Bitfinex, the online cryptocurrency exchange and trading platform, announced that BTC:EUR is now a live trading pair on their website.
Bitfinex the worlds leading cryptocurrency exchange announced today that they will begin trading BTC:EUR, a move that has been widely welcomed after the site previously only supported the US dollar. The exchange also offers margin trading for those with more than a hobbyist attitude towards cryptocurrency trading.
We are pleased to announce trading is now live on our first Euro pair, BTC:EUR https://t.co/Y6sW7pRmEl
— Bitfinex (@bitfinex) November 22, 2017
Big News but Little Fanfare
Other than the tweet above, there has been very little fanfare of the new trading pair introduction. Although Bitfinex’s website itself has made no mention of the addition, it has come to light on Reddit that the minimum deposit for Euros is actually 10,000€, with a 0.100% fee on transactions. The exchange and trading platform also announced an introductory discount fee of 15%.
BTC/EUR will have an introductory fee discount of 15% – Happy trading.
— Bitfinex (@bitfinex) November 22, 2017
GDAX already has EUR, GBP and US dollar pairs for Bitcoin, so Bitfinex shall make a welcome addition for many traders. The Euro Bitcoin price is currently at 7045€, which converts to $8312 leaving quite a margin for arbitrage, however acceptance of trading certain pairs is limited to certain regions but the savvy trader could perhaps find profit in such a EUR/USD shortfall in Bitcoin’s price.
Are you a Bitfinex user? Is this a welcome move? Let us know what you think in the comments below.
Images courtesy of Bitfinex, Shutterstock
