DigiFinex Crypto Exchange Review 2023 : Pros & Cons

What Is Crypto Exchange ?

A cryptocurrency exchange, sometimes known as a crypto exchange, is an online marketplace where users may buy, sell, and trade different cryptocurrencies. These exchanges make it easier to trade cryptocurrencies for traditional fiat money like US dollars, euros, or Japanese yen as well as other digital assets. Exchanges for cryptocurrencies work as middlemen, giving investors and traders a location to buy and sell bitcoins.

The exchange rate between two different cryptocurrencies is represented by a number of trading pairs that are available on cryptocurrency exchanges. The trading pair Bitcoin (BTC) to Ethereum (ETH), for instance, would show how many ETH you would receive for a certain amount of BTC.

An order book, which is a live list of users’ buy and sell orders, is what exchanges commonly display. This enables traders to view the market’s current supply and demand for a specific coin. Users can put limit orders, which are executed only when the price reaches a predetermined level defined by the user, or market orders, which are executed at the current market price.

What Is DigiFinex Crypto Exchange ?

DigiFinex is a digital currency trading platform founded in 2017 and headquartered in Singapore. It has branches in the United States, Singapore, Hong Kong, Taiwan, Australia, Malaysia and other places. The platform offers a variety of digital currency trading pairs, including mainstream cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Bitcoin Cash, EOS, and Ripple, as well as some smaller market cap digital currencies.

DigiFinex Crypto Exchange Quick Facts

How To Register At DigiFinex Exchange ?

To register on DigiFinex , click Register Now button at the top of the page. You can also start creating an account directly through the form on the main page.

You only need to enter your e-mail and come up with a password. If there is a referral code, it is also entered at this stage. Password requirements: at least 8 characters, numbers, upper and lower case.

Click ” Create Account ” then go to your email to verify it. Enter the code you received and registration is complete. You can start replenishing your account.

DigiFinex Exchange Supported Countries

DigiFinex Exchange is a cryptocurrency exchange that supports users from various countries around the world. However, the availability of services may vary depending on the location of the user.

Exceptions are the US, China, Japan and countries in the Middle East. Syria and North Korea are also countries whose nationals cannot trade on DigiFinex .

How To Verify Your DigiFinex Cryptocurrency Account ?

There is no mandatory verification at DigiFinex , but you can pass it if you wish. At the moment, the only restriction imposed on unverified users is the withdrawal limit of Free. In the future, depending on the actions of regulatory authorities, conditions may change.

For verification, you can use one of four documents to choose from: passport, driver’s license, identity card or residence permit. Artificial intelligence is used to evaluate the authenticity of documents. This service is provided by the Onfido online identification service, already used by the DigiFinex , Revolut platforms.

How To Buy Crypto Or Deposit Crypto At DigiFinex Crypto Exchange?

There are two main options for topping up your balance on DigiFinex . Firstly, you can buy cryptocurrency with a bank card – it’s fast and convenient. Go to the ” Buy crypto ” -> ” Buy crypto with a credit card ” section.

Choose a cryptocurrency (currently there are 13 coins available for purchase in this way). Enter the amount and select the fiat currency to be used for payment.

After that, you will need to select a payment channel: each of them has conditions. You can choose between Simplex, Mercuryo, Banxa and Moonpay. Click ” Buy ” next to the appropriate option.

Agree to the terms and confirm the transition to the site of the payment provider. Enter information about the card and its owner, confirm the transaction. Cryptocurrency will be credited to the exchange account within a few minutes.

Second Method

You can transfer digital assets to the balance of the exchange from any external crypto wallet. For this:

• Go to the “Deposit” section from the “Assets” menu.

• From the drop-down list, you can select the cryptocurrency you want to deposit into your account.
• The wallet address will appear. You need to copy it and send funds to it from another wallet or exchange. Please note that only bitcoin can be sent to bitcoin addresses, similarly with other coins.
• You can also click “Show QR code” – for transfers from a mobile wallet, this is a more convenient option.

How To Withdraw Crypto Asset From DigiFinex Exchange ?

Having completed all the necessary trading operations, it’s time to withdraw the received assets to an external wallet. Go to ” Assets ” -> ” Withdraw “. Please note that the operation is only available after enabling two-factor authentication in the settings. This is for added security and requires less than a minute, so don’t neglect this measure.

Select a cryptocurrency and enter the withdrawal amount. Each coin has its own withdrawal fee, for example, for BTC it is 0.00057 BTC. Click ” Output “. By default, the exchange processes applications three times a day, however, hourly withdrawals are available for Premium users. Also, the time of receipt of the cryptocurrency is affected by the workload of the blockchain network.

How To Secure Your DigiFinex Account ?

There are several steps you can take to help secure your DigiFinex account and protect your funds:

1. Use a Strong Password: Make sure to use a combination of upper- and lowercase letters, digits, and special characters to create a strong and distinctive password. Useless information like birthdays or frequent nouns should be avoided.
2. Enable two-factor authentication (2FA) : Which DigiFinex and the majority of trustworthy exchanges offer as an additional security measure. This usually entails creating temporary codes for log-in using an authentication tool, such as Google Authenticator or Authy.
3. Secure Your Email: It’s crucial to secure your email as well as it’s frequently connected to your exchange account. For your email, use a strong, one-time password, and if your email provider enables it, enable 2FA. Your exchange account password could potentially be reset if someone has access to your email.
4. Phishing Caution: Be wary of phishing attempts. Check the URL twice before entering your login information. Verify that you are on the DigiFinex official website rather than a fraudulent site created to steal your information.
5. Avoid Public Wi-Fi : Using public Wi-Fi networks exposes your information to possible hackers, therefore avoid doing so. Use a secure and reliable internet connection while logging into your DigiFinex account or carrying out any delicate transactions.
6. Update Software Frequently: Always use the most recent security patches and upgrades on your PC, mobile device, and authentication app. By doing this, known vulnerabilities are protected against.
7. By taking these steps, you can help protect your DigiFinex account and reduce the risk of unauthorized access to your funds.

Fees taken when buying virtual currency

DigiFinex Trading fees

The fees on this Singaporean cryptocurrency exchange are the same for both takers and creators. Instead, they use a “flat fee model” for their fees. Their 0.20% fixed fee structure. This is a little less than the 0.25% average for the entire industry.

DigiFinex Withdrawal fees

Many exchanges provide reasonable trading rates, but they slap withdrawal fees on you when you leave. But not Digifinex. When you withdraw Bitcoin from this exchange, you get charged 0.0003 BTC. This is significantly less than the industry average globally.

Deposit Methods

The earlier version of this trading platform did not accept any deposits in fiat money. This meant that new bitcoin investors—i.e., those who had never previously held any—couldn’t trade here. But the platform just recently made credit card deposits possible. So you can buy cryptocurrencies at this trading site if you have a MasterCard or a VISA card.

How To Contact DigiFinex Customer Support Team?

If you need help with your DigiFinex account or have any questions, you can contact DigiFinex customer support through the following methods:

Check out the website: Visit the DigiFinex official website. It is most likely “https://www.digifinex.com/” in the URL.

Register for a new account: Use your login information to access your DigiFinex account if you have one.

Navigate to Support or Help Center : Find the “Support” or “Help Center” link on the website to access the support or help center. This is typically seen in the website’s bottom or top navigation menu.

Use the Ticket System or Live Chat: Most exchanges provide a live chat function that allows you to communicate with a customer service agent in real time. As an alternative, they may have a ticket system where you may submit your question or problem and get a reply by email.

Use email: Look for any customer service email addresses that have been provided. Sending an email to the proper email address with a detailed description of your problem or question is one option.

No matter which method you choose, be sure to provide as much detail as possible about your issue or question so that DigiFinex customer support can assist you efficiently.

Features Of DigiFinex Crypto Exchange

Stable & Secure

Ranked top 10 globally by volume and liquidity. in-house developed security system with multiple fail-safe layers, giving your cryptocurrencies bank-graded protection.

Buy Crypto with Ease

Invest in your favorite cryptocurrencies using credit card, and enjoy the best rate on the market.

Be there by your side

24/7 Professional customer support. Knowledge to empower everyone, noobs and experts alike.

Trading Pairs

It’s possible that DigiFinex provides a range of trading pairs that let customers trade several cryptocurrencies against one another (such as BTC/ETH, ETH/USDT, etc.).

Interface that is User-Friendly

Exchanges often work to develop interfaces that are User-Friendly to accommodate both novice and expert traders. It’s possible that DigiFinex wanted to simplify and simplify trade.

Advanced Trading Options

Experienced traders frequently need advanced trading options like limit orders, market orders, stop-loss orders, and more. These functionalities may have been offered by DigiFinex.

Security Measures:

To protect user funds, a reputable exchange often employs a variety of security measures, including two-factor authentication (2FA), cold storage for the majority of funds, and frequent security audits.

Plentiful Activities

Varieties of interactive bounties and generous rewards for you to grab.

DigiFinex Good Or Bad Points

DigiFinex is a cryptocurrency exchange that allows users to buy and sell various cryptocurrencies. Here are some potential good and bad points of using DigiFinex :

Good points:

1. Variety of Cryptocurrencies: DigiFinex provides customers with access to a wide variety of assets by offering a large selection of cryptocurrencies for trading.
2. User-Friendly Interface: The platform normally offers a user-friendly interface that is intuitive and easy to use, making it simpler for both novice and seasoned traders to explore and carry out deals.
3. Liquidity: For many of the cryptocurrencies it lists, DigiFinex is reputed to have respectable liquidity. This may be crucial for carrying out trades at favorable prices.
4. Security methods: According to the platform, it uses security methods such two-factor authentication (2FA), cold storage for the bulk of customer cash, and recurring security assessments.
5. Mobile App : DigiFinex provides a mobile app that enables users to trade and keep track of their portfolios while on the road.

Bad points:

1. Compliance & Regulation: The regulatory landscape for bitcoin exchanges can be complicated and undergoing rapid development. Depending on the jurisdiction, DigiFinex can experience difficulties adhering to the law.
2. Customer service: Some users have complained about slow and ineffective customer service response times, which can be irritating in the event of technical faults or account-related concerns.
3. Limited customer support: Some users have reported slow response times from DigiFinex customer support team.
4. Regulatory uncertainty: DigiFinex is based in Ukraine, which has a relatively uncertain regulatory environment for cryptocurrencies.
5. Security incidents: In the past, DigiFinex has had security problems, such as a hack in December 2020 that cost some users money. To avoid similar events from happening again, DigiFinex has added more security measures since then.

Is DigiFinex Is Safe Platform To Trade ?

Investigate the platform’s security practices, such as two-factor authentication (2FA), cold storage of cash, and recurring security audits. Verify that the platform complies with all applicable laws in the countries in which it operates. Compliance with regulations can increase the level of legitimacy and security.

To evaluate the reputation of the platform in terms of customer service, responsiveness, and general user satisfaction, research user evaluations and experiences. A trustworthy exchange should have significant trade volume and active users to be considered to have sufficient liquidity.

Verify that the platform offers details about the team’s members and their backgrounds. Team transparency can boost credibility. Know the rules for deposits and withdrawals on the site. Unusual complicated or restrictive policies could be a warning sign.

A trustworthy platform frequently offers instructional tools and resources to assist users in understanding trade, security best practices, and other crucial elements.

The platform’s team’s dedication to openness and keeping consumers informed can be seen in their consistent communication and updates.

DigiFinex Conclusion

DigiFinex is a reliable and user-friendly cryptocurrency exchange that provides a range of features to traders and investors. Its low trading fees, staking options, and security measures make it an attractive option for those looking to buy, sell, or hold cryptocurrencies. Additionally, its affiliate program and community engagement offer additional opportunities for users to earn rewards and connect with like-minded individuals.

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