In the six years since its launch, the DigiFinex exchange has grown into one of the most popular exchanges in the crowded trading space. It features a comprehensive trading offering, which involves over 700 digital currencies and a wide range of futures.In this review, we are going to examine the core features of DigiFinex, including spot and derivatives markets, the Launchpad platform, the company’s crypto-powered credit card offering, exchange fees, and more.It is worth noting that DigiFinex is far from the only choice available to crypto traders. Exchanges like Binance, Kraken, and Coinbase are considered some of the leading crypto exchanges in the market today. However, KuCoin arguably stands out as one of the best options, both thanks to its impressive set of features and a global presence. In addition, KuCoin is offering a special $3,200 promotion for new users, which is a great way to kickstart your trading journey.Launched in 2017, DigiFinex is a cryptocurrency exchange headquartered in Singapore. The exchange has a global reach, serving over 6 million customers from more than 150 countries. It offers a variety of features, including spot trading, margin trading, derivatives trading, and staking. DigiFinex is a popular exchange among traders and investors due to its high liquidity and low trading fees.Basic information about the DigiFinex exchange:DigiFinex offers a comprehensive suite of trading products and tools alongside a plethora of features aimed at cryptocurrency users, like a crypto-powered credit card, loans, a Launchpad platform, and more. We’ll explore each of these in more detail in the following sections.We start this review with an overview of DigiFinex’s trading features, which are the most important component of any crypto trading platform. DigiFinex supports over 700 digital currency trading pairs across hundreds of trading pairs. Image source: DigiFinexThe trading interface of DigiFinex resembles interfaces of other crypto exchanges, and most settings and features are just where you’d expect them to be. The left-hand side of the screen is reserved for trading pairs, the right side is for the order book. Meanwhile, the center is occupied by a chart view, which can display various technical analysis indicators.Most cryptocurrency traders are interested in spot market trades, which are essentially trades that involve the buying and selling of physical digital assets (meaning that you are buying actual digital assets, not their derivatives). The fees start at 0.20% and can be further lowered to 0.06% if you are holding DigiFinexToken.Supported cryptocurrencies include:DigiFinex offers both USDT and coin-margined derivatives trading. The difference here is that coin-margined trading requires a specific cryptocurrency as collateral, while USDT-margined, as the name implies, requires Tether (USDT). DigiFinex charges a 0.05% flat rate on margin trading interest rates.To mitigate the effects of high volatility, which is not exactly an uncommon occurrence in crypto markets, DigiFinex has a special perpetual insurance fund, which is designed to prevent a liquidity crunch when the markets become particularly unstable.Futures contracts:Users can buy cryptocurrency with a credit or debit card through DigiFinex thanks to the exchange’s integration with multiple third-party crypto onramp providers, including leading onramps such as Simplex, Mercuryo and Banxa.Users can purchase a broad range of cryptocurrencies including Tether USDT, USD Coin, Bitcoin, Ethereum, Cardano, XRP, Algorand and other major crypto assets. After the card payment is complete and the transaction is processed, the purchased crypto assets are deposited in the user’s DigiFinex wallet. Please note that you will need to pass a KYC (know your customer) check and verify your identity before you can purchase crypto using this method.The Launchpad platform allows DigiFinex users to invest in blockchain projects before they hit the mainstream. This can provide a good investment opportunity, as some of these projects have been known to explode in value following their Launchpad campaigns.It is worth noting that users from certain regions are not allowed to participate in Launchpad campaigns. The list of restricted regions include: Hong Kong, China mainland, Central Africa, Iran, Iraq, Yemen, Syria, Virgin Islands (USA), Somalia, Sultan, Burma, Bangladesh, the United States, Libya, Lebanon, Crimea, Zimbabwe, Cuba, Congo, Ecuador, North Korea, Bolivia, under the relevant laws and regulations.The Wealth platform offers different investment opportunities for crypto users. They range from various funds and crypto staking opportunities, which can provide lucrative passive income opportunities. In addition, there’s the option to take out crypto loans, which are loans that require users to provide their digital assets as collateral in exchange for a loan.DigiFinex Card is a USDT-denominated credit card that allows users to spend their crypto balance wherever in the world. There’s no spending limit, and the exchange charges no annual fees for the card. It is worth noting that the card provides no cashback opportunities, like some competitors’ crypto credit cards with spending rewards.Image source: DigiFinexDigiFinex has introduced a copy trading feature that allows users to automatically follow the moves made by experienced traders. Users can easily browse the most successful traders across various time frames, and find detailed information about specific traders such as their win rate, total number of trades, profit sharing ratio and return realized by followers. It’s also possible to see the trader’s history of trades so users can get an idea of what types of strategies the trader prefers to employ.DigiFinexToken (DFT) is the native digital asset of the DigiFinex cryptocurrency exchange. It can be traded on spot markets and provides holders with the benefit of lower trading fees when trading on the platform. The fee for trading can be lowered from 0.20% for regular users down to 0.06% for DFT holders.The cloud mining and merged mining feature include the purchasing, transportation, hosting, and maintenance of mining machines. This can allow interested users to mine Bitcoin with computational equipment of different computational power. In order to participate in the offering, you need to subscribe to available mining groups through DigiFinex.The DigiFinex exchange charges anywhere from 0.2% to 0.5% for spot trading fees on its platform. it is worth noting that DFT holders can further slash fees down to 0.06%.The DigiFinex trading platform is available for users of Android and iOS devices natively, which means that the exchange might be a good option if you are often trading on the go. While the apps don’t boast all the features available on the desktop platform, they provide a stable and easy-to-use experience for mobile traders.DigiFinex is a reputable cryptocurrency exchange that offers a variety of features and services. It is a popular exchange among traders and investors due to its high liquidity and low trading fees. However, it is important to do your own research before using any cryptocurrency exchange.DigiFinex is generally considered to be a safe and legit exchange. It has been operating since 2017 and has a good reputation among users. However, it is important to note that no cryptocurrency exchange is completely risk-free. It is always a good idea to store your cryptocurrency assets in a cold wallet, such as a hardware wallet. If you are especially concerned about safety, you might consider checking our selection of the safest crypto exchanges.DigiFinex is headquartered in Singapore. However, it also has offices in other countries, such as Hong Kong, Japan, and South Korea.Yes, DigiFinex is available in the US. However, it is important to note that some of the features of the exchange may not be available to US users due to regulatory restrictions.The withdrawal fees on DigiFinex vary depending on the cryptocurrency you are withdrawing. For example, the withdrawal fee for Bitcoin is 0.0003 BTC.The trading fees on DigiFinex are relatively low. The maker fee is 0.20%-0.50%, and the taker fee ranges from 0.20% to 0.50% as well. The fees can be reduced to 0.06% if you hold the DFT cryptocurrency.DigiFinex is one of the largest Asian exchanges in the world, boating an international user base of more than 6 million registered users across 150+ countries. The exchange is easy to use and boasts numerous features beyond regular spot and derivatives trading, like crypto loans, staking, credit card, Launchpad, and more. If there’s anything to criticize about DigiFinex, it is the misreporting of its trading volume. The exchange says that it clears as much as $28 billion in trading volume per day, while the numbers provided through the API suggest a daily trading volume closer to $1 billion. While inflating trading numbers is not that uncommon, it nevertheless still leaves a bad taste in the mouth.Overall, DigiFinex is a good choice for cryptocurrency traders who might benefit from a large selection of trading options and are interested in derivatives trading, crypto loans, and other crypto-centric features. If you are willing to invest in the exchange’s native DFT token, then the offering becomes especially attractive thanks to very low fees. In closing, DigiFinex provides all the necessary tools and features a trader needs to invest in crypto successfully.
