bitfinex.com Margin lending.

[biggbox]

Hi. Can anyone give a simple explanation how bitfinex.com margin lending works? The interface is mind dazzling. Thanks

[Quickseller]

You lend your BTC and/or fiat then such money is used to either sell BTC short of buy BTC that they otherwise would not be able to purchase. In the event that the borrower's account has too little equity then bitfinex will force liquidate the position at the best available price. When the loan is repaid, you will receive the principle plus interest back, with bitfinex keeping a certain percentage of the interest.

[amacar2]

Did anybody have given or taken loan there? I am on bitfinex but i was not aware of that function there. It will be good to see some review before lending there.

[biggbox]

You lend your BTC and/or fiat then such money is used to either sell BTC short of buy BTC that they otherwise would not be able to purchase. In the event that the borrower's account has too little equity then bitfinex will force liquidate the position at the best available price. When the loan is repaid, you will receive the principle plus interest back, with bitfinex keeping a certain percentage of the interest.

Thanks @Quickseller. Yes. I roughly understand the concepts. But I am overwhelmed by the user interface. If possible and if that is not too much to ask for, are you able to give a brief overview on its interface and its feature?  Thanks! [Screenshot attached below]


What is FRR
What does Hidden means?
What is "count"?

[Quickseller]

"FRR" is "Flash Return Rate" and is the rate you should expect to receive on larger loans.

"Hidden" means that your loan offer/request is not shown in the order book.

"Count" is the number of BTC that is being offered/requested (or the number of US$ if you are looking at that order book)

[biggbox]

"FRR" is "Flash Return Rate" and is the rate you should expect to receive on larger loans.

"Hidden" means that your loan offer/request is not shown in the order book.

"Count" is the number of BTC that is being offered/requested (or the number of US$ if you are looking at that order book)

@Quickseller

Thanks. I intend to try out their margin lending. Are there any limitations such as submissions of IDs for transacting a certain amount? I don't intend to touch fiat at the moment, but pure crypto.

[Quickseller]

"FRR" is "Flash Return Rate" and is the rate you should expect to receive on larger loans.

"Hidden" means that your loan offer/request is not shown in the order book.

"Count" is the number of BTC that is being offered/requested (or the number of US$ if you are looking at that order book)

@Quickseller

Thanks. I intend to try out their margin lending. Are there any limitations such as submissions of IDs for transacting a certain amount? I don't intend to touch fiat at the moment, but pure crypto.

The only limits that I am aware of is that you cannot withdraw more then 200BTC in a 24 hour period. However any withdrawal requests above this threshold will be processed, but you just need to wait a day or so for an admin to review the request to make sure your account actually has the BTC that you are attempting to withdraw (I think this is what they are checking for).

[biggbox]

"FRR" is "Flash Return Rate" and is the rate you should expect to receive on larger loans.

"Hidden" means that your loan offer/request is not shown in the order book.

"Count" is the number of BTC that is being offered/requested (or the number of US$ if you are looking at that order book)

@Quickseller

Thanks. I intend to try out their margin lending. Are there any limitations such as submissions of IDs for transacting a certain amount? I don't intend to touch fiat at the moment, but pure crypto.

The only limits that I am aware of is that you cannot withdraw more then 200BTC in a 24 hour period. However any withdrawal requests above this threshold will be processed, but you just need to wait a day or so for an admin to review the request to make sure your account actually has the BTC that you are attempting to withdraw (I think this is what they are checking for).

Thank you @Quickseller for the quick responses. Will explore bitfinex further. Looking at current hashing difficulty, it is inevitable Bitcoin users will find other ways to grow their coins.