Introduction:
Digitex is an exchange for the cryptocurrency, but it doesn't charge any fee in trade like most of other exchanges in the crypto trading world.
You would ask, "Then how can this exchange survive in the business?". Good question, this exchange doesn't charge you in trade, but they turn the fee into providing tokens of new crypto. So you don't waste your money for fee, who knows those new tokens would give you more profits in future, or at least something for the fee you leave in trade.
Case Study:
Let us consider a person called "A" joined Digitex exchange and did a trade for a cryptocurrency.
If the "A" does the same trade in any other exchange, he have to leave some part of his coins as a fee for the exchange. Of course, it would not be wrong for collecting fee, but the user "A" doesn't get any thing in return for the fee he pays.
But here in the Digitex, users get DGTX tokens in return for the fee they have paid. So in a way, users get benefited from the fee.
What's the use of holding DGTX tokens (from the fee of trades)?
Good question. The answer is simple, when you have tokens of any crypto, you can buy them when their price is increased in future.
Explanation:
Any business needs profits to run or at least it matches break-even point to stay in the business world. So exchnage or any business cannot exist without profits or enough fund to run the business.
Digitex is also a business organisation. So it does need fund to run the business. But here it is defined as commission-free exchange. Yes, it doesn't collect huge fee in name of transaction free when you trade. Instead it provides the new tokens to keep up the business. No other exchange does this until so far.
It provides DGTX tokens, so the users of this exchange will become holders of DGTX tokens along with the other holders who buy the tokens directly. And these users and holders of the tokens will decide for the issue of the tokens to cover the transactions charges. And automatically the fund will be filled enough in a smart way.
About the Control of the Funds:
Digitex implements decentralized account balance. With this, you will be able to trade for lifetime. Not like many other exchanges which hold your private keys and possibility of losing your funds. So with Digitex, you need not worry about security of your funds. You have the full control of your funds in Digitex.
What Is Futures?
Futures is a contract. This contract would be treated as promise. Here in this case, it promises you to buy or sell the commodity (tokens) for a rate at for a time.
It means, you need not worry about the value of your commodity in future. It values as per the promises by this feature called Futures.
Future of Digitex:
By using the exchange Digitex, users buy DGTX tokens to grow from the commision-free trades. It will become a high level economy in the crypto market.
Due to the benefits commission-free, full-control, and futures contract, users will use Digitex more than other and its future will be built strong.
Difference between Digitex and other exchanges:
For better sound, it should be asked how user can be benefited by Digitex when compared to other exchanges.
The answer is simple, users who use Digitex never loss in the trade while other exchange would make the margin break-even (no profit, no loss), or even loss of the trade.
See this example in the Whitepaper of Digitex:
Source: Digitex WhitePaper
What this example says:
A user tested all these 3 exchanges by trades. And he got profit $25 from the trades, but due to the fees by BitMEX and Kraken, the user could not get that profit and he/she even lost in Kraken exchange. And he could get the whole profit in Digitex only due to commission-free system.
Source: Digitex Blog
Useful Links for Digitex:
Conclusion:
In my words, Digitex is unique exchange for any trader. The reasons behind my statement are the following:
Commission-Free:
Users enjoy here with no fee for the trade in Digitex.Users can hold the tokens and can decide how many DGTX tokens can be issued.
Users have full control over the tokens with the Decentralized account balances.
Futures Contract for safety of the funds value they hold.
All the above reasons say themselves Digitex is future's top exchange in the economy of crypto world.
Note: All the content in this post is written by me (@r-k-m). And the images are sourced well by providing links below the images.
I wrote this post for the contest of @originalworks. Here is the link for the contest:
https://steemit.com/crypto/@originalworks/1250-steem-sponsored-writing-contest-digitex
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My Twitter tweet link:
https://twitter.com/HealthfulLetter/status/1041963799417253888
- HealthfulLetter
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