DigiFinex vs CEX.IO: Features and Fees 2021

Welcome, thanks for joining us. We’ll be taking a deeper look at Singapore’s DigiFinex and the UK’s CEX.IO. Fees, security, instant purchases — they’re all under the spotlight as we compare two of the world’s best crypto exchanges. 


DigiFinex Trading Fees

A traditional trading fee schedule is in place, whereby users pay lower fees when trading increasingly higher cryptocurrency volumes in 30 days. Fee tiers are called ‘VIP levels’ on this platform, and they can also be reached by purchasing (or trading to get) DFT. 

As you can see in the image below, just 100 DFT (around $6) is needed to reach VIP1 and start receiving discounted fees. 

DigiFinex Trading Fees

Another incentive to get ahold of some DigiFinex Token (DFT) is that each taker trading fee paid will be reduced by 25% when DFT is used to cover costs. 

CEX.IO Trading Fees

Like DigiFinex, CEX.IO offers users a traditional fee structure based on accumulated trading volume over the last 30 days. Most cryptocurrency exchanges opt to charge fees in this manner. Still, unlike many of their rivals, CEX.IO measures volume in BTC rather than USD and has no native utility token to bring about discounts. 

At 0.15% for makers and 0.25% for takers, CEX.IO has the more expensive pricing of the two exchanges in this article (for beginners, that is).

If you are looking for some withdrawal fee information, check here

CEX.IO vs DigiFinex: DigiFinex takes this first round.

Sign Up & KYC Experience

DigiFinex Onboarding

US traders: a word of caution. DigiFinex might work in the US, but many of the exchange services violate US trading laws. So it’s better to subscribe to a US-compatible exchange to remain compliant. 

For any non-US residents:

  1. Head to the DigiFinex website
  2. Provide your email address and password
  3. Click ‘Get Code’
  4. Open your emails and copy the confirmation code sent to you
  5. Paste the code into your app/browser
  6. Set up Two Factor Authentication, ideally via Google Authenticator
  7. Woohoo! You’re up and running, you can now trade KYC-free with a 1BTC daily withdrawal limit
  8. To end this limited service and get the full experience, proceed with KYC verification and submit the details requested. This will include your personal information, a copy of your ID, and a selfie

Joining CEX.IO

CEX makes it just as easy for each person on their website/app to sign up and start making cryptocurrency investment decisions. Here’s how to start:

  1. Head over to CEX.IO and click ‘Register’ then ‘Individual Account’
  2. Give an email address, password, your full name, and where you live
  3. Copy the code sent to your email address
  4. Paste that code into your signup form
  5. Your account is now made, but as CEX.IO is a regulated exchange, you will need to provide a form of identity
  6. To increase your limits, you can provide proof of address
  7. You will also need to set up Two Factor Authentication

Please note that Japan, Singapore, and all sanctioned countries are not permitted to use CEX.IO. See the prohibited countries list here.

CEX.IO vs DigiFinex: DigiFinex gives the option to trade KYC free, something few platforms are willing to do.

Ease of Use & Feel of Website or App

DigiFinex UX/UI

First of all, what do we like about DigiFinex’s design?

  • Clean, intuitive, and data-packed chart indicators
  • Plenty of important features for advanced traders, such as margin trading and derivatives
  • Multiple interfaces whether you’re making trades as a basic user or a pro
  • More than 150 coins, spun into over 210 trading pairs

The company now processes over $1bn in daily trading volumes, placing them in the world’s top 30 exchanges for this metric, despite having a relatively unpopular mobile app that could do with some careful review and further development.

Using CEX.IO

British crypto exchange CEX.IO launched back in 2013 and has over 4 million registered users. With daily trading volumes averaging just $50m, however, CEX.IO is considered a tiny exchange. Don’t let the company size fool you though, what they bring to the cryptocurrency market should not be judged by transaction volumes. 

Instead, enjoy CEX.IO for its:

  • Aesthetically-pleasing spot trading with excellent chart indicators
  • Intuitive margin trading for beginners
  • Coin staking to make earnings on your long term investments
  • A top-quality mobile app
  • Great portfolio management tools
  • 24/7 customer support!
  • 105+ coins and 225+ trading pairs
  • US-friendly for users in 48 states

CEX.IO vs DigiFinex: We’ve used both, but we prefer CEX.IO’s white and teal design over DigiFinex’s black and electric blue.

Deposit Methods

Depositing funds into DigiFinex

DigiFinex offers no methods for depositing fiat currency, but if you hold a compatible cryptocurrency, such as Bitcoin, you’ll be fine making crypto deposits.

Making deposits on CEX.IO

Fortunately, CEX.IO is a much more deposit-friendly platform, which means:

  • You get a wallet for each of their supported fiat currencies:
    • GBP
    • EUR
    • USD
    • RUB
  • It also means there are a variety of deposit methods, such as 
  • Bank transfer
    • ACH 
    • SWIFT (variable fees)
    • Domestic Wire (fees paid at sender’s end)
    • Faster Payments (UK bank transfers – free)
    • SEPA (Euro bank transfers – free)
  • E-Wallet
    • Qiwi – Russian Rubles only, charged at 0.99%
    • Skrill
    • Epay
    • Advcash
  • Credit or debit card
    • USD / EUR – 2.99% per deposit
    • GBP – 1.49% per deposit!

If you’re reading this from the UK, that GBP deposit fee is the lowest in the entire crypto world, and the company has seen a 50% increase in British users since being introduced.

CEX.IO vs DigiFinex: CEX.IO is the clear winner.

Instant Buy Options (Buying with a Credit or Debit card)

Make purchases on DigiFinex

DigiFinex gives users different pricing options when they try to buy coins. This is done by partnering with three various liquidity providers: Simplex, Mercuryo, and Wyre. 

  • 35 different cryptocurrencies for sale – mostly large market cap coins
  • 40 different fiat currencies accepted
  • You cannot sell your coins back to DigiFinex or their liquidity providers

Purchasing crypto on CEX.IO

CEX.IO opts to sell cryptocurrencies directly to its users without the use of liquidity partners. This is also a good financial decision, but for other reasons. 

  • The brokerage features more than 80 cryptocurrencies for sale
  • Debit and credit card accepts, for payments made in USD, EUR, RUB, and GBP
  • Card fees as low as 2.99%
  • Sales are just as easy as purchases

CEX.IO vs DigiFinex: CEX.IO wins.

Trading Experience

Trading with DigiFinex

With the DigiFinex trading volume climbing to over $1bn per day in 2021, users can be confident that this is a top-tier crypto exchange and will serve their needs well. This is especially true of high-risk traders who want products such as:

  • Derivatives
  • Margin trading (up to 5x, for 11 pairs)
  • ETFs
  • Perpetual swaps
  • Real-time data fluctuations
  • Advanced trading tools
  • Great data for technical analysis

Trading with CEX.IO

CEX.IO is arguably better-suited to beginners due to its more friendly feel. However, it’s not just an excellent place to buy crypto and start spot trading; it’s also one of the best cryptocurrency exchanges for:

  • CFD trading
  • Coin staking
  • Lending and borrowing crypto
  • Customer support – 24/7 via phone and email
  • Margin trading with the commission-free CEX.IO Broker

With 105+ cryptocurrencies and 225+ crypto pairs, this is a sufficiently diverse section for beginners, but more experienced traders might want to look elsewhere if hunting altcoins. 

CEX.IO vs DigiFinex: Both crypto exchanges win this round!

Reputation and Security

Is DigiFinex trustworthy?

Absolutely! DigiFinex boasts a zero-hack past thanks to its security mechanisms, such as:

  • Cold storage for the majority of funds
  • Cold wallet technology
  • Regular IT review audits

More than 4 million users can’t be wrong! Many large market cap coin projects are happy to be listed on this exchange. 

The word on CEX.IO 

CEX.IO is an equally secure platform for your investment money, having never lost user funds in its nine-year history. Finding a bad word said about the platform is difficult!

CEX.IO vs DigiFinex: Let’s call it a tie.

DigiFinex or CEX.IO: Who is the best cryptocurrency exchange?

After careful review, we’ve selected a winner. Remember, this isn’t investment advice, as each person has different needs as a trader. Instead, this compares two top crypto exchanges, and CEX.IO wins (but only just!).

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