Bitfinex Up for a System Update

Bitfinex Up for a System Update.

  • One of the biggest and most advanced Digital currency exchanges Bitfinex is about to perform a system update.
  • The upgrading process of the system is estimated to go from about 3-7 hours.
  • This simply means that during the updating period users will not be able to perform any sort of trading activity on the platform.

Bitfinex, one of the largest names in cryptocurrency exchange has announced that they will be upgrading their frameworks’ systems which will occur on November 28, 2019.

Through this upgrade, the company aspires to achieve its aim of boosting the stability and scalability of its iFinex framework.

According to the official announcement made on the website of Bitfinex, upgrading of the system is scheduled to be started at 10:30 A.M. (UTC) on November 28, 2019.

The upgrading process is estimated to be completed in about 3-7 hours and during this time all the services provided by the platform will be disabled.

This simply means that during the updating period users will not be able to perform any sort of trading activity on the platform.

It is advised for the users of Bitfinex to set their affairs in order prior to the time of updating.

Effects of upgrade on users accounts

There will be no immediate effect on the user’s accounts. The funds stored in the accounts of users will remain safe and will be accessible after the upgrading process is completed. During the time of upgrade, no orders will be accepted by the platform, they all will be kept on hold and will be accepted only after the process of upgrading is completed.

Though users will be at risk if there are significant dips in the market during the period of upgrading, so users are advised to check the market’s condition and make appropriate decisions regarding their assets.

Download our App for getting faster updates at your fingertips.

Anurag Agarwal
Anurag Agarwal is a writer for Thecoinrepublic. He is pursuant of B.tech in biotechnology from M.I.E.T Meerut, who's passion is to read and express through the medium of words. He is contributing the regular in-depth analysis of News and updates.

Similar Articles

Comments

LEAVE A REPLY

Please enter your comment!
Please enter your name here

We Recommend

Top Rated Trading Platforms

Top Rated Cryptocurrency Exchange

Partners

Most Popular

XRP’s Bearish Trend Proves Why It is One of the Preferred Cryptocurrencies

Popular altcoins such as Ethereum, XRP, Cardano, Chainlink, and Dogecoin observed their trading price soaring since the start of the month. XRP’s price...

NEM (XEM) Gaining Momentum, Bulls Set to Enter the Market

NEM Group recently announced the latest schedule for the launch of the mainnet Symbol on December 17, 2020EM noted the growth of over 56...

LISK [LSK] Anticipates Price Rise as Ascending Triangle Asserts Supremacy

The price volatility is re-entering in the cryptocurrency market in the past few weeks. Lisk is one such Low cap altcoin presently ranked at 60th...