In the age of crypto trading, traders have many options to choose the platform and start trading. From native exchange tokens to the latest ones, trading platforms following regulations offer options to traders to trade without any issues. However, choosing the right trading platform and having insight into coin exchange are vital. Since there are several crypto exchange options, choosing the right one is quite a task. One such Cryptocurrency exchange platform is DigiFinex.
|Headquarters||Hong Kong, Singapore|
|Listed Cryptocurrency||BTC, ETH, BSV, BCH, DOGE, DFT, and more|
|Supported Fiat Currencies||10+|
|Supported Countries||150+ countries except US & Singapore|
|Minimum Deposit||0.001 BTC|
|Transaction Fees||Normal – 0.2%
VIP – 0.060%
|Withdrawal Fees||Depends on the currency|
|Customer Support||Mail, Live Chat, & Help Desk|
As mentioned above, selecting the right cryptocurrency exchange platform is a task; it is vital to read reviews to get insight. This article presents users with a complete DigiFinex review that will help in deciding the right one.
This DigiFinex review will cover all aspects of the exchange platform that will help decide and trade accordingly. It also covers trading fees and other fees involved in this exchange.
DigiFinex has established itself as a central crypto trading exchange platform. This digital trading exchange platform uses native exchange tokens and powers of the DigiFinex Ecosystem. Traders using this website can trade spots, perpetual swaps, and buy crypto using fiat currency. Trading volume in DigiFinex is relatively easy due to user-friendly vital key features and other aspects.
What Is DigiFinex?
DigiFinex exchange is a Cryptocurrency trading platform and currently has more than 4 million users globally. This digital coin trading platform offers perpetual swaps, purchasing digital coins using a credit card, and leverage trading.
Due to its user-friendly features and a growing number of traders, it ranked 10th for its liquidity and trading volume as per the Coinmarketcap website. Headquartered in Singapore, one of the significant Cryptocurrencies markets, it has an office registered in Seychelles. It is one of the six exchanges registered in Seychelles.
Currently, the platform offers 100+ major cryptocurrencies trading pairs and ten fiat currencies; traders can actively trade. The list includes- Bitcoin, Cardano, Aave, ChainLink, Ethereum, and others. It has its own DigiFinex Token that helps in trading coins.
History of DigiFinex
Registered in Seychelles, DigiFinex Limited owns this Singapore-based Cryptocurrency exchange platform. It was launched in 2018; the website established itself as one of the trusted digital coins financial exchanges. DFT is an ERC-20 token entirely based on the ETC intelligent contract system. It has liquidity of 130 million DFTs.
The company keeps on upgrading its system to ensure trading happens smoothly and all the funds are safe. The core team, including the founder Kiana Shek, conducts its operations in Malaysia, South Korea, China, and Hong Kong. It has also been expanding its reach to garner more traders for trading on the platform. However, traders from the US and Singapore cannot conduct any trading activity at DigiFinex.
In 2019, DigiFinex exchange launched DigiFinex Korea, especially for traders in South Korea to trade cryptocurrencies using South Korean won. It partnered with Simplex in the same year where users can buy Bitcoin, Litecoin, Ethereum, and other digital assets.
Why To Choose DigiFinex?
There are many reasons why traders should use this DigiFinex platform for trading purposes. The very first reason is it allows more than 100 cryptocurrencies trading, which is enormous compared to other exchanges. So the user has options to select among the best or use multiple digital assets to trade.
Moreover, it majorly focuses on the Asian market, except traders from Singapore. So it provides high-end liquidity and trading volumes. Another primary reason to choose DigiFinex is the security of funds.
The exchange platform is regulated by the Australia Regulated Digital Currency Exchange Service Provider and Monetary Authority of Singapore (MAS) for secured Blockchain technology. Additionally, every trader registering with the site needs to run through the Know Your Customer and other required steps.
With a primary and pro user interface, users using a desktop and a mobile app can easily do the trading activity. The slick trading tool has made this Blockchain technology platform worth using. Besides, choosing DigiFinex allows new traders to buy crypto through credit cards, and the purchase limit is $20,000.
DigiFinex limited is also known for rewards and 24/7 customer support. No matter what issue traders face, expert assistance is offered. The in-house developed security has multiple fail-safe layers, two-factor authentication, giving cryptocurrencies heavy protection. Further, users can trade using the app DigiFinex.
Is DigiFinex Safe?
Until now, there have been no cases of hacking or data breach on the DigiFinex platform. It appears to be the most secure platform having bank-like security that includes multiple steps of registration.
Moreover, to avoid any money laundering activities, users must complete the KYC process and provide a stated government ID. The core team of DigiFinex ensures users’ assets are safe. Some of the security measures followed by the platform are- two-factor Authentication, secure physical vault storage, cold wallet storage, and compliance with KYC and AML/CTF standards.
Services of DigiFinex Exchange
DigiFinex being one of the top crypto exchanges platform, offers a wide range of services for traders.
Some of the services provided are-
Spot trading in DigiFinex offers security trading for immediate delivery in the market capitalization. With this, trading traders can buy and sell foreign currency as a part of commodity purposes. The right spot trading platform like DigiFinex will get exposed to thousands of assets using derivatives like spread bets and CFDs.
Perpetual Swaps by DigiFinex trading are derivatives letting traders trade the value. There is no expiry date, no trading of the underlying asset, and swap price closely tracks the price of underlying assets. DigiFinex has a finely designed derivative type and has dominated volumes on the leading exchange platform.
The insurance fund service by DigiFinex act as the safety-nets protecting traders from losses and ensure profits on trading is paid. One of the primary purposes of using this insurance fund is to avoid over auto-deleverage liquidations (ADLs). Furthermore, these funds act as contributions from liquidated positions.
DRV by DigiFinex is the native exchange token of DigiDeriv, having a total supply cap of 100 million. There are different issuing methods- 2% private placement + 2% public subscription and + 96% activity rewards.
DigiFinex Review: Pros and Cons
Like every Cryptocurrency exchange, there are pros & cons that every trader needs to be aware of.
|More than 100 coins trading options.||The US and Singapore-based traders aren’t allowed.|
|Supports trading with leverage.||Limited analytical and charting tools for large-volume traders.|
|In-house token based on Ethereum.|
|DigiFinex takes no maker/taker fee.|
|Lowest withdrawal fees.|
|Flexi-earn and crypto loan to earn interest on crypto.|
DigiFinex Registration process
Like all Cryptocurrency exchange platforms, traders also need to register and create an account with DigiFinex. Users need to follow all the procedures of registration for accessible trading facilities on the website.
Steps to follow as a process of registration in DigiFinex:-
- Visit the official website of DigiFinex and click on “Register.”
- Do read all the terms and regulations before agreeing with the DigiFinex Digital Assets Financial Exchange terms.
- Once done, go ahead with the registration process.
- Provide complete details, along with email ID, to get the verification mail.
- Click on the Verification Link sent in the mail to become a registered member.
- Next, provide proof of identification for the trading purpose. Also complete the identification process by providing Know Your Customer (KYC), personal information, government-issued ID, and residential address.
- Once verified, users could government-issued unlock airdrop rewards and raise the daily withdrawal limit, and start doing DigiFinex trading.
DigiFinex trading site allows its registered users to deposit and withdraw funds using credit cards and crypto coins. Traders can deposit and withdraw money on paying specific trading fees. Trading commissions are also low. The transaction fee is 3.5% or $10, whichever is higher. The complete transaction will take at least 10-30 minutes and be deposited into the DigiFinex wallet.
DigiFinex doesn’t allow users to deposit or withdraw using debit cards. Moreover, the platform uses Wire Transfer, Simplex for transfer purposes. The Wire Program has a set limit of $500-$40,000 per day, charging the DigiFinex fee. Long-term traders should know that the platform charges an overnight interest rate of 0.05% while using the DigiFinex margin trading. Users holding the DFT Token and VIP members will get a reduced fee of 0.06% per transaction. Moreover, if you want to know more about the same, click here.
Different exchanges have different withdrawal fees. As mentioned above, the exchange rate here is 0.0003 BTC while withdrawing the same.
DigiFinex Deposit and Withdrawal Methods
The withdrawal and deposit in DigiFinex are fast and straightforward. Initially, the trading platform did not accept any fiat currency. It resulted in limiting new Cryptocurrency investors from doing any trading activities.
For deposit, the user can now use a credit card. So if carrying MasterCard or Visa cards, then go ahead and purchase any Cryptocurrency from the trading website. For deposit fees, the exchange site changes slightly below the industry sitting of 0.25%.
Like the coin withdrawal, the website charges 0.0003 BTC, which is quite below the industry number. Users can deposit crypto assets and stablecoin like Tether (USDT) for trading purposes. Traders can use both the desktop version and the DigiFinex mobile trading app.
There is a 3-step process for depositing. Users need to select the Cryptocurrency, copy the unique deposit address, and transfer funds from the exchange to the wallet. Choose the best crypto wallets for storing your cryptocurrencies.
Supported Currencies & Countries
DigiFinex supports more than 100 crypto coins for exchange. This includes Bitcoin Cash, Bitcoin, Aave, Litecoin, Chainlink, Cardano, Ethereum, VeChain, etc. Select multiple currencies to trade.
There are more than 4 million users from 150 countries trading on the platform, and when it comes to countries, the company’s primary target is covering the Asian market. It allows traders from Malaysia, South Korea, Australia, China, and others.
However, traders from the US and Singapore are not allowed to trade on the website. But it has an office in Singapore. One reason the US is not included in the Security Exchange Commission’s harsh regulations, which does not allow foreign companies to solicit US investors.
Trading with DigiFinex
DigiFinex limited targets both beginners and experienced crypto traders. It has both primary and pro version interfaces for users. Under the basic version, the user gets a slick trading platform and trading tools allowing for technical analysis on the charts.
Charts are listed by TradingView, a renowned tool with a suite of indicators. One of the powerful features both the preliminary and pro version carries is the “one-click navigation.” Using this, traders can change time, add chart indicators, and set alerts.
Then, the ‘clear all drawings tools’ option helps to remove all drawing lines and patterns with just one click. The layout of the pro user interface does not have much difference. It has a drop-down menu allowing the chart size to increase. An order window comes with an option to switch between spot and margin trading along with the pre-set volume amounts on the sliders.
Trading Assets of DigiFinex
DigiFinex offers multiple trading assets, including Bitcoin, Bitcoin Cash, spot currency trading, and others. Traders can choose the one on which they are confident of getting a good return. Traders do not have to pay heavy trading fees for asset exchange.
DigiFinex offers a mobile trading app for its users. The trading app has been downloaded over 50,000 times with good review ratings. Users can download the app and start trading after completing the registration process (only for new users).
The DigiFinex app is available for Android, iOS, and tablet versions. You download and open a DigiFinex account, deposit fees, sell crypto using a native token, etc.
All digital assets in the platform are highly secured to avoid third-party access or data breach. The Compliance Officer undertakes the annual AML audit of the company’s operations. Moreover, before trading, every user needs to provide Proof of Address and under the KYC process to ensure trading activities are done without any suspicious process and no money laundering activities happening.
All Cryptocurrency exchange coins are secured against access by a third party. DigiFinex also offers access to Cold Wallet. Users can use any of the three- KeepKey, Trezor, and Ledger Nano S.
DigiFinex Customer Support
DigiFinex offers the best customer support in all forms for its registered users. Whether the trader wants to know about withdrawal fees, deposit fees, trading fees, transaction history, or any other program available in users DigiFinex account, 24/7 customer support is available. The customer service team is the best of DigiFinex limited.
Users can chat live with executives to get real-time customer support. So the member can now connect with experts for quick queries about the Cryptocurrency exchange.
Although DigiFinex exchange review covers every aspect of the exchange platform, it is best to compare with other exchanges for cryptocurrencies before trading. Services offered on the platform are pretty impressive, especially 100+ Cryptocurrency trading options.
Combined with the ability to buy coins with a credit card, derivatives, multiple Cryptocurrency exchanges, and trade margin products on a single platform, DigiFinex is certainly the trading platform to try out.
Is DigiFinex Legit?
The company is registered in Seychelles and is operating in Hong Kong with offices in different countries. There are more than 4 million users trading and is regulated with ‘Cryptocurrency exchange in Australia’ and holds provision exemption of digital payment token services in Singapore by the regulatory body, MAS. Users can safely exchange cryptos and can even connect with the crypto community for further assistance.
How Do I Withdraw From Digifinex?
The withdrawal process in DigiFinex is pretty simple. Visit the official website and click ‘Withdraw.’ Select the currency to withdraw. Enter the Address Tag with coins. Finally, enter the amount, verification code and submit.
Is DigiFinex a Good Exchange?
Overall, it is an excellent platform to conduct trading on different exchange coins and native tokens. There have been no cases of hacking or data breach. Moreover, it is supported by 150 countries.
Where is DigiFinex Located?
It is a Hong Kong-based company but has a presence in different Asian countries including Singapore.
Does DigiFinex Have a Referral Program?
Yes, users can receive rewards of USD 2 for each new customer depositing fiat currency and completing the first transaction successfully. A rebate or affiliate program is providing up to 48% of the referred user’s trading commissions. Existing users can use and share the referral link or promo code with friends and family to receive trading rewards. You can download the Android or Ios version to share the referral link.