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  Quick Take Crypto exchange OKEx is adding support for Bitcoin’s Lightning Network in the coming weeks. The move is aimed at enabling cheaper and faster bitcoin transactions for users. Cryptocurrency exchange OKEx is adding support for Bitcoin’s Lightning Network in the coming weeks. Revealing the news exclusively to The Block on Tuesday, OKEx said the move is aimed at enabling cheaper and faster transactions for users. Specifically, bitcoin deposits and withdrawals will get cheaper, said the exchange. The current average cost of one bitcoin transaction is about $11, and its average confirmation time is between 10–30 minutes. “This is impractical as more users join the network,” OKEx CEO Jay Hao told The Block. With Bitcoin’s Lightning Network, a Layer-2 scaling solution, the average cost will come down to “less than 0.01 cents,” and the average confirmation time will reduce to “1–3 seconds,” said Hao. That would be a huge benefit, but there are certain limitations of the Light...

  Bitfinex , a state-of-the-art digital token trading platform, successfully managed 400,000 ‘trading events’ per second yesterday amid a frenzy of speculation on bitcoin after Elon Musk’s Tesla bought US$1.5 billion of the world’s biggest cryptocurrency. Bitfinex cemented its preeminent position, delivering a high-performance trading experience while rival exchanges suffered downtime amid soaring website traffic as the bitcoin price spiked to US$48,000. Bitfinex handled approximately 400,000 events, or connections, per second from a global customer base between 1pm and 5pm UTC on February 8th. These connections were composed of crypto investors seeking to trade or obtain a price for digital tokens. “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,” said Paolo Ardoino, CTO at Bitfinex. “We always strive to deliver an optimal trading performance regardless of market conditions. It is ...

  Paxful  is a peer-to-peer (P2P) bitcoin exchange. It’s actually one of the oldest in operation today, so you’re in good hands if you decide to go with Paxful. You’ll do the majority of your stuff via Paxful’s exchange and then, once you’re done with the nitty-gritty stuff, you can manage all your crypto via the Paxful iPhone app. Available for iPhone and Android, Paxful i s  the easiest and coolest platform for getting into Bitcoin for beginners. If you’re brand new to the concept of bitcoin investing, Paxful is the perfect place to start. You can buy, sell, and trade bitcoin and you even get a free bitcoin wallet as part of your membership. The platform is easy to use, supports over 300 payment methods, and is available in the UK, US, and Europe, as well as most other regions, save for those under communist rule. With Paxful installed, you can quickly buy bitcoin and then securely store it inside your wallet. It’s as simple as entering the amount to want to buy and the...

Global Prime , an Australian-based online trading provider, has revealed exclusively to  Finance Magnates  that it has partnered with BidFX in order to expand and centralise its interbank funding market. BidFX is an institutional foreign exchange solutions provider. Under the partnership announced today, Global Prime has selected BidFX’s solution to streamline direct access to tier-1 banks who make up the interbank market. This is done via the BidFX workflow architecture. According to the statement seen by  Finance Magnates,  the solution has reduced overnight funding rates (swaps) for the Australian firm’s retail and institutional clients by more than 50 per cent. The partnership has been driven by increasingly fragile liquidity in the funding markets, which has resulted in volatility in swap points. Because of this, both retail and institutional traders are having to deal with more expensive funding of overnight exposures. Under the agreement, through BidFX’s solut...

  XM  was founded in 2009. Within the period that has passed, they have managed to become one of the most instantly recognizable names in forex trading. This is not only due to their excellent regulatory compliance worldwide, they are regulated by both CySEC, and ASIC, as well as two other top-tier regulators, but also the fact they provide an accessible trading environment to traders all around the globe. The broker caters for the needs of the forex market in more than 196 countries. This makes them one of the most available brokers in the industry to all levels of trader. Couple this with an exceptional education section, and a great variety of assets to trade in, and you have a winning combination with XM.  Pros A huge range of assets available to trade Low minimum deposit from $5 Available in more than 190 countries High leverage available Swap-Free Islamic trading account  Cons No Proprietary trading platform Limited account type availability in some regions Tru...

  AvaTrade   was founded in 2006 in Ireland. They still maintain a strong presence there but have since grown to become one of the top forex brokers in the sector offering services around the world. A low minimum deposit requirement of just $100 across most of the available account types, coupled with respected regulation from a number of bodies worldwide, make AvaTrade a popular choice for new and experienced traders alike. The broker offers an extensive range of assets to trade in which includes more than 60 currency pairs, and other markets for trading stocks, ETFs, crypto, and more. AvaTrade users can also avail of a very strong range of educational content with insightful material to fit all level of traders.  Pros Very well-regulated worldwide Excellent range of available markets include forex, CFDs, and cryptocurrency Wide range of top trading platforms available An extensive education section  Cons Demo account is limited to 21-days High inactivity fees Trust...