Primexbt blog – Share news about trading and cryptocurrencies

Bitfinex exchange has opened a new social networking site for traders. In order to serve the social platform of the digital sector, cryptocurrency exchange Bitfinex announced the launch of its own social network, which will commence operations on April 27.

With Bitfinex Pulse, the official name of the social network, users can access a vibrant world of trading, multi-way cooperation, and different market operations. Users can thereby compete with the cryptocurrency exchange market by connecting with members of the Bitfinex community.

Different from other social trading platforms

Bitifinex Pulse is not the first in the field of crypto social trading. Many other companies have developed similar products; such as eToro, which provides trading records, messaging, statistics and copy trades – a feature that allows users to be in a similar position to other traders.

“Unlike eToro, which has been a social investment network since its inception (targeting the mainstream retail market), Bitfinex Pulse is tailored to meet the needs of users on the exchange. We focus on niche, high-quality content demanded from tech-savvy users.” Bitfinex representative shared.

He also confirmed that Bitfinex Pulse will not have a copy trading feature. There is also no further information on the social networking site’s verification process, other than information from the company’s public statement.

Disappearance of the live trading room

Before digital technology took over the market, trading was often face-to-face and intense. The trading community is composed mainly of employees racing for profit, trading is held in an extremely competitive environment. Participants can choose certain factors or signals, coming up with their own trading methods and motivations.

As trading has largely moved to digital technology, the crypto space has ushered in a new era of emotion and engagement. This manifests itself on many social media platforms. Emotions are high when the market is up or down, Twitter and other platforms will often record thoughts, ideas and excitement in trading.

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Bitfinex Pulse is a place for traders to converge

Bitfinex’s social networking site will bring together a wealth of in-depth data, exchanged by members as the community expands. Paolo Ardoino, Chief Technology Officer of Bitfinex stated:

“We launched Bitfinex Pulse in response to user demand, delivering professionally distributed content to trading participants. Building on the success of the public leaderboard that created the crypto icon on Twitter.”

Verified members can post freely on the platform, as well as communicate personally with other users. Unverified users can only post in private mode.

Primexbt has seen months of controversy, as parent company iFinex Inc. handling class action lawsuits for alleged market manipulation. However, the exchange continues to develop its platform, saying it will open more staking services in early April.