Digitex, a commission-free bitcoin futures trading exchange, formally launched to the public on Friday.
The launch comes after an extensive period of testing and development as well as the gradual onboarding of traders to the mainnet. Users can now create an account on Digitex and trade bitcoin futures without a fee. Prior to launch, the exchange was already handling 24-hour trading volumes of well over $2 billion.
Digitex’s New Features
Cryptocurrency futures trading is an even bigger market these days than ever before and Digitex is getting in on the action while offering a range of impressive features. First, Digitex offers a very easy sign-up process with no KYC requirements which is beneficial for customers who wish to maintain privacy. In addition to this, the exchange offers a high level of liquidity as well as TradingView charts and graphs. Digitex also offers the industry’s first trading ladder and this allows users to stay in the zone with no additional mouse clicks or keyboard strokes required as well as an interface that is customizable with a number of colors and themes based on individual preferences.
The platform is available to users either from their desktop or their mobile devices which means they can trade as they go about their daily life. In the initial stage, Digitex launched with just one market which is a BTC/USD perpetual swap. However, there are plans to incorporate ETH/BTC and this is already being developed and is available on the testnet. With time, more cryptocurrency markets will be added as well as traditional markets including oil, gold, and the S&P 500.
According to Adam Todd, the CEO and founder of Digitex Futures, the focus is currently on liquidity in one popular market to give the exchange a chance of increasing volume. And that has been achieved as far.
“I wanted to concentrate all the liquidity on one popular market to give us the best chance of getting the volume cranking, and that’s exactly what we’ve achieved,” he said.
Now, the world’s first sustainable commission-free bitcoin futures exchange has gone live and traders exposure to traditional markets as well as constantly trading without fees. The removal of fees was a strategic move to get a footing in the market as well as appeal to scalpers. Scalpers are day traders who trade in a very high frequency and aggressive style in a bid to profit off even the smallest fluctuations in cryptocurrency prices and thus accumulate multiple small profits.
This is something other exchanges do not offer and cannot get into because of their fees but Digitex works around this.
“Not only do they eat into your profits but they actually turn them into losses. Digitex is the first exchange that allows traders to keep 100% of their profits with no house edge working against them. I couldn’t be happier to finally share my dream of commission-free trading with the world,” Todd said.
Within and outside the cryptocurrency industry, there is a belief among some that the only time when gains are made by traders is during large bull runs and that most traders simply wait for major movements to trade. As Digitex has shown, there is a significant market of people who wish to trade during even minor fluctuations. This market has not been fully catered to by the industry and it seems this is about to change. Should the launch and subsequent use of Digitex be a success, we could see more exchanges taking this approach.
Digitex Giveaway on Launch Day
In celebration of their launch, today there will be an all-day trading event in which their CEO will be trading online as well as speaking to influencers within the cryptocurrency sector. Also, there will be a giveaway worth $250,000 DGTX as well as branded merchandise from the exchange. Every half hour, prizes will be given to users and some traders will receive as much as $5000 worth of DGTX. Taking part in this launch day event only requires the creation of an account on the main net and a 1000 DGTX token minimum deposit. These are easily purchased through trustless transactions from Digitex and as long as the balance is maintained throughout the day, users are eligible to win. Their CEO has already expressed excitement at the launch.
“We’re so excited about hitting this major milestone and we’d really like to thank our community for sticking with us this far,” he said. “I also want to let them know that this isn’t the end of the journey. Things are really only just starting now, we’ve got massive plans for the future, you ain’t seen anything yet.”