According to a recent blog announcement, Bitfinex and Ethfinex will be unavailable for 7 hours, on January 7th, 2019, starting from 10:00 AM UTC.
Bitfinex is the fifth largest crypto exchange by adjusting volume, which is based in Hong Kong. It’s one of the few crypto platforms which allows trading with the U.S. dollar pairs.
As it states, the exchanges will be performing data migration from AWS to private, self-hosted servers, improving platform speed, performance, and security.
"Account holders will not be able to access their wallets, and all features across both platforms will be offline for the duration of the upgrade," the announcement states.
The main purpose of the upcoming shutdown is to improve trading speed & performance.
Earlier, Bitfinex quietly increased its minimum withdrawal fee from $20 to $60 due to the exchange's decision to change its offshore service provider.
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