Yesterday Bitfinex exchange published the announcement about its fiat deposits according to which a new and increasingly robust fiat deposit system on Bitfinex to be available by Tuesday, October 16.
Today Bitfinex has introduced a new, improved and increasingly resilient fiat depositing system for sending fiat currencies to Bitfinex.
The announcement reads that this new process will once again allow KYC-verified users from around the world to initiate deposits across USD, GBP, JPY and EUR.
The new fiat deposit system will work as follows:
- A user wishing to initiate a fiat deposit on Bitfinex will create a deposit request to signal interest in completing a deposit. Through this deposit request, a user will be able to specify the exact amount and currency which they wish to deposit.
- Following an account review (which may take up to 48 hours), the user will receive a deposit notification which will include, among other things, bank details specific to the individual’s transaction.
- The user will be able to initiate the deposit based on the information received through the deposit notification. The deposit will subsequently be processed within 6-10 business days from Bitfinex.
Bitfinex writes that the minimum fiat deposit amount on the exchange will remain at 10,000 USD with a 0.100% processing fee.