Review on SINEGY Marketplace by Temitope Babatunde
Malaysian Reliable Exchange
Sinegy marketplace was established in June 2017 in Malaysia by Kelvyn Chuah and other members of his team. All those that are in the team are all professionals in their various field of specializiation be you Finance or start up tech. The exchange only operate as OTC for few months before the Securities commission of Malaysia come up with a law to stop all exchanges from operating, but happily Sinegy was able to meet up the requirements of the commission.
The exchange accept the fiat currency of Malaysia for deposit and withdraw. But there are only 3 cryptos on the exchange, that is bitcoin, ethereum and XRP. Before a user can use the exchange it is compulsory to do standard KYC.
There is market rebate also, where all the market maker are being paid 0.25 percent in return for using the exchange instead of them paying.
The takers on their part will pay 0.5percent as trading fee and will be reduced to 0.03percent if the person paid with the token exchange which is MKTP token.
The platform interface is user friendly, that is very simple to use and the support team are doing excellent job. The exchange has good reviews accross the internet. So if you are in Malasyia an you want to trade btc, eth or xrp you can choose Sinegy Marketplace and cashing out in your local currency will not pose any problem for you.
Pros
- It is an exchange with fiat piaring which makes it user friendly.
- There is market rebate for market makers.
- While generally in Malaysia, the exchanges charges 1 percent as fees but Sinegy charges 0.5percent for the takers.
- Users can trade accross the market.
- Sinegy follows the governmental regulations, so traders can use it with rest of mind.
- It has experienced team.
Cons
- Users must do KYC before they can use the platform.
- It is only available to Malaysians.
New products
Comments (1)
January 12, 2021
The interesting thing about Sinegy is that it has a very friendly interface which makes it easier for the beginners to use.
The exchange is very secured, as users has to to KYC before usage. It also accept Malaysia fiat currency for both deposit and withdrawal.
