Bitfinex adds sub-accounts amid growing institutional demand for cryptocurrencies

The Bitfinex cryptocurrency exchange has added sub-accounts within which exchange users can managemultiple trading accounts. The addition of a sub-account function satisfies the institutional demand for the deployment of more complex trading strategies.

The new option will allow users to create up to100 sub-trading accounts under one main account, retaining control and authority when distributing funds between accounts. Institutional traders wishing to provide different levels of access to employees within the same organization can do so using sub-accounts.

Institutional traders havepent-up demand for more sophisticated ways to access cryptocurrencies, – said Paolo Ardoino, CTO of Bitfinex, – The sub-account feature will support the development of multiple trading strategies across multiple accounts, highlighting our ability to meet the needs of institutional traders pursuing more complex strategies.

Subaccounts offer the following benefits:

Discounts on account fees;

Deploying various trading strategies at the same time;

The client decides with which additional account to send verification data;

Direct transfer of funds from the main account to the wallet of the selected additional account.

In addition, the master account holder can perform various other functions, including switching access to view and make changes to various sub-accounts.