DigiFinex exchange review
DigiFinex is a centralized exchange that occupies #35 on Guru InvestingExchange Tracker. DigiFinex has trading volume US$1,396,367,650 in the last 24 hours and US$441,399,352,843 in the last 7 days.
DigiFinex currently has 446 cryptocurrencies, 28 paper currencies and 536 markets (cryptocurrency trading pairs). The most popular trading pair on DigiFinex: BTC/USDT.
Compare DigiFinex next to other exchanges here: Exchange comparison tool.
DigiFinex is a centralized cryptocurrency exchange (CEX). Founded in 2017, it offers spot and derivatives markets, margin and copy trading, and exchange traded fund (ETF) products.. In addition to trading services, users of the DigiFinex crypto exchange can access credit and investment programsand NFT Marketplace.
The platform complies with AML and KYC rules. Users from a number of countries, including China, Singapore and the United States, as well as countries in the Balkan region, are not eligible to use the DigiFinex cryptocurrency exchange. Trading is available on desktop and mobile devices.
Markets
The platform is optimized for individual and commercial traders. The DigiFinex spot market makes it easy to trade cryptocurrencies. Users can Margin trading with leverage up to 5x And purchase ETF products. Although fiat currencies are not listed on the exchange, they can be used to purchase crypto assets on the platform through debit or credit payments or bank transfers.
The platform has its own asset – DigiFinex Token (DFT). Users who own DFT can join the VIP program and become over-the-counter sellers, and are also eligible for processing fee discounts and additional rewards. You can learn more about the price, volume of DigiFinex cryptocurrency and how to buy it by clicking Here.
In total, there are over 500 DigiFinex trading pairs available on the spot and derivatives markets. Clients who process large-scale transactions can access block and over-the-counter (OTC) trading services. They allow you to make bulk purchases of Bitcoin and Tether of at least 100 pieces. BTC or 1 million USDTrespectively.
derivatives markets consist of the following:
- Perpetual contracts with USDT margin
- Perpetual contracts with coin margin
- Volatility contracts
- Copy trading
- Options
Volatility contracts also known as movement or settlement contracts. Unlike options contracts, their position can be affected by adverse price movements. Copy trading is a feature that allows users to follow the trading strategies used by the most famous traders on the DigiFinex crypto exchange. Copy trading settings can be configured automatically.
Beginners and traders looking to test new strategies can access demo trading tool. This feature allows them to simulate potential trades in the market without using real funds or risking losing their personal assets.
DigiFinex standard exchange fees are 0.2% for spot traders. Margin traders must pay an interest rate of 0.05%; however, if a position is closed before 10 a.m., interest for that day is waived.
Users holding DFT tokens are entitled to a discount of up to 25% on processing fees. If the trading pair does not contain DFT, the discounted DigiFinex cryptocurrency price is converted using the specified exchange ratio and the latest market price.
By locking a minimum of DFT tokens, users are eligible to join the VIP program. It offers reduced maker-receiver rates across six VIP levels. The discount amount can be determined based on DFT assets or DigiFinex’s rolling 30-day trading volume. An additional 25% DFT discount can be applied to VIP recipient bids.
In VIP-1, the maker-taker fee is 0.12% and 0.18% respectively, or 0.15% for DFT discount takers. At VIP 4 level, makers are not required to pay any commissions. A manufacturer’s discount of 0.003% and 0.006% is available on VIP levels 5 and 6, respectively. Taker commission can be reduced to 0.06%.
DigiFinex withdrawal fees vary depending on the specific asset. The minimum required withdrawal amount and the corresponding commissions are determined individually for each asset. Tariffs are dynamic and may change depending on network conditions. There is no fee for depositing assets.
other services
In addition to the DigiFinex cryptocurrency exchange, users can also access digital asset management and income programs. Asset management tools include a range of stable and promising investment contracts.
Cryptocurrency loans DigiFinex is a lending service that offers low interest rates. Users pledge their preferred assets to obtain short-term liquidity for 7, 14, 30 or 60 days. There are no additional transaction fees.
DigiFinex Launchpad — an exclusive platform for early-stage blockchain projects. Users can invest in their preferred crypto projects, and teams use the funds to develop products. The launcher may not be available to some DigiFinex users due to regional regulations.
DigiFinex NFT this is the market for non-fungible tokens. Here users can buy, exchange and store NFT. Assets can either be purchased at a fixed DigiFinex cryptocurrency price or put up for auction.
Developers can access DigiFinex API Documentation for spot and swap trading. Restful and WebSocket APIs provide quantitative indicators and public data such as DigiFinex volume and current prices.
About company
Cryptocurrency exchange DigiFinex was founded Pu “James” Jia and Kiana Shek in 2017. Current CEO of the company Ned Key. The company’s headquarters is located in Singapore.
DigiFinex is focused on the APAC region and has over 4 million registered users. DigiFinex’s volume and liquidity have ranked it among the top ten largest centralized exchanges at various times since its inception.
According to the project team, five main components to the DigiFinex ecosystem:
- Cryptocurrency exchange DigiFinex
- DFT Token
- Educational Resources
- Blockchain Incubation
- Asset Management Services
In September 2018, the exchange announced plans to list True US Dollar (TUSD) token and begin to phase out USDT from its trading services. However, as of 2022, Tether is still listed on the platform and most DigiFinex cryptocurrency prices can be denominated in US dollars.
Ned Key is the CEO of cryptocurrency exchange DigiFinex. Before joining the DigiFinex team in October 2017, Qi was the CEO of ShenZhen Wala Network Technology. Previously, he also headed the development and operations department at Xunlei Networking Technologies.
Kiana Shek is the company’s chief exchange officer. She received a master’s degree in international finance from New York University’s Stern School of Business and was previously deputy CEO of Chinese technology corporation Baidu.
James Jia is the Chief Product Officer at DigiFinex. He received a degree in physics from Beijing Institute of Technology in 2008.
DigiFinex related pages
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A cryptocurrency exchange is an online platform where you can buy, sell, or trade cryptocurrencies like Bitcoin, Ethereum, and others.
Safety varies by exchange. Look for platforms with strong security measures, like two-factor authentication and cold storage for funds.
Consider factors like security, fees, available coins, user interface, and customer support.
Centralized exchanges are managed by a company, while decentralized exchanges operate without a central authority.
Many exchanges require Know Your Customer (KYC) verification for security and regulatory compliance.
Trading fees vary but typically include maker fees (for adding liquidity) and taker fees (for removing liquidity).
Yes, most exchanges offer cryptocurrency-to-cryptocurrency trading pairs.
Withdrawal times depend on the exchange and the cryptocurrency. Some are instant, while others may take hours or even days.
A wallet address is like a bank account number for cryptocurrencies. It’s required to send your crypto to the right place.
Yes, depending on your country’s tax laws, trading cryptocurrencies may have tax consequences. Consult a tax professional for guidance.
Yes, many cryptocurrency exchanges operate 24/7, allowing you to trade at any time.
A market order buys or sells at the current market price, while a limit order sets a specific price at which you want to buy or sell.
Yes, each exchange sets its own minimum and maximum trading limits, which can vary widely.
It’s not recommended. For security, it’s better to use a cryptocurrency wallet, especially for significant holdings.
Exchanges typically have account recovery processes, including password reset options and support for forgotten usernames.
Some exchanges offer insurance, but coverage can be limited. It’s essential to check an exchange’s insurance policy.
Use strong passwords, enable two-factor authentication, and be cautious of phishing scams and suspicious emails.
Yes, but it’s recommended to learn the basics of trading and understand the risks involved before you start.
Stablecoins are cryptocurrencies pegged to the value of a fiat currency like the US dollar. They provide stability and are commonly used for trading and transferring funds on exchanges.
Yes, regulations vary by country. Many countries have implemented or are considering regulations to govern cryptocurrency exchanges for consumer protection and financial stability.
