How long does it take for DigiFinex contracts to settle?

DigiFinex contracts are settled on a T+1 basis, ensuring efficient settlement of futures contracts compared to traditional T+2 settlement.

Dec 01, 2024 at 04:13 am

How Long Does It Take for DigiFinex Contracts to Settle?

DigiFinex contracts are settled on a T+1 basis, meaning that they are settled on the business day following the trade date. This is in contrast to traditional spot markets, which are settled on a T+2 basis.

The settlement process for DigiFinex contracts is as follows:

1. Trade Execution: When a DigiFinex contract is executed, the buyer and seller are matched and the trade is recorded on the blockchain.
2. Confirmation: After the trade has been executed, it is confirmed by the exchange. This confirmation process typically takes a few minutes.
3. Margin Settlement: Once the trade has been confirmed, the margin for the trade is settled. Margin is the collateral that is required to open and maintain a position in a futures contract. The margin for DigiFinex contracts is typically 10%.
4. Delivery: The delivery of the underlying asset for the contract takes place on the settlement date. For example, if you have purchased a BTC futures contract, you will receive the BTC on the settlement date.

The settlement of DigiFinex contracts is a relatively straightforward process. However, it is important to be aware of the T+1 settlement period before trading DigiFinex contracts.

How long does it take to withdraw from DigiFinex?

The withdrawal time for DigiFinex will vary depending on the withdrawal method you choose. Generally, withdrawals to a cryptocurrency wallet will take a few minutes to process. Withdrawals to a bank account may take a few days to process.

DigiFinex also offers a "fast withdrawal" option for withdrawals to certain cryptocurrency wallets. This option will typically allow you to withdraw your funds within a few minutes. However, the fast withdrawal option may have a higher fee than the standard withdrawal option.

Here is a list of withdrawal times for different withdrawal methods:

• Cryptocurrency Wallet: 10-15 minutes
• Bank Account (SWIFT): 3-5 business days
• Bank Account (SEPA): 1-2 business days
• Fast Withdrawal: 1-2 minutes

What are the withdrawal fees for DigiFinex?

The withdrawal fees for DigiFinex will vary depending on the withdrawal method you choose. Generally, the withdrawal fee for cryptocurrencies is 0.0005 BTC. The withdrawal fee for fiat currencies will vary depending on the currency you are withdrawing.

DigiFinex also offers a "free withdrawal" option for withdrawals to certain cryptocurrency wallets. This option will allow you to withdraw your funds with no fee. However, the free withdrawal option may have a lower withdrawal limit than the standard withdrawal option.

Here is a list of withdrawal fees for different withdrawal methods:

• Cryptocurrency Wallet: 0.0005 BTC
• Bank Account (SWIFT): $50
• Bank Account (SEPA): €10
• Fast Withdrawal: 0.001 BTC

How do I deposit to DigiFinex?

There are a few different ways to deposit to DigiFinex. You can deposit fiat currency via bank transfer, credit card, or debit card. You can also deposit cryptocurrency from a cryptocurrency wallet.

To deposit fiat currency:

1. Log in to your DigiFinex account.
2. Click on the "Deposit" button.
3. Select the fiat currency you want to deposit.
4. Enter the amount you want to deposit.
5. Click on the "Deposit" button.

To deposit cryptocurrency:

1. Log in to your DigiFinex account.
2. Click on the "Deposit" button.
3. Select the cryptocurrency you want to deposit.
4. Enter the amount you want to deposit.
5. Click on the "Deposit" button.

What are the deposit fees for DigiFinex?

The deposit fees for DigiFinex will vary depending on the deposit method you choose. Generally, the deposit fee for fiat currency is 0%. The deposit fee for cryptocurrency will vary depending on the cryptocurrency you are depositing.

Here is a list of deposit fees for different deposit methods:

• Bank Transfer: 0%
• Credit Card: 3.5%
• Debit Card: 3.5%
• Cryptocurrency: Varies depending on the cryptocurrency