Bitfinex is now open to every trader as the Hong Kong-based cryptocurrency exchange has removed its $10,000 minimum balance rule.

Citing a rising demand from retail traders who couldn’t trade on the platform due to the requirement, Bitfinex CEO Jean-Louis van der Velde said the platform is now ready for a “new wave of customer accounts,” according to a company Medium post.

“We simply could not ignore the increasing level of requests for access to trade on Bitfinex from a wider cohort than our traditional customer base,” van der Velde added, per the post. “For the last six months, we have been working hard to ready our platform for a new wave of customer accounts and are now in a position to open Bitfinex to a wider audience.”

The minimum threshold requirement was introduced in 2017 during Bitcoin’s bullish run as a measure to stymie the inflow of new sign ups. Last year, it announced an equity requirement in which traders were required to deposit $10,000 minimum in crypto or fiat before they could trade on the…

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Source: https://thebitcoinnews.com/bitfinex-scraps-its-10000-minimum-balance-rule/