Bitfinex and Ethfinex complete the migration on dedicated servers. When to expect outages?

iFinex goes to the final stage to migrate data exchanges on dedicated servers. Recall, Market Synergy iFinex helps with the transition from AWS to a private cloud infrastructure that is hosted in a Swiss datacenter in the heart of Silicon valley. According to the company, it will use the equipment only premium that is best suited to trade large amounts of cryptocurrency.

At the last stage of the migration process will need to be translated trading platforms iFinex offline. Thus, account holders Bitfinex and Ethfinex will not be able to trade or have access to their wallets. It will happen on Monday 7 January 2019, then Bitfinex and Ethfinex will work offline for 3-7 hours.

Why do I need it?

iFinex is constantly being improved and strives to create the most comprehensive trading platform in the market. Data migration to dedicated servers is atypical in this industry, so the company has developed its own approach to traditional exchange transactions. First and foremost, it is necessary that professional traders from the usual sectors feel comfortable in the cryptotrading.

Among other advantages of switching to a dedicated physical server of this type include:

Increase speed

Thanks to the carefully selected equipment, and new gateways, order processing performance will increase at least twice. The final speed will depend on distance provider traders to the new data center of the company.

An increased level of security

On Bitfinex and Ethfinex already provided most of the security features such as 2FA, whitelists for IP addresses, blocking withdrawal and much more. In fact dedicated servers are be safer, as the equipment will be under the full control of experts of the company, what can be said about any cloud storage, when you have to depend on a third party. In this Market Synergy ensures round the clock surveillance and serious security measures at direct access to the data center.

What does this mean for traders?

Trading platform Bitfinex and Ethfinex will be disabled for more than seven hours. Account owners will not be able to access the wallets and upgrade all the features of the two platforms will operate in standalone mode. The company draws special attention to the fact that all client funds will be fully intact and in no way will be affected during the migration process. All open orders will be saved regardless of the price movement and resumed after the platform returning to work.

If you are doing margin trading on these exchanges, we recommend to close all open positions and leave them for the time of migration. Either make sure that funds in your account is enough to cover any unexpected costs in case of an unexpected market reversal.

More data look at cryptodata.

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0 Comments on “Bitfinex and Ethfinex complete the migration on dedicated servers. When to expect outages?”

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