Hong Kong-based global cryptocurrency exchange Bitfinex has been busy boosting its offering heading into 2017.
Today we learned that Zcash has been added as a new trading currency. At the present time, only exchange (spot) trading is enabled.
Two Zcash trading pairs – ZEC/USD and ZEC/BTC – are available for margin trading and margin funding for non-US users.
Zcash is a relatively new decentralized and open-source cryptocurrency that offers privacy and selective transparency of transactions. Zcash payments are published on a public blockchain, but the sender, recipient, and amount of a transaction remain private.
Until order book liquidity further develops, margin trading Zcash will require 100% initial margin and 50% maintenance margin. This means that users will be able to open margin trading positions equal in value to the collateral held in the margin wallet and adds the option to open Short positions for ZECUSD and ZECBTC.
Bitfinex stated that as the Zcash market develops, parameters will be readjusted accordingly to allow for leveraged margin trading, both long and short.
