Crypto currency traders are getting more options as Bitfinex has announced the launch of litecoin trading. Bitfinex is a leveraged bitcoin trading platform that allows users to short trade and use margin for their positions. The platform is currently in its Beta form and has been adding features as it develops its user base and functionality.
Following positive comments from readers, we are currently conducting our own internal review of the platform which will be posted in a follow-up article. In our initial thoughts, for a beta product it does a lot. Interface has a ways to go, but functionality is there. Also, trades are filled quickly. You also got to like that they added in their tag line the quote “Nobody went broke taking profits.”
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Back to litecoin. At the time Bitfinex announced its intentions of launching the currency they stated that litecoin had showed “several characteristics and features that make it pretty innovative (faster confirmation, no Asic mining etc.). 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.”
Litecoins were officially launched last Thursday for trading of both LTCUSD and LTCBTC. Initial trading is only for long trades without margin.