Sinegy is a centralized crypto exchange offering access to five digital assets: BTC, ETH, ADA, SOL, and XRP. The base currency in all trading pairs is the Malaysian Ringgit (MYR). The minimum deposit and minimum trade size are MYR 1 and MYR 30, respectively.
Sinegy; An Introduction to the Crypto Exchange and Its Background
SINEGY DAX Sdn.Bhd. (Company No. 1424796-U) was founded in 2017 in Malaysia by "Kelvyn Chuah".
The platform is a Digital Asset Exchange (DAX) regulated by the Securities Commission (SC) Malaysia. It supports MYR deposits and Crypto/Fiat pairs. The exchange officially launched its services on April 8, 2020.
Sinegy Specific Details
Let’s take a quick look into the crypto exchange’s offerings and features.
Exchange | Sinegy |
Launch Date | 2020 |
Levels | Tier 0 - 5 |
Trading Fees | Maker 0.0% Taker 0.25% |
Restricted Countries | Iran, North Korea, Cuba, Sudan, Yemen, Syria, Russia, Ukraine |
Supported Coins | 5 |
Futures Trading | No |
Minimum Deposit | MYR 1 |
Deposit Methods | Bank Transfer, FPX, TNG eWallet, Crypto |
Withdrawal Methods | Crypto, Bank Transfer |
Maximum Leverage | 1:1 |
Minimum Trade Size | MYR 30 |
Security Factors | 2FA, Compliance with Malaysia SC |
Services | Spot Trading, Referral, MYR Trading Pairs |
Customer Support Ways | Email, Ticket |
Customer Support Hours | N/A |
Fiat Deposit | Yes |
Affiliate Program | Yes |
Orders Execution | Market |
Native Token | No |
User Levels and Fee Reduction
The exchange offers fee discounts in a tiered user level system based on the MYR monthly trade volume, which is calculated on a daily basis.
Tier | 30-D Trading Volume (MYR) |
Tier 0 | 0 |
Tier 1 | 100K |
Tier 2 | 500K |
Tier 3 | 1M |
Tier 4 | 5M |
Tier 5 | 10M |
Sinegy Trading and Transaction Fees
While the default trading fee is 0% for makers and 0.25% for takers, the exchange offers discounts based on the user level.
User Level | Rate Discounts |
Tier 0 | 0% |
Tier 1 | 5% |
Tier 2 | 10% |
Tier 3 | 15% |
Tier 4 | 20% |
Tier 5 | 25% |
Sinegy Exchange Digital Assets
The platform offers spot trading on 5 MYR/Cryptocurrency trading pairs, including:
- Bitcoin (BTC)
- Ethereum (ETH)
- XRP
- Solana (SOL)
- Cardano (ADA)
Leveraged Trading
At the time of writing this Sinegy review, the platform does not offer Futures or Margin trading options. This decision aligns with their focus on providing a straightforward and relatively low-risk trading environment for Crypto Spot trading in Malaysia.
Sign Up and KYC on Sinegy
Sinegy Verification has three levels with different funding limits: Tier 1 (Max MYR 10K), Tier 2 (Max MYR 300K), and Tier 3 (Max MYR 1M). Follow the steps below to register and verify on Sinegy:
- Visit the exchange’s official website
- Click “Sign Up”
- Fill out the registration form
- Click the verification link sent to your email
- Navigate to “Account” and then “Account Verification”
- Provide personal information and a photo ID/selfie for KYC 1
- Upload proof of address, such as a utility bill or bank statement for KYC 2
- Provide additional documents like income statements and source of funds documentation for KYC 3
Sinegy Exchange Security Measures
The Malaysia Securities Commission (SC) oversees the platform’s activities. However, it doesn’t perform well concerning security measures.
We must mention in this Sinegy review that the exchange hasn’t disclosed many details about its security factors on the official website. The only disclosed security method is:
- Two Factor Authentication: enabling 2FA for an additional layer of account security
Deposit & Withdrawal Options
Sinegy supports crypto and MYR transactions. While crypto deposits are free of charge, withdrawals come with a network fee as follows:
Digital Asset | Withdrawal Rate |
Bitcoin | 0.00004 BTC |
Ethereum | 0.004 ETH |
Solana | 0.005 SOL |
XRP | 0.2 XRP |
Cardano | 1 ADA |
MYR withdrawals are processed via bank transfers with no transaction fees. However, there are multiple methods for funding accounts with Malaysian Ringgit. Sinegy MYR deposit options:
- FPX: 1.5% fee
- TNG eWallet: 1.5% fee
- Bank Transfer
Sinegy User Experience
The Sinegy CoinMarketCap profile indicates that the platform is inactive. However, the website has over 2.7K monthly visits. Nonetheless, the exchange has no trust score on reputable review platforms like Trustpilot, ForexPeaceArmy, or CoinGecko.
Investment or Growth Plans on Sinegy Exchange
While the platform doesn’t offer investment plans like Staking or Copy Trading, it provides a comprehensive affiliate program in 3 levels for passive income, including:
Affiliate Level | Commission |
R-Level 3 | 10% |
R-Level 2 | 20% |
R-Level 1 | 40% |
Writer’s opinion and conclusion
Sinegy provides access to Crypto Spot trading with a default Maker/Taker fee of 0%/0.25%. The exchange supports FPX and TNG eWallet deposits with a 1.5% transaction commission.
