Today we will explain you about DigiFinex Exchange and their services. DigiFinex ranked 7th in coin market cap is one of the top exchange platforms right now. This review will give you total insight about DigiFinex Crypto exchange.
Digifinex came into existence in late 2017. Digifinex is a world’s leading digital trading platform, focusing on cryptocurrencies like Bitcoin, Ethereum, Litecoin etc. The company Digifinex limited owns the DigiFinex exchange site. The founders of Digifinex company are from well-known companies such as Xunlie, Tencent, Baidu, and HP. Digifinex is a Seychelles company headquartered in Singapore.
The exchange has impressive liquidity and in terms of market Capitalisation, it is regularly in the top 25 cryptocurrency exchanges. In Feixiaohao global exchange ranking list, the exchange was among the top 10 list. Today while writing a review, the 24-hour volume is USD 244,423,820 and ranks 12th in coin market cap. DigiFinex always strives to provide blockchain users safe, secure and investment channels.
Recent Activities/Events About DigiFinex
- From 21st Jan 2019 to 27st Jan 2019, DigiFinex is organizing the event “Buy Jewellery with DFT, Get Free Orders for Limited Time”.
- XWC and B2G coin withdrawal services is on January 21st 2019.
Different coins are available – DigiFinex isn’t simply a gateway to crypto. Different coins are traded on the platform, the most famous are BTC, ETH, XRP, LTC, OMG and QUTU
Digifinex token (DFT) – DigiFinex has issued an Ethereum-based token (DFT), which can apparently be used for many purposes.
Decent Trading fees– Market creators and buyers pay the same fee at DigiFinex – 0.20% of the transaction size. This is what one would consider as a “standard” fee, for the majority of the crypto-to-crypto trading systems.
Zero charges on transactions – Unlike the previous factor, this is a solid advantage over the competition. While most exchanges don’t have deposit fees on incoming blockchain transfers, quite a few have withdrawal fees.
- US SEC Level Audit System.
- Professional and meticulous customer service.
- Industry-leading Technology Architecture.
- 100% security deposit.
- Safe and stable trading environment.
How To Use Digifinex?
The registration procedure is similar to all exchanges. Firstly you have to read the risk warning that pertains to the volatile nature of the cryptocurrency market. Hence, you have to acknowledge the above-mentioned warning and confirm that you are neither an American nor Singaporean citizen before proceeding with the registration.
Once you’ve done that, you will see a registration form that requires you to fill out all personal proceeding with data.
There are two options to: By providing e-mail or phone number. The first option is the only one for all non-Chinese users as DigiFinex only supports China’s country calling code (+86).
DigiFinex allows trading in both websites as well as the mobile app. At the initial trading stage, you have to make sure that there are enough funds in your account.
To jump directly into trading, choose the “Exchange” section. It features a TradingView-powered candlestick chart that gives traders the ability to monitor any given trading pair with the help of tools for technical analysis.
On the left side of a list of all available trading, pairs (with the current price of a given asset along with the most recent change is in the table). The order book is available on the right, with all pending, buy and sell orders.
As of now, all deposits and withdrawals automated on the exchange. Initially, click the “Deposit” tab in the top right section of the page in order to deposit money. Before conducting a deposit, a list of all cryptocurrencies is displayed, including the native token DFC. To generate a corresponding wallet address choose any available coin in order. 0.001 BTC is the minimum deposit amount.
Finally, withdrawals are conducted in a similar manner as the withdrawals are conducted in any other cryptocurrency exchange. Depositing cryptocurrency is free. However, when it comes to withdrawals, there is a flat fee that depends on a particular coin you want to withdraw.
DigiFinex provides two-factor-authentication (2FA)! also limits stealing funds by hackers effectively. Google Authenticator or Alibaba Authenticator (the former is more suitable for foreign traders) are the two options. Additionally, The exchange stores a special key to access the account if deleted by mistake.
Basically, one of the impressive things of this site is that it has never been subjected to a single security breach, which speaks about the security level (although, Digifinex doesn’t provide any insights into its safety features). Full name, a photo of ID and proof of residence is required for the identity verification of specific users.
Pros and Cons of Digifinex
However, before opening an account with DigiFinex, each user feels or analyzes whether it is suitable for him. Coinpedia made the task much easier for you by making a comprehensive list of all pros and cons of DigiFinex.
- The fee schedule is rather competitive as compared to other top 20 competitors (this is a salient feature of the majority of Chinese exchanges).
- Like Binance, similarly here account verification is not mandatory, but increasing withdrawal limits wants it.
- A strong emphasis on security and regulatory compliance.
- USDT supported – DigiFinex is one of the many exchanges that use this token, which also represents a US dollar. We feel the need to remind you that there are rumors, the company behind Tether may not have enough cash to back every token they have ever created.
- Singapore and the US users are also not allowed to create an account with the exchange.
Overall, we come to the conclusion that DigiFinex cryptocurrency exchange is suitable for Chinese clients. While the trading fees are very attractive, there are a lot of functionalities which are available only in one language that cannot be accessed by other users. DigiFinex implicated by many reputable research companies that it has artificially elevated trading volumes.
Meanwhile, another detrimental factor is that DigiFinex is not so active on social media, whereas Binance team are very active on social media, even when there were issues with the platform. Moreover, Digifinex works on providing more credibility and reliability, characteristics which are sought out in crypto exchanges nowadays.
For western user’s, Binance is a popular exchange which is a far better choice. However, DigiFinex may try to reach traders outside of China in future, while Binance is on a global level and maintaining its high trading volume.