A crypto exchange guide must provide reviews of all of the crypto exchanges out there, so that you can find the right one for you. This review of Digifinex consists of four parts: general info, fees, deposit methods and security.
Digifinex is a cryptocurrency that has its headquarters in Singapore but its registered office in the Seychelles. This exchange is one of the six exchanges registered in the Seychelles.
The exchange site is owned by the company Digifinex Limited. It’s founders include individuals from well-known companies such as Xunlei, Tencent, Baidu and HP.
The exchange has an impressive liquidity, and it is regularly among the top 25 cryptocurrency exchanges in terms of market capitalisation. At the day of first writing this review, the 24 hour volume was only USD 135 million. However, on the date of last updating this review (22 March 2020, right in the middle of the crisis with COVID-19), the 24 hour trading volume had increased substantially and was now 1.23 billion. This gave it place no. 26 on Coinmarketcap's list of exchanges based on 24 hour trading volume.
Digifinex does not explicitly state that US-investors are prohibited from trading. Accordingly, we do believe that US-investors can trade here. Any US-investors interested in trading here should in any event form their own opinion on any issues arising from their citizenship or residency.
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.