[OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading

[Arthur Randolph]

I am pretty sure it is:

Exchange = 2
Margin = 1

Uh. Who is going to pay the fees for the transaction that's going to cancel your position?

[whatthesith]

How do we know that this company isn't using fractional reserve?

They could publish or disclose audits. So far they didn't, just like nearly any other company out there dealing with Bitcoins/fiat. If you require more info, just contact them, don't ask on bitcointalk.

Actually, they will soon need to submit a "Annual Return" prepared by registered accountant to "Companies Registry of HKSAR" (Law required registered limited company to file a "Annual Return" within 42 days after the first anniversary of the date of its incorporation)


Personally, I trust Bitfinex for the way they response in this forum and the determination to provide a good Bitcoin trading platform with unique features.

However, I think Bitfinex should post any new announcements in the website also, not just posting on this forum. I guess not every customers are keeping watching this forum thread. By posting new announcements in the website, this gives confidence to potential customers. They will know Bitfinex is up and running normally, and it is not a scam. This helps the growth of the Bitfinex.

[MegaKill]

For margin trading, is "open+close" a position consider 1 single transaction or 2 transactions? for example, I open margin buy then close the position.

I know that for exchange, buy is 1 transaction, sell is 1 transaction, so commission is charge on 2 transactions subject to the trading fee.

Thanks for answering, I apologize if this has been asked 1000000x before.

Hi,
you pay the trading fee each time you buy and sell. It does not matter if you buy or sell using own money on exchange or margin when it comes to those trading fees. Each buy and sell is a "transaction".

You buy 10 BTC on margin and open a position then you pay trading fees fees for 10 BTC. If the market goes against you and you say "What the hell, I'll buy a couple more" then you pay trading fees again.

When you sell those BTC to close your position then you pay trading fees on the sale. You'll be paying interest on the USD loan to back the position along the way.

what you say is, when i open margin buy i pay a fee, when i close ( or open margin sell to close) position there's another fee charged? Same like when trading in exchange? Am i get it right?

[Timetwister]

How do we know that this company isn't using fractional reserve?

They could publish or disclose audits. So far they didn't, just like nearly any other company out there dealing with Bitcoins/fiat. If you require more info, just contact them, don't ask on bitcointalk.

Actually, they will soon need to submit a "Annual Return" prepared by registered accountant to "Companies Registry of HKSAR" (Law required registered limited company to file a "Annual Return" within 42 days after the first anniversary of the date of its incorporation)


Personally, I trust Bitfinex for the way they response in this forum and the determination to provide a good Bitcoin trading platform with unique features.

However, I think Bitfinex should post any new announcements in the website also, not just posting on this forum. I guess not every customers are keeping watching this forum thread. By posting new announcements in the website, this gives confidence to potential customers. They will know Bitfinex is up and running normally, and it is not a scam. This helps the growth of the Bitfinex.

That kind of information should be more accessible is they want to attract more customers.

[Sukrim]

It is easily accessible online from the authorities in HongKong for ~1 USD that you can pay via credit card even. I am actually quite amazed how smooth everything went there...

[TwinWinNerD]

Very nice! They added a new feature, where you can see what range of lending days, the offered loan has:

USD Liquidity offers
   Swap time range (days)    Rate (% per day)    Amount    Offer count
   10    0.3497%    1349.35    2
   2 - 10    0.35%    84392.79    3
   3 - 4    0.37%    6158.04    2

[chezz]

I wish there was more volume :\ love the ability of margin trading though!

[MustMan]

Very nice! They added a new feature, where you can see what range of lending days, the offered loan has:

USD Liquidity offers
   Swap time range (days)    Rate (% per day)    Amount    Offer count
   10    0.3497%    1349.35    2
   2 - 10    0.35%    84392.79    3
   3 - 4    0.37%    6158.04    2

seems can't set the range of lending days like x - y , just the max days of lending.

don't know how to do it.

[MustMan]

Very nice! They added a new feature, where you can see what range of lending days, the offered loan has:

USD Liquidity offers
   Swap time range (days)    Rate (% per day)    Amount    Offer count
   10    0.3497%    1349.35    2
   2 - 10    0.35%    84392.79    3
   3 - 4    0.37%    6158.04    2

seems can't set the range of lending days like x - y , just the max days of lending.

don't know how to do it.

Got it ! when offer count >1, then range of lending days like x - y automatically being set.

[romantic1]

Hello,
My withdrawals #56158 and #55780 have not yet been processed. Please ! I need it asap ! I withdrawed many times at bitfinex before. It used to be very fast. ( If I withdraw at Sunday night, It often processed at Monday afternoon) Details:

USD    -x    WIRE    19 Jan (Sunday) 23:32    Processing NOT YET PROCESSED
USD    -x    WIRE    20 Jan (Monday) 22:43     Processing NOT YET PROCESSED

Now, It's Wednesday, none of them have been processed yet !
PS: You said "Express wire withdrawals: Processed within 1 business days after approval". I want "Express wire withdrawals" but I don't know how to.
Best regards,

[gog1]

I also request regular withdraw on Sunday and not yet processed - monitoring.

[gog1]

Hello,
My withdrawals #56158 and #55780 have not yet been processed. Please ! I need it asap ! I withdrawed many times at bitfinex before. It used to be very fast. ( If I withdraw at Sunday night, It often processed at Monday afternoon) Details:

USD    -x    WIRE    19 Jan (Sunday) 23:32    Processing NOT YET PROCESSED
USD    -x    WIRE    20 Jan (Monday) 22:43     Processing NOT YET PROCESSED

Now, It's Wednesday, none of them have been processed yet !
PS: You said "Express wire withdrawals: Processed within 1 business days after approval". I want "Express wire withdrawals" but I don't know how to.
Best regards,

There is a little checkbox when you are in the withdraw page for the express withdraw.

[MustMan]

Hello,
My withdrawals #56158 and #55780 have not yet been processed. Please ! I need it asap ! I withdrawed many times at bitfinex before. It used to be very fast. ( If I withdraw at Sunday night, It often processed at Monday afternoon) Details:

USD    -x    WIRE    19 Jan (Sunday) 23:32    Processing NOT YET PROCESSED
USD    -x    WIRE    20 Jan (Monday) 22:43     Processing NOT YET PROCESSED

Now, It's Wednesday, none of them have been processed yet !
PS: You said "Express wire withdrawals: Processed within 1 business days after approval". I want "Express wire withdrawals" but I don't know how to.
Best regards,

I suspect they used to be fast on withdrawal but now delay for regular withdrawal after charging with "Express wire withdrawals".

[Ente]

Oh my god! It's fast now! Blindingly fast! Liquidity swaps get matched instantly, I often don't even see them in the list, them being gone faster than I can refresh the page!
Awwww yeah! :-)

Ente

[chezz]

Did I hear correctly that qt trader is going to incorporate bitfinex?

[wilfried]

 https://www.bitfinex.com/pages/fees

isnt ist a bit confusing to state "for the traded pair" - you probably mean that for both of the trades of the pair the fee is 0,15%, but one
could understand it as "fee is only due for a pair, not per trade"?

Code:

0 or more traded in the last 30 days (for the traded pair) 0.15% 

[Ente]

https://www.bitfinex.com/pages/fees

isnt ist a bit confusing to state "for the traded pair" - you probably mean that for both of the trades of the pair the fee is 0,15%, but one
could understand it as "fee is only due for a pair, not per trade"?

Code:

0 or more traded in the last 30 days (for the traded pair) 0.15% 

"Traded pair" is, for example, "USD with BTC" or "LTC against USD".

Ente

[urwhatuknow]

https://www.bitfinex.com/pages/fees

isnt ist a bit confusing to state "for the traded pair" - you probably mean that for both of the trades of the pair the fee is 0,15%, but one
could understand it as "fee is only due for a pair, not per trade"?

Code:

0 or more traded in the last 30 days (for the traded pair) 0.15% 

it sounded pretty intuitive to us, but anyway feel free to come up with any suggestion that will make it "misunderstanding-proof" and we'll take it into consideration

thanks a lot and have a good day

Giancarlo
Bitfinex Team

[MegaKill]

is the bstp route got problem today? i think my order are not being filled there. anybody has this problem?

[thunderblt]

Hi Bitfinex Team,

Just wanted to know when the 4:1 leverage will be available, I had the option 1 month ago but now I can't see it.

Thanks