Bitfinex Introduces BTC/EUR Pair with Rumours of Reopening USD Wires
- Bitfinex stopped USD wire transfers in April, and if it reopens wire transfers again, it will be a huge move.
A day after news of the Tether hack broke, Bitfinex officially introduced euro trading on their platform. The firm also hinted at reintroduction of USD wire transfers with a couple of tweets from its official handle.
We are pleased to announce trading is now live on our first Euro pair, BTC:EUR https://t.co/Y6sW7pRmEl
— Bitfinex (@bitfinex) November 22, 2017
Bitfinex is solvent and both fiat and crypto withdrawals are functioning as normal. We are seeing increasing FUD which we believe is a co-ordinated attack to create a market disrupting event 1/2
— Bitfinex (@bitfinex) November 19, 2017
Always ask for evidence before drawing conclusions. We are grateful to those who have defended against these reckless allegations. A formal announcement is forthcoming. 2/2
— Bitfinex (@bitfinex) November 19, 2017
With 11 percent of the market volume of Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term trading, Bitfinex is the largest cryptocurrency exchange today. And with the introduction of euro trading, it is making an entry into the quiet European market. So far, Kraken and Bitstamp are the two biggest exchanges offering a euro trading option. The volume of trades is not significant compared to other markets.
It is not clear if Bitfinex is going to introduce euro trading from other Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term as well, but with this move it is going to receive fiat money directly from users. If the hints and rumors of the reintroduction are true, then the company is set to make a big move in the industry.
According to a report by Cryptovest, a third party organization named Crypto.SP.ZO.O will handle Bitfinex’s account.
Bitfinex has its fair share of controversies too. In 2016, the platform endured the second biggest hack in the cryptocurrency industry and lost $72 million worth of customer’s money. It then introduced the BFX token to compensate customers.
Another big blow to the business of this unregulated exchange came in April 2017, when the platform withdrew its support of direct USD wire transfers due to the strictness of rules by American banking giant Wells Fargo.
And with the recent attack on the platform, the name Bitfinex came up due to links with the operations of both platforms. In the recent Paradise Papers leak, it was also revealed that Bitfinex CSO Philip Potter is listed as the director of Tether Holdings Limited.
Whatever the controversies may be, Bitfinex is holding a large chunk of the digital currency market, and with moves like the implementation of euro trading, it is making its hold on the market more firm.
A day after news of the Tether hack broke, Bitfinex officially introduced euro trading on their platform. The firm also hinted at reintroduction of USD wire transfers with a couple of tweets from its official handle.
We are pleased to announce trading is now live on our first Euro pair, BTC:EUR https://t.co/Y6sW7pRmEl
— Bitfinex (@bitfinex) November 22, 2017
Bitfinex is solvent and both fiat and crypto withdrawals are functioning as normal. We are seeing increasing FUD which we believe is a co-ordinated attack to create a market disrupting event 1/2
— Bitfinex (@bitfinex) November 19, 2017
Always ask for evidence before drawing conclusions. We are grateful to those who have defended against these reckless allegations. A formal announcement is forthcoming. 2/2
— Bitfinex (@bitfinex) November 19, 2017
With 11 percent of the market volume of Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term trading, Bitfinex is the largest cryptocurrency exchange today. And with the introduction of euro trading, it is making an entry into the quiet European market. So far, Kraken and Bitstamp are the two biggest exchanges offering a euro trading option. The volume of trades is not significant compared to other markets.
It is not clear if Bitfinex is going to introduce euro trading from other Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term as well, but with this move it is going to receive fiat money directly from users. If the hints and rumors of the reintroduction are true, then the company is set to make a big move in the industry.
According to a report by Cryptovest, a third party organization named Crypto.SP.ZO.O will handle Bitfinex’s account.
Bitfinex has its fair share of controversies too. In 2016, the platform endured the second biggest hack in the cryptocurrency industry and lost $72 million worth of customer’s money. It then introduced the BFX token to compensate customers.
Another big blow to the business of this unregulated exchange came in April 2017, when the platform withdrew its support of direct USD wire transfers due to the strictness of rules by American banking giant Wells Fargo.
And with the recent attack on the platform, the name Bitfinex came up due to links with the operations of both platforms. In the recent Paradise Papers leak, it was also revealed that Bitfinex CSO Philip Potter is listed as the director of Tether Holdings Limited.
Whatever the controversies may be, Bitfinex is holding a large chunk of the digital currency market, and with moves like the implementation of euro trading, it is making its hold on the market more firm.