The word "impossible" is becoming irrelevant gradually. Few years back, who would have thought of the invention of a virtual currency and its immense profitability? Few people I say. Now we have different virtual currency serving different important purposes and it give raise to exchange platforms to us with the particular type of cryptocurrency in exchange for another synonymous to Trade by barter in the Early days. Unfortunately, these exchange platforms do not give us the same value we put in for exchange but rather take a portion in the name of fees or commissions. During the system of trade by barter, the value exchanged for is impartial based on the contracts arranged by the exchanging parties. How do we get an exchange platform that gives optimum services for no extra fee or commission? DIGITEX FUTURES EXCHANGE!
WHAT IS DIGITEX
Digitex is a commission free cryptocurrency futures exchange built on blockchain technology. Digitex is an international company based in Seychelles founded by former futures trader Adam Todd. Digitex was as a result of a dream dated back as far back as 90s by its founder to create commission-free trading as a pit trader in London
WHAT ARE FUTURES?
Futures are promises to buy a commodity or asset at a specified
date and time. They are legal contracts based on a certain agreements to buy a commodity at a particular time in future for a particular price.
Cypto traders will find it difficult to believe a commission free exchange platform like DIGITEX FUTURES EXCHANGE. Creating a commission-free by the futures' utopian dream is now a possibility with Digitex. One very important question is How Possible is this? With the creation of DGTX - an ERC223 compatible token built on etherum blockchain. DGTX token will used in carrying out transactions and also margin requirements and accounts are dominated on the exchange platform to eliminate transactions fees on trades within the exchange. With the sole use of DGTX, cover costs are also avoided by creating new tokens instead of charging fees. DGTX token is the token used in by digitex for trading highly liquid futures without transactions or commissions.Digitex has 3 futures markets:
Another reason to believe in DIGITEX, is a Decentralized Account Balance. Digitex does not have access to a trader's asset as assets are saved by Digitex. Assets are stored by decentralized, independent smart contract on etherum blockchain and traders do not have to trust Digitex with their money or fear that their assets can be frozen. Another advantage of decentralized account balance is better security in the sense that if Digitex is compromised and gets hacked, assets are safe as DIGITEX do not access to assets of traders.
Other Benefits of DIGITEX FUTURES EXCHANGE are:
- HIGH LEVERAGE
- AUTOMATED MARKET MARKERS
- COMPLETE PRIVACY
Digitex has 3 futures markets: BTC/USD, ETH/USD & LTC/USD. Each futures contract has a large tick size, which eliminates a lot of noise and allows prices to be displayed on a one click ladder style trading interface, even in volatile market conditions.
As a short term trader on binance, I invest as little as 30$ in buying BTC as it dips and sell when it begins to increase and I sell. Unfortunately, Withdrawing my little 0.002 BTC requires a charge of 0.003 BTC. This is one problem that is avoidable using DIGITEX FUTURES EXCHANGE. With DGTX, I can make trades and withdraw without hassles.
With Digitex, the tick value of every Digitex futures market equals 1DGTX.
Example of FUTURES FOR BTC/USD
Futures Contract: BTC/USD (Bitcoin against the US Dollar)
Tick size (minimum price increment): $5 USD Tick value: 1 DGTX
Taker/Maker Fee: 0%
Funding Costs: 0%
Initial Margin: 20 DGTX
Maintenance Margin: 10 DGTX
Contract Type: Contract For Difference (CFD) Contract Duration: 24 Hours
Settlement Date: Daily at 00:00 GMT
- Trading on Digitex: I bought a 2 BTC/USD Futures contract at 6700$/BTC and it gradually climbs to 7000/BTC and as it begins to dip, I sold all my BTC making about 300$ worth of BTC in profits. Therefore, I made 60 ticks profit on a 2 contract positions which is 120 tick profits which is 120DGTX ( 1 tick equals 1DGTX)
With Digitex, I made Therefore, my profit is 120 * 0.1= 12$ (Assuming DGTX/0.1$)
Trading on BitMex:
Based on 0.075% commission on both buying and selling
Commission on Buying = 2$
Commission on Selling = 3$
Therefore, net profit is 7$ using BitMex
THE TEAM
ADAM TODD
CEO/FOUNDER
LEE MAYNE
Head of Operations
Martin Feeding
Head of IT
Summary:
Digitex Futures Exchange is one of the most thoughtful and innovative project that will be a big win for the cryptocurrency world as it creates a commission-free model which will in turn create a highly liquid futures market by attracting all kinds of traders whether high volume or short term traders especially whose trading strategies are not feasible to due transaction fees. The Demand for DGTX will make its price high and thereby provide for operational cost of the exchange in place of commission. After two years, DGTX will be created with a well audited token creation smart contract and used for operational cost of DIGITEX FUTURES EXCHANGE.
https://steemit.com/crypto/@originalworks/1250-steem-sponsored-writing-contest-digitex
https://twitter.com/Stephen_Mikay/status/1041849094174662657?s=19
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