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Bitfinex outlines interest model for Bitfinex Borrow: pay only when funds are withdrawn
Bitfinex announced that with its Bitfinex Borrow service, variable-rate interest begins only when borrowed funds are withdrawn from the margin wallet, rather than when collateral is posted. This clarification highlights the timing difference between interest accrual for variable and fixed-rate loans on the platform.
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Bitfinex detailed how its Bitfinex Borrow service allows users to post collateral and review borrowing options, with variable-rate interest only beginning once funds are withdrawn from the margin wallet. This structure contrasts with fixed-rate loans, where interest starts accruing immediately after the loan is matched, regardless of whether funds are withdrawn.
The published information outlines Bitfinex Borrow’s procedures for collateral requirements, supported assets, and interest models, emphasizing that users are only charged variable-rate interest when they access liquidity. The service requires at least Intermediate verification for new accounts and specifies a minimum borrow amount, alongside details on loan repayment and risk management measures.
Bitfinex is a cryptocurrency exchange that allows users to trade a wide range of crypto and fiat currency pairs, including Bitcoin, Ethereum, and Litecoin. The platform offers a proprietary trading terminal with mobile access, supports margin trading with leverage up to 1:10 (or up to 1:100 for derivatives), and provides features like customizable order types, a demo account, and investment programs such as staking and deposits. Additional details about Bitfinex can be found in the broker profile on Traders Union.
For more background on Bitfinex’s ongoing developments, including the recent launch of StablePay for USDT0 deposits and withdrawals, see our earlier news about Bitfinex.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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