Bitfinex Has Now Supported Margin Trading For ALG/USD And ALG/USDt

Steve Anderrson
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic
  • Bitfinex has recently announced that they are now adding the Algorand pairs ALG/USD and ALG/USDt to the list.
  • Bitfinex has leveraged margin trading on offer for its users that is done through a peer to peer funding market system.
  • Bitfinex is available in many languages such as English, Russian and Chinese and has served in 52 countries.

Bitfinex has recently announced that they are now adding the Algorand pairs ALG/USD and ALG/USDt to the list of all the pairs available for margin trading.

Headquartered in Hong Kong, Bitfinex is a spot trading platform that is packed with features and lets it’s users trade all the major digital assets, and cryptocurrencies like Bitcoin, litecoin, Ethereum, and Ripple amongst many others available on its Platform.

The Platform has leveraged margin trading on offer for its users that is done through a peer to peer funding market system. This let’s all it’s users to trade securely with leverage as high as 3.3x.

The peer to peer exchange was found in the year 2012 December, and it had actually initially started as a P2P margin lending platform that only supported Bitcoin. The Platform eventually added support for more cryptos too.

The Platform is available in many languages such as English, Russian and Chinese and has served in 52 countries. It also accepts Fiat currencies like the U.S. Dollar, Euros, Japanese Yen, and Great British Pounds.

From the morning of the third of march and the maximum leverage of 2x with which these Algorand pairs can be traded with initial equity of 50 percent and also a maintenance margin of 25 percent.

Algorand is a cryptocurrency, and in it, the users are able to create ALGO by the process of mining. And the latest price of Algorand is $0.322437, which is down by 6.36 percent over the past 24 hours.

The Margin trading offers a higher potential for greater profits than the traditional trading because by making the most of margin trading, the trader can easily borrow funds to increase their leverage while trading.

But don’t get fooled by the potential benefits of marginal trading as with high returns comes higher risks too, in particular with the high volatility of digital assets.

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