Bitfinex provides conversion services for LBTC and USDT. Each of the conversion methods is handled slightly differently.
How to Acquire Liquid Bitcoin (LBTC)
BTC on the Bitfinex platform must be converted to LBTC before making a Liquid withdrawal. Bitfinex converts BTC and LBTC at a 1:1 ratio and charges no fees. Note that any subsequent LBTC deposits to Bitfinex must be converted to BTC before the funds can be used for trading.
Step 1: Send bitcoins to the Bitfinex Exchange Wallet and wait for at least 3 confirmations.
Step 2: Go to the Wallets page Currency Conversions section and complete the relevant fields pictured below.
Step 3: Confirm that the conversion details are correct.
Step 4: Select Convert.
Step 5: See the updated LBTC balance on the Wallets page.
Step 6: Go to the Withdraw page and select LiquidBTC.
Step 7: Open the Blockstream app wallet and generate an LBTC receiving address using this guide.
Step 8: On the LiquidBTC withdrawal page, enter the receiving address along with the other required information and select Request Withdrawal.
Step 9: Complete Bitfinex’s withdrawal confirmation and wait for the Liquid wallet’s balance to update. Funds will be immediately available for spending.
How to Acquire Liquid-Based USDT
Instead of requiring a conversion like LBTC, you can simply withdraw USDT balances on Bitfinex to a Liquid-based address.
Step 1: Create or log into a Bitfinex account, and deposit or convert a deposited asset to USDT.
Step 2: Select Withdraw under the Wallet menu in the top, right corner of the screen.
Step 3: Select US Dollar under the Tether section of the New Withdrawal menu.
Step 4: Select USD(Tether) on Liquid under Transport.
Step 5: Enter the receiving address in the Address field.
Step 6: Enter the amount of USDT to withdraw via Liquid in the Amount field.
Step 7: Select Exchange Wallet from the Wallet menu.
Step 8: Check the appropriate fields and press Confirm Withdrawal