Bitfinex to charge for recovery of deposit errors

Bitfinex exchange starts charging fees for recovery of deposit errors
24 August 2017   4350

One of the leading cryptocurrency exchanges, Bitfinex, has announced the changes in its fee policy. 

Thus, starting from Friday, August 25th, the exchange will charge its customers for the recovery of the deposit errors, such as depositing BCH to a BTC address and vice versa for a $25 fee.

However, the exchange urges users to be extremely careful when making deposits, since, although the funds can be restored, this is not a guarantee:

The community's reaction is quite diverse. From the one hand, some claim that this is such a greedy move from the exchange:

From the other hand, others fairly notice that it won't affect responsible users:

Although anyone can make a mistake, such a move of the exchange will at least relieve it of deposits on microscopic amounts and will allow hiring more employees for the support service. 

Bakkt to Release Consumer App This Year

The app can be used for a wide range of tasks, e.g., crypto and securities trading, virtual goods purchase, etc
23 January 2020   90

Institutional Investor Platform Bakkt will release an app for retail investors this year, with which users can pay with cryptocurrency.

According to the president of Bakkt Adam White at the World Economic Forum in Davos, the application can be used for a wide range of tasks. In addition to trading cryptocurrencies, it will support various virtual “goods” like points of loyalty programs.

In addition, in the future it is possible to add securities trading, as well as the creation of a portal for shops and merchants. That is, the application will be more like a traditional fintech product like PayPal than a solution from a cryptocurrency exchange.

Although the Bakkt platform was originally created for institutional investors, the new director of Mike Blandina is very serious about entering the retail market. Earlier, he said that the application for retail investors should be released in the first half of 2020.

I do not think we are there yet. What gives me optimism is that we are seeing a lot of developer interest. I am confident that someone is going to find something.

 

Adam White

President of Bakkt

 White added that the cryptocurrency market is still underdeveloped.