Ethfinex is an online Ethereum (ETH) trading platform that was emerged from its parent company known as Bitfinex. Apart from Ethfinex, Bitfinex is also the parent company of another platform called Tether.io.
Ethfinex is simply denoted as the platform, which is used to buy or sell Ethereum coins. In other words, Ethfinex is an innovative version of Bitfinex. It is based on the model of a hybrid decentralized exchange. It uses the expertise customer experience and trading engine of Bitfinex.
The internal governance feature of Ethfinex is usually termed as EDCC or Executable distributed code contracts.
What is Bitfinex:
Bitfinex is the largest and greatest online platform in the World for Bitcoin trading. It is simply specified as an advanced trading marketplace for bitcoins, which are nothing but a type of digital or electronic currencies. In addition to bitcoins, it also offers to trade of some other crypto-currencies like Ethereum, Monero, Zcash, Ethereum classic, Dash, and Litecoin.
Relationship between Ethfinex and Bitfinex:
If a user wishes to log in to Ethfinex, he must have a Bitfinex account. Also, he can use the same login credentials, which he used for Bitfinex.
For APIs, the same format will be used for both Ethfinex and Bitfinex. This means that the users are permitted to use similar API keys for the accounts on both platforms.
History of Ethfinex:
Bitfinex got hacked on August 02, 2016, but it was recovered after 8 months. At that time, the funds of this platform were reimbursed with the help of its valuable shareholders and customers.
The successful recovery of Bitfinex paved a way for the establishment of Ethfinex, which is nothing but a community cum information hub. Ethfinex was announced exclusively for the analysis and trading (buying or selling) of Ethereums.
Ethfinex was announced mainly with a motto of creating a huge impact in the crypto currency market since Eethereum coins are gaining huge attentions of the traders. Visit Page
Unique features of Bitfinex:
- It has a simple user interface with a lot of customization settings
- It offers margin trading services and margin funding services.
- It ensures high liquidity and offers an excellent customer service.
- It ensures security and safety for trading with the help of an option called ‘two-factor authentication’. An additional security feature called API key is also generated in Bitfinex.
Unique features of Ethfinex:
- It is a customer – centric platform that offers digital asset exchanges with high liquidity.
- It acts as an information hub for the traders, developers, and enthusiasts.
- It also acts as a home for the tokens of digital currencies.
- It uses ERC20 tokens for exchanges.
- It creates smart contracts and depicts the nature of the community that uses Ethereum.
- Its tokens have the capability of replacing various traditional business models.
- A variety of financial infrastructure size getting revolutionized with the help of Ethfinex tokens.
- It provides access to variously advanced trading and high liquidity platforms.
- It offers a variety of modules and tools necessary for user interaction.
- Some decentralized exchanges are allowed to plug into the Ethfinex customers for the purpose of trading.
- It permits crowd sales that are based on Eethereum.
- It helps the users in accessing a P2P (Peer to Peer) funding market.
- It facilitates the trading of ERC20 compatible tokens.
- The shareholders are having the authority to take decisions related to the governance of this platform.
