DIGIFINEX

Crypto Exchange

DigiFinex is a digital asset trading platform headquartered in Singapore and a registered office in Seychelles. It has been active since 2018. The exchange is owned by the company Digifinex Limited. Its founders include individuals from well-known companies such as Xunlei, Tencent, Baidu, and HP.

DigiFinex is also a regulated cryptocurrency exchange in Australia and has an exemption from the Singapore regulator MAS to offer digital payment token services in Singapore.

One of the co-founders is Kiana Shek (Linkedin).

The platform offers open-ended swaps, purchase of digital coins with a credit card, and leveraged trading. Currently, the platform offers over 100 major cryptocurrency trading pairs and ten fiat currencies that traders can actively trade. The list includes – Bitcoin, Cardano, Aave, ChainLink, Ethereum and others. It has its own DigiFinex token that helps in trading coins.

DigiFinex makes money by widening the spread between cryptocurrencies and fiat currencies. The broker does not currently charge for currency exchange, but generates revenue from the spread between different currencies, which covers part of the app’s costs.

The spread is set at 1%, which is more than other similar crypto brokers usually charge.

DigiFinex allows users to deposit or withdraw funds through various sources, including credit cards, cryptocurrencies, and even cash.

The company also offers a so-called insurance fund:
DigiFinex’s insurance fund acts as a safety net that protects traders from losses and ensures that profits are paid out on trades. One of the main purposes of using this insurance fund is to avoid excessive auto-deleveraging liquidations (ADLs). In addition, these funds act as contributions from liquidated positions.
On the DigiFinex website, one can always see how much the insurance fund is.

Digifinex does not allow US investors on its exchange. So if you are from the US and want to get into crypto trading, you need to look elsewhere.

We place DigiFinex in our “Orange Compliance” list, as the company has not been getting good ratings on various rating platforms lately.

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Jurisdiction

Singapore

Legal Entities

DIGIFINEX LIMITED

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