Introduction
The markets or exchanges of cryptocurrency have become a business for those who operate them. Within the markets is where you buy, sell or transfer virtual currencies through blockchain technology, this creates a certain level of dependence within this technology that as you know is evolving very fast.
When you buy, sell or perform any transfer of cryptos there are many exchanges (intermediaries) that have similar characteristics. All operate within a competitive space and the fees of the commissions for each transaction that is carried out remain in your hands.
What are future contracts
Future markets are a new method of conducting a negotiation of a product, whether assets, commodities, stock indices and / or stocks, this in order to maintain the order that the customer has requested in time, with a price just established, in case the product increases or decreases its value, the user would not be losing.
A future contract is nothing more than an agreement between two people, but this will be established for the future, in other words: a future contract is an agreement made by two people, in which they establish a series of conditions or guidelines to carry out in time, either:
The payments
The product that is being offered
The value it has
Currently the future contracts are made by professional entities with the objective of satisfying the client, as long as a fair negotiation is carried out between the seller and the buyer, there may be a contract that lasts over time.
But, how do the Bitcoin Futures markets work?
Futures markets allow traders to buy and sell bitcoins with only a fraction of the amount they would normally need to buy and sell bitcoin at the real price. However, they have two specific problems:
1.- High transaction fees: For example if a merchant buys a bitcoin at $ 8000 and then wants to sell it at $ 8002, the merchant in this case earns $ 2 at that merchant. However, in that market they charge $ 20 for the transaction. This really means that he had no gain.
2.- Accounts of centralized operators: The second problem is that because the accounts are centralized you must have confidence in the transaction of money. When this happens, there is always the risk of being stolen by cyber-pirates, of having your money withheld by an exchange or simply being held by an entity with authority.
When investing in an ICO, the first thing you think is how to make transactions avoiding these risks and using the best transaction rates. This is what Digitex is basically trying to solve.
What is
Digitex Futures
Digitex are solving a big problem to get rid of those transaction fees. Digitex is a cryptocurrency futures exchange where operators can buy and sell futures contracts in Bitcoin, Ethereum and Litecoin without marketing charges. The free commerce of commissions is possible thanks to the invention of the own cryptocurrency of the exchange, called token DGTX, where commercial gains and losses are denominated in the market.
How do they do that?
They use their DGTX tokens as currency in their exchange. Basically, when you buy crypto in Digitex, you will pay with the DGTX token, and when you sell your payments they will also be in the token. The tokens is already available for purchase in several cryptocurrency exchanges, including Mercatox, and is included in Coinmarketcap. The minting token makes it possible to execute the exchange without charging fees.
The most relevant features in Digitex
- Your original currency, the DGTX token
- Everyone can invest, even if you only have $ 10.
- The balance of the account of each user is determined in DGTX tokens, the margin requirements are paid in these tokens and all other gains and losses are in DGTX tokens.
- Each user account balance of DGTX tokens is maintained through a decentralized and independent smart contract in the Ethereum blockchain, not by Digitex itself.
- Digitex excludes transaction fees at all merchants and satisfies operating costs when producing and selling new DGTX tokens each year.
- Each new token event starts and passes through the DGTX owners with the use of a Decentralized Governance system by Blockchain.
- The demand for DGTX tokens, from thousands of operators who must own them to participate in futures transactions without commission, will absorb the relatively small amount of newly created tokens used to cover the costs.
- The Bitcoin, Ethereum and Litecoin futures markets are open 24 hours a day, 7 days a week at Digitex.
- Operators want to work in Digitex Futures Exchange due to the characteristics of decentralized account balance and no commercial fee.
- With 700k tokens released for sale, they have set a maximum limit of $ 7m for their ICO. This is surprising and generates good faith in investors, since they are less likely to escape with lots and lots of money.
How does the market work?
It is very simple. To enter the market you must obtain the native Digitex cryptocurrency. This platform eliminates transaction costs when new DGTX tokens are created. In the exchange, for example, a merchant can buy $ 10,000 with his DGTX tokens and later sell them to $ 10002, obtaining a profit of $ 2 and without having to pay additional costs per transaction.
Smart contract in Digitex
Digitex does not work as an authoritative entity that can hold your money. The balances of the accounts in Digitex are established within a decentralized intelligent contract of Ethereum, this means that if the platform is attacked by a cyber pirate your money remains safe inside your wallet.
How does it remain operational?
As users acquire DGTX, the operations will attract more users and this will increase the liquidity of the tokens, this means that, As the number of Digitex operators increases, there will be a corresponding increase in the internal demand of DGTX. All commercial activity in the Digitex exchange will be done with DGTX tokens. All operators will use and possess DGTX tokens.
Bitmex vs Digitex
Bitmex
Bitmex is simply an exchange of bitcoin derivatives. A derivative is a futures contract where the value of the contract is subject to the value of the asset that is being marketed.
Bitmex does not get involved in the activity of exchanging fiduciary currency for bitcoin.
It uses a complicated method to charge marketing fees to its customers, rates that are placed on the side of the sale and on the side of the purchase.
Bitmex charges high percentages of commission to its customer base. It uses a negotiation interface in a control panel.
Digitex
Digitex Futures Exchange offers 100% transactions without commissions.
The Ethereum blockchain is used to handle deposits and withdrawals from Digitex.
Digitex offers a minimum price fluctuation of $ 5.00 in regards to your Bitcoin contract.
Digitex uses a negotiation interface with a single click. You can perform operations quickly by just moving the mouse.
Final considerations
Digitex abrió las puertas a nuevas experiencias en el mercado de criptomonedas, este mercado de futuros libres de comisiones estable, rápida y segura está atrayendo a nuevos inversionistas y logrando que estos se adentren más en el tema de las criptomonedas. Además de esto los futuros emprendedores e inversionistas tendrán la posibilidad de hacer negociaciones a corto plazo, con lo que podrán ampliar sus oportunidades de inversión y gestionar los riesgos asociados de una manera más efectiva.
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References
Sitio web de Digitex
Digitex WhitePaper
Blog de Digitex
Telegrama Digitex
Digitex Reddit
Digitex Facebook
Digitex Twitter
Digitex YouTube
By @norkamoran
digitex2018
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Very nice information...!
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