Main page News, Fintech, Crypto Market, Cryptocurrency Exchanges, Cryptocurrency
Hot topic
Nov. 26, 2018
435 435

Cryptocurrency exchange Bitfinex has increased its minimum withdrawal fee from $20 to $60, according to The Block. At the time of writing, the exchange hasn’t made any official statement yet.

Bitfinex is the fifth largest crypto exchange by adjusted volume, which is based in Hong Kong. It’s one of the few crypto platforms which allows to trade with the U.S. dollar pairs.

Kasper Rasmussen, Head of Marketing at Bitfinex, wrote in an email that Bitfinex’s fee schedule “remains subject to change at any time and for a wide array of reasons.”

Bitfinex Triples Minimum Wire Fee

Thus, Bitfinex has become the most expensive crypto exchange in the field of withdrawal fee.

It's assumed that the increase in the minimum commission fee may be due to the exchange's decision to change its offshore service provider and a criminal investigation, initiated by the U.S. Department of Justice against stablecoin tether (USDT) and Bitfinex.

It also worth noting that earlier in November, Bitfinex reported it had processed about $1 billion in cash withdrawals alone in October.

Earlier, Bitfinex shifted its banking business to the Hong Kong-based Bank of Communications through a private account of Prosperity Revenue Merchandising Limited.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

Read also:
Please describe the error