door is now open to retail investors who may not have been able to access the exchange before.

“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,” said Jean-Louis van der Velde, Bitfinex CEO.

Bitfinex offers a wide range of trading pairs as well as traditional margin and spot exchange markets.

In the past few months, the exchange has released a plethora of updates, listing a number of altcoins like Dragonchain and launching the mobile app in February.