https://ipfs.busy.org/ipfs/Qmb4cKaUxF1cqUxu174jNbSgZr11UZKzYcTw2vu6mCAzNn
If you are even vaguely interested in crypto then I am sure that you like the idea of making money. so how about me starting this post by offering you the opportunity to get hold of some freshly minted crypto.
All that you need to do is to sign up here for an early access to the Digitex futures exchange, spread the word and you could be one of the beneficiaries to get the Digitex tokens for free.
Talking of Free I must reassure you that you are going to read this word a lot in my post because we are talking about the Digitex futures exchange which happens to be...
The first commission free Futures Exchange on the blockchain.
If you are not familiar with futures trading then let me explain
Futures are a promise/contract to buy something at a specific date - a standardized asset or commodity (apples, oranges, etc), at a specific price.
Volatility is an essential part of markets and futures play the role of market stabilizers.
Investopedia Definition of a futures contract
"A futures contract is a legal agreement to buy or sell a particular commodity or asset at a predetermined price at a specified time in the future. Futures contracts are standardized for quality and quantity to facilitate trading on a futures exchange."
The the current futures trading exchanges for crypto
There are a number of conventional and much used cryptocurrency exchanges . Some of the common once are exchanges like bitmex.com and Kraken.
They charge a commission for allowing a trader to do a futures trade. However even before that a user is supposed to sign up and create an account.Then he is supposed to add funds into his account for the purpose of trading.
All the while a trader remains active on the exchange or waits for the right time and opportunity to execute a trade his funds remain in full custody of the exchange .
If for any reason the security of the exchange gets compromised and the funds get hacked The user stands to lose his capital.
Even in the normal course of operations if there is a currency hard fork for the currency of the user held by the exchange then the user is entirely at the mercy of the exchange which may decide to pass on or withhold the benefits of the hard fork to the user.
The same is the case for any airdrop based on the coins held by the exchange on behalf of the user. Since the private keys of all such funds are held by the exchange so all practical purposes the exchange is the owner of the coins and token that belong to the user.
Even if we do not consider all these possibilities and focus only on the day to day trading of the futures exchange then it may be noted that the futures exchange charges you a commission that is its fees on every trade.
It does not matter whether you profit or lose on a given trade you still have to to pay the commission to the exchange. currently this is how exchanges work and most people expect little change in this regard.
The Digitex Change is Already Here (It would be fully functional very soon)
A better world awaits the cryptocurrency futures traders as Digitex brings to the fore a "free futures trading exchange"
This is a revolution in itself. Can you imagine the existence of a business model where a cryptocurrency futures exchange lets you trade for free for ever with no restriction.
It also encourages you to bring in more people to get an early access to the exchange and it is willing to reward you with its native currency the DGTX tokens for spreading the word.
How does the free trading model of Digitex works ?
Since Digitex does not charge any fee for the trades it still needs funds to run the exchange. So it creates more DGTX tokens to cover the expenses.
The idea is that though creation of new tokens can reduce the value of these DGTX tokens and can be seen as an act working towards devaluation of the DGTX currency.
To counter this and make the tokens appreciates in value the Digitex exchange model works as follows
- The Digitex tokens DGTX would be the only currency used in the exchange.This would be the native currency of the exchange and all trades would have to be carried out against the DGTX tokens.
- So a trader would have to buy the DGTX tokens in order to carry out the commission free trade on the the Digitex futures exchange.
- The commission free trade opportunity should boost the volume of trades happening on the exchange this would mean that a trader needs to buy more Digitex tokens to carry out the trades.
- As the news of this free of cost trading opportunity in the futures market of crypto spreads it would surely make more people come on to Digitex buy more tokens and trade. This would keep boosting the volume of trade.
As a result of this ever increasing demand for the DGTX tokens their value would keep going up over time. - A zero fee trading opportunity created by Digitex means more people can try out futures trading in crypto without having to pay large fees or commissions to the exchange.
- This also implies the trades that are bringing in small profits also become viable and help the trader earn decent returns as can be seen in the image below.
- Digitex is modelled on a democratic structure where the DGTX token holders decide when and how much tokens need to be minted.
Each DGTX token = 1 vote
This structure would ensure that the stakeholders that is the DGTX token holders would use their wisdom to create a balance between the value depreciation caused by the new token creation,increased demand creation and the appreciation in the value of the tokens. - Digitex does not hold the private keys of the user funds instead an etherum based smart contract holds and releases the funds based on the trades carried out on the Digitex futures exchange.
The Digitex ICO was a superhit
The Digitex ICO got sold successfully as it raised $5.2 million in just 17 minutes.
Currently Digitex is inviting people to sign up for an early access to the exchange when it starts operations in the near future.
What more to expect from Digitex in 2018
The Digitex revolution is already underway and would progress as per the roadmap shown below
This sure promises to be a game changer in the cryptocurrency futures trading market and you could be a part of it by signing up here
More Information & Resources:
- Digitex Website
- Digitex WhitePaper
- Digitex Blog
- Digitex Telegram
- Digitex Reddit
- Digitex Facebook
- Digitex Twitter
- Digitex YouTube
https://steemit.com/crypto/@originalworks/1250-steem-sponsored-writing-contest-digitex
Twitter Link:
digitextwitter
digitex2018
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Exclusive link eh?
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do I have to update
I just checked your account @thetimetravelerz and sadly I realized that you didn't post anything for very long time already. Did you give up on Steemit? :(