In the age of cryptocurrency trading, traders have numerous platforms to pick and begin trading. Selecting the right trading platform and understanding coin exchange is critical. DigiFinex is one such cryptocurrency exchange platform. This article provides consumers with a comprehensive DigiFinex review to assist them in selecting the best cryptocurrency exchange platform. This review also covers all facets of the exchange platform, allowing you to make informed decisions and trade appropriately. It also includes trading costs associated with this exchange.
DigiFinex has established itself as a central cryptocurrency trading platform. This digital trading platform uses native exchange tokens and the DigiFinex Ecosystem’s features. Traders can also use this platform to trade spots, everlasting swaps, and acquire cryptocurrency with fiat currency. Due to user-friendly critical vital features and other elements, trading volume in DigiFinex is reasonably simple.
What is DigiFinex?
DigiFinex exchange is a cryptocurrency trading platform with over 4 million members worldwide. This digital coin trading platform provides everlasting swaps, credit card purchases of digital currencies, and leverage trading.
According to the Coinmarketcap website, it is rated 10th for liquidity and trading volume because of its user-friendly features and a growing number of traders. It is headquartered in Singapore, one of the most crucial Cryptocurrency marketplaces, and has an office in Seychelles. It is also one of six recognized exchanges in Seychelles.
The site now supports 100+ major cryptocurrency trading pairs and ten fiat currencies; traders may actively trade. Bitcoin, Cardano, Aave, ChainLink, Ethereum, and more cryptocurrencies are on the list. It has its own DigiFinex Token, which aids in coin trading.
DigiFinex’s History
DigiFinex Limited, a Seychelles-based company, controls this Singapore-based cryptocurrency exchange platform. It started in 2018 and quickly established itself as one of the most reliable digital coin financial exchanges. DFT is an ERC-20 coin solely based on the ETC smart contract framework. Additionally, it has 130 million DFTs in liquidity.
The organization is constantly improving its technology to guarantee that trade runs efficiently and that all monies are secure. The core team, which includes the creator Kiana Shek, operates in Malaysia, South Korea, China, and Hong Kong. It has also increased its reach to attract more traders to trade on the platform. However, dealers from the United States and Singapore are not permitted to trade at DigiFinex.
In 2019, the DigiFinex exchange established DigiFinex Korea, which allows South Korean merchants to trade cryptocurrencies in South Korean won. In the same year, it collaborated with Simplex, where customers may purchase Bitcoin, Litecoin, Ethereum, and other digital assets.
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Why Should You Use DigiFinex?
There are several reasons why traders should utilize the DigiFinex trading platform. The first reason is that it supports more than 100 coins, which is large compared to other exchanges. As a result, the user can choose among the best or trade with different digital assets.
Furthermore, except for Singaporean dealers, it mainly focuses on the Asian market. As a result, it offers high-end liquidity and trade volumes. Another solid incentive for choosing DigiFinex is the protection of your funds.
The Australia Regulated Digital Currency Exchange Service Provider and the Monetary Authority of Singapore (MAS) hold the exchange platform for safe Blockchain technology. Furthermore, any trader registering with the platform must complete the Know Your Customer and other requirements.
Users utilizing a PC and a mobile app may simply conduct trading activities with a primary and pro user interface. The user-friendly trading interface has made this Blockchain technology platform worthwhile. Furthermore, DigiFinex allows novice traders to acquire cryptocurrency using credit cards, with a purchase maximum of $20,000.
DigiFinex Limited is well-known for its awards and 24-hour customer service. Expert support is available for any situation. The security features numerous fail-safe levels and two-factor authentication, providing significant protection for cryptocurrency. Users may also trade via the DigiFinex app.
Is Digifinex A Secure Platform?
There have been no reports of hacking or data breaches on the DigiFinex platform up to this point. It looks like the most secure site, with bank-like security and many registration processes.
Furthermore, customers must complete the KYC procedure and produce a valid government ID to avoid money laundering. DigiFinex’s core staff maintains the security of its users assets. The platform employs security features, including two-factor authentication, safe physical vault storage, cold wallet storage, and compliance with KYC and AML/CTF regulations.
Pros and Cons of DigiFinex
As with every cryptocurrency exchange, there are advantages and disadvantages that every trader should be aware of.
Pros
- There are over 100 coin trading choices.
- It allows for leveraged trading.
- Ethereum-based internal token.
- DigiFinex does not charge a maker/taker fee.
- The most affordable withdrawal costs.
- To earn interest on cryptocurrency, use Flexi-earn and a crypto loan.
Cons
- Traders from the United States and Singapore are not permitted.
- Large-volume traders have limited analytical and graphing capabilities.
DigiFinex Fees
Registered users of the DigiFinex trading platform may deposit and withdraw monies using credit cards and cryptocurrency. Traders can deposit and withdraw funds by paying trading commissions. Trading commissions are also reasonable. The transaction cost is 3.5% of the transaction amount, or $10, whichever is greater. The transaction will take at least 10-30 minutes to complete.
Users cannot deposit or withdraw using debit cards at DigiFinex. Furthermore, the platform transfers data using Wire Transfer and Simplex. The Wire Program has a daily maximum of $500-$40,000, plus the DigiFinex cost. Long-term traders should be aware that the DigiFinex margin trading platform charges an overnight interest rate of 0.05%. Users who own the DFT Token and VIP members will pay a lower transaction charge of 0.06%. Withdrawal costs vary depending on the exchange. The exchange rate is 0.0003 BTC when withdrawing the same.
DigiFinex Methods of Deposit and Withdrawal
Withdrawals and deposits at DigiFinex are quick and simple. The trading site initially did not take any fiat currencies. As a result, new cryptocurrency investors cannot engage in any trading operations.
You may now use a credit card to make deposits. So, if you have a MasterCard or Visa, go ahead and buy any Cryptocurrency from the trading website. The exchange site is slightly lower than the industry average of 0.25% for deposit fees.
The website costs 0.0003 BTC for coin withdrawals, which is much below the industry average. Users can deposit crypto assets and stablecoins such as Tether (USDT) for trading purposes. Traders may access the PC version and the DigiFinex mobile trading app. Depositing only takes three steps. Users must first choose a cryptocurrency, copy the unique deposit address, and then transfer funds from the exchange to the wallet. Choose the finest cryptocurrency wallets for saving your coins.
Supported Currencies and Countries
DigiFinex allows the trading of over 100 cryptocurrencies. It includes Bitcoin Cash, Bitcoin, Aave, Litecoin, Chainlink, Cardano, Ethereum, VeChain, and more cryptocurrencies. To trade, select various currencies.
The platform has approximately 4 million members from 150 countries trading on it, with the company’s major focus is serving the Asian market. It is open to merchants from Malaysia, South Korea, Australia, China, and other countries.
On the other hand, traders from the United States and Singapore cannot trade on the platform. However, it has an office in Singapore. One reason the US is exempt from the Securities and Exchange Commission’s stringent laws prohibiting foreign corporations from soliciting US investors.
Conclusion
Although the DigiFinex exchange review covers every facet of the site, it is advisable to compare it to other cryptocurrency exchanges before trading. The platform’s services are outstanding, especially the 100+ Cryptocurrency trading possibilities.
With the option to buy coins with a credit card, derivatives, numerous cryptocurrency exchanges, and trade margin goods all on a single platform, DigiFinex is undoubtedly the trading platform to try.
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