Bitfinex and Ethfinex will Be Down for up to 7 Hours on January 7th

[Zed0X]

Bitfinex and Ethfinex will Be Down for up to 7 Hours on January 7th



On January 7th, 2019, at approximately 10:00 AM UTC, Bitfinex will be performing a data migration from AWS to private, self-hosted servers, improving platform speed, performance and security.

Both Bitfinex and Ethfinex will be down for up to 7 hours to complete the migration. Account holders will not be able to access their wallets, and all features across both platforms will be offline for the duration of the upgrade.

Switching from AWS to Private Servers

Bitfinex will be switching from AWS cloud to a self-designed infrastructure hosted in a Swiss data centre in the heart of Crypto Valley in a move designed to significantly enhance platform performance, speed and security.

As all features across both Bitfinex and Ethfinex will be down for up to 7 hours, users will not have access to wallets, trading, funding, reports or any other features across both platforms, as well as the mobile app. No orders will be executed during downtime. All open orders will be kept (regardless of price movements) and resume once the platform is back online as all orders submitted prior to the start of the downtime will remain open throughout and upon resuming. No orders will be executed during downtime.

Any deposits that were pending before, and deposits that arrive during the scheduled maintenance, will be processed soon after the platform comes out of maintenance.

The migration is held on January 7th, 2019, starting from approximately 10AM UTC. Exact timings will be disclosed in the days leading up to the data migration via their official Twitter.

Bitfinex insists all traders review their margin requirements and assess the risk of market movement on their open margin positions before entering the maintenance window.

Benefits of the New, Private Server

The immediate benefits of the new, private server model will include improved trading speed & performance, access to cross-connectivity & co-location services for traders (the FIX feed or ISP link to Bitfinex’s digital asset gateway is for professional traders and institutional firms), enhanced platform security.

Stats

According to Coinsrates.live Bitfinex exchange 24 hours trading volume is $206,205,396.07 (52,040.53 BTC). This exchange supports 22 cryptocurrencies and 70 market trading pairs. Bitfinex is founded in 2012 and is one of the first professional platform set up to accommodate for the booming interest in cryptocurrency trading.

Now, it is a digital asset trading platform offering state-of-the-art services for digital currency traders and global liquidity providers. They provide access to peer-to-peer financing, an OTC market and margin trading for a wide selection of digital assets all around the world.


https://www.cryptovibes.com/crypto-news/bitfinex-ethfinex-server-migration-maintenance-january-7/