According to some data taken from Statuspage, the Bitfinex exchange always provides high-quality performance to its traders even at times when the volatility of crypto prices is very high and other platforms close.
In the crypto world, everyone knows that exchanges such as Coinbase and Kraken often go offline when there are strong price movements, especially upwards, and this can damage traders and investors, making them miss the right time to sell or buy. For example, this happened just a few days ago on Coinbase when the price of Bitcoin was going over $10,000 and access requests to the platform were rising by 5x.
By contrast, Bitfinex has always stayed online at these particular times with very good performance and did not have any major connection problems during 2020, despite the high rate of login requests from an increasing number of traders.
In this regard, Paolo Ardoino, CTO of Bitfinex but also of Tether, explained:
“The high-level performance of the Bitfinex platform is a reflection of both the dedication of our technology team and the integrity of the exchange. We always strive to deliver an optimal trading performance regardless of market conditions. In fact, providing an impeccable service in times of extreme volatility is what we live for.”
According to another recent research, Bitfinex is the most liquid exchange when it comes to Bitcoin and Ethereum.
“We have an obsessive interest in technical improvement. This is the reason why professional traders are trading with us. Our obsession with technology and performance while being the smoothest platform to trade makes us a natural fit for high-level traders who are concerned about latency. These traders appreciate not only the technical aspects but also the platform’s design,” continued Ardoino.
Bitfinex users use trading programs that develop High-Frequency Trading (HFT) strategies, such as statistical and volatility arbitrage.
These features use programming languages such as NodeJS and Python, allowing users to customize order types and have automated trading strategies.