The exchange platform Bitfinex are poised to begin derivative trading and it could be with maximum leverage it seems. With a member of their upper management having pointing towards the potential of this occurrence.
Paolo Ardoino, their CTO announced implied to happen via Twitter last night, when he posted a leverage meter bar with the level set to 100. As was probably Ardoino’s purpose, the tweet sparked conversation among his followers and members of the Bitfinex community. With one user, Sherukk commenting “this really happening? 😂😂 the rekts will be epic”, while another Driver 8410 wrote “This is “Go big or go broke”
It seems this a means by which to compete with Bitmex, who already offer similar leverage capabilities on some of the crypto assets they sell on their own platform.
However, users should be getting too emotional about it just yet, as according to Ardonio, who when replying to one user noted “Only isolated at the beginning. Better for risk management.” As such, it will only be for a short period.
Ardonio went on to explain how high leverage will be separate from main market trading. Going on to state “We have quite a steep margin requirement enforcement, with position increases. I’m proud of the result and the protections we have. Of course, we’ll have to learn also from experience.”
Time is ticking off before this new service is implemented on Bitfinex, but it seems to have people talking extensively already!
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