Bitfinex Lending Robot FAQ

What level of certification do I need to complete in Bitfinex？

Individual users need to reach "intermediate". If you need to deposit and withdraw funds directly from Bitfinex bank cards, you must pass personal "Full".

During Bitfinex certification, what should I do if I need additional information to receive official emails?

1. Please follow the official email instructions, on the certification page, correctly supplement the materials required for the audit\or, modify the relevant certification information and re-supplement the materials.

2. After supplementing the certification information, reply to the official directly on the official notification email to notify the official that the certification content has been updated, and please review the official again.

What is a pending order? What is Lending?

Bitfinex Lending adopts the mode of placing an order first and then lending, so in the lending list of LUBI, you can see the order that is currently in the pending order state.

If the match is successful, the order will enter the "Lending" list. In the list in Lending, you can see the current status of the order, including interest rate, amount, loan time, etc.

Why does lending success show a different interest rate than interest income?

Bitfinex will charge a 15% transaction commission for each successful loan, which also results in a 15% reduction in revenue from the theoretical revenue.

When will the interest rate for the loan be credited each day?

Every day around 9:30 am, the lending rate of the previous day will be credited to the Bitfinex financing account.

What is the minimum loan amount recommended？

In AI mode, the recommended minimum loan amount is USD7,200.。

When the loan order expires, why are there 3 different states?

Due to the type of Bitfinex loan order, the user of Lubi acts as the "borrower" to lend USD in the order, and the party in Bitfinex who needs to borrow USD acts as the "lender", by mortgaging tokens, paying interest, and lending USD.

Closed: The order reaches the lending period set by the borrower, and the order expires automatically. (If the loan time is set to 2 days, the order will expire after 48 hours)

Closed (expired): The order reaches the deadline set by the lender, and the order expires automatically. (If the lender sets the time to 1 day, the order will expire after 24 hours)

Closed (reduced): The lender makes an early payment and closes the order.