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Bitfinex announces removal of current high frequency/size fiat withdrawal fees

Priya

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Bitfinex announces removal of current high frequency/size fiat withdrawal fees
Source: Unsplash

Bitfinex, one of the most controversial cryptocurrency exchanges, announced that it would be removing “current high frequency/size fiat withdrawal fees on Bitfinex”. The exchange stated that the move of providing “low-cost fiat withdrawals” was made solely for its “loyal users”. The exchange also stated that the new numbers will be updated tomorrow.

The platform stated in a blog post,

“Standard fiat withdrawal fees will once again apply to all verified Bitfinex users, totaling 0.1% of the amount withdrawn ($60.00 minimum). We are thankful for the support that many of our traders have shown us, and we are proud to once again be able to provide our loyal users with low-cost fiat withdrawals.”

ibankbitcoins, a Twitter user said,

“So one of LEO’s benefit of having better withdraw fees is now nullified, great work tho because 3% is too high.”

Keeping this aside, the exchange also made another announcement today regarding its venture into the Initial Exchange Offerings [IEO] side of the market. Notably, Ethfinex, Bitfinex’s sister exchange that focuses on ERC20 tokens, will also be taking its first step into this along with Bitfinex. The exchange had stated on Twitter,

“After much development to ensure a user-optimised experience, we are proud to unveil the latest product in our portfolio, Tokinex, our new Initial Exchange Offering platform.”

The new venture would be called Tokinex, which would be launched on 23rd May, with the customer verification process handled by BlockPass app. However, United States customers and other customers from its restricted jurisdictions list will not be allowed to participate in the sales taking place on this platform. The first token sale was reported to take place on the 13th of the coming month.

The blog post stated,

“What it means to be an exchange has evolved to become an entire ecosystem, not just limited to the remit of trading digital assets. We are proud to finally launch Tokinex and bring the opportunity for participation in quality token sales in a fair environment.”





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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.

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Coinbase, HitBTC, WazirX report Cloudflare outage issues

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Source: Unsplash

The world’s leading cryptocurrency exchange, Coinbase, reported experiencing intermittent access issues which was traced to a Cloudflare outage. In a blog post, Cloudflare reported that it observed network related issues on Monday morning.

The support team revealed that Cloudflare identified a potential “route leak” which affected some of its IP ranges, shortly after the news broke out on mainstream media. The issue was solved in less than two hours after the network responsible for the route leak was fixed, the official blog post said.

Around the same time, Indian cryptocurrency exchange, WazirX, also reported access issues across its website and apps. The affected companies also included HitBTC, the Hong Kong-based exchange which also reported difficulties in their web interface.

HitBTC noted,

“Half the internet is experiencing the same issues since the cloudflare and many internet routes appear to be down.”

After resolving the issue, Cloudflare, which is a US-based content delivery network service, stated,

“Traffic levels have returned to normal now that the route leak has been fixed. We are now marking this incident as resolved.”

Most of the affected sites showed an error which said, “Connection timed out.” Cloudflare has not revealed the name of the network involved as of yet. It is also unclear if all the affected websites had started operating normally. A myriad of websites including Overcast, Discord, WP Engine,  Sonassi, Feedly, Crunchyroll among many others that completely rely on web hosting or who partner with Cloudflare for their CDN service, were also affected.

The affected areas can be seen in the picture below.

Source: Cloudflare





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