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Bitfinex Adds Support for Cardano’s ADA Cryptocurrency

Following the recent rollout of the Shelley upgrade that was launched successfully by Cardano developers, the major cryptocurrency exchange Bitfinex has listed Cardano’s native cryptocurrency ADA on its platform according to the announcement made by the Cardano Foundation on August 6, 2020. As per the official announcement, the Bitfinex exchange has announced to start ADA trading on its platform from today onward.

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Initially, the cryptocurrency exchange has added support for three spot trading pairs for the trading of the ADA cryptocurrency. These are ADA/USD, ADA/BTC, and ADA/USDT trading pairs. Beginning from August 6, the holders of ADA are allowed to start depositing on the Bitfinex exchange’s trading platform.  The ADA holders can leverage the highly competitive trading fees and low spreads offered by the Bitfinex exchange as well.

Listing ADA trading is a natural step for Bitfinex

With ADA’s listing on Bitfinex, users can buy and trade ADA tokens on a trustworthy and reliable trading platform. The Chairperson of the Cardano Foundation Nathan Kaiser said that through staking, the ADA cryptocurrency is a vital part of the Cardano blockchain, therefore, “it is essential that ada holders have access to trustworthy and reliable exchanges on which to purchase tokens”.

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The Chief Technology Officer (CTO) of the Bitfinex exchange Paolo Ardoino said that it is a natural step for Bitfinex to list trading pairs of ADA on its trading platform. Adding more to it, he said:

“Listing ADA trading pairs is a natural step for Bitfinex. There has always been interest within our community for us to offer ADA pairings, and at this historic time for the Cardano blockchain, there is more demand than ever before from the blockchain community for reliable and trustworthy exchange support for ada trading.”

After the launch of the Shelley upgrade by Cardano, the listing of ADA on the Bitfinex exchange is the next step towards ADA’s mainstream adoption. Charles Hoskinson, the CEO of IOHK said:

“Listing on Bitfinex, one of the world’s largest cryptocurrency exchanges, represents a significant milestone on the road towards mainstream adoption of ada, and reflects the increased market confidence in Cardano.”

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MubaShar Nawaz

MubaShar Nawaz is an experienced crypto writer working for Tokenhell. Having passion for writing, he covers news articles from blockchain to cryptocurrency.

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