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Dzengi.com, formerly Currency.com – is a prominent cryptocurrency exchange with an eye toward asset tokenization. The platform is geared for experienced traders, providing an impressive trading interface, TradingView integration, and margin trading with up to 1:500 leverage. This Dzengi.com review will dive into the platform’s features, its pros and cons, and pit it against the other best tokenization-heavy exchanges to see who comes out on top.
Investors who are interested in tokenized assets need to look no further than Dzengi. The platform thrives on tokenization, providing savvy traders with thousands of crypto and non-crypto tokens. However, the platform is missing several top digital currencies and lacks any earning features.
There has been very little media about the underlying company since its rebranding from Currency.com to Dzengi.com, so it’s hard to gauge any change to the exchange’s reputation. Worse yet, citizens from most major countries are actually ineligible to create an account on the platform.
- Good selection of tokenized coins
- Advanced trading features
- Licensed in many regions
- Good mobile app
- Transparent fee structure
- Restrictions in many countries
- Few crypto features
- Fiat withdrawal commissions
- A focus on tokenization. Tokenization is a huge part of modern decentralized finance infrastructure, and Dzengi.com might be one of the best. If traders want the ability to seamlessly swap between traditional stocks (e.g., Nasdaq), commodities (e.g., Gold) and crypto (e.g., BTC), Dzengi is a great choice.
- Advanced trading features. Dzengi is geared toward the pro and boasts integration with TradingView – a must for any advanced trading interface.
- Fully regulated. The company is fully regulated and abides by all KYC and AML requirements from the countries it works with.
- Mobile app. Dzengi.com has an excellent, highly-rated mobile app available on both Android and iOS operating systems so traders can adjust their portfolio on-the-go.
- Excellent fee structure. Users on the platform can trade tokenized assets with leverage of up to 500x for a 0% fee. Normal trading fees aren’t much higher, sitting at 0.05% for these assets.
- Heavy location restrictions. Dzengi.com is inaccessible to residents from a huge number of countries renowned for their impact on the crypto market. Traders from Australia, the United States, the United Kingdom, Germany, Japan, Korea (among many more) cannot make an account on the platform. This makes Dzengi.com a poor choice for most of our readers.
- Few crypto features. What Dzengi boasts in advanced trading features, it lacks in crypto. There is no staking or earning hub, DeFi/wallet integration or bundles.
- Fiat withdrawal commission. Dzengi charges a small fee for withdrawing fiat from the platform – approximately 0.15%. Although this may seem minuscule, most modern exchanges support free and instant deposits/withdrawals making Dzengi an outlier in this regard.
Dzengi.com Compared & Alternatives
|Exchange||Crypto Assets||Trading Fees||Rating||Promotion||Website||Review|
|385||0.1% (spot) and 0.02% / 0.04% (Futures)|
|Up to $100 welcome bonus||Visit Binance||Binance Review|
|331 (608 trading pairs)||0% (spot), 0.06% / 0.01% (futures)|
|0% trading fees for 30 days (spot only)||Visit ByBit||ByBit Review|
|222||0.16% (maker) and 0.26% (taker)|
|None available at this time||Visit Kraken||Kraken Review|
Dzengi.com At A Glance
Dzengi.com was founded as Currency.com in 2019 in Belarus with a key philosophy – to give traders access to tokenized assets from across all sectors of finance. While the platform underwent a significant rebrand in the past 12 months, it has maintained its core principles. U.S. investors cannot access the platform but can utilize Dzengi’s sister exchange, now called (confusingly) Currency.com.
|Features||TradingView integration, Demo account, Tokenized assets|
|Accepted Fiat Currencies||5 (USD, GBP, EUR, RUB, BYN)|
|Deposit Methods||Bank cards, Bank transfer, Crypto wallet|
|Number of Trading Pairs||2,000+|
|Trading Fee||Crypto/fiat to crypto (0.2%), Tokenized asset to crypto (1.5%), Tokenized assets (0.005%), Tokenized currencies (0%)|
|Customer Support||Help Center, Ticket system and mobile number|
|Security Measures||Fully regulated, 2FA, end-to-end encryption|
|Mobile App||Yes (iOS and Android)|
Dzengi Features Reviewed
At its core, Dzengi is a professional trading suite and its interface reflects that. There are thousands of trading pairs for the experienced investor to choose from, varying between digital currencies, tokenized stocks, bonds and commodities, and fiat currencies. The Buy/Sell page is fairly straightforward, making it easy for intermediate traders to master the interface’s features.
Traders can easily choose between seven leverage figures – 1x, 2x, 5x, 10x, 50x, 100x. However, to utilize this element of Dzengi, customers must set up a guaranteed stop loss to ensure they at least mitigate some of the risks that come with margin trading. Investors can also set up take profits or trigger orders that execute when a trading pair hits a certain price.
This makes Dzengi an excellent choice for the more advanced crypto trader with an eye toward tokenized assets. However, first-timers looking to simply accumulate small amounts of crypto should likely avoid Dzengi, as the interface and margin trading may be quite confusing.
As part of Dzengi’s advanced trading interface, the team has implemented a must-have for all modern exchanges – charting integration. While some trading strategies (e.g., Dollar-cost averaging) don’t rely on graphs, they are vital for any form of technical analysis. Investors can flick between several indicators, including basics like the RSI and MA, to the more complex like Bollinger Bands or the Ichimoku Cloud.
The cornerstone of Dzengi.com’s brand is that it offers over “2,000 tokenized assets.” These are digital versions of traditional investments, such as stocks, bonds, commodities (gold, silver, etc.), and market indices (such as the S&P 500).
The advantage of such a system is the ability to trade between asset classes without needing to convert fiat to crypto and back again. For example, an investor could not purchase TSLA shares using Bitcoin at 1 am on the New York Stock Exchange. However, they can buy a tokenized version of TSLA under those exact same circumstances.
This is why Dzengi is such a powerful trading platform even with its drawbacks compared to other crypto exchanges. We must view it through the lens of an ordinary broker, given that it offers thousands of tokenized assets across several asset classes. So while it lacks some features typical of a crypto exchange, it accomplishes what it sets out to do very well – be an all-around exchange that offers the seamless trading of commodities, cryptocurrencies, stocks, and bonds.
Based on this, Dzengi is actually one of the best-rated trading platforms available for investors who wish to dabble in tokenized assets. It makes it very easy for investors to achieve a diversified portfolio without having to navigate multiple platforms, wallets, and storage options.
Dzengi Account Creation & Verification
Dzengi is a registered crypto exchange that follows all basic Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements. This means that new users must complete a verification process before they can deposit and withdraw fiat currencies on the platform.
As per most modern platforms, verification is usually a painless process that involves inputting basic info (residential address, name, mobile and email) alongside submitting images of government-issued documentation. Usually, verification should be completed automatically – however, sometimes an application can slip through the cracks and take 48+ hours before it’s approved.
Supported Fiat & Deposit Methods
Dzengi sits somewhere in the middle of most exchanges when it comes to supported fiat and deposit methods. The platform accepts five currencies – GBP, USD, EUR, GYN and RUB. This is solid and most investors will find a fiat there they can use, but there’s a noticeable lack of Asian options (AUD, JPY, SGD).
Similarly, deposit options are decent without being incredible. Traders can use relevant bank cards (VISA, Mastercard) or transfer fiat to their account using wire or bank transfer. Deposits are more or less instant and free via bank transfer, but incur a hefty 3.5% charge for using VISA/Mastercard. Withdrawals also incur a charge, which is something that most exchanges avoid.
Dzengi has a solid selection of cryptocurrencies for traders to choose from, including all the basics like BTC, ETH, DOGE and 150+ more. However, users simply looking to trade crypto can find more comprehensive lists with better features on other exchanges.
If an investor is using Dzengi, it’s most likely due to the platform’s immense support for tokenized assets. Investments from all the main financial sectors are represented – stocks, bonds, precious metals and fiat currencies. There are thousands to choose from. It would be unfair to rate the platform solely on its list of cryptocurrencies without including the other digital assets hosted on Dzengi.
Dzengi offers solid trading fees – especially for those trading with leverage. Tokenized assets traded with leverage don’t incur any fee at all, while margin trading cryptocurrencies is between 0.06 and 0.075% (about the industry standard). Normal trading incurs an exchange fee of 0.2% for crypto (higher than normal) but just 0.05% for most tokenized assets. Again, Dzengi is positioning itself as an excellent platform for trading tokenized assets but a mediocre one for trading crypto.
|Tokenized assets Leveraged||0%|
|Crypto to crypto Exchanged||0.2%|
|Crypto to tokenized currencies Exchanged||1.5%|
|Tokenized assets Exchanged||0.05%|
|Tokenized bonds Exchanged||0.03%|
|Tokenized currencies Exchanged||0%|
Trading Fees Compared
Dzengi is a solid option when it comes to cost-effective trading, but there are superior alternatives out there for basic crypto swaps:
Dzengi Ease of Use
Dzengi claims that it is a potential trading platform for both novice and experienced investors, but in our experience, it is clearly geared toward the more intermediate or advanced trader. The exchange isn’t exactly flush with features, meaning it is actually pretty easy to navigate compared to a feature-heavy alternative like KuCoin.
Really, the main page of the Dzengi platform is its trading interface, which contains four tabs – the main Trading page, Charts, User Portfolio and Transaction Activity Reports. Each of these tabs is straightforward enough to locate and use but doesn’t provide a heap of utility.
But it’s the main trading interface where the magic happens. Specific tokenized/crypto assets can simply be searched for in the search bar, while investors can favorite certain assets or browse the most-traded tokens in the past week. This makes it quite easy to wade through the thousands of assets available.
All that said, Dzengi is still intended for more experienced traders. The interface resembles that of an exchange or trading platform, rather than some of the easy “Quick Buy” hubs investors find on alternatives like Binance. Although a novice could likely figure out how to use Dzengi’s trading platform with enough time, given its lack of advantages beyond tokenized assets, they may be better off just sticking to a more beginner-friendly exchange.
Dzengi Mobile App
Dzengi.com offers a mobile app for trading on the go. It is available for Android and iOS devices and offers all the basic features they’d expect – allowing customers to complete trades, make deposits and withdrawals, and contact customer support.
The trading app has an overall 4.8/5 star rating on the Apple marketplace based on more than 2,900 reviews. The operation of the app was quite intuitive and responsive, however, it is not packed with features like some of the best crypto apps for beginners such as Crypto.com and Binance. There are a few complaints from users about identity verification and withdrawing funds from the app, but each complaint is responded to by a Dzengi customer service representative, representing excellent customer service.
Dzengi has pretty generic customer support options on its platform. Users can submit a ticket (which may take a day or two to receive a response), or navigate the Help Center. In our experience, the Help Center is actually quite useful and provides fairly transparent guides and answers for most basic questions. Additionally, Dzengi’s team is renowned for being helpful and thorough with customers, receiving an excellent score of 4.4 / 5 on TrustPilot.
Dzengi Security Measures
Dzengi.com appears to be a legitimate exchange that offers standard protection features including two-factor authentication (2FA) for account login, deposits, withdrawals, and certain trades. Deposited cryptocurrency is also stored in offline cold storage wallets, preventing cyber-attacks and lost funds.
The platform has not suffered any hacks or publicized loss of user funds and is a reliable exchange to date. Dzengi also keeps reserves on hand to reimburse users in the case of loss due to crime or theft. The amount of reserves is unknown.
Frequently Asked Questions
Dzengi is a licensed crypto exchange in a few countries that appears to abide by local government and financial requirements. The platform has not encountered any significant issues with hackers or loss of user funds.
Yes, Currency.com recently rebranded to Dzengi. However, the exchange’s partner company available to U.S. citizens (also called Currency.com) offers different features to the main Dzengi exchange.
Final Verdict & Scores
From the perspective of an investor wanting to buy and sell basic cryptocurrencies and altcoins, Dzengi isn’t the best option available. There are alternatives with cheaper trading fees, more earning features and a longer-standing reputation in the industry. Those looking to passively (or actively) build a digital currency portfolio may have a better experience with one of Dzengi’s competitors.
However, when it comes to tokenized assets, Dzengi.com’s exchange is one of the best out there. The platform offers thousands of digital assets across several financial classes, including favorites from the stock market (S+P, Nasdaq), commodities (Gold and Oil) and much more. Paired with competitive trading fees and the ability to trade with leverage, advanced investors interested in multiple asset classes could find Dzengi to be a superb option for their financial needs.
However, a massive drawback is the exchange’s lack of compatibility with several nations. Customers from the United States, Australia, the United Kingdom, Japan and more cannot verify their accounts on the platform.
|Review Criteria||HedgewithCrypto Rating|
|Features||3 / 5|
|Supported Fiat and Deposit Methods||3.5 / 5|
|Supported Crypto & Trading Pairs||5 / 5|
|Fees||4 / 5|
|Ease of Use||3.5 / 5|
|Customer support||4 / 5|
|Security Measures||4.5 / 5|
|Mobile App||4 / 5|