DigiFinex Review

Hedge with Crypto aims to publish information that is factual and accurate as of the date of publication. For specific information about a cryptocurrency exchange or trading platform please visit that provider’s website. This information is general in nature and is for educational purposes only. Hedge with Crypto does not provide financial advice nor does it take into account your personal financial situation. We encourage you to seek financial advice from an independent financial advisor where appropriate and make your own enquiries.

Bottom line:

DigiFinex is a crypto trading platform that uses the native exchange token of the platform and powers the DigiFinex Ecosystem. Users can trade spots, leverage, perpetual swaps, and buy crypto. There are more than 500 trading pairs available which gives excellent flexibility for serious crypto traders. However, at the time of writing, trading volumes on DigiFinex have fallen dramatically and traders should stick with the larger exchanges like Binance and KuCoin to avoid excessive slippage.

DigiFinex Compared and Alternatives

EXCHANGE	CRYPTO ASSETS	TRADING FEES	RATING	PROMOTION	WEBSITE	REVIEW
Binance	385	0.1% (spot) and 0.02% / 0.04% (Futures)	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 4.8 / 5	Up to $100 welcome bonus	Visit Binance	Binance Review
ByBit	331 (608 trading pairs)	0% (spot), 0.06% / 0.01% (futures)	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 4.8 / 5	0% trading fees for 30 days (spot only)	Visit ByBit	ByBit Review
Coinbase	241	0.4% (maker), 0.6% (taker)	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 4.7 / 5	$5 BTC bonus (USA only)	Visit Coinbase	Coinbase Review

DigiFinex At A Glance

DigiFinex is a cryptocurrency trading platform with over 4 million users worldwide. The digital asset platform offers spot, leverage trading, perpetual swaps, and purchasing digital assets with a credit card. DigiFinex was once one of the largest crypto exchanges by trading volume. DigiFinex supports over 350 cryptocurrencies and over 500 trading pairs. Major crypto, such as Bitcoin, Ethereum, and Solana are supported, as well as a large selection of altcoins. There are over 100 trading pairs available in derivatives trading as well.

Registered in Seychelles in 2017 and operating in Hong Kong with offices in Singapore, China, South Korea, and Australia, DigiFinex appears to be a legit cryptocurrency exchange. DigiFinex is also a regulated cryptocurrency exchange in Australia and holds an exemption of provision of digital payment token services in Singapore by the regulatory body, MAS.

Some notable features we observed include:

• Trade crypto on spot, futures, or derivatives markets
• 0.2% flat trading fee
• Powerful charting with TradingView
• Mobile app with an average review rating of 4.5/5 stars
• Flexi-earn and crypto loan to earn interest on crypto
• 24/7 customer support

Exchange Name	DigiFinex
Supported Fiat Currency	USD, AUD, GBP & 100+ others (via third-party)
Accepted Payment Methods	Credit card only
Number Of Cryptocurrencies	395+
Trading Fees	0.2% per trade
Mobile App	Yes (Android and iOS)
Public Proof-of-Reserves	No

Review of the Top Features & Services

User Interface & Trading Experience

DigiFinex caters to cryptocurrency traders who need advanced charting, live order books, and multiple order types. DigiFinex has its own crypto charting software on the platform, as well as the ability to switch to Tradingview, which is renowned for its suite of indicators, charting and drawing tools.

There is a quick-jump menu to switch between spot and margin trading, and users can access a complete list of trading pairs with a single click. Users can also create a favorites list of their top crypto pairs, allowing quick access to select cryptocurrencies. There are several order types available, including market, limit, and stop limit orders. More advanced order types are not listed, though, including trailing orders.

Margin trading is available within the order window, with 3x and 5x leverage available. Compared to other leverage trading cryptocurrency exchanges, this is the basic offering and could be expanded to provide greater trade management and risk exposure.

Derivatives Trading

Trading derivatives up to 100x on DigiFinex has a similar feel to leading cryptocurrency leverage exchanges such as Binance or Bybit. Simply choose a crypto pair to trade, select an order entry type (e.g. market, limit or stop order), choose the position size using the slider (or manually) and click on ‘Buy' or ‘Sell'.Both long and short positions are available. Users that trade with margin will have the added option to select the amount of leverage up to 100:1.

• USDT Margining Futures. Perpetual futures trading with stablecoin-settled contracts. Up to 100x leverage available
• Coin Margined Futures. Perpetual futures trading is where the coin itself is the settlement currency for the contract. Up to 100x leverage available.
• Volatility. MOVE contracts represent the absolute value of the amount the price of a coin moves over a time period.

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.

Users can select from a list of expert traders, and see their past trades (and performance) before choosing. Copy Trading is part of the derivatives platform, and traders typically take long or short positions, usually with leverage, so there is a big risk of losing money using this service. Profits are shared with the trading experts on winning trades. To see how DigiFinex stacks up, compare it with our list of the best crypto-copy trading exchanges in this article.

Buying Crypto Directly

Similar to the best fiat-to-crypto exchanges in the world, DigiFinex users can top up their trading accounts and buy crypto using a credit card via Simplex, Mercuryo, or Wrye. The purchase limit is between $30 and $20,000. DigiFinex supports a total of 110 fiat currencies to purchase major cryptocurrencies such as Bitcoin, Ethereum, Litecoin, XRP, and many other altcoins.

Transaction fees vary by fiat gateway partner but are at least 3.5% or more. The total payment amount is inclusive of this fee. Transactions take on average 10-30 minutes to process and be deposited into the DigiFinex wallet.

Wealth Management

DigiFinex offers crypto funds as part of their “Wealth Management” offering, with funds being built by the DigiFinex Quant team. Users can invest in the funds directly, though this is a short-term investment. Terms are typically around 90 to 365 days, and the funds are locked during this time period.

Most carry a 1,000 USDT minimum, though there are some lower minimums on certain funds. And expected returns can vary by fund, anywhere from 0% – 50%. There are stable funds, and more advanced funds, with stable funds offering a more modest (but reliable) yield.

Crypto Loans

DigiFinex offers a crypto-backed loan platform that allows users to deposit crypto and borrow USDT in return. Loans are short-term, ranging anywhere from 7 to 60 days in length. Currently, BTC and ETH can be deposited as collateral, and you can borrow from 200 USDT up to 50,000 USDT.

Interest accrues daily on loans, and repayment cannot be made in partial payments. This means that repayment must be made, including any accumulated interest, in a single lump-sum payment. While there is no listed collateral amount, these loans are over-collateralized, meaning if you want to borrow 10,000 USDT, you will need to deposit more than 10,000 USDT worth of a crypto asset.

Loans are risky and can be liquidated if the value of your collateral drops below a certain threshold. Liquidation can occur if your loan goes over 80% loan-to-value (LTV), or if you are late repaying the loan in full.

Cloud (and Merged) Mining

DigiFinex has cloud mining and merged mining, allowing users to earn Bitcoin without needing to purchase their hardware. The mining rig is owned by DigiFinex, and users can invest in a perpetual mining contract for a 35 USDT minimum investment.

Included in the contract are the costs for hardware, hosting, and utilities, and users can earn a portion of the mining profits (some go to DigiFInex as well). Current returns are estimated at around 48% APR, though the low price of Bitcoin may affect those returns. While a useful feature, its metrics don't stack up against some of the better cloud mining sites in the market.

Creating An Account

Like all cryptocurrency exchanges today, to create an account with DigiFinex users will need to go through a registration process to create a trading account. DigiFinex exchange will prompt for a username, email address and security PIN which is sent to the email address. Verification of the email address completes the basic account creation process.

Verification Requirements

Proof of identification is not required immediately for trading. As one of the popular crypto exchanges without KYC, it will be limited to the basic verification level which restricts the maximum withdrawal amount. Completing KYC is recommended, as it unlocks more functionalities, including crypto loans, rewards, and raising the daily withdrawal limit to 10,000 USDT and above. Users will be required to provide their personal details such as name, date of birth, phone number, residential address, copy of a valid identification card or passport, and proof of address.

Depositing Funds

DigiFinex users can deposit the major cryptocurrency assets and stablecoins such as Tether (USDT) to start trading. Funds can be deposited on the desktop version or using the DigiFinex mobile trading app. DigiFinex exchange supports a wide variety of digital assets that can be used as collateral on the spot or leveraged markets.

The process to deposit funds is fairly standard and a 3-step process. Select the cryptocurrency, copy the unique deposit address and transfer funds from another exchange or a cryptocurrency hardware wallet. The DigiFinex website has a full video guide in the support section that explains how to deposit funds to the platform which will assist users.

Trading Volume & Liquidity

DigiFinex processes about $250 million in daily spot trading volume, which makes it a top 60 crypto exchange by volume. But for derivatives, it processes over $1.5 billion in daily volume, which is in the top 30 of all exchanges.

DigiFinex is given an average liquidity score of 447 (out of 1,000) by CoinMarketCap, which is below average. This means that users placing large spot orders may end up paying higher prices due to excess slippage, making the spread fees possibly higher than other exchanges.

DigiFinex Fees

The trading fee on DigiFinex spot exchange is a flat 0.2% per trade. The default spot trading fee is higher than its closest competitors such as Binance, KuCoin, Huobi and OkEX where fees are 0.1%. Long-term and position traders should also be aware there is an overnight interest rate of 0.05% when using the DigiFinex margin trading exchange. Users on the platform that hold DFT tokens and VIP members can reduce the fee to 0.06% per transaction which offers a good incentive to buy and hold the platform's native token.

To deposit funds to DigiFinex, there is no transaction fee. Withdrawal of cryptocurrency assets from the trading exchange will incur the standard blockchain network fee which is unavoidable. The withdrawal fee for each asset and limit can be found on the DigiFinex fees page.

DigiFinex App

DigiFinex exchange offers its users a mobile trading app that has been downloaded over 500,000 times with an average review rating of 4.9 out of 5 stars. The app is supported on Android and iOS devices. Traders can monitor the crypto market prices and trade positions at any time and anywhere using the DigiFinex app.

DigiFinex Customer Support

Digifinex has a 24/7 live chatbot as the main communication method with the support team. There is also a Telegram channel and other social media platforms that will respond to inquiries.

DigiFinex also has a ‘Help Center’ which provides guides, announcements, and troubleshooting for commonly asked questions. The help center is divided up into categories allowing users to quickly find what they are looking for. But the search feature is not great, as announcements and help articles are all returned in the search results, making it hard to find information.

Frequently Asked Questions

How We Rated DigiFinex

Atomic Wallet Criteria	Hedge With Crypto Rating
Features	4 / 5
Supported Fiat Currencies and Deposit Methods	2.5 / 5
Supported Cryptocurrencies and Trading Pairs	4.5 / 5
Fees	4.3 / 5
Ease of Use	4 / 5
Customer Support	3.7 / 5
Security Measures	3.8 / 5
Mobile App	4.4 / 5