SINEGY

Overview of SINEGY

SINEGY is a virtual currency exchange based in Malaysia. It was founded in 2017 and operates under the regulatory authority of the Securities Commission of Malaysia. The exchange offers a diverse range of 10 cryptocurrencies for trading. Users can make payments through bank transfers, as well as Credit/Debit Card. The platform provides customer support around the clock through live chat and email.

Pros and Cons

Pros Revealed:

• Low fees for takers and makers

SINEGY charges a taker fee of 0.2% and a maker fee of 0.1%, which are relatively low compared to some other exchanges.

• Multiple customer support options

SINEGY offers round-the-clock customer support through live chat, email, and phone, ensuring that users can receive assistance at any time.

Cons Revealed:

• Limited number of available cryptocurrencies

SINEGY offers a smaller selection of cryptocurrencies compared to some other exchanges, which limits options for traders.

• Only accepts bank transfers, Bitcoin, and Ethereum

SINEGY currently only supports bank transfers, Bitcoin, and Ethereum as payment methods, which can be restrictive for users who prefer other cryptocurrencies or payment methods.

Regulatory Authority

WikiBit obtains regulatory information through various channels, including official regulatory websites, public records, and direct communication. The platform's team verifies the authenticity of regulatory licenses and certifications by cross-referencing the information from multiple reputable sources.

WikiBit aims to offer reliable and accurate regulatory information to help traders make informed decisions when choosing exchange/token/project.

As of August 2023, SINEGY reportedly holds an Exceeded Digital Currency License from Securities Commission Malaysia (SCM, No. Unreleased).

Security

SINEGY prioritizes the security of its platform and user data. SINEGY uses a combination of two-factor authentication (2FA), encrypted passwords, cold storage, and other security protocols to keep users' accounts and funds safe.

Cryptocurrencies Available

SINEGY offers a smaller selection of cryptocurrencies compared to some other exchanges, which limits options for traders.

How to Open an Account？

To open an account, you can visit the SINEGY website and click on the “REGISTER HERE” button to initiate the registration process.

Fees

SINEGY provides transparent information about its trading fees and other fees on its website. These fees are relatively competitive compared to some other exchanges in the market.

The maker and taker fees on SWITCHERE are as follows:

Funding Methods

SINEGY supports multiple payment methods for users to deposit and withdraw funds. The available payment methods include bank transfers, as well as Bitcoin and Ethereum. The processing time for deposits and withdrawals may vary depending on the chosen payment method and the specific circumstances.

SINEGY User Review

User 1:

Though it's a bit limited except you are here in Malaysia because I noticed it can't be used in some abroad countries after recommending my friend that is outside here. Its still a very secured space to buy and sell digital assets. I use ringgit to buy Eth, btc and xrp mainly. So you can give it a try

User 2:

Always use SINEGY for trips away, no longer need to worry about bank fees, transfer rates and international rates. Overall a great product.

Conclusion

SINEGY is a virtual currency exchange based in Malaysia that offers a reliable and accessible platform for individuals interested in virtual currency trading. The exchange is regulated by the Securities Commission of Malaysia, providing a level of trust and security for users. SINEGY charges relatively low fees for takers and makers, and their round-the-clock customer support ensures assistance is readily available. A potential disadvantage of SINEGY is the limited number of available cryptocurrencies for trading, as well as the restriction to only accept bank transfers, Bitcoin, and Ethereum as payment methods. Despite these limitations, SINEGY is suitable for beginners, small to medium investors, Malaysian traders, security-conscious traders, and traders seeking reliable customer support.

FAQs

Q1: What are the minimum deposit requirements for SINEGY accounts？

A1:There is no minimum deposit requirement for basic services.

Q2: Does SINEGY provide a wallet service？

A2: Yes, all verified users will be provided with a wallet on the platform.

Q3: Does SINEGY offer its services internationally？

A3: Yes. However, depending on your country of residence, your experience might differ due to banking, “Know Your Customer” (KYC) and “Anti-Money Laundering Act” (AMLA) requirements.

Q4: What are the fiat currencies supported by SINEGY？

A4: SINEGY supports deposits and withdrawals of Malaysian Ringgit (MYR) only.

Risk Warning

Cryptocurrency exchange investments come with inherent security risks. It is important to be aware of these risks before engaging in such investments. Cryptocurrency exchanges are susceptible to hacking, fraud, and technical glitches, which can result in the loss of funds. It is recommended to choose reputable and regulated exchanges, stay updated on security measures, and be vigilant in detecting and reporting any suspicious activities.

Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.