SINEGY-Marketplace is the latest fiat-crypto exchange to be introduced in Malaysia following the success of its SINEGY-OTC (traded over USD $16M within 6 months since launch). Apart from supporting MYR pairings for Bitcoin, Ether and Ripple, the Marketplace offers a 0.25% rebate bonus for all executed Maker-orders, giving you better savings than any other exchanges in the region.
Here are 7 more reasons why you might want to consider giving it a try.
01 – FIAT PAIRINGS (ESPECIALLY MYR!)
This will come as good news to most Malaysian cryptocurrency enthusiasts and traders alike as SINEGY-Marketplace allows for fiat funding and withdrawal, especially in Malaysian Ringgit!
02 – MAKER REBATES
Fancy jargon aside, Maker basically means that you are posting an order (buy or sell) in the exchange. When your order gets executed, instead of paying a Trading Fee, SINEGY rewards you with a 0.25% rebate on your trade volume. SINEGY is perhaps the only exchange in the region offering such a deal!
03 – COMPETITIVE TRADING FEES
While most trading platforms in Malaysia are charging an average of 1% of the trade volume as Trading Fee, SINEGY-Marketplace charges only 0.5% Taker Fee (a Taker is one that executes instant orders on the orderbook). The fees drop dramatically – from 0.5% to 0.003%, when you trade using MKTP Tokens (the native token issued by SINEGY-Marketplace).
04 – TRADE CROSS MARKETS
One unique feature that is available on SINEGY-Marketplace is that it allows for you to trade across markets. This simply means, any assets listed on Marketplace can be traded against another – altcoin/altcoin, altcoin/fiat, large cap coins/large cap coins. According to Kelvyn, the founder of SINEGY – this feature is to enable greater liquidity between all digital assets. While this feature is still at a beta phase, the developers at SINEGY are working on an enhanced version of this tool.
Example: The difference of pairing structures between a conventional exchange and SINEGY-Marketplace.
05 – REGULATORY COMPLIANT
As one of the Reporting Entity to Bank Negara Malaysia, SINEGY is serious about keeping their business friendly to global Anti Money Laundering regulations to prevent the flow of illicit funds. In order to trade on the Marketplace, all registered members are required to go through standardized Know-your-Customer (KYC) procedures to ensure maximum accountability.
06 – EXPERIENCED TEAM
A factor that has allowed SINEGY to scale tremendously within a year of setting up the operations has largely got to do with its team of seasoned professionals from various backgrounds such as Finance and tech startups. The team is led by Kelvyn Chuah, whom before founding SINEGY, was one of the youngest Malaysian traders to obtain a Series-7 qualification. Kelvyn initially served at the Bank of America as the VP for Foreign Equity Trading. Subsequently, Kelvyn was headhunted to join TD Ameritrade which is one of the largest equity brokerage firm in America.
07 – BEGINNER FRIENDLY INTERFACE
One of the obstacles that hinders the public’s adoption of cryptocurrency is largely because the interface of most public exchanges are adapted from Forex and Stock brokerage platforms. However, SINEGY-Marketplace has adopted a simpler design that will sit well for beginner traders. Having said that, SINEGY is launching an advanced view of their trading platform in Q1-2019.
At the core of it, despite being a relative newcomer to the industry, SINEGY has garnered positive reviews from the cryptocurrency community in Malaysia and we are looking forward to hear more developments from their progress.
If you are keen to chat with the folks from SINEGY, they have a friendly team.
Do join their Official Telegram community here.