Ethfinex (rebranded to DeversiFi) Review 2023

Ethfinex is a cryptocurrency exchange that was launched in 2017. The platform is designed to provide users with a decentralized and transparent way to trade a range of cryptocurrencies. Ethfinex is built on the Ethereum blockchain and uses smart contracts to enable peer-to-peer trading. The platform is known for its focus on community engagement, allowing users to vote on which new tokens should be added to the exchange.

Trading Features

Ethfinex offers a range of trading features for its users. The platform allows users to trade a range of cryptocurrencies, including Bitcoin, Ethereum, and a growing number of altcoins. The platform also provides users with access to advanced trading tools, including margin trading and a range of order types. Additionally, Ethfinex allows users to engage in peer-to-peer trading through its OTC desk, which provides a secure and efficient way to buy and sell large amounts of cryptocurrency.

Security Features

Ethfinex places a strong emphasis on security and provides a range of security features to protect its users. The platform uses a multi-signature cold storage system to store users' funds offline, which provides an additional layer of security against hacks and theft. Ethfinex also provides users with two-factor authentication (2FA) and other security features, such as IP whitelisting and session timeouts, to help protect their accounts.

Community Engagement

Ethfinex is known for its focus on community engagement and involvement. The platform allows users to vote on which new tokens should be added to the exchange, and also provides a range of educational resources to help users stay informed about the latest developments in the cryptocurrency space. Additionally, Ethfinex hosts regular meetups and events to help bring the community together and foster collaboration.

Fees

Ethfinex charges a competitive fee structure for its trading services. The platform uses a maker-taker fee model, with makers receiving a rebate on their trades. The platform also provides users with a range of fee discounts and incentives for holding its native token, Nectar (NEC). Additionally, Ethfinex does not charge any fees for deposits or withdrawals, making it a cost-effective option for users.

Overall, Ethfinex is a solid cryptocurrency exchange that provides users with a range of trading features, security measures, and community engagement opportunities. The platform's focus on community involvement and transparency sets it apart from many other exchanges, and its competitive fee structure makes it an attractive option for traders of all sizes. However, the platform's reliance on the Ethereum blockchain may limit its scalability and the range of cryptocurrencies it can support. Additionally, the platform's focus on advanced trading features may make it less suitable for novice users. Nonetheless, for those looking for a decentralized and community-driven cryptocurrency exchange, Ethfinex is a good option.