DigiFinex is a centralized cryptocurrency exchange (CEX). Founded in 2017, it offers spot and derivatives markets, margin and copy trading, and exchange-traded fund (ETF) products. In addition to the trading services, the DigiFinex crypto exchange users can access lending and investment programs, as well as an NFT marketplace.
The platform follows AML and KYC regulations. Users from several countries, including China, Singapore, and the USA, as well as countries in the Balkan region, are not eligible to use the DigiFinex cryptocurrency exchange. Trading is available on desktop and mobile devices.
The platform is optimized for individual and commercial traders. The DigiFinex spot market facilitates crypto-crypto trading. Users can margin trade with up to 5x leverage and purchase ETF products. While fiat currencies are not listed in the exchange, they can be used to buy crypto assets on the platform via debit or credit payments or bank transfers.
The platform has a native asset, the DigiFinex Token (DFT). Users that hold DFT can join the VIP program and become OTC merchants and are eligible for handling fee discounts and additional rewards. You can learn more about the DigiFinex crypto price, volume, and how to buy it by clicking here.
Overall, there are over 500 DigiFinex trading pairs available across spot and derivatives markets. Customers that handle large-scale transactions can access block and over-the-counter (OTC) trading services. They enable bulk Bitcoin and Tether purchases at a minimum of 100 BTC or 1 million USDT, respectively.
The derivatives markets consist of the following:
- USDT-margined perpetual contracts
- Coin-margined perpetual contracts
- Volatility contracts
- Copy trading
Volatility contracts are also known as move, or settlement, contracts. Unlike options contracts, their position can be affected by adverse price movements. Copy trading is a feature that allows users to follow the trading strategies used by the most prominent traders on the DigiFinex crypto exchange. Copy trading settings can be set up automatically.
Beginner users and traders that want to test new strategies can access the demo trading tool. This feature allows them to simulate potential trades in the market without using real funds or risking losing their personal assets.
The standard DigiFinex exchange fees are 0.2% for spot traders. Margin traders must pay an interest rate of 0.05%; however, if the position is closed before 10 a.m., the interest of that day is waived.
Users that hold DFT tokens are eligible for up to a 25% discount on handling fees. If the trading pair does not contain DFT, the discounted DigiFinex crypto price is converted using a specific exchange ratio and the latest market price.
By locking a minimum of DFT tokens, users become eligible to join the VIP program. It offers reduced maker-taker rates at six VIP levels. The discount amount can be determined by the DFT holdings or the trailing 30-day DigiFinex trade volume. The additional 25% DFT discount can be applied on top of the VIP taker rates.
At VIP 1, the maker-taker fees are 0.12% and 0.18%, respectively, or 0.15% for takers with the DFT discount. At the VIP 4 tier, makers are not required to pay any fees. A maker’s rebate of 0.003% and 0.006% is granted at VIP levels 5 and 6, respectively. The taker fees can be reduced to as low as 0.06%.
The DigiFinex crypto fees for withdrawals are asset specific. The minimum required withdrawal amount and appropriate fees are determined individually for each asset. The rates are dynamic and may change based on network conditions. There are no fees for depositing assets.
In addition to the DigiFinex cryptocurrency exchange, users can also access digital asset management and earning programs. The wealth management tools include a range of stable and advanced investment contracts.
DigiFinex Crypto Loans is a lending service that offers low interest rates. Users pledge their preferred assets to obtain short-term liquidity for 7, 14, 30, or 60 days. There are no additional transaction fees.
DigiFinex Launchpad is an exclusive platform for early-stage blockchain projects. Users can choose to invest in their preferred crypto projects, while the teams use the funds to develop the products. Launchpad may be inaccessible to some DigiFinex users due to regional regulations.
Developers can access the DigiFinex API documentation for spot and swap trading. The Restful and WebSocket APIs provide quantitative indicators and public data like the DigiFinex volume and live prices.
About the Company
The DigiFinex crypto exchange was co-founded by Pu “James” Jia and Kiana Shek in 2017. The current company CEO is Ned Kee. The company headquarters are located in Singapore.
DigiFinex is focused on the APAC region and has more than 4 million registered users. Based on the DigiFinex volume and liquidity, it has ranked as one of the top 10 centralized exchanges at various times since its inception.
According to the project team, there are five core components to the DigiFinex ecosystem:
- The DigiFinex crypto exchange
- The DFT token
- Educational resources
- Blockchain incubation
- Asset management services
In September 2018, the exchange announced plans to list the TrueUSD (TUSD) token and start phasing out USDT from its trading services. However, as of 2022, Tether remains listed on the platform, and most DigiFinex crypto prices can be denominated in USDT.
Ned Kee is the CEO of the DigiFinex cryptocurrency exchange. Before joining the DigiFinex team in October 2017, Kee was the CEO of ShenZhen Wala Network Technology. He also previously led the Development and Operations department at Xunlei Networking Technologies.
Kiana Shek is the Chief Exchange Officer at the company. She obtained a Master’s degree in International Finance from the NYU Stern School of Business and was formerly the Deputy General Manager of the Chinese technology corporation Baidu.
James Jia is the Chief Product Officer at DigiFinex. In 2008, he obtained a Physics degree from the Beijing Institute of Technology.