What is DigiFinex?
Digifinex is a cryptocurrency that has its headquarters in Singapore but its registered office in the Seychelles. It has been active since 2018. The exchange is owned by the company Digifinex Limited. It’s founders include individuals from well-known companies such as Xunlei, Tencent, Baidu and HP.
This exchange has a solid 24 hour trading volume, almost always exceeding USD 1 billion on a 24-hour basis. On the date of last updating this review (2 September 2021), the 24-hour trading volume was USD 1.67 billion.
Why do so many exchanges not allow US citizens to open accounts with them? The answer has only three letters. S, E and C (the Securities Exchange Commission). The reason the SEC is so scary is because the US does not allow foreign companies to solicit US investors, unless those foreign companies are also registered in the US (with the SEC). If foreign companies solicit US investors anyway, the SEC can sue them. There are many examples of when the SEC has sued crypto exchanges, one of which being when they sued EtherDelta for operating an unregistered exchange. Another example was when they sued Bitfinex and claimed that the stablecoin Tether (USDT) was misleading investors. It is very likely that more cases will follow.
Digifinex does not allow US-investors on its exchange. So if you’re from the US and would like to engage in crypto trading, you will have to look elsewhere. Luckily for you, if you go to the Exchange List and use our Exchange Filters, you can sort the exchanges based on whether or not they accept US-investors.
Digifinex Trading View
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you. The below is a picture of the trading view at Digifinex:
DigiFinex Trading fees
This Singaporean cryptocurrency exchange doesn’t charge different fees between takers and makers. Their fee model is instead a “flat fee model”. Their flat fee model is 0.20%. This is slightly below the global industry average sitting at 0.25%.
DigiFinex Withdrawal fees
Many exchanges have competitive trading fees but then hit you on the way out with their withdrawal fees. Not Digifinex however.
This exchange charges you 0.0003 BTC when you withdraw BTC. This is far below the global industry average.
This trading platform previously did not accept any deposits of fiat currency. This meant that new cryptocurrency investors (i.e., investors without any previous holdings of cryptocurrencies) couldn’t trade here. However, the platform recently enabled credit card deposits. So if you have a MasterCard or a VISA-card, you can purchase cryptocurrency also at this trading platform.