The Bitfinex cryptocurrency exchange has announced a new feature that allows users to create multiple sub-accounts under one master account.
As the technical director of the company Paolo Ardoino noted, the introduction of this option occurred almost at an ideal time, taking into account the growing interest in cryptocurrencies from institutional investors.
Finally @bitfinex got sub-account feature, done it's own unique and super-flexible way: context-switch, fast fund transfer, refined control over sub-accounts and cumulative fee tier.
Timing on this is perfect, given the recent increased institutional interest! You shall see https://t.co/PuAzOYp93M
— Paolo Ardoino (@paoloardoino) January 20, 2020
The Bitfinex blog says that the sub-account system has been introduced at the request of many users.
According to the proposed scheme, users will be able to experiment with several trading strategies at the same time, while Bitfinex will use the combined trading volume for all related accounts, offering general discounts on commission according to the structure of calculating commissions.
If the user account is verified, the client can choose which sub-account will use this data, giving it all the relevant advantages. In addition, each sub-account can be verified individually.
Users will also be able to send funds from the master account to the wallets of their chosen sub-account.
When creating a sub-account, it is tied to the main user account, which will continue to act as a master account. Only the master account has the authority to create sub-accounts (up to 100), it is also endowed with a number of other functions, including changing the viewing mode, changing e-mail, etc.