Leveraged bitcoin trading platform, Bitfinex has announced that they have added litecoin trading on their system. Account holders have access to both LTC/USD and LTC/BTC trading. In its initial launch, only unleveraged long positions will be available. This contrast with bitcoin trading which is available to short and with leverage.
At the time of announcing its intention to launch litecoin trading, Bitfinex stated:
In the last days we have seen a proliferation of new cryptocurrencies ( Feathercoin, Chinacoin, Royalcoin, Yacoin ect..) that are being brought in the market, pumped up and then forgotten quickly by the community.
On the other hand we think Litecoin is a case on its own, with several characteristics and features that make it pretty innovative (faster confirmation, no Asic mining etc.).
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Due to its long existence ( a couple of year is a pretty long period of time in the cryptocurrency world ) and an ever-growing merchant adoption, we believe Litecoin is here to stay.
I’m therefore glad to announce that starting from next friday the 24th of May Bitfinex will allow Litecoin trading on its platform. It will be possible to buy Litecoins for both Bitcoins or US dollars and of course viceversa.
On the first stage we will only allow typical exchange operations, that is not short them or take a leveraged position. Once the order book will build up a little (hoping this will take little time), we plan to implement also the above mentioned functions.
It is our belief that offering our customers a diversified choice will allow them to increase their profit capabilities.