DigiFinex Crypto Derivatives - How to trade DigiFinex Derivatives in India
          

What is Digifinex? 

DigiFinex is a trading platform founded by enthusiasts for cryptocurrency enthusiasts.

The exchange is legally registered as Digifinex Limited, headquartered in Singapore. The platform was launched on December 28, 2017. The site provides open market information and has passed an IT security audit at the SEC level in accordance with US law.

According to unofficial data, the site was launched with the help of technology companies HP, Baidu, Xunlei and Tencent.

In March 2018, the exchange received 30 million yuan in funding from ChainFunder, Green Pine Capital Partners, LINKVC, and HanjianFinance. In April of the same year, the site introduced an internal cryptocurrency - Digi Finex Token or DFT.

Some time later, on October 15, 2018, the exchange launched a transaction fee feature with a 25% discount for DFT holders. In addition, the platform announced a general system of discounts and incentives for holders of the internal token.

DigiFinex cryptocurrency derivatives trading platform
DigiFinex cryptocurrency derivatives trading platform

DigiFinex is a normal platform for trading cryptocurrencies and crypto-currency instruments. The service is accessed through the Website and official APPs on Windows, Android and iOS. The site also provides a service for programmatic access to the service through the API.

The web interface of the site is presented with good usability and is translated into many different languages. These include English, Chinese, Russian, Serbian, Spanish, Portuguese, Korean, Japanese, Vietnamese, Thai, Arabic and more.

What are crypto derivatives?

A derivative is a financial contract about the future price of a security, cryptocurrency, goods or services.

The most common underlying assets in derivatives transactions are commodities, currencies, bonds, stocks, interest rates and market indices, which are usually purchased through brokers.

In recent years, derivatives have been actively used in the crypto industry. Almost all major exchanges have added these instruments to the list of traded ones.

There are four types of derivatives that are actively used by traders in both the classic stock market and the cryptocurrency market:

  • futures
  • forwards
  • swaps
  • options

There is another tool - CFD. As a rule, CFDs are not derivatives or other instruments offered by brokerage companies. Thus, clients who are used to working in the classical currency market can try their hand and trading strategy in the cryptocurrency market. In this case, you will not purchase the underlying asset, which allows you to both buy and sell cryptocurrency.

Derivatives work in a similar way on cryptocurrency exchanges.

DigiFinex trading room
DigiFinex trading room

How does cryptocurrency derivatives trading work? 

An important advantage and difference between derivatives and the standard market is the ability to open trading positions in both directions. Those. when you trade for example futures you can open long and short positions. In the first case, the trader agrees to buy an asset at a certain price in the future, in the second case, he agrees to sell the underlying asset on the expiration date of the contract.

All futures contracts have margin requirements. That is, traders (the seller and buyer of the futures) need to fix the minimum amount necessary for the transaction on their account.

Private investors and traders can work with cryptocurrency futures on platforms such as BitMEX, OKEx, DigiFinex and others. In this review, we will take a closer look at the DigiFinex crypto derivatives trading platform.

DigiFinex ecosystem
DigiFinex ecosystem

DigiFinex cryptocurrency derivatives trading platform provides various types of trading in cryptocurrencies and cryptocurrency derivatives:

  • Spot trading - This terminal is designed for spot and margin trading. The maximum margin is not fixed, and therefore it is set individually for each asset. The trading interface is divided into basic and professional sections. Both provide users with access to the order book, trade feed, zoomable charts, and a custom buy/sell form with trade history. They differ only in that in the professional section additional and auxiliary windows are hidden to increase the space for the chart and order book. The trading itself in this terminal is carried out through the BTC, ETH and USDT markets.
  • Derivatives – In this terminal, users can trade cryptocurrency derivatives. At the moment, the site supports swap contracts for several major cryptocurrencies against USD. The trading interface of the terminal is represented by scalable charts, a DOM, a tape of deals, and a buy-sell form with a history of deals. Trading on DigiFinex cryptocurrency derivatives in India is convenient and simple.
  • ETF (Exchange Traded Fund) - This section provides trading in derivative portfolios of cryptocurrency instruments. These securities are traded against BTC, ETH and USDT. The trading interface is the same as on the previous terminals.
  • OTC - This is a section of the over-the-counter exchange, with the help of which traders exchange cryptocurrency bypassing the rules of the exchange. Trading in this section is also carried out for BTC, ETH and USDT. The interface of this section differs from spot or derivatives, but is designed according to the standard template of such instruments.

In general, it can be noted that DigiFinex crypto derivatives trading platform is a convenient place to trade derivatives.

The main advantages of the web-terminal:

  • Good order execution speed, no requotes or slippage.
  • Among the TOP altcoins there are not very popular, but gradually gaining interest altcoins.
  • You can use technical analysis indicators.
  • Easy timeframe setting, from 1 min. up to monthly.
  • Online chart of the "depth" of the market and order book.
Try DigiFinex crypto derivatives trading
Try DigiFinex crypto derivatives trading

How to trade DigiFinex derivatives in India? 

Trading on DigiFinex derivatives in India is quite easy. You need to register an account and fund your account. Right after that, you can start trading on DigiFinex derivatives in India.

How to register? 

Like other platforms, in order to trade on DigiFinex crypto derivatives in India, you need to register and create an account. Users must go through all the registration procedures for full access to all the functionality of the DigiFinex cryptocurrency derivatives trading platform.

Steps to follow when registering with the DigiFinex derivatives trading platform:

  • Visit the official DigiFinex website and click "Register".
  • Please read all terms and conditions before agreeing to the DigiFinex Digital Asset Exchange Terms.
  • To receive a confirmation email, please provide complete information along with your email ID.
  • Click on the confirmation link sent by mail to become a registered member of the DigiFinex derivatives trading platform.
  • Then provide ID for trading purposes. 

Once verified, users can issue government rewards for unlocks, raise the daily withdrawal limit, and start trading DigiFinex.

After that, you can fund your account and trade on DigiFinex cryptocurrency derivatives in India.

How to register on DigiFinex trading platform?
How to register on DigiFinex trading platform?

How to open a demo account? 

DigiFinex cryptocurrency derivatives trading on a demo account is possible after registering the main account. Then, in your personal account, you can start trading on a demo account.

Deposit on DigiFinex platform
Deposit on DigiFinex platform

How to deposit funds on DigiFinex?

The Digifinex exchange does not support fiat money and does not work with exchangers that sell altcoins for foreign currency. Before funding your Digifinex account, buy or earn cryptocurrency. After that, you can start replenishing the deposit:

  • Log in to the DigiFinex website or app and click "Deposit Account".
  • Select a coin from the list and click Generate deposit address.
  • Copy the received address or scan the barcode and transfer from your crypto wallet.

Pay attention to the size of the minimum deposit indicated in paragraph 3, under the address. If you send an amount less than the established minimum, it will not be credited and the money will be lost.

Minimum deposit amount 

The minimum deposit and withdrawal amounts depend on the chosen cryptocurrency. The table below provides data on the most popular coins, but over time, these data may lose their relevance. Therefore, it is worth double-checking the current data on the official website.

Coin Deposit Withdrawals Commission for withdrawals
BTC 0,0001 0,0001 0,0003
USDT 10 10 5
ETH 0,01 0,01 0,006
ETC 0,5 0,5 0,1
LTC 0,1 0,1 0,003
NEO 1 1 0
EOS 0,1 0,1 0,1

How to withdraw money? 

If DigiFinex derivatives trading has brought you profit, you can easily withdraw funds. To withdraw money from the exchange:

  • click "Remove"
  • select a cryptocurrency and specify the sending address
  • click Submit and confirm the withdrawal

Note that the exchange offers customers automatic withdrawal of funds. This means that your application will be processed within 10 minutes automatically.

DigiFinex derivatives list 

The list of tools is quite large and it is constantly changing. Therefore, for up-to-date information, you should contact the official website of the project.

DigiFinex derivatives list
DigiFinex derivatives list

How does DigiFinex crypto derivatives trading work? 

To perform trading operations, go to the “Trade” section. In addition to traditional on-site trading, DigiFinex allows over-the-counter transactions with cryptocurrencies.

In general, it can be noted that the interface of the trading platform is quite simple and does not differ significantly from trading terminals on other exchanges. 

Advantages of  DigiFinex trading platform
Advantages of DigiFinex trading platform

The DigiFinex exchange is an average platform that provides trading services for crypto-currency assets and derivatives. Trading sections are designed according to the generally accepted standard.

A feature of the project is a multi-level discount system for users. Also, it is worth noting the good multilingualism of the site, which some of the largest cryptocurrency services do not boast of.

In terms of safety, everything is also according to the generally accepted standard. For all the time of work there was no information about the hacking of the trading platform.

However, if for some reason you did not like this marketplace, you can easily find an alternative. It is best to opt for the most popular and reliable platforms such as Binance, Poloniex, Bitfinex, Coinbase and others. 

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GENERAL RISK WARNING:
The financial services provided by this website carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose