Bitfinex Will Start Charging Fees for Frequent Withdrawals of Fiat Currency


Bitfinex Crypto Exchange users, who frequently and in large volumes withdraw fiat funds from the platform, will be charged a fee of 3%.

The exchange statement says that the new rules will affect those who withdraw funds more than twice a month. Also, this commission will be charged to users who, during a thirty-day period, withdraw an amount that exceeds $1 million in total.

“Regular withdrawals, currently representing the requests of more than 99% of our customers, are unaffected by this change,” the company believes.

Also, representatives of Bitfinex noted that during October 2018 alone, users of the trading floor had withdrawn fiat funds worth more than $1 billion. This fact, according to them, makes this exchange “the primary fiat gateway in the crypto ecosystem.”

In addition, the company stressed that Bitfinex banking services “remain stable.” Also, representatives of the exchange recognized that the platform undergoes “coordinated attacks from powerful forces attempting to harm global cryptocurrency markets” for a long time.

Among other things, Bitfinex has published a statement regarding Bitcoin Cash (BCH) hard fork scheduled for November 15.

It states that the exchange “fully supports” the update of the BCH protocol. Also, representatives of Bitfinex note that it is still difficult to say exactly which chain – Bitcoin ABC or Bitcoin SV – will get a larger hashrate.

Thus, Bitfinex traditionally adheres to neutrality and, in all likelihood, will add to the listing and will make available to users, the coins formed after the likely separation of the chain. An additional statement on this issue will be published on November 16.

Recently the possible support of a Bitcoin Cash fork became known from the Poloniex crypto exchange.

However, such large platforms as Coinbase, OKEx and Binance expressed support for the implementation of traditional Bitcoin ABC software.