Banks are running away and Bitfinex is struggling with Fiat deposits
Fiat deposits are what actually started the cryptocurrency trend. It all began when everything was still measured in USD on the digital market. But today a lot of the times transactions are made in Bitcoin or Litecoin or any other cryptocurrency, sometimes confusing the traders. Bitfinex has identified the problem and has suspended all fiat deposits in order to make cryptocurrencies more effective in the circulation around the system. Bank transfers have also been stopped completely, because of the fact that the operations were in complete chaos, even though they denied it.
This latest suspension brings questions about the general future of the company and the industry itself. What will happen to all future deposits and what will they be like? Will Bitfinex be able to continue operating as it once could or will it fully cut off from the monetary system and start its dominance on the digital market? all of this questions need to be answered by Bitfinex itself or else it could be looking at a potential bankruptcy because of all the problems with these transfers.
It is known for a fact that Bitfinex has been banking with HSBC through numerous GTS (Global Trading Solutions). However, it is still unclear whether or not the crypto venue will be blocked by these companies and what other channels they have in order to face these challenges. These transmission delays are the top priority for every employee at Bitfinex at this point, because of the scale it may affect the market on a scale that nobody is expecting. Bitfinex had started assuring the customers that everything was under control and the situation would normalize within at least a week. But that week was going to be a hell of a ride for some investors as Bitcoin prices would surely react.
How is Bitcoin dealing with the news?
No matter what happened, Bitcoin was sure to react with its prices, some of the critics believed that the prices would go crazy and it would fall to the lowest it’s been this past year. But fortunately it managed to hold on to its number 1 place on the market and its relative price remained O.K. within the week.
What’s important to note here is that Bitcoin prices are one of the most responsive ones in the world. it is one of the most susceptible currencies regarding news and is sure to stay that way no matter who says what.
Subscribe to our e-mail newsletter to receive updates.
Binary Options Hub Updates
Best Binary Brokers
RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK
Quantum Binary Signals Review February 21, 2020
Best Binary Options Brokers
Why Trade Binary Options?
Binary Options Trading is certainly a great way to make money online. It requires less experience compared to forex trading, yet binary options trading also involves a significant degree of risk. Among the benefits of binary options, ease of access is the main one. Also binary options provide higher payouts within the lower timeframe. Another advantage of binary options trading is web platforms, no installation required. It is fun and exciting process, yet you need to have a decent binary options trading strategy – get one at Binary Options Hub.
Best Binary Trading Platforms
Binary Brokers vs Platforms
Many traders mislead the definition of binary options brokers and binary options platforms, Binary Options Hub is here to make it clear. Binary Options Brokers are the ones that supply you with services like customer support, help with deposits and withdrawals, various client benefits and so on. Binary Options Brokers are servicing you. Binary Options Platforms are the trading software providers, most of the Binary Options Brokers have a third-party Binary Options Platform. In other words, a Binary Options Platform is simply an options trading platform.
Best Binary Options Bonus
Binary Options Trading Bonus
Most of the Binary Options Brokers offer countless binary options bonus promotions. Binary Options Hub is here to guide you and make sure you only settle for the trusted binary options brokers. While deposit bonus at binary brokers tends to be from 20% to 200%, there are a lot of binary options scams. Do not settle for any offer before you found it verified at Binary Options Hub. In addition to this, Binary Options Hub always recommends to settle for smaller deposit bonuses, as they are easier to withdraw. Only best binary bonuses here!
Best Binary Options Brokers 2020:
Top Binary Options Broker 2020!
Best Choice For Beginners!
Big Sign-Up Bonus!
Free Trading Education!
Free Demo Account!
Binary Options Hub is a website dedicated to making binary options trading industry more transparent, honest and reliable. Our mission is to supply binary options traders with honest binary options reviews and also to provide a detailed reivew of the binary options trading platforms. Note that binary options trading involves a high level of risk itself and it is much risker when you trade with unregulated binary options brokers. Also there are a lot of binary options scams in this industry. Binary Options Hub is here to guide your through the available offers on the market and assure that you are always making a right choice when it comes to selecting the best binary options broker or top binary options trading platform. Trading binary options is quite fun and exciting process that may also result in financial gains, however it is also very risky. Please note that Binary Options Hub does not take any responsibility for your investment decisions. Binary Options Hub also recommends you to consult with an expert before engaging into binary options trading activity. Please read our full disclaimer and risk warning to understand the risks of binary options trading better. Do not deposit more than you are willing to risk.