SINEGY Marketplace is a centralized exchange (CEX) that is based out of Malaysia. This cryptocurrency exchange was established in 2020 and it allows users to buy and sell various fiat and cryptocurrencies. The SINEGY crypto exchange also allows you to hold your assets in a cold storage wallet.
The SINEGY cryptocurrency exchange requires users to complete the KYC procedure in order to verify their accounts. This process prevents users from performing any fraudulent activity on the platform. It also prevents users from making more than one account. SINEGY Marketplace has not specified where they provide their services. However, they do accept US clients.
SINEGY Marketplace does not have a mobile application, but it can be accessed via a mobile browser. Therefore, SINEGY Marketplace is compatible with both mobile phones and desktop computers.
Markets
The SINEGY cryptocurrency exchange allows users to trade both crypto-crypto and crypto-fiat. However, the only cryptocurrencies offered by this platform as of writing are BTC, ETH, and XRP. The most prominent fiat offered by SINEGY Marketplace is the Malaysian Ringgit (MYR). SINEGY Marketplace has integrated with local Malaysian banks to bring the MYR to its marketplace. SINEGY Marketplace does not offer leverage or margin facilities.
The Marketplace Token (MKTP) is the native token for the SINEGY Marketplace. This token is based on the ERC-20 standard and was released in 2019. There is a total supply of 70 million MKTP tokens in circulation. Users can avail discounts and other benefits by using the MKTP currency on SINEGY Marketplace.
SINEGY Marketplace was developed for the advanced trader who requires additional technical trading tools and indicators in their trading strategy. This crypto exchange has a complex dashboard that features several different tools that any professional trader may need to further their trading career. You can avail the different order types like limit order and market order while trading on this platform. Though you can also choose to use a simple version of the dashboard.
The SINEGY exchange fees follow the maker-taker model. Makers have to pay 0.25%, while takers have to pay 0.5%. This cryptocurrency exchange does not charge any exchange fees on deposits made in cryptocurrencies or the fiat currency MYR. However, there are SINEGY crypto fees charged on withdrawals. The withdrawal fee for MYR is RM 0.10, and it is 0.05% for BTC.
Other Services
SINEGY Marketplace has an Arbitration Scanner. This allows traders to take advantage and profit off of a mismatch in prices of similar assets. This is a popular trading strategy as it has a very low risk on your trades. The way this works is that the AI will scan different markets for any differences in the price of any particular asset. If more than one market is trading an asset at different prices, then you get the opportunity to profit from the situation. SINEGY Marketplace is popular because its Arbitration Scanner is among the best in the industry.
One of the unique services offered by the SINEGY crypto exchange is that it allows users to trade across markets. What this means is that you can trade any asset on the marketplace for another asset on another marketplace. This can be crypto-crypto or crypto-fiat. The biggest benefit of this service is that it brings better liquidity and trading volume between the assets. However, as of writing, this feature is still in the BETA phase, and developers are working on upgrading it to a better version.
Lastly, SINEGY Marketplace provides users with a cold storage option. The benefit of a cold wallet is that it is not connected to the internet, so you protect yourself from cyberattacks and other risks that are associated with a Wi-Fi connection. If you’re a verified user, you can generate addresses for either Bitcoin or Ethereum. You need to complete the KYC procedure to become a verified user. Besides, you can only generate one new address per day, and you don’t need to discard your old addresses in order to do so. Though the wallet does not support any other trading pairs for the time being.
About the Company
SINEGY Marketplace was founded in 2017 and began its operations in 2020. This crypto exchange platform is based out of Malaysia and has market-competitive crypto price assets.
Kelvyn Chuah is the founder of SINEGY Marketplace. He was one of the youngest Malaysian traders to obtain a series-7 qualification. Chuah has a history with Bank of America, as he served as their VP for Equity Trading. He was also picked out to join TD Ameritrade, which is one of the largest equity brokerage firms in America.
Edgar Gasper is the CEO of SINEGY Marketplace. He has a history with Dell as he worked for their Logistics and Asset Recovery team as a business lead. Jason Phoong was also part of the founding team, and he works as a developer for SINEGY Marketplace. Phoong previously worked as a full-stack web developer at Eespee and as a software engineer for DINOmedia.
