Commission Free & Trustless Crypto Futures Trading With DIGITEX

hungryhustle (67)in #digitex • 6 years ago (edited)

Cryptocurrency trading is still very lucrative for seasoned traders and many people have entered the arena since the crypto boom we saw during late 2017. Thanks and no thanks to the highly volatile market, people make a lot and lose a lot at the same time. Crypto futures trading might just be the perfect solution to this problem. You do not need big market fluctuations to own a nice profit percentage. Today, I am going to discuss about one of the highly anticipated Bitcoin Futures Exchanges out there called Digitex. It's a trustless, commission free exchange which uses centralized servers and the power of Blockchain Technology. It uses DGTX token to support its costs rather than taking cuts from Trader's profit.

DGTX Token is the native currency of the exchange platform based on an ERC-223 compatible protocol on the Ethereum blockchain. All profit, loses, margins and trades will happen through this token which will ultimately increase its demand over time. In futures trading, you can trade assets worth multiple times the value to deposited. This gives you higher profit margins and hence you can achieve better return on your investments. Users will have to buy DGTX tokens to invest in assets.

As soon as the exchange launches, demand of DGTX token will increase over time and hence there is good chance to see rise in price as well. Since every trader will be fighting to get their DGTX to participate commission free liquid markets, it will automatically raise the demand of this token. For the first two years, ICO funding will be consumed for the product development and no new DGTX will be created to generate ROI by the Digitex Team. DGTX will be supplied and distributed with the following breakdown:

1000M Total DGTX Supply
650M DGTX (65%) DGTX Token Sale
200M DGTX (20%) Digitex Market Makers
100M DGTX (10%) Team (current and future)
50M DGTX (5%) Referrals

You can read more about DGTX Token and its utility in the White Paper Document of Digitex.

Currently Digitex is doing an airdrop to the top 5000 people sign-up on their wait-list for 1000 DGTX each. The top 10 get 100,000 DGTX each. Get Early Access and participate in their bounty program using this link: DIGITEX AIRDROP.

Note: Share, follow & use your referral link to enter the airdrop!

Digitex is using Centralized Servers to solve many problems which Decentralized Servers have:

Latency of on-chain orderbook prevents real time trading.
Lack of privacy on-chain can lead to frontrunning on large orders.
On-chain transactions can be expensive.
Reliability and scalability of on-chain transactions is still an unresolved issue.
Margin trading where the user doesn’t put down the full value of the contract being traded is not yet possible on-chain.

Source: Digitex WhitePaper

All the above mentioned challenges are countered with the usage of centrally owned dedicated servers for the exchange operations. This makes transactions faster and provide a reliable and scalable system.

How Trustlessness Is Achieved!

Through the Hybrid System of Centralized Matching Engine and account balances on Smart Contracts of Decentralized Ethereum Blockchain. It reduces the level of trust and not completely make it trustless. Human interaction with the blockchain will have an impact.

Digitex is not trying to invent a new blockchain. It is rather combining top aspects of both Centralized and Decentralized come together. Because we cannot comprise with the security, privacy and speed. Thanks to Ethereum Blockchain, Digitex cannot control your funds. Private keys remain safe with the users and only users! Smart Contracts will be used to update the account balance by communicating with the Digitex Exchange engine.

Digitex understands the needs of a day trader. They have created a product that helps the customer to have a swift decentralized trading experience without compromising the speed and strength of the network. This hybrid system created through the best features of Centralized Servers & Decentralized Account Balances on Ethereum Blockchain is unique and advanced. Although futures trading is only for the seasoned traders, Digitex will create a decent opportunity for everyone to create good amount of profit with lesser budgets.

CEO Adam Todd, with his team will give the demo of the trading platform during the Malta Blockchain Summit on November 1st & 2nd. This event will give us more clarity on how market is going to shape up for Digitex and its services in the future. Please stay tuned!

Disclaimer

The information contained within this post shall not be taken as a financial advice. I am not a financial advisor and none of your investment decisions should be carried out based on any information presented here. You can lose all of your money by investing. The information presented in this article is for educational and entertainment purposes only.

#futures #zerofees #trading #cryptocurrency

6 years ago in #digitex by hungryhustle (67)

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cryptocurator (65) 6 years ago (edited)

Thanks for sharing this article, I also read an article recently about Malta being very friendly to the cryptocurrency sector, also including a hugely favourable speech from the Prime Minister, Joseph Muscat, who was speaking at the UN about future digital currencies. I don't know if the PM will be at the blockchain summit in Malta but I gather that there is quite a number of impressive speakers - should be a great place for Digitex to showcase their platform.

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hungryhustle (67) 6 years ago

That's absolutely correct @CryptoCurator. Thanks for pitching in. Yes Malta Blockchain Summit is going to huge ones. List of speaker and projects attending the event is quite comprehensive and I am excited to see what Digitex has to show. Their system is going to be the best of both the worlds - Centralized and Decentralized. Cheers!

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