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While Digitex introduced itself as the next-gen crypto futures platform, it doesn’t shy away from the other popular niches. Digitex has promised it will launch its own version of crypto spot trading (commission-free) as well as non-custodial accounts.
Digitex Futures, the world’s first zero-fee crypto futures exchange, has been testing its trading platform for eight months and now the company is finally ready to open its doors to the public. To celebrate its public launch on July 31, the Digitex team will officially host a live trading event with a total prize giveaway of $250,000 worth of DGTX tokens.
There’s a decent chance for everybody to win some DGTX as Digitex will randomly select new winners every half an hour. So, the trading event works like this: Every hour, one winner will get $5,000 worth of DGTX tokens. 30 minutes afterward, another 100 winners will get $200 worth of DGTX tokens. The cycle keeps going until the end of the event.
If you are interested in participating in this trading event, you need to register for an account on Digitex on July 31, and make a 1000 DGTX deposit. To get DGTX tokens, you can buy them from Digitex Treasury or one of its third-party exchange providers like KuCoin.
The Digitex team is surely hoping to capture worldwide attention from the crypto trading community. In the sea of other existing crypto futures exchanges, you always need to find a way to stand out and send your message through attractive trading events like this. If they can capture just a small percentage of active crypto traders with this event, that would be a decent first step to scale up and attract more mainstream traders.
The possibility of having a zero-fee crypto futures exchange sounds appealing to everybody. There are many high-frequency traders and scalpers who don’t like to pay trading fees as their profits can quickly diminish. The concept of zero-fee crypto exchange has always been deemed attractive, especially to certain types of crypto traders.
However, you might be wondering, how does a zero-fee exchange like Digitex work? Don’t they need to make money? Well, that’s the beauty of cryptocurrency. Digitex Futures is still able to fund its development while being a zero-fee exchange due to the creation of the DGTX token. Started through the Initial Coin Offering (ICO) process back in early 2018, the Digitex team successfully raised more than $5 million of dollars in just 17 minutes by selling their DGTX tokens.
Furthermore, they hold some portions of the DGTX tokens in their Digitex Treasury account. Traders and entities who believe in the future of Digitex can get these DGTX tokens with zero slippage in a trustless transaction. The funds that come from these sales are reinvested into the development and marketing of Digitex.
It’s basically a win-win solution for everybody. Scalpers and high-frequency traders benefit a lot from this zero-fee exchange platform. The team also benefits from DGTX token sales. And then, we also have DGTX HODLers who stand to benefit from any future price appreciation.
The cryptocurrency exchange business has always been tough. Many businesses have tried to compete in this space just to get disappointed due to how fierce the competition is. Apart from Binance, Huobi, Bitfinex, Coinbase, BitMEX, and several other big players, most exchanges have failed to attract attention from crypto traders. Analysts claim that when you don’t have any creative effort that separates you from the rest of other exchanges, it’s very hard to stand out.
This is where Digitex Futures differs. Unlike BitMEX or Binance Futures, Digitex doesn’t take any commission from your trading activities. The fact that it eliminates trading fees from its platform should be able to attract plenty of scalpers and high-frequency traders as they always want to trade with as low fees as possible. In any scalping strategy, everybody knows that trading commissions can be a big killer.
Digitex also promises deep liquidity, a very fast order matching engine, and a simple KYC-free registration process. Many traders feel enthusiastic about the upcoming public launch because Digitex offers plenty of strong and new features that are not available in existing crypto exchanges such as a one-click trading ladder interface.
While Digitex introduced itself as the next-gen crypto futures platform, it doesn’t shy away from the other popular niches. Digitex has promised it will launch its own version of crypto spot trading (commission-free) as well as non-custodial accounts.
Recently, non-custodial crypto trades have become very popular due to the rise of DeFi protocols and popularity of DEXs. If Digitex can attract the non-custodial market alongside its traders on its futures market and spot market, it has really serious potential to be the next big crypto exchange to compete directly with the traditional big boys.
For many Digitex loyal supporters, the above trading event is something they have been waiting for since the successful DGTX ICO in 2018. After some delays in their platform development last year, finally Digitex will launch its platform to the public.
Whether Digitex will be able to attract crypto traders with its zero-fee trading option and attractive trading events remains to be seen, but it’s definitely an interesting project to watch.
Cryptocurrency investor, journalist, analyst, and growth hacker. I cover crypto, blockchain, crowdfunding, and education.
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