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DigiFinex Review - is it scam or safe?

DigiFinex Review - Is digifinex.com scam or safe cryptocurrency exchange?

RATING: 2 / 1 REVIEWS DigiFinex
DigiFinex is not regulated. We cannot guarantee your money is safe.

Trading Accounts & Conditions


Account type Leverage Maker Fee Taker Fee Deposit Fee
Standard 1:1 0.20% 0.20%
Crypto: Free; 
CNY to USDT: Varies


DigiFinex is a rather new cryptocurency exchange, operating out of Singapore, but mostly targeting Chinese clients. In this review, we will cover their services and try to see if they are suitable for clients form other countries. We have to mention, as we don’t speak Chinese (and this is the only language currently supported), this review will take a bit of an outsider’s perspective,


DigiFinex Advantages


Volumes are picking up – the thing which got our attetntion to DigiFinex in the first place is the fact the trading activity is gradually increasing. They are still a long ways off the major players in the field, but of the trend continues, the company will be the top of the charts.


Fiat (CNY) to USDT transfers – DigiFinex offers a way of converting your Chinese Yuan into USD Tether. This is done via the popular (for China) C2C model, where you have to contact a third party provider, listed on the exchange’s system. We don’t have access to their system, as full KYC is required.


>>Crypto-exchanges accepting Bank Transfers<<


More than thirty coins available – DigiFinex isn’t simply a gateway to crypto. There are a lot of different coins traded on the platform, the most famous of which are BTC, ETH, XRP, LTC, OMG and QUTU. They (and the plethora of altcoins) are traded aginst USDT, BTC and ETH.



Has a token (DFT) –  DigiFinex has issued an Ethereum-based token, which can apparently be used for many purposes. At the time of writing, the FIFA World Cup is approaching, and it seems traders can make bets on the upcoming games with DFT. That being the case, the main idea behind the token is receiving a portion of the exchange’s income – 80% of the daily fees will be distributed among token holders. We don’t have an opinion on this token as an investment, as more research (and preferably by somebody who understands Chinese) will be necessary.


Trading fees are decent – market makers and takers pay the same fee at  DigiFinex – 0.20% of the transaction size. This is what one would consider the “standard” fee, which is charged by a majority of the crypto-to-crypto trading systems. 


No charges on crypto deposits and withdrawals – unlike the previous factor, this is a solid advantage over the competition. While most exchanges don’t have deposit fees on incomming blockchain transfers, quite a few have withdrawal fees (on top of the mining ones).


Relatively nice platform – the trading interface at DigiFinex will suffice most crypto enthusiasts. We have seen even better charting and layouts, but at the end of the day this seems perfectly viable and we have also seen may worse platforms. Western readers may be surprised to see all the positive price changes colored in red (and declines in green) but this is typical for Chinese trading venues, as red is considered a lucky color. Probably our biggest issue with the platform, was the fact a couple of the coin logos didn’t load no matter how long you wait. Here is how the platform looks:


The trading interface at DigiFinex


DigiFinex Disadvantages


Strong focus on China  –  We have to start the disadvantages section with this, as a lot of the readers are probably looking for this exact point. Some exchanges have a more global strategy, while others only target the domestic market and there is nothing wrong with that. The lack of a translated version of the website, fiat support only for CNY and even the way the platform is set up aren’t that attractive to foreigners.


New company, not much info – the only piece of information which we know about DigiFinex is they allegedly started operating in 2017 and are based in Singapore. This sounds okay, but doesn’t inspire much credibility. In fact, all new projects are subject to at least some level of risk.


US and Singapore clients not accepted – at this point in time US residents are probably used to not being accepted in a lot of trading venues (due to the strictness of their legal system). The lack of support for Singapore citizens is rather odd, given DigiFinex is based there. In theory, this could mean a lot of things, like not following a particular local legislation, but we can’t be certain.


Taken from the sign-up form at DigiFinex


No leverage – it shouldn’t surprise anybody who is familiar with the space. Only a few of the very established exchanges can afford the luxury to provide margin trading, which is a rather complicated to execute.


>>Forex brokers, offering Bitcoin<<


On the other hand, some forex brokers are now offering Bitcoin CFDs. These are derivative assets, which only follow the price movements of a given underlying asset. Trading such an instrument is very different from going to an exchange and buying the coins directly. Be sure to see our guide, if this interests you.


USDT supported –  DigiFinex is one of the many exchanges which use this token, which represents a US dollar. We feel the need to remind you, there are rumors, the company behind Tether may not have enough cash to back every token they have ever created. 




DigiFinex is a cryptocurrency exchange, best suited for Chinese clients. The trading environment provided is quite nice, with competitive fees and a relatively nice interface. That being the case, a lot of the functionality may not be suitable for people form the rest of the world, simply due to the language barrier.


A potentially even bigger issue is the fact DigiFinex is basically an unknown company. This type of uncertainty is quite common in the world of crypto. If the main thing which attracts you to the field is the price volatility and you are a short term trader, a forex broker may be a better trading partner for you. The well-regulated ones are quite secure and reliable.


>>Regulated Bitcoin forex brokers<<


The pros and cons of DigiFinex:


Pros Cons
Volumes are picking up Strong focus on China
Fiat (CNY) to USDT transfers New company, not much info 
More than thirty coins available US and Singapore clients not accepted
Has a token (DFT) No leverage
Trading fees are decent USDT supported
No charges on crypto deposits and withdrawals  
Relatively nice platform  


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Exchange Updates

Many updates like further English language support have and are being added. They are also working on offering accounts for United States citizens. That being said you currently have an option for an unverified account eligible for 1 BTC withdraw every 24 hours. The investment companies for the exchange are prominent in Asia, but reasonably unknown in the western world. The native DFT has an interesting sturcure with many functions with a deflationary model, daily dividend payouts, and buy backs to support the price. The trading is basic and isn’t very attractive for advanced traders, but the liquidity on many of the pairs is high enough to support hedging your exchanges with this one.

Aye Kay 08/18/2018
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