DigiFinex is a cryptocurrency exchange that allows users to buy, sell, trade, save, and use cryptocurrencies. This DigiFinex review is an up-to-date, detailed analysis of the DigiFinex exchange, containing everything you need to know about DigiFinex and whether it’s the right exchange for you.
Digifinex exchange review
DigiFinex Global is a Seychelles-based cryptocurrency exchange platform owned by DigiFinex Limited. It was launched in 2018, and it quickly established itself as one of the most reliable digital coin financial exchanges. DFT is an ERC-20 token that is entirely based on the ETC smart contract system. It has 130 million DFTs in liquidity.
The company is constantly upgrading its system to ensure that trading runs smoothly and that all funds are secure. The core team, which includes the founder Kiana Shek, operates in Malaysia, South Korea, China, and Hong Kong. It has also been expanding its reach in order to attract more traders to trade on the platform. However, traders from the United States and Singapore among others are not permitted to trade at DigiFinex.
DigiFinex review: What is Digifinex?
DigiFinex was founded in 2017 in Seychelles and is headquartered in Hong Kong, with offices in Singapore, China, South Korea, and Australia. It is a cryptocurrency trading platform with over 4 million users around the world. The digital asset platform provides spot trading, leverage trading, perpetual swaps, and credit card purchases of digital assets.
DigiFinex is also one of the largest cryptocurrency exchanges in terms of trading volume. It supports over 700 cryptocurrencies, including major cryptos like Bitcoin and Ethereum, as well as a wide range of altcoins.
Digifinex Pros and Cons
This DigiFinex review outlines the pros and cons of DigiFinex exchange.
- Educational Resources: DigiFinex has one of the largest cryptocurrency exchange blogs, with extensive content on Blockchain, Cryptocurrencies, News, Expert Insights, and Trading Tips.
- Loaning crypto: DigiFinex registered users can obtain crypto loans. You can get instant large loans with daily interest rates as low as 0.02% and no agency fees.
- High liquidity: In terms of trading volume, DigiFinex is one of the top cryptocurrency exchanges. Upbit has a 24-hour volume of $1,678,950,973 as of this writing. As a result, it remains one of the top exchanges in terms of market capitalization.
- Several earning options: DigiFinex offers users the ability to earn annualized returns on certain products without having to trade. Staking is another option that allows users to earn interest on their assets.
- A wide array of cryptocurrencies: DigiFinex supports over 700 cryptocurrencies which is a wide array of cryptocurrencies to buy and sell. Hence DigiFinex is a one-stop platform for those looking to invest in a wide array of cryptocurrencies.
- Copy Trading: DigiFinex offers copy trading, allowing users to copy the trade moves of popular traders on the platform. This service allows users to choose a trader, and have orders automatically executed on their behalf, copying the moves made by another trader.
- Not available in the U.S.: DigiFinex clearly stated on its website that it currently does not offer services to the USA, Singapore, and a few other countries due to legal restrictions. So if you’re located in those areas you can check out our other cryptocurrency exchange reviews.
DigiFinex review: How to use DigiFinex
DigiFinex can be used with ease as the platform was designed for both beginners and professionals alike. There are also detailed guides, a help center, and FAQS for users. To begin using the platform you have to sign up, verify your identity to unlock limitations on your account then proceed to buy crypto and explore all of DigiFinex.
Digifinex Sign up
Visit DigiFinex. Now click on “Sign up”, located at the top right corner of the page.
In the pop-up insert your email address and click on the arrow. A 6-digit code will be sent to you. Copy and paste it in the required field, create a password, and then click on “Sign up.”
Note: Now you have now successfully signed up on DigiFinex in just two steps. But your verification is not complete until you have verified your identity.
DigiFinex KYC (Lv1. ID Document Verification)
DigiFinex without KYC sets your account on a limitation. So to unlock all limitations on your account you’ll have to complete the DigiFinex KYC process.
Login to your DigiFinex account. Place your mouse on the person icon located at the top right corner, then scroll down and click on “Real name verification.”
In the ID card verification section, click on “Verify now.”
Read the information on the pop-up, check the “Don’t open prompt again” box, and click on “Ok.”
In the Lv1. ID Document section, click on “Verify.”
In the pop-up click “Ok” to proceed.
To commence verification, check the box and click on “Next.”
Select your country and the type of document you’d like to upload. Then proceed to take clear pictures of the front and back if you have not done that. Click on the arrow button to upload your documents, then click on “Next.”
Note: If you don’t have your documents on your PC, you can then click on “Continue to Phone” and follow the on-screen instructions carefully.
Now if you’re sure the details are correct, click on “Next” to proceed.
Note: Now you’re done with the LV1. ID document verification. You can wait a few minutes, and if everything is right, you’ll be verified in no time. On successful, this unlocks a 24h Withdrawal Limit of 50000 USDT.
DigiFinex KYC (Lv2. Liveness Check Verification)
Click on “Verify” at the Lv2. Liveness Check section
On the next page follow the on-screen instructions to take a selfie for face verification, submit it after completion, and wait for the system to automatically review it.
Note: If the audit fails, please refer to the system to inform the reason for the failure, re-submit the real-name identification materials or contact customer service to confirm the specific reasons for the audit failure (do not submit the materials multiple times or repeatedly!)
DigiFinex KYC (Lv3. Proof of Residence Verification)
Click on “Verify” on the Lv3. Proof of Residence section
Now you’ll need to upload a proof of address
Note: The document should contain your full name and address, and should not exceed 3 months.
DigiFinex review: How to enable 2FA on DigiFinex
Login to your account and place your mouse on the person icon located at the top right corner of the page, then scroll down and click on “2 Factor Authentication.”
To proceed, you’ll need to download and install the Google Authenticator application (here). Then click on “Next.”
Open the authenticator and use it to scan the QR code displayed on your screen, then click on “Next.”
A 6-digit code will be displayed on your mobile screen. Copy and paste it in the Google verification code section. Then, in the email verification code section, click on “Send.” A 6-digit code will be sent to you. Copy and paste it into the email verification code field. Also, to top up your security, you can check the Use Google Authentication to Login box and finally click on “Activate.”
Note: Google Authentication code changes every 30 seconds, so make sure you use it before it expires. To activate your 2FA successfully, the 6-digit code gotten from both the email and Google Authenticator needs to be used within their specified window (time frame).
DigiFinex review: DigiFinex APP
DigiFinex provides its users with a mobile trading app. The trading app has been downloaded over 500,000 times from the Google Play store. Users can download the app and begin trading after completing the registration process.
The app is available for Android and iOS devices. The DigiFinex exchange app has a ⭐ rating of 3.1 in over 11k reviews on playstore and has accumulated a pool of negative user reviews. This shows DigiFinex review and complaint from a user
DigiFinex review: DigiFinex Fees
The transaction fee for the Spot transaction is 0.2%~0.5% per order. On October 15, 2018, the DigiFinex exchange launched the DFT (Discounted Transaction Fee) function, which offers a 25% discount. Users who transact and participate in activities on the DigiFinex exchange automatically have the DFT discount function enabled.
If a transaction fee is required, the system will discount the fee for the required payment and deduct the equivalent value of DFT based on market value. DFT holders are eligible for the discount. You can also become a VIP user to receive even lower transaction fees, with a minimum fee of 0.060%.
DigiFinex Withdrawal Fees
Note that the withdrawal fees can be subject to adjustment according to the blockchain conditions on a regular basis.
DigiFinex review: DigiFinex Supported Cryptocurrencies
DigiFinex supports over 700 cryptocurrencies to buy and sell, which is a huge number for those looking to invest in a wide array of cryptocurrencies. Some of them include:
- Bitcoin Cash
DigiFinex Token (DFT)
DFT (DigiFinex Token) is the DigiFinex digital currency exchange platform’s native asset. It is the focal point around which the main components of the DigiFinex exchange are built. The current token supply of DFT is 2.1 billion. Holders of the DFT token have access to a variety of services and benefits on the platform. Some of its use cases include:
- 25% fee discounts when they hold and lock a specific amount of DFT on the platform.
- Additional staking and airdrop rewards when they lock their tokens.
- DFT holders can also receive updates on new project listings on DigiFinex.
- The token is also used to enroll users in the DFT Superstar program, which offers additional benefits.
As of this writing, the DigiFinex Token price is $0.028675 USD, with a 24-hour trading volume of $70,655.14 USD. In addition, if you’re wondering where to buy DigiFinex Token at the moment, the top cryptocurrency exchange for trading in DigiFinex Token stock is currently DigiFinex.
DigiFinex review: DigiFinex Restricted Countries
This DigiFinex review displays a list of countries that are restricted to accessing DigiFinex services. The exchange doesn’t offer services to USA citizens due to legal restrictions and other countries like:
- Sri Lanka
- Trinidad and Tobago
DigiFinex Customer Service
DigiFinex support is available 24 hours a day, 7 days a week. The exchange is more self-service in nature, with a help center containing educational resources, withdrawal fees, deposit fees, trading fees, transaction history, and so on. There is also a FAQ section, and users can open and submit an online ticket.
Users can also chat with executives in real time to get real-time customer support. As a result, members can now contact experts for quick answers to questions about cryptocurrency exchange. As for customer experience, DigiFinex has a ⭐ rating of 2.9 in 47 user reviews on Trustpilot. This is considered an average rating on Trustpilot with mixed user reviews, but some users still have positive things to say.
DigiFinex review: Is DigiFinex legit?
An exchange’s security is very important and cannot be overemphasized. The platform isn’t really transparent with its security, but this DigiFinex review covers a few features we were able to find out, which include:
Cold Storage: It employs the best storage procedure for storing cryptocurrencies. Most of its coins are stored in cold storage which is free from any sort of online penetration by hackers.
Insurance fund: DigiFinex has an insurance fund with over $500k as a contingency incase of a hack or breach on its exchange security
Know Your Customer (KYC): It imposes KYC regulations on its users before they can access the majority of the website’s functions. However, it would be preferable if it enforced KYC regulations before allowing users to participate in any platform activity.
Two-Factor Authentication: Before approving withdrawals, it also encourages user accountability by requiring two-factor authentication.
DigiFinex review: Bottom line
This Digifinex review shows that it is a top crypto exchange that offers a large number of cryptocurrencies (over 700) as well as a variety of features such as staking and mining, amongst others, and receives rewards, making it the most appealing exchange that allows users to make passive income without having to trade. Furthermore, the platform provides massive discounts to token holders, as well as airdrops and staking rewards.