Are you considering making a major investment in cryptocurrency? If so, then you’ll want to be sure that the platform you choose is safe and reliable. That’s why we’re taking an inside look at DigiFinex in this comprehensive review. By diving deep into its features, security protocols, account opening process, and customer support offerings. So here is a DigiFinex review to help you decide if it is right for your needs.

What Is DigiFinex? DigiFinex Exchange Review

What Is Digifinex

DigiFinex is one of the world’s top ten centralized exchanges (CEXs) by liquidity and trading volume. The platform was launched in 2017 by its founder Ned Kee and co-founders like Jia Pu and Kiana Shek. Because the exchange founding team had a wealth of knowledge in tech, they designed DigiFinex to be a highly reliable trading platform.

As a centralized exchange, DigiFinex can regulate and oversee its user’s trading activities. This includes the coins they trade and the validity of their transactions. Such verification makes the platform highly secure. 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.

Because of such factors, DigiFinex has become a popular CEX in crypto. Although the platform limits DigiFinex US customers from creating accounts, the platform has four million users, supports at least 300 altcoins, and trades an estimated $862 million daily. DigiFine users can access the platform as a browser or mobile application on Android and iOS devices.

Official Websitehttps://www.digifinex.com/ 
Launched in 2017
Headquarters Hong Kong, Singapore
Native TokenDFT
24-Hour Trade Volume$862,932,836.52
Supported CryptocurrencyBitcoin (BTC)
Ethereum (ETH)
USD Coin (USDC)
DigiFinex Token (DFT)
Wrapped Bitcoin (WBTC)
Tether (XRP)
Aptos (APT)
Onyxcoin (XCN)
Solana (SOL)
Litecoin (LTC)
FeesDeposit fees – Zero
Transaction fees – 0.2%
Withdrawal fees – Depends on the token
VIP fees – 0.060%
DepositMinimum deposit 0.001 BTC
Mobile AppAndroid & iOS
Customer Support Live chat, Mail, and Help desk

DigiFinex Token

The DigiFinex exchange has a DigiFinex native token called DigiFinex Token DTF. This ERC-20 cryptocurrency powers up the exchange, allowing DTF holders certain benefits and privileges. For example, DFT holders can have their trading fees reduced by as much as 25%. Similarly, the amount of DFT in one’s account determines their VIP tier, and the tier defines varying fees for transactions on the platform.

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Why Should You Use DigiFinex?

There are several reasons why crypto traders and enthusiasts should use DigiFinex. This crypto trading platform offers various features and services to help crypto investors build their portfolios and increase their profit margins.

DigiFinex provides a crypto quant fund for its high-rolling users. With this crypto hedge fund, investors with a lot of money to put into crypto can use crypto analysis tools and concepts like arbitrage and low latency to get early market predictions and maximize their returns.

Crypto-backed loans are another leading reason to consider using DigiFinex. Instead of high-interest rates that demand huge collaterals, DigiFinex users can get loans backed by the crypto in their accounts.

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.

Is DigiFinex Safe & Legit?

DigiFinex is one of the safest and most legit centralized exchanges globally. Because it’s a centralized exchange, there is a lot of oversight on the activities on the platform, the individuals accessing it, and the currencies supported. 

The comprehensive KYC process and the SEC-level IT audits are among these strict oversight procedures. This exchange also complies with the Anti-Money Laundering (AML) and Accounting and Corporate Regulatory Authority (ACRA) laws in Singapore that regulate cryptocurrency and accounting bodies. 

DigiFinex supports various security features, including HDM wallet technology and two-factor authentication. The exchange’s technical infrastructure is also designed to detect and deal with early-stage security threats. 

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DigiFinex Proof of Reserve

Proof Of Reserve

Proof of Reserve (PoR) is a process that proves an exchange has the number of funds it claims to have in its reserves. It shows users that the exchange has fully backed their assets using crypto reserves. DigiFinex has an active and easily accessible PoR system that users can access once they meet the requirements below.

  • Confirmation of Wallet Ownership: Users must confirm they own the wallet associated with a particular asset.
  • Snapshot of Users’ Balances: DigiFinex users need to provide a snapshot of their spot, funds, derivatives, P&L, and options balances at a certain period. This information is used to generate a Markle tree.
  • Merkle Tree: A Markle tree represents the data structure containing the user’s asset reserves. It shows user IDs and balances in the form of tree leaves and branches, also called nodes, and the final reserve is the tree’s roots. Any changes made to the user’s account balance reflect on the tree.
Merkle Tree

Key Services and Features

DigiFinex is one of the best crypto exchange platforms, and its position mostly depends on its features. This trading platform is known for its user-centric and reliable features and services. Let’s explore critical characteristics that place DigiFinex at the top of the crypto trading industry.

Crypto Quant Fund

Cryptocurrency quantitative funds or crypto quant funds are a popular trend in the crypto markets for investors with high sums of money to invest in crypto. These funds operate like hedge funds but have the advantage of crypto quantitative analysis tools to make them even more profitable.

For instance, a crypto quant fund can apply concepts like arbitrage to earn more from price variations in different markets. They also use low-latency trading, which helps in rapidly detecting the slightest changes in the market so that investors can have an advantage. 

DigiFinex’s crypto quant funds protect high-stake investors from inflation and crypto price turbulence. These funds diversify the investor’s crypto portfolio, reduce risk, and apply advanced trading tools to predict and navigate the markets safely.

Crypto-Backed Loans

Another impressive feature that DigiFinex users enjoy is the crypto-backed loan feature. This feature allows DigiFinex account holders to borrow loans using cryptocurrency as collateral. The borrower typically submits a cryptocurrency as collateral, which the exchange uses as liquidity. Digital assets like Bitcoin and Ethereum can be used as collateral.

DigiFinex’s crypto loans generate a 0.02% daily interest rate and have no attached qualification requirement. All a borrower needs to do is to be a verified DigiFinex user and meet the collateral amount required for the loan they need. Once users repay the loan, they get back the tokens they offered as collateral.

Cloud Mining

Traditional Bitcoin mining is a power-intensive, resource-dependent activity. Miners often require expensive mining rigs that generate hashes painstakingly slowly. Slow Bitcoin mining generates low revenue, leaving many small-scale miners with little to show for their efforts.

However, cloud mining opportunities, like the one offered by DigifFinex, improve the ease and profitability of Bitcoin mining. This practice eliminates the need for high-power mining rigs, reducing the upfront investment cost. It is also optimized to generate hashes faster, allowing miners to mine and earn more. 

Cloud miners on DigiFinex rely on the platform’s technical infrastructure to access the cloud. Through the DigiFinex browser or mobile app, miners can easily access the cloud mining option. The rewards earned from mining are paid after every 24 hours and are divided based on the miner’s arithmetic power. Arithmetic power is the number of hash collisions a miner can perform per second.

Launch Pad

Besides allowing crypto traders to buy and sell cryptocurrency, DigiFinex also provides a platform to speculate and invest early in upcoming tokens. The DigiFinex launchpad vets upcoming cryptocurrencies and list the most promising coins. 

Here, crypto investors can get insights on new crypto projects they can invest in. Investors can get information about airdrops, discounts, and initial coin offering (ICO) opportunities. However, this feature limits users from specific regions. DigiFinex traders from Yemen, Syria, Iraq, mainland China, Iran, Hong Kong, Central Africa, Cuba, Somalia, North Korea, Libya, Lebanon, and the USA, cannot participate in the launch pad’s offerings. 

Trading Options

Another primary service that DigiFinex offers its users is a variety of trading options. The platform is famous for its spot, leverage, and swap trading. It is also renowned for the perpetual and fiat-to-crypto trades that it supports. 

The range of trading options offered on DigiFinex is impressive because they allow users increased flexibility. With Spot trading, traders can gain assets or profit from them. Margin trading allows users to take bigger investments and get higher returns, while perpetual trades provide a safer earning option that does not involve actual asset transfers. 

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Pros and Cons of Trading on DigiFinex

There are several upsides to trading on DigiFinex. 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.

ProsCons
Supports over 300 altcoinsInaccessible in some countries including the U.S.
Has multiple trading options including Spot, Margin, Perpetual and Fiat to Crypto tradesHas limited trading tools to simplify trading
Has an Ethereum-based native token that gives holders discounts on transaction and withdrawal feesHas few predictive and analytical tools for complex trading
Has crypto quant funds for high-stake investors
Supports cloud mining
Has launchpads to help investors find profitable upcoming digital currencies.

Fees

Deposit Fees

DigiFinex does not charge users for depositing funds into the exchange. Traders can add any sum of funds to the platform for zero rates. However, if the funds are transferred from other platforms, standing charges from the third-party platform may apply.

Transaction Fees

Transaction Fee

Trading on DigiFinex attracts transaction charges. These costs vary based on the type of trading option selected and the 30-day transaction volume. However, the fee often ranges between 0.2% to 0.5%. However, the platform has a discounted fee policy, which allows DFT holders to pay less for every transaction. 

This policy lets DFT holders get as much as a 25% discount, leaving some high-tier VIP members with transaction fees, also known as makers fees, that are as low as 0.060%. Typically, the DFT discount feature is automated. The system automatically enables discounts as soon as one purchase DFT. 

DigiFinex also charges a takers fee of 0.20%. However, based on a trader’s 30-day transaction volume or the amount of DFT they own, this figure can drop to 0.080%. The platform’s VIP tier system defines the amount payable.

Withdrawal Fee

Withdrawal Fee

Withdrawal fees on DigiFinex depend on the currency being withdrawn. Different crypto assets require varying amounts of withdrawal fees. Similarly, each token has its unique withdrawal limit, prescribed on DigiFinex’s website.

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Security

DigiFInex is one of the safest crypto exchanges. This platform employs a custom-made security system called HDM wallet technology which provides multi-layered signature protection for its users. HDM wallet technology combines a single cold wallet with multiple hot wallets to ensure transactions are only made with several authorization levels. Additionally, the platform uses two-factor authentication to verify users and keep out any unauthorized third parties.

Besides that, the exchange has advanced infrastructure to detect security threats like DDoS attacks and other inconveniences that users may experience, like unscheduled downtime. Using SEC security audits, DigiFinex’s systems can review all logs and modifications made on its servers and identify any ongoing or scheduled malicious activities.

DigiFinex also has human-intervened security, where it assigns a compliance officer to oversee and coordinate all regulatory issues. Legally, this trading platform adheres to Anti Money Laundering laws and regulations. These laws demand that the platform follow strict identification procedures for business and individual clients.

Does Digifinex Have Mandatory KYC?

The DigiFinex exchange has a mandatory Know Your Customer (KYC) process. This is the process users require to complete before their accounts can be rendered active on the exchange. DigiFinex’s KYC process is lengthy and extensive. The exchange ensures every account is strictly verified to reduce malicious activity on the platform.

Individual DigiFinex users must meet specific requirements to complete the basic KYC verification process. Here is a list of what traders need to prepare before application.

  • Name
  • Date and place of birth
  • An operational phone number
  • A valid email address
  • Copy of valid identity documents, like an I.D. or a driver’s license
  • Proof of address

Organizations seeking accounts on DigiFinex also have to complete their KYC. Below are the requirements for a successful organizational KYC verification in DigiFinex.

  • Names of representatives
  • Valid photo identification for the company’s directors
  • Company profile description
  • Proof of address
  • Company M&A proof

Supported Cryptocurrencies

There are at least 300 altcoins supported on the platform. This gives investors a wide variety of digital assets to trade and profit from. Here’s a list of the highest-ranking coins on the platform.

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • USD Coin (USDC)
  • DigiFinex Token (DFT)
  • Wrapped Bitcoin (WBTC)
  • Tether (XRP)
  • Aptos (APT)
  • Onyxcoin (XCN)
  • Solana (SOL)
  • Litecoin (LTC)

DigiFinex is also home to at least 500 trading pairs. Here’s a list of the platform’s top ten most lucrative trading pairs.

  • BTC/USDC
  • ETH/USDC
  • USDC/USDT
  • BUSD/USDT
  • WBTC/BTC
  • APT/USDT
  • XRP/USDT
  • XCN/USDT
  • SOL/USDT
  • LTC/USDT
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DigiFinex Gives You The Flexibility to Make Centralized Crypto Investments

If you’re still not comfortable with your crypto being managed by autonomous contracts, or you’d prefer a bit more regulation and oversight when trading digital assets, DigiFinex is the way to go. 

This centralized crypto trading platform supports over 300 crypto coins. It has multiple trading options, including Spot, Margin, Perpetual, and Fiat to Crypto trades. Additionally, DigiFinex offers high-stake investors crypto quant funds to secure and increase their earnings while maintaining high security and regulatory standards. 

FAQs

Where is DigiFinex located?

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.

Can I withdraw from DigiFinex without KYC?

It is possible to withdraw funds from DigiFinex without completing the KYC process. However, you can only withdraw a minimum amount of money. Without ID verification, DigiFinex users can only withdraw a maximum of 1BTC. However, with complete I.D. verification, this amount will increase to about 50BTC daily.

Completing the KYC process on DigiFinex requires a lot of documentation, but it is worth it. For individual users, the process requires applicants to submit their name, date, and place of birth, an operational phone number, a valid email address, a copy of a valid identity document, like an I.D. or a driver’s license, and proof of address. On the other hand, business users need to submit names of representatives, valid photo identification for the company’s directors, a company profile description, proof of address, and company M&A proof.

What is the minimum deposit for DigiFinex?

The minimum deposit acceptable on DigiFinex is 0.001BTC. Any amount lower than this will result in a failed transaction. The exchange also has a minimum withdrawal request that depends on the coin you want to withdraw. To the minimum amount for a coin you want to withdraw, you can check the DigiFinex deposit and withdrawal fees page for more details. Keep in mind, however, that the amounts can change based on the prevailing market circumstances.

Can you use DigiFinex in the U.S.?

DigiFinex US customers can not access the platform or even register accounts. Other countries where DigiFinex is unavailable include Yemen, Syria, Iraq, mainland China, Iran, Hong Kong, Central Africa, Cuba, Somalia, North Korea, Libya, and Lebanon.

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