Digifinex | Business24-7

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Written by Stefan Grasic Edited by Giles Thomas Fact Checked by Tomislav Turcin

7 March 2023

3 March 2023

Page Summary

DigiFinex is a cryptocurrency exchange founded in 2018 that offers spot cryptocurrency trading, leveraged cryptocurrency trading, and crypto ETF trading. Users can buy cryptocurrencies at DigiFinex with a credit card and trade them with up to 100x leverage. DigiFinex is the 10th largest cryptocurrency exchange globally in trading volume. Users have to complete a KYC process to be able to buy and trade crypto at DigiFinex.

About DigiFinex

DigiFinex is managed by Singapore-based DigiFinex Limited. Kiana Shek founded DigiFinex in 2018 and continues to expand it to this day. DigiFinex is mostly active in Malaysia, South Korea, China, and Hong Kong. DigiFinex has a partnership with Simplex, where users can buy Bitcoin, Ethereum, Litecoin, and other cryptos.

DigiFinex Features

DigiFinex offers leveraged cryptocurrency trading, spot trading, spread betting, APIs, and has iOS and Android apps available. Other features include staking services, the option to buy cryptos with a credit card, and 24/7 available support.

Users can trade over 100 different cryptocurrencies on DigiFinex with up to 100x leverage. DigiFinex is regulated by the Australia Regulated Digital Currency Exchange Service and the Monetary Authority of Singapore. DigiFinex has KYC procedures in place and allows users to protect their accounts with two-factor authentication.

DigiFinex Safety and Security

DigiFinex is a safe and secure cryptocurrency exchange that is protected with SSL encryption, has never been hacked, and users have to go through an extensive KYC process to be able to buy and trade cryptos with them. DigiFinex stores all client’s funds in secure physical vault storage and cold wallet storage.

DigiFinex Products and Services

DigiFinex offers spot trading, perpetual swaps, an insurance fund, and DRV tokens. With spot trading, traders can buy and sell CFDs on hundreds of cryptocurrency pairs. Users can trade perpetual swaps on DigiFinex without expiry date and no trading of the underlying asset. DigiFinex tracks all swap prices closely. DigiFinex’s insurance fund avoids auto-deleverage liquidations. DRV is the native token of DigiDeriv like Binance’s BNB. There are 100 million DRV tokens and users can earn them through trading with DigiFinex.

Pros

Over 100 cryptocurrency (pairs) available
Offers leveraged trading
Native ERC-20 token based on Ethereum
Doesn’t charge maker/taker fees
Low withdrawal fees
Earn interest with staking services

Cons

No US and Singapore traders accepted
Limited features for large-volume traders

How to Open a DigiFinex account

You open a DigiFinex account by going to their website, clicking on ‘register’, filling in your details and email address, and clicking ‘register’ again. DigiFinex will send you a verification code by email which you need to enter to finalize the signup process. You will then need to provide proof of identification before being able to buy or trade crypto. You can do this by uploading a photo of your passport, driver’s license, or ID card. With a verified account you have access to all DigiFinex’s features.

DigiFinex Trading Platform

The DigiFinex trading platform features charts by TradingView that show cryptocurrency prices in real-time, order book, and current trade sentiments. There are two versions of the trading platform: pro and primary. With the pro version, traders can use technical analysis tools. Both trading platforms offer one-click navigation and users can easily switch between spot and margin trading.

DigiFinex Fees

DigiFinex charges a taker fee on every order, overnight fees, and withdrawal fees. The taker fee is set at 0,20% and can be lowered to 0,06% for VIP traders. The overnight fees on leveraged positions are 0,05% per day. Withdrawal fees in fiat are 3,5% or $10, whichever is higher. Current miner fees determine DigiFinex’s withdrawal fees.

DigiFinex Deposits and Withdrawals

Users can buy crypto on DigiFinex with MasterCard and Visa credit cards or deposit cryptocurrency from an external wallet. It is possible to withdraw both fiat and cryptocurrency. To deposit cryptocurrency, users have to follow a 3-step process. They need to select the desired cryptocurrency, copy the deposit address and then transfer the funds from their wallet to their exchange wallet.

DigiFinex App

DigiFinex’s trading app has all the same features as the web-based trading platform. The app is available on both Android and iOS devices has been downloaded over 50,000 times, and has good review ratings. Users can only download the app after having gone through the KYC process.

DigiFinex Customer Support

DigiFinex customer support is 24/7 available in English via live chat and email. DigiFinex has a network of FAQ pages available on their website. Here you can find answers and solutions to common questions and issues.

UAE Investors

DigiFinex focuses on the Asian market but accepts traders and investors from the United Arab Emirates. Note that you have to go through a KYC process to be able to trade on DigiFinex.

DigiFinex Review 2023 – Our Verdict

DigiFinex offers spot and leveraged trading of 100+ cryptocurrencies, staking services, and excellent customer service. Their fees are low compared to other cryptocurrency exchanges and they accept traders and investors from the United Arab Emirates. We recommend cryptocurrency traders and investors sign up at DigiFinex.

FAQ

How do I withdraw crypto from DigiFinex?

By logging in, clicking ‘withdraw’, selecting the cryptocurrency to withdraw, filling in the amount to withdraw and the destination address tag, copying the verification code, and clicking ‘submit’.

Is trading crypto at DigiFinex legal?

Yes, for United Arab Emirates-based traders and investors it is legal to trade crypto at DigiFinex.

Is trading crypto at DigiFinex safe?

Yes, DigiFinex’s website, trading platform, and trading app are protected with SSL encryption and have never been hacked.

Disclaimer

Stefan Grasic

Stefan Grasic (Dipl.-Jur) is the owner of Business24-7 and has considerable experience in the financial and investment niche, but also enjoys writing articles for the general readership. Stefan is an active stock, CFD, crypto and general investment researcher, advising blockchain companies such as Blockbird, GoCrypto, Hive Terminal at their start up level. Stefan began trading in 2010 as a college student. Money was tight,…

Digifinex Review