DigiFinex
⭐ Trust Score: 7/10
🏆 Arbi.TEAM 2/10
📋 Basic information
📊 Trading statistics
📖 About exchange
ℹ️ DigiFinex is a centralized cryptocurrency exchange founded in 2018 and registered in Seychelles, with an operational office in Singapore. The platform ranks within the top 100 by trading volume and offers a wide range of crypto assets. The exchange targets a global audience, features its own DFT token for fee discounts, and provides various trading products including spot, futures, and passive income services.
🪙 Trading Products and Instruments
DigiFinex provides a comprehensive set of trading and investment tools aimed at both beginners and experienced users.
Spot Trading
Over 600 cryptocurrency assets, including popular pairs like BTC/USDT. Support for numerous trading pairs.
Futures Trading
Trading of perpetual contracts (USDT-M) with leverage.
Passive Income & Additional Services
Staking (Simple Earn), lending, Launchpad for new tokens, and copy-trading.
Over-the-Counter (OTC) Trading: Ability to conduct direct peer-to-peer trades for large volumes.
Native DFT Token: Using the exchange's native token provides discounts on trading fees.
Mobile Application: A fully-functional app for iOS and Android.
🔐 Security and Support
DigiFinex's security is based on standard industry practices, although the exchange has no public record of major hacks. User reviews of support are mixed.
Protection Measures
- Fund Storage: The majority of assets are stored in cold wallets.
- Account Security: Two-factor authentication (2FA), activity monitoring, alert systems.
- Incident History: No significant public reports of hacks or compromises.
Regulation and Transparency
Legal Registration: Registered in Seychelles. Management office located in Singapore.
Transparency Concerns: The exchange does not disclose its beneficial owners, which may raise questions within the community.
Support
Customer support is available via online ticket in several languages, including Russian. User feedback often points to potential delays in responses, especially when resolving complex issues related to verification or withdrawals.
💳 Deposits and Withdrawals
DigiFinex offers various methods for working with fiat and cryptocurrency. KYC verification levels affect daily limits.
Verification (KYC)
Not mandatory for basic operations. Levels: No KYC (withdrawal limit up to 10,000 USDT/day), with verification (limit up to 50,000 USDT/day). KYC may be required for certain fiat channels.
Account Funding
Fiat: Available via bank cards, bank transfers, and P2P platforms (availability region-dependent).
Cryptocurrency: Deposits are available for all supported assets across various networks. No deposit fees.
Withdrawals
Withdrawal of cryptocurrency to external wallets. Fees vary depending on the asset and network. User reviews contain complaints about potential withdrawal delays and high fees for some coins.
👍 Advantages and Disadvantages (Based on Reviews)
The overall picture of DigiFinex is mixed: the platform offers rich functionality but has a number of significant operational drawbacks.
Advantages
- ✅ Wide Asset Selection: Over 600 cryptocurrencies, including many altcoins.
- ✅ Operating Since 2018: Long-standing history in the market.
- ✅ Diverse Products: Presence of spot, futures, staking, copy-trading, and Launchpad.
- ✅ Relatively High Non-KYC Limits: Up to 10,000 USDT withdrawal per day without verification.
- ✅ Mobile App: Convenient and functional mobile client.
Disadvantages
- ❌ Unstable Quotes: Users and traders report sharp price jumps when attempting to execute a trade.
- ❌ Support and Withdrawal Issues: Complaints about verification delays, deposit processing times, and withdrawals.
- ❌ High and Non-Standard Withdrawal Fees: For some coins, fees are charged in the network's native token (e.g., BNB for BSC).
- ❌ Lack of Transparency: Owners' identities are not disclosed, raising trust concerns.
- ❌ Localization Issues: Incomplete or incorrect interface translation in some languages, including Russian.
💡 Tips for Beginners
Start Small
Before making large investments, test the entire operational cycle (deposit, trade, withdrawal) with a small amount to assess processing speed and fees.
Activate 2FA
Always enable two-factor authentication to protect your account.
Carefully Check Withdrawal Fees
Before withdrawing, confirm in which currency (USDT or the network's native token) the fee is charged and ensure you have the necessary balance.
Be Prepared for Volatility
Account for possible sharp price changes when using market orders, especially on less liquid pairs.
💱 DigiFinex Reliability Analysis for Arbitrage Operations
DigiFinex is considered a low-reliability exchange for arbitrage by experienced traders but may be of interest due to specific conditions.
Critical Issues for Arbitrage on DigiFinex
Unstable Quotes: The main problem. The price can change sharply at the moment of market order execution, making arbitrage risky and unpredictable.
Withdrawal Delays: Processing withdrawals may take longer than on other exchanges, which is critical for arbitrage strategies dependent on speed.
Withdrawal Fee Specifics: Withdrawal fees for many coins are charged in the network's native token (e.g., BNB for BSC), complicating profitability calculations and requiring balances in different tokens.
High Fees: In most networks (except Arbitrum One), withdrawal fees for USDT and other assets start from 1 USDT and above.
📈 Arbitrage Summary
We do not consider DigiFinex suitable for cryptocurrency arbitrage. The key deterrent is the instability of quotes, which can turn potential profit into a loss at the moment of trade execution. Additional complexities are created by non-standard fees and potential delays. Although the exchange is present in scanners due to low volumes and low prices on some assets, it is recommended to work with it with increased caution or avoid its use in arbitrage strategies altogether.