DigiFinex Crypto Exchange Review

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Written by

Heath

https://decentralised.news/

2 years ago

What is DigiFinex?

DigiFinex is a platform for trading digital assets and it offers over 100 cryptocurrencies including Bitcoin, Ethereum, and more. The crypto exchange is said to have been founded by an experienced team with a wealth of know-how and experience working at companies such as Xunlei, Tencent, Baidu and HP.

DigiFinex is registered in the Seychelles and headquartered in Singapore. The DigiFinex app is available on both Android and iOS. The app also has some decent customer reviews.

Benefits of Using DigiFinex

Users can purchase crypto via the apps with no hidden fees using credit/debit card or bank transfer.
A 0% fiat deposit fee can by enjoyed by first time users of the platform and they are also eligible for 10 USDT with an invited registration.
DigiFinex has the capability to enable users to earn yield on their idle assets so users can earn up to 80% per annum on their crypto funds and up to 8% p.a. on stablecoins.
The platform allows users to buy or sell over 700 digital assets including Bitcoin(BTC), Ether (ETH), MATIC, LUNA, etc.
Users can reach customer service via Instant Messenger. DigiFinex offers 24/7 customer support.

Source: https://www.digifinex.com/en-ww/markets

The exchange has a decent trading interface, easy enough for users to access spot, margin, derivatives, and ETF trading. Currently the platform claims to have over 4 million users around the globe.
Platform claims to support over 110 sovereign currencies that make it possible for people around the world to buy more than 100 types of digital assets.

Source: https://www.digifinex.com/en-ww/charge/credit

DigiFinex also has a P2P market and an OTC desk.
The exchange has an Exemption of Provision of Digital Payment Token Services in Singapore.
The platform is regulated by the Monetary Authority of Singapore (MAS).
DigiFinex is ranked among the top 50 exchanges by volume and liquidity.
The platform is said to have a security system with multiple fail-safe layers which is meant to provide users with bank-graded protection.
The exchange also has its own exchange token, DFT, which is the native exchange token of the platform. It is used for trading fee discounts and other use cases within the DigiFinex ecosystem.

Source: https://www.digifinex.com/en-ww/trade/USDT/BTC

DigiFinex offers different asset management products such as Crypto Quant Fund, Crypto Loan and Flexi-earn for users to have the flexibility to manage their assets.
For users who want to test out their trading strategies, DigiFinex offers a demo trading market where users can conduct simulated trades without using real funds and the demo trading offering also includes complex products such as perpetual swaps.

Source: https://www.digifinex.com/en-ww/swapTrade/BTCUSDT2PERP

Cons

The platform is not available in all jurisdictions.
The exchange doesn’t offer some other advanced trading tools that are available on competitor exchanges such as Binance, OKX, Bittrex, FTX, etc.

Fees on DigiFinex

Zero fees on deposits.
The trading fees for spot transactions is 0.2%, however, holders of DFT token can get reduced fees. VIP users are charged the minimum 0.060% fee.
The flat rate for Margin Trading Interest Rate on DigiFinex is 0.05%.

Withdrawal fees

DigiFinex Affiliate Program

Source: https://www.digifinex.com/en-ww/invite-friends

Users can invite friends to the platform and get 2 USDT as deposit reward when each of those friends completes KYC procedure and trades more than 100 USDT within 7 days of signing up on the platform.