Expanding its footprint in Latin America, leading digital asset trading platform Bitfinex announced the rollout of a peer-to-peer platform for crypto users in Venezuela, Columbia, and Argentina.
To be called ‘Bitfinex P2P’, the new platform will allow crypto users in these three nations to directly purchase and sell Bitcoin (BTC) and Ether (ETH). The other tokens that they will be able to access on Bitfinex P2P are Tether Gold (XAUt), USDt, and EURt. With its new platform, Bitfinex aims to drive financial empowerment and inclusion in the Latin American region.
If you are wondering about how to make $100 a day with cryptocurrency, Bitfinex P2P can be a great option as one can even swap tokens on the platform.
In a release issued by the company on June 27, 2023, Bitfinex CTO Paolo Ardoino described the new launch as a new platform as a marketplace where crypto users can enjoy P2P trading with convenience as per their preferences and needs. He also said that Bitfinex was keen on leveraging the “transformative power” of digital assets like Bitcoin and was working towards ramping up access to innovative financial technologies on a global level.
Bitfinex’s latest P2P offering is likely to receive a warm welcome from crypto users in the Latin American region. The launch of Bitfinex P2P comes at a time when two P2P marketplaces – Paxful and LocalBitcoins – recently shut operations in the region. Hence, it has ample room to grow and carve a niche for itself.
Bitfinex P2P marks yet another step in Bitfinex’s larger plans for the Latin American region. Earlier in May this year, it also invested in OrionX, a Chilean crypto bank.
What is Bitfinex
Launched in 2012, Bitfinex is among the most popular cryptocurrency exchanges in the world today. A dynamic coin tracker, multiple cryptocurrencies to explore, a high level of liquidity, and a user-friendly interface are some of the key USPs of this DEX. It can offer crypto users new insights like what is the best time of day to buy cryptocurrency and information about new crypto coins to help them make well-informed decisions.
Bitfinex ticks all the right boxes if you sit down to compare it to other multi-currency exchanges. A notable factor about the platform is that you can make payments in US Dollars and the Euro. These payments will be processed via bank wire transfer. Headquartered in Hong Kong, Bitfinex is available in several countries. In 2017, it shut down operations in the US due to alleged regulatory uncertainty. Though crypto users in the US can access the Bitfinex website they cannot trade or use the portal. With its coin tracker, you can keep an eye on how various cryptocurrencies are moving in the market.
Talking about deposits on Bitfinex, deposits of any cryptocurrency are free until their value doesn’t exceed $1,000. Smaller deposits receive a small fee that varies with different cryptocurrencies. Bitfinex has a competitive system of charges. For instance, if you are trading on the platform you will have to pay a buyer’s fee and a seller’s fee of 0.2% and 0.1%, respectively. The seller’s fee is waived for traders with trade volumes exceeding $30,000,000 in a month. They also have to pay a discounted buyer’s fee of 0.1%. Plus, the platform will deduct a small percentage of all cryptocurrency withdrawals, depending on the currency in which they are being withdrawn.
