Exchanges

Bitfinex adds new ‘Increase Position’ feature

Digital asset exchange Bitfinex has added a new feature that allows users to maintain their exposure to an asset while adding liquidity to their portfolio.

The “Increase Position” feature complements the existing Position Claim which permits users to settle a leveraged position using funds in their margin wallet.

“Increase Position is the perfect feature for sophisticated traders that want to maximise their portfolio management strategies,” said Paolo Ardoino, CTO at Bitfinex. “Increase Position enables users to enter or extend margin positions and obtain access to a variety of borrowing options.”

The new feature is also an underlying feature used by Bitfinex Borrow, a peer-to-peer lending platform that launched in September.

It is also essentially a transfer between wallets / positions, which means it reduces the chance of operational errors and the accumulation of trading fees.

Bitfinex’s decision to launch the new feature comes during a time when interest in cryptocurrency is reaching new highs with Bitcoin trading narrowly below its all-time high of $20,000.

Commenting on the market conditions on Tuesday, Ardoino added: “As volumes on Bitfinex exceed $1 billion, the rally in cryptocurrencies appears poised to continue. Bitcoin’s path towards acceptance as an established asset class is gathering momentum.”

For more news, guides and cryptocurrency analysis, click here.

Oliver Knight

Londoner ‘Ollie’ graduated from Birmingham City University with a journalism degree in 2016. He combines his writing with his love of crypto and blockchain here at Coin Rivet, saying “It disrupts well-established institutions (banks) while giving an avenue to the less fortunate to achieve financial freedom.” Like all true Londoners, his pet hate is… “People standing on the left-hand side of the escalators on the Tube!”.

Disqus Comments Loading...

Recent Posts

Here is why Bitcoin is still a lucrative investment in 2024

Those who enter the market at this time may be surprised to hear that Bitcoin…

4 hours ago

Zircuit Launches ZRC Token: Pioneering the Next Era of Decentralized Finance

George Town, Grand Cayman, 22nd November 2024, Chainwire

12 hours ago

The surge of Bitcoin NFTs: Everything you should know about Bitcoin ordinals

From digital art to real-estate assets, NFTs have become a significant attraction for investors who…

1 month ago

MEXC Partners with Aptos to Launch Events Featuring a 1.5 Million USDT Prize Pool

Singapore, Singapore, 21st October 2024, Chainwire

1 month ago