Hello and welcome! Read on as we compare Singapore’s high-flying DigiFinex Exchange with the US arm of Binance, the world’s most traded-on cryptocurrency trading platform.
Compare DigiFinex vs Binance.US
|7 Day Volume|
Trading Fees: Digifinex
The trading fee system at DigiFinex is much like any other crypto exchange, with separate trading fees for makers and takers:
- Makers pay 0.15%
- Takers pay 0.20%
This tiny percentage is their commission and is paid on every trade. The percentage will also reduce based on 39-day trading volumes. This tiered ‘VIP’ system can be seen below:
Note that a ‘lock position’ of 100 DFT will cost you around $6-10 — much easier than having to trade over $100,000 worth of crypto in a month. Holding DFT also unlocks 25% trading discounts, so it’s a win-win.
Binance.US Trading Fees
Since the original Binance platform was banned in the US, it was necessary to create US-compatible trading tools so that the brand could continue to operate there. This decision was a great one, and now the platform’s trading volume is in the top 50 globally.
This US-only platform mirrors the starter fees of the original Binance:
- 0.1% for makers
- 0.1% for takers
Users can pay their trading fees in Binance Coin (BNB) to get a 25% discount. Alternatively, they can follow the trading volume tiers to reduce their costs, as is shown here:
Binance vs DigiFinex: Binance has lower fees.
Sign Up & KYC Experience
A word of warning if you’re reading this from the US, DigiFinex will allow you to sign up and trade KYC free, but some of their services (like derivatives trading) violate US laws. So it’s advised that you choose one of the leading exchanges that are US friendly, such as Binance US!
- Click this link to get started
- Provide your email address and password
- Click ‘Get Code’ and you will receive an instant email
- Type in the code emailed to you
- You’ll now need to set up Two Factor Authentication via Authy or Google Authenticator (recommended)
- You can now start trading crypto KYC-free with a 1BTC daily withdrawal limit
If you wish to get KYC verified, you’ll need to fill in some personal information, submit an identity document, and take a selfie. Confirmation can take up to 3 days.
The signup process can be done via computer or mobile app and are almost identical:
- Click here to join the exchange
- Give your email address and password, then tap ‘Create Account’
- Find a verification link in your email inbox
- Mandatory KYC checks will now begin
- Upload a copy of an identity document, an address-proving document (less than 90 days old), and the personal information requested
- Next, you must set up Two Factor Authentication and then wait for registration approval
Binance vs DigiFinex: DigiFinex is a KYC-free trading platform, which is more appealing to many traders.
Ease of Use & Feel of Website or App
When you start using DigiFinex in a web browser, you’ll notice that it has quite a professional and institutional feel. This, along with great trading interface designs, crypto loan options, margin trading, over 150 coins, and more than 200 markets to attract a high-quality user base. Despite not being as well-known as Binance, DigiFinex is proudly in the top 30 exchanges worldwide for their daily trading volumes.
On the downside, their mobile app has a very low rating and needs some work.
If you take the original Binance cryptocurrency exchange and remove all of the crypto assets, services, derivatives, DeFi tools, and anything US regulators disapprove of, then you end up with Binance.US. It’s a simplified platform for US residents only.
With low fees, 50+ coins, Binance Coin discounts, intuitive trading interfaces, and coin staking opportunities, you still get an incredible user experience unless you live in Connecticut, Hawaii, Idaho, Louisiana, New York, Texas, or Vermont, where Binance.US is currently not licensed.
Binance vs DigiFinex: Both cryptocurrency exchanges are great to use, so this round is a tie.
Getting your funds into DigiFinex
There are no fiat currency deposits permitted on DigiFinex.
Cryptocurrency deposits are allowed if the coins are compatible.
Deposits methods on Binance.US
It is very easy to deposit funds into the Binance US exchange, thanks to these three deposit methods:
FYI: Withdrawal fees mirror deposit fees.
Binance vs DigiFinex: Binance.US takes this round.
Instant Buy Options (Buying with a Credit or Debit card)
Make purchases on DigiFinex
As well as being a busy trading platform, DigiFinex allows users to make instant purchases of around 35 different cryptocurrencies. Furthermore, through the combined efforts of their liquidity partners, Simplex, Mercuryo, and Wyre, over 40 different fiat currencies are accepted.
Purchasing crypto on Binance.US
Binance.US is happy to sell cryptocurrencies directly to its users, with a 0.5% commission fee on top of any charge based on the payment methods.
You can buy crypto via:
- USD Balance – free
- ACH – free
- Wire Transfer – free
- Debit Card – 4.5% charge per transaction
- OTC (Over The Counter – for large institutional purchases)
There are around 50 different digital assets for sale.
Binance vs DigiFinex: Binance US is one of the best crypto exchanges in the United States for brokering coins.
Trading on the DigiFinex cryptocurrency exchange
The DigiFinex trading volume didn’t reach over $1bn per day by accident. This is a top-quality exchange for several reasons, such as:
- Margin trading up to 5x on 11 pairs
- Powerful spot trading features
- Perpetual swaps
- Basic and Pro viewing options
- Real-time data
- Advanced drawing tools
- Access to excellent trading markets
Advanced traders will find this to be a great place to trade crypto.
Trading with Binance.US
Here are some of the great features of Binance US for traders:
- Around 50 coins for purchase (more than most US-only exchanges)
- 119 trading pairs
- Excellent deposit methods to get trading fast
- Access to large market cap projects like Bitcoin, BNB, and Ethereum
- Low exchange fees and withdrawal fees
- Basic or advanced order forms and interfaces based on competence
- Perfect for spot traders who are new to crypto
- Excellent real-time data and tools
Binance vs DigiFinex: When we compare Binance US and DigiFinex for trading experience, it would be fair to say Binance suits beginners and DigiFinex appeals to day traders.
Reputation and Security
Thanks to the combination of regular IT audits to make sure their cold storage and cold wallet technologies are rock-solid, DigiFinex has an impressive security reputation and a zero-hack past.
Customer support is currently available through tickets only, though that is common amongst crypto exchanges.
Most reviews are very positive, with a few downsides: the lack of fiat wallets, deposit methods, and a poor quality mobile app.
The word on Binance.US
Binance US has never been hacked, though its parent exchange has. In 2019, 7,000 BTC were hacked, and since Binance US runs on the same security protocols, there is room for concern. However, note that Binance has doubled down on security since that event and is tighter than ever. If you want additional protection for your digital assets, don’t keep them on an exchange and instead hold them in a private wallet with client-side encryption.
To learn more about Binance’s security, read here.
Binance vs DigiFinex: DigiFinex wins this round.
DigiFinex vs Binance US: Who is our winner?
When we compare Binance US and DigiFinex, we look at one local platform and one global one. This makes them vastly different, but it also provides our answer. Binance US is probably the best US-only exchange on the market, whereas DigiFinex is a great international option. So if you’re a mobile user, Binance US comes out on top.