Defying the Odds, DigiFinex Exchange Thriving In the Crypto Winter
According to CoinMarketCap, there are more than 240 cryptocurrency exchanges in the world, and as the market continues to expand and evolve, the number is expected to increase in the years to come.
➤ Cryptocurrencies: 2,136
➤ Cryptocurrency exchanges: 246
➤ Total market capitalization: $145,377,755,950
➤ 24h trading volume: $32,648,359,809According to Coinmarketcap.com (02 Apr 2019)
Choosing an exchange to trade cryptocurrency can often be a daunting task, for both beginners and experienced traders. Following a rather challenging year of 2018, crypto enthusiasts have become more cautious. Reputation, due diligence, fee analysis, and platform user-friendliness are the important attributes that should be considered before making a final choice.
A Brief History of DigiFinex’s Growth
Headquartered in Singapore, DigiFinex is a relatively new industry player, being registered in 2017 in Seychelles.
In less than two years since inception, the platform has managed to establish itself as a trusted digital asset financial exchange among crypto traders and investors in the Asian markets. DigiFinex provides trading services for over 100 cryptocurrencies. Some of the most well-known are Bitcoin (BTC), Ether (ETH), Litecoin (LTC), EOS, Tether (USDT), as well as the exchange’s proprietary DigiFinex Token, DFT.
Launched in 2018, DFT is an ERC-20 token based on Ethereum’s smart contract system. With total liquidity of 130 million DFTs, the exchange has marketed a total token supply of 2.1 billion, according to information provided by CoinMarketCap.
DigiFinex constantly upgrades itself as a secure and convenient investment channel powered by an industry-leading technology architecture.
At the time of press, DigiFinex had a 24-hour trading volume above $400 million according to CoinMarketCap where it caters to 130 markets, being positioned as the 7thh most active global cryptocurrency exchanges.
Despite starting from ground zero, DigiFinex has made remarkable progress with close to 2 million registered users and 300k+ active traders from more than 100 countries, over 500k app downloads, and a cumulative transaction volume of over USD 65 billion.
At the heart of the DigiFinex exchange there are three main technologies:
- A scalable Hierarchical Deterministic Multisignature (DHM) wallet,
- Smart contract service solutions, and
- Real-time record of users’ transactions.
With the HDM wallet technology available on the platform, users can either opt for a single cold wallet or go with a multi-layer hot wallet to generate a multi-signature collection address. The feature doesn’t just meet wallet security performance, but it also satisfies added requirements pertaining to a user’s address and wallet.
2019: A Year of Further Development
In a recent interview, DigiFinex’s co-founder Kiana unveiled the exchange’s annual plan, including the strategy of token listing, operation structuring and her perspective of the future direction of the industry.
She emphasized that DigiFinex only lists high-quality projects.
“To us, safety and security are very important, so we have very strict listing criteria. For projects that want to be listed, our team evaluates and grades them. Only high-quality projects will be selected. We provide our customers with a ‘fair and transparent’ trading environment, strictly monitor and track the status of listed projects in real time. At the same time, our strict delisting mechanism prohibits any project or individual from controlling the balance of the global digital asset market.”
DigiFinex provides a mechanism for real-time accounting and transaction processing. Following the completion of a transaction performed by a user, the data will be available in real-time. To ensure the reliability and accuracy of all accounts, the system performs constant updates for cache and redundant backups.
The DigiFinex trading fee structure for makers and takers is based on a flat model of 0.20%, which is slightly lower than the industry average of 0.25%. VIP fees can go as low as -0.03% for Makers and are based on the trading volume of a VIP user in a 30-day period.
Over-the-Counter (OTC) Service & Promo Events
In terms of services available, DigiFinex also provides OTC trading as well as promotional events that reward DFT token holders and/or those who reach certain trading volume. The more lock-up DFT, the higher the reward.
Listing over 100 cryptocurrencies covering six markets: BTC, ETH, USDT, TUSD, USDC, and DFT, the exchange native token, DFT, was also made as one of the designated payment cryptocurrencies for the SK JEWELLERY, Singapore’s largest jewellery brand, during their Token Day event.
DigiFinex is led by top-notch technical and financial teams from acclaimed tech companies like Baidu, Tencent and Xunlei; all of them have extensive experiences in network product operations, IT, and blockchain technology. Co-founder of DigiFinex Kiana says that,
“The growth of DigiFinex is based on great teamwork and partnership. For our users, it is an excellent gateway to the digital assets arena. As we constantly improve our trading platform focusing on user education and user experience, we warmly welcome everyone to join us in the development of DigiFinex, share valuable feedback, and let more people understand and appreciate the world of blockchain.”
“Every anniversary is a milestone. Today, DigiFinex is no longer the same as when it first started. With great power comes great responsibility. We understand that as a world leading exchange, we are responsible for promoting blockchain and cryptocurrency adoption by providing the best services not only to our users but also the entire fintech industry.”
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