7 Reasons You Should Be Watching Digitex Futures (DGTX) Right Now
Digitex — A Zero-fee Futures Exchange
Digitex Futures, a commission-free futures exchange with its own native cryptocurrency, DGTX, is about to launch on April 30, 2019. It’s not only zero-fee trading that has everyone aflutter. The fact that Digitex is working on being non-custodial by quarter three of this year really packs the winning punch. Check out at least seven more reasons you need to be watching Digitex right now.
1. Consistent high demand
Ever since its sell-out ICO in January 2018, demand for the Digitex Futures exchange has been high. Investors were literally banging down the door to get hold of DGTX — and many were left disappointed. After all, there aren’t many projects that can claim to have sold their entire token supply in just 17 minutes!
With more than 1.5 million already signed up and waiting for the exchange to launch, Digitex Futures is already smashing records before it opens its doors for trading!
2. A huge and active community
If the Digitex team has proven anything, it’s that it’s highly effective when it comes to marketing. But, in this industry, like any other, great marketing will only get you so far — you need a killer app and set of unique value propositions if you’re going to stay the distance.
Not only have they built a loyal community and one of the most active groups on Telegram, manned 24/7, but they also know how to draw new eyes to the project. With such a high number on the waitlist, this looks to be a highly liquid exchange with a solid user base from day one.
3. Paris Blockchain Week Summit
Another contributing factor to the upward trend for DGTX was the Paris Blockchain Week Summit. Major conferences and summits often drum up investor enthusiasm in the cryptocurrency universe.
In terms of the Paris event, Adam Todd, CEO of Digitex, was a guest speaker during the summit on April 16.
He spoke candidly with Digitex Advisors Bad Crypto on the main stage about the impact that commission-free futures trading will have on the industry. He also participated in a panel on the role of exchanges and brokers alongside co-founders and representatives from SeedCX, Huobi, and Woorton.
All three of his panel participants represent the interests of institutional traders. So, naturally, many questions arose around when crypto will reach the pivotal number of institutional investors to become truly massive.
Adam cut in (in his typical, no-nonsense style) posing the question of why we want institutional traders anyway, receiving several claps and laughs from the audience! He said:
“They control the market, they create an unequal playing field, and they take away liquidity from the pool. At Digitex, we’re only interested in retail traders where we can really help make a difference to their lives and let them make a living with no mechanical edge against them,”
4. A strong leader following his dream
While at the Paris Blockchain Summit, Adam gave back to back interviews, telling BTC TV why he wanted to launch a commission-free futures exchange in the first place. His passion and determination shine through in his words. It’s hardly surprising that he’s amassed such a loyal following of supporters. He revealed:
“I’ve been a futures trader pretty much my whole life. I started pit trading in London when I was 19, and I was always a very short-term trader, so commissions were always been a problem for me. I’ve always had it in the back of my head that I wanted to build a commission-free futures exchange…
…It was only when I discovered Ethereum and that we could make our own token, that I realized we could make it a commission-free futures exchange because, instead of charging transaction fees on trades, instead we could mint a few tokens each year and cover costs that way…
…It’s not completely free, it’s not pie in the sky, there are costs of running an exchange. When you mint tokens there is an inflationary cost, but it’s a much better model for an exchange than transaction fees that stifle liquidity.”
5. The Digitex Treasury
Launched on March 1, the Digitex Treasury is the company’s way of transparently and sustainably funding the exchange into the future without the need to rely on whale investors with undue influence on the project.
As many ICO companies went under and even established cryptocurrency projects like NEM flirted with bankruptcy this year, Digitex has been pragmatic about its fiscal future.
Not quite two months into the two-and-a-half-year-long set of token sales that will release 10 million DGTX every three months, the company has already sold out more than two-thirds of the supply.
Not only does the Treasury give traders an instant trustless transaction, but it also allows the company to glean the maximum price for its tokens, taking advantage of price appreciation over the months. On March 1, the price was trading at just over 5 cents, today DGTX is trading over 11 cents.
6. Traditional futures markets as well as crypto
Digitex will be adding traditional futures markets into the mix shortly after launch. This means that instead of just trading crypto futures, traders can gain exposure to the trillion-dollar futures market and learn to trade Forex, indices, cool tech stocks like Apple and Facebook, and commodities as well. The benefits of this are several.
For crypto traders, they’ll try out new markets commission-free. But for traditional retail traders currently shelling out tons of money in commission fees to brokers, they’ll have the chance to try trading the markets they’re familiar with on a cryptocurrency exchange without paying any fees.
This will open up the futures market and bring many traditional traders over to crypto. With this smart move, Digitex will be helping cryptocurrency enter the mainstream.
7. A highly capitalized and liquid exchange
In markets where speed is of the essence, such as crypto (and especially futures) one of the company’s greatest achievements is its lightning-fast order matching engine and seamless one-click trading ladder interface. Traders can stay in the zone without having to use a keyboard or go through any extra mouse clicks to place a trade.
This is actually a game-changer! Digitex plans to bring commission-free spot trading to the world in Q3 as well, using the same trading ladder. This is something the company believes will change the way people trade for good.
Digitex is probably one of the very few exchanges that can claim to be so well capitalized right from the start. The team has held back 10% of its supply (100 million DGTX) for market making, which means that liquidity is guaranteed from the get-go and traders can easily match their bids.
Digitex Futures is a cryptocurrency futures trading market that lets users place speculative bets on the future price of crypto tokens and other assets. Since DGTX is the only way that traders can access the platform, there’s even more reason that DGTX will climb in the coming weeks.
The exchange token broke through an important resistance level last month — something that BTC has not been able to do yet. The launch date is almost upon us, and traders will soon see that it’s time to leave other platforms like BitMEX behind. The demand for DGTX looks set to rise and it’s definitely worth keeping an eye on this token.