Dear Bitfinex Customers
The year that has just started will be a crucial one for Bitcoin and all the other cryptocurrencies.
Trading platforms are centralized institutions and need to comply with different countries' regulations if they want to survive and thrive.
We at Bitfinex decided a long time ago to go for this path, to be fully complaint and to try our best to guarantee the assets of you all. Lawyers are expensive, especially good ones. Also in the last quarter we experienced exponential growth, with the number of both registered and active customers increasing 5 folds.
This of course requires more infrastructure, from a customer support, security, networking, server, etc. point of view.
All this comes of course at an additional cost.
We decided therefore to review our fee ledger as follows:
1) from 0 to 500 BTC : 0.15%
2) from 500 to 2,000 BTC : 0.14%
3) from 2,000 to 5,000 BTC : 0.13%
4) from 5000 to 15000 BTC : 0.12%
5) from 15,000 to 25,000 BTC : 0.11%
6) over 25,000 BTC : 0.10%
Numbers are applied on BTC traded in the last 30 days.
Fees for trading Litecoins remain unchanged (0.15%) and the same thing
applies to trades over Bitstamp ( 0.35% ) .
Please notice that we have always been and we remain the best offer in the market, not only for our unique features, but also for our fee level.
No other platform is currently offering our services anywhere close to our
fees.
Some of our competitors allowed free trades in the past ( even though this
was only possible for the BTC/CNY pair) but are now up to a much higher fee
level than ours.
This change will be effective starting from friday the 10th of January at
00:00 GMT.
Last but not least we will also introduce a 1% fee on withdrawals that
require a fast execution (within 24 hrs).
All the others wires will take between 3 and 5 working days and will only
be subject to the current fees ( 10 usd per wire).
Certain of your comprehension I wish you all a happy and prosperous new
year.
Best regards
Raphael
Bitfinex Team