MoneyNews

Bitfinex launched derivatives based on Bitcoin and Ethereum with leverage up to 100x

UNITED STATES, WASHINGTON (OBSERVATORY) — The Bitfinex cryptocurrency exchange has added support for two derivatives products based on Bitcoin and Ethereum.

The screenshot below shows that the Derivatives tab has appeared in the exchange interface:

File Photo

In this section there are BTCF0 and ETHF0 instruments available for trading with stabletcoin USDt0. The maximum leverage is limited to 100x.

The new product is a perpetual contract, which in many ways resembles the products of the popular BitMEX exchange. Note that trading in BTCF0 and ETHF0 is not available to users from the USA, Canada and Switzerland.

The Bitfinex exchange also announced the opening of a new division – iFinex Financial Technologies Limited with the aim of expanding trading opportunities for the exchange’s customers, improving and expanding its product line.

“We welcome the opportunity to create new, previously unavailable products on our new platform. This platform expands our ever-growing portfolio and strengthens Bitfinex’s leadership in innovation , ”said Paolo Ardoino, Technical Director of the exchange.

The upcoming launch of derivatives became known back in June. Then Ardoino noted that at first, new instruments will use isolated margin, which will allow better control of leverage and the liquidation price. It also became known that instruments with high leverage will be used separately from the main margin market, limited to 3.3x.

Recall, shortly before the launch of derivatives, the Bitfinex exchange carried out maintenance aimed at “increasing the stability and scalability of the iFinex infrastructure and new trading products.”

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