Bitfinex Launches ‘Bitfinex Pulse’, a Social Networking Platform

British Virgin Islands-based cryptocurrency Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term Bitfinex is today announcing the luanch of Bitfinex Pulse, a social platform that will reportedly “enable users to exchange ideas, interact with each other, and feel the pulse of the exchange’s growing community.” (See what they did there?)

The exchange said in a statement shared with Finance Magnates that the social network is “tailored” to the needs of cryptocurrency traders, and will provide Bitfinex’s customer base with the opportunity to “Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term the exchange’s community to get a trading edge.”

Bitfinex Pulse, the next generation of social trading, has finally arrived!

Distinguish yourself, join the trading community of the future and never miss that life-changing market insight again. https://t.co/RqzrBGY6i6 pic.twitter.com/KNluzdEB7P

— Bitfinex (@bitfinex) April 27, 2020

The network will provide channels for verified customers interact with each other, while also allowing each user the ability to choose whether their “pulses” are posted publicly; verified and unverified Bitfinex customers laike will have the ability to publish private “pulses,” which are short-form public posts similar to Tweets on Twitter.

These “pulses” are posted underneath a nickname that is chosen by the user. Users can write, share and like pulses from other users. In addition, public pulses can be shared online, including on Twitter and Facebook, and be liked by other community members logged on to the Bitfinex Pulse platform.

With the launch of Pulse, Bitfinex joins a host of other cryptocurrency exchanges that have moved toward incorporating social networking components to their platforms.

Knowledge is power, says Paolo Ardoino

Paolo Ardoino, the exchange’s chief technical officer, said in a statement that he believes the network “will become a valuable information source” as it continues to grow.

“[...] We have launched Bitfinex Pulse in response to the demand of our users for a professional content distribution platform for traders,” he said. “Building on the success of the public leaderboard -- which has already created crypto icons on Twitter.”

To sign up with Bitfinex Pulse, users with Bitfinex accounts simply need to choose their choose nicknames; these can be the names already connected to their Bitfinex account on the platform’s leaderboard. Users do not have to have Pulse accounts in order to view pulses posted by others.

Earlier this month, Bitfinex announced the launch of a staking program to reward its clients for holding digital currencies on the platform; traders on the platform can earn up to 10 percent of annual interest on certain proof-of-stake tokens.