The exchange requires proof of identification by availing of personal details to open an account with them. Data required from the users consist of the Name, Date and birthplace, Email, Phone number, and Mailing address. Finally, users have to provide proof of address, such as utility bills, telephone bills, and bank or credit card statements. The documents provided by users undergo multi-factor https://www.tokenexus.com/ authentication before establishing their accounts. The DigiFinex trading platform is available for users of Android and iOS devices natively, which means that the exchange might be a good option if you are often trading on the go. While the apps don’t boast all the features available on the desktop platform, they provide a stable and easy-to-use experience for mobile traders.
From margin trading to NFTs, you can trade any crypto asset you like on Digifinex’s fantastic platform. Read our Poloniex review and discover a gateway to diverse cryptocurrency trading, staking rewards, and cutting-edge features. DigiFinex is a leading asset management platform with headquarters in Singapore. The exchange is registered under the Accounting and Corporate Regulatory Authority in Singapore, although it operates without the approval of the Singapore Money Authority. Aside from its headquarters in Singapore, DigiFinex has spread its services across Asia and other countries worldwide.
Why Should You Use DigiFinex?
The difference here is that coin-margined trading requires a specific cryptocurrency as collateral, while USDT-margined, as the name implies, requires Tether (USDT). DigiFinex charges a 0.05% flat rate on margin trading interest rates. DigiFinex is one of the world’s top ten centralized exchanges (CEXs) by liquidity and trading volume.
New traders and experienced traders alike will be able to use DigiFinex’s trading services with relative ease. The platform also offers a range of trading options, including spot, leverage, perpetual, and fiat to crypto trades. It supports at least 300 altcoins and 500 trading pairs for this purpose, making it a highly reliable exchange. Other services like cloud mining and a launchpad make the platform worth choosing. DigiFinex users can deposit the major cryptocurrency assets and stablecoins such as Tether (USDT) to start trading.
DigiFinex review FAQs
The core team also have a wealth of experience in blockchain technology and online network product operations. DigiFinex also has a ‘Help Center’ which provides guides, announcements, and troubleshooting for commonly asked questions. The help center is divided up into categories allowing users to quickly find what they are looking for. But the search feature is not great, as announcements and help articles are all returned in the search results, making it hard to find information. After signup on the website click on Identity Verification (KYC).
However, customers can receive a discount on their trading fees by holding DigiFinexToken in their account, which can lower the fee to 0.060% per transaction. Discounted trading fees can help to save profits, which is a great incentive to hold the token in an account. There are a few variations of the user interface Digifinex Review between markets. For instance, the spot trading market offers a section with information on every single token offered. The derivatives market, on the other hand, does not have an informational section. Instead, it is replaced by a monitor window to view open positions, orders, and transaction history.
Terrible and misleading exchange
The exchange provides user data protection through encryption technology and data privacy. Users’ investments on the platform are secured in cold wallets. With over 500 markets and a wide range of trading options, Digifinex ranks as one of the most preferred exchanges for fast, low-cost, and secure trading experience. This platform is a non-regulated exchange that supports a multitude of markets including spot trading, margin trading, ETFs, and crypto derivatives contracts. DigiFinex allows users to purchase cryptocurrency on the platform using credit cards and debit cards via third-party payment processors.
- On top of this, Digifinex has a custom-made security system and third-party oversight from the Accounting and Corporate Regulatory Authority (ACRA) in Singapore to emphasize its efficiency.
- It was founded in 2017 in Seychelles, East Africa, and is currently headquartered in Singapore.
- This ERC-20 cryptocurrency powers up the exchange, allowing DTF holders certain benefits and privileges.
- The complete transaction will take at least minutes and be deposited into the DigiFinex wallet.
- For instance, the spot trading market offers a section with information on every single token offered.
- These include real-time market data, technical analysis tools, and advanced charting tools.
The DigiFinex exchange charges anywhere from 0.2% to 0.5% for spot trading fees on its platform. It is worth noting that DFT holders can further slash fees down to 0.06%. The trading interface of DigiFinex resembles interfaces of other crypto exchanges, and most settings and features are just where you’d expect them to be. The left-hand side of the screen is reserved for trading pairs, the right side is for the order book. Meanwhile, the center is occupied by a chart view, which can display various technical analysis indicators.
Fee structure
Perfect exchange is hard to exist i think in a bear market a lot of small ones have collapsed Digifinex hasn’t been affected thats cool.. Most carry a 1,000 USDT minimum, though there are some lower minimums on certain funds. And expected returns can vary by fund, anywhere from 0% – 50%. There are stable funds, and more advanced funds, with stable funds offering a more modest (but reliable) yield.
- The DigiFinex fee for margin trading carries a flat 0.05% overnight interest rate for each trade.
- According to Coinmarketcap, it is one of the top 100 crypto exchanges globally, with a liquidity of over $2 billion.
- Read about the top cryptocurrency trading platforms in New Zealand for secure and efficient trading.
- DigiFinex has a finely designed derivative type and has dominated volumes on the leading exchange platform.
- Transactions take on average minutes to process and be deposited into the DigiFinex wallet.
- Transaction fees vary by fiat gateway partner but are at least 3.5% or more.
- To the minimum amount for a coin you want to withdraw, you can check the DigiFinex deposit and withdrawal fees page for more details.
These laws demand that the platform follow strict identification procedures for business and individual clients. But, like every other exchange, this trading platform also has downsides. Let’s analyze the pros and cons of the DigiFinex platform using the table below.
