Cryptocurrency exchange Bitfinex now allows users facilitating smaller transactions with the help of BIT Mode on Satoshi. According to a press release seen by iHodl, the exchange now supports SAT and BIT Mode (1BIT = 100 Satoshis = microbitcoin).
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Bitfinex CTO, Paolo Ardoino, said that with the new feature Bitfinex wanted to remember on the ethos from which bitcoin (EXANTE: Bitcoin) was originally invented.
"This will facilitate microtransactions in bitcoin, enabling users who may be dabbling with their first bitcoin purchases to further familiarize themselves with this amazing technology," he added.
To turn on the feature, users should: go into account settings > interface > layout before obtaining access to BITCOIN View Mode, which actives the following options: BTC, SAT (1/100M BTC), BIT (1/1M BTC).
Earlier in June, iHodl reported that Bitfinex, KuCoin and Kraken were considering establishing their presence in the India's cryptocurrency market. At least one of the exchanges have already been in acquisition talks with a local firm. It remains unclear if the new feature has anything to do with Bitfinex's expansion.
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