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Bitfinex releases new fee for high frequency and high size wire withdrawals

On November 11, a crypto exchange Bitfinex announced that starting that date, the exchange will charge a 3.0% fee on all external wire withdrawal requests exceeding the following frequency and/or size limits:

  • more than 2 fiat withdrawals in any thirty day period; and/or,
  • more than $1M in aggregate in fiat withdrawals in any thirty day period.

“Regular withdrawals, currently representing the requests of more than 99% of our customers, are unaffected by this change”, – adds the exchange team.

According to the announcement, Bitfinex has processed over 700 withdrawals representing more than $1B in October 2018 alone.

“Our banking remains stable, but we must prioritize our long-standing and loyal customers using the platform so that they can continue to benefit from our truly unique offering, the benefits of which extend far beyond our users and include many crypto-to-crypto and crypto-to-stablecoins exchanges”, – writes the team.

The announcement also reads that Bitfinex may exempt customers from this charge in its sole discretion. Bitfinex’s fee schedule remains subject to change at any time.

1 comment

  1. Given how seriously Bitfinex treats its position and how much they invest into remaining near the top, I understand why this exchange remains among the most influential ones around