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[NOTE: This article
should not be construed as investment advice. For advice on investing,
purchasing/selling Bitcoin and other cryptocurrencies, and buying/selling
futures contracts, please contact a licensed financial advisor. The reader is
responsible for his own investments. Disclaimer: this article contains referral
links].
Introduction
Hey everyone! NJ Bridgewater
here to let you know 10 reasons to buy Digitex [DGTX] and sign
up for their early access waiting list. If you want to buy DGTX,
there are currently three exchanges which offer DGTX tokens, including Mercatox.
I’ll provide a link to Mercatox in
the description below. Now, I must preface this by saying that this is not
financial advice, but simply my own thoughts and opinions. I’m not an expert on
finance or investment. However, I have been interested in Digitex since its ICO
back in January, and I think that it has really great prospects and a good shot
of becoming a significant player in the Bitcoin and cryptocurrency futures
marketplace. Before we begin listing the top ten reasons to invest in Digitex,
let’s go back to basics: what
is Digitex?[1]
Digitex is the first commission-free cryptocurrency futures exchange, which
aims to offer futures contracts for Bitcoin, Litecoin and Ethereum, which are
three of the top cryptocurrencies at the moment. They are not currently
planning to offer Bitcoin Cash futures, but this is not surprising, given
Bitcoin Cash’s current decline and fragmentation. Litecoin and Ethereum have
both been around for a while, and Bitcoin is the uncontested king of the
cryptocurrency space. For more on Bitcoin, check out my video and article on ‘What
is Bitcoin?’ I have written a longer and a shorter version of the
article. The long
version can be found on my Crossing the Bridge blog,[2]
while the
shorter and more concise version can be found on the Digitex
Futures Exchange blog.[3]
Futures Exchanges
I won’t go into detail here
about what a futures exchange is or what futures contracts are. For more
information on that, I’d recommend you check out my longer article entitled ‘Digitex:
A commission-free cryptocurrency futures exchange (my review)’ on my
blog. There, I explain that futures contracts are a useful way of hedging
against potential losses or gains in an asset, as well as giving investors the
ability to speculate on the price of an asset. Thus, one can speculate that
Bitcoin will go up or down in value and bet accordingly. In this sense, it’s
similar to betting on a race. However, your bet can be informed by trading
chart analysis, news and other information. The leading player in the futures
exchange market is BitMEX, which you can
find a link for below. However, BitMEX charges fees
for every transaction, which is a significant disadvantage for the investor.
Digitex, in contrast, is a commission-free exchange. So, what are the top 10
reasons to buy or invest
in Digitex? Here they are:
Ten Reasons to Buy
Digitex [DGTX]
1. It’s the first commission-free futures
exchange:
This cannot be emphasised
enough. One of the main problems with futures trading is that you have to not
only do well, overall, with your bets on the market, but you also have to
recoup the cost of commissions on the exchange you’re using. This is the
problem with BitMEX, which charges
a commission when you purchase a futures trading contract.
2. It has its own native
token, DGTX:
This is incredibly important
because all the ticker prices are priced in Digitex. Instead of buying a
futures contract in dollars or euros, the value of the contract is priced in
DGTX. This means that everyone has to buy DGTX in order to use the exchange.
According to the law of supply and demand, this means that, the more people who
use the Digitex
Futures Exchange, the higher the eventual value of each DGTX token.
3. DGTX holders have the
power to decide on the amount of new tokens
One of the biggest worries
when investing in cryptocurrency is the possibility that it might be inflated
over time. This is the case with XRP, the crypto-token used by Ripple. It’s
also the case with Ether (ETH)—and many other tokens. However, with DGTX,
although there will be some inflation by 2021, this is entirely in the hands of
the token holders. They will able to vote on the exact amount to be created,
with 1 DGTX equalling one vote. In other words, if you buy and hold DGTX, you
will be able to vote on the issuance of new tokens. New tokens are essential, however,
as this is the way that the exchange raises money to keep on functioning.
4. The supply of DGTX
tokens is small
While some popular tokens,
such as TRX and ADA, can now be numbered in the billions (or tens of billions),
not to mention XRP, which has a maximum supply of 99,991,852,985 XRP,[4]
Digitex sits comfortably at a current maximum supply of 1 billion DGTX, with a
circulating supply of only 700 million DGTX. That’s great, because it means
that the value of 1 DGTX can ultimately be much higher than the value of 1
token which has a supply of 10 billion or 100 billion. It doesn’t take a huge
marketcap for the price of DGTX to rise to a decent amount.
5. The ‘DGTX-peg system’
This is particularly cool.
We’ve already mentioned the fact that all contracts are priced in DGTX.
Moreover, the DGTX peg-system allows the DGTX sale price to be locked in
without having to actually exchange possession of the DGTX tokens, which is
great for traders who want to lock-in the value of their tokens while doing a
futures trade during periods of market uncertainty.[5]
What investors like most is certainty, so this is a particularly good innovation.
6. The ‘Digitex Market
Makers’
These are basically trading
robots which are programmed to break even while placing bids and offers,
increasing liquidity on the platform.[6]
This is made possible by the fact that the trading bots have a large amount of
DGTX at their disposal—some 200 million DGTX, which is 20% of the total number
of DGTX tokens.[7] According to the Digitex
whitepaper, “Digitex market makers… help create liquid futures
markets that have tight bid and offer spreads, even in volatile market
conditions.”[8] This ensure that “a large
number of DGTX tokens are actually being used actively for the purpose of
trading, with all the beneficial network effects that brings, rather than those
tokens sitting dormant in a speculator’s wallet”, helping “to create very
liquid futures markets from day one, which combined with zero transaction fees
will attract a large number of traders to the Digitex Futures Exchange.”[9]
7. One-click ladder
trading
Uniquely in the
crypto-space, the Digitex
Futures Exchange utilizes a ‘one-click ladder trading interface.’[10]
This is one of the main advantages of Digitex that Adam Todd, the founder,
frequently mentions in interviews. What’s the benefit of a trading ladder?
Multiple clicks can cost valuable time when it comes to futures trading, leading
to lost opportunities and missed trades.[11]
Having a trading ladder interface means that traders can instantaneously
purchase a contract and avoid missing a crucial trade. As far as I’m aware, no
other platform currently has this functionality.
8. DGTX is doing well in
a bear market
While everything else—or
practically everything else—perhaps with the exception of the meme-coin, DOGE,
is down, DGTX seems to be doing very well. As of the 13th of
September, the price of Digitex stands at $0.031348 USD.[12]
This is more than THREE times the ICO price, which was $0.01. In fact, even
more so, as ICO investors got an additional discount for purchasing on the first
(and only) day of the ICO. The original Digitex token sale raised $5.2 million
USD in only 17 minutes, by which time all the tokens had been sold.[13]
That’s an incredible result, and it’s even more incredible that the price has
trebled within a matter of 9 months.
9. There is growing
interest in DGTX
Digitex is not an obscure
project, nor has it ever been, but interest in the platform is growing at an
astonishing rate, with new blog reviews, video reviews and social media
comments growing day-by-day. This includes my
own blog review which I published not long ago. The Digitex
marketing team are leaving nothing to chance and are doing an excellent job of
promoting the brand.[14]
This is enhanced by the Digitex
Early Access Waitlist, which is part of the 6,000,000
DGTX giveaway.[15]
As interest builds in the platform, more and more people will continue to sign
up, leading—hopefully—to a successful launch of the platform. For more on the
giveaway, click
on the link in the description below.
10. It will be
operational in Q4 2018
This isn’t a long-term bet.
The Digitex
Futures Exchange will be launched in Q4 of 2018, which brings us to
December 2018 at the latest. As such, there is no reason to worry that the
exchange won’t be up and running. Those of us who have been interested in
Digitex from the start have had to wait since January of this year. At last, we
are within reach of the goal and the launch of the Digitex Futures Exchange is
just around the corner. In fact, what is even better is that they have set up
an Early
Access Waiting list. There is a link to this in the description
below. Make sure to click on the link and sign up with your e-mail. Finally,
confirm your e-mail and you’re good to go. The top 5,000 people on the list
will get early access to the platform, plus 1,000 free DGTX to play around
with. Sounds good, right? You can help to get to the top of the list by
referring as many people as possible: friends, family and others, which will
not only spread the word about Digitex but also give you a shot at getting
1,000 free tokens. So, why not give it a chance? [CLICK
HERE to sign up]
In the meantime, if you want
to buy DGTX, you can sign up to Mercatox and
buy DGTX tokens there.
That’s all for today, guys!
Keep an open mind, stay safe, and keep on learning!
NJ Bridgewater
Sources
The BitFeed (2018) Digitex
Futures Review, The BitFeed, 21 June 2018. URL:
https://www.thebitfeed.com/digitex-futures-review/ (accessed 13/09/2018)
Nicholas Bridgewater (2017)
What is Bitcoin? Crossing the Bridge, 7 December 2017. URL:
https://nicholasjames19.blogspot.com/2017/12/what-is-bitcoin.html (accessed 13/09/2018)
Nicholas
Bridgewater (2018a) What is Bitcoin? Digitex Futures Exchange Blog, May
14, 2018. URL: https://blog.digitexfutures.com/cryptocurrency/what-is-bitcoin/
(accessed 13/09/2018)
Nicholas Bridgewater (2018b)
Digitex: A commission-free cryptocurrency futures exchange (my review), Crossing
the Bridge, 4 September 2018. URL:
https://nicholasjames19.blogspot.com/2018/09/digitex-commission-free-cryptocurrency.html
(accessed
13/09/2018)
CoinMarketCap (2018a)
Digitex Futures (DGTX), CoinMarketCap.com. URL:
https://coinmarketcap.com/currencies/digitex-futures/ (accessed 13/09/2018
14:39 AST)
CoinMarketCap (2018b) XRP (XRP), CoinMarketCap.com. URL:
https://coinmarketcap.com/currencies/ripple/ (accessed 03/09/2018 10:47 AM AST)
Dave Reiter (2018a) Top Five
Reasons Why You Should Buy DGTX Tokens, Digitex Futures Exchange blog,
Sep 3, 2018. URL:
https://blog.digitexfutures.com/digitex-futures/top-five-reasons-why-you-should-buy-dgtx-tokens/
(accessed 13/09/2018)
Dave
Reiter (2018b) How Commission-Free Markets Increase Liquidity, Digitex
Futures Exchange blog, Sep 12, 2018. URL:
https://blog.digitexfutures.com/digitex-futures/how-commission-free-markets-increase-liquidity/
(accessed 13/09/2018)
Adam Todd (2017a) Digitex:
A commission-free, trustless future exchange for trading digital
currency prices (white paper), December 5th, 2017. URL:
https://www.digitexfutures.com/wp-content/uploads/2017/12/Digitex-Whitepaper-11.0.pdf
(accessed 03/09/2018)
Adam Todd (2018a) DGTX Token
Sale Raises $5.2 Million in 17 Minutes, Digitex Futures Exchange Blog,
January 17, 2018. URL:
https://digitexfutures.com/dgtx-ico-token-sale-sells-out-in-17-minutes/
(accessed 03/09/2018)
Adam Todd (2018b) 5 Million
DGTX Airdrop to the First 5000 on Our Waitlist, Digitex Futures Exchange
blog, August 20, 2018. URL:
https://blog.digitexfutures.com/digitex-futures/5-million-token-airdrop-to-the-first-5000-on-our-waitlist/
(accessed 13/09/2018)
Links for More Information
The
1 Million DGTX Giveaway
BitMEX
sign-up link
Buy DGTX on Mercatox
Buy Bitcoin on Coinbase
Start trading
cryptocurrencies on Binance
Nicholas
Bridgewater (2018) What is Bitcoin? Digitex Futures Exchange Blog, May
14, 2018. URL: https://blog.digitexfutures.com/cryptocurrency/what-is-bitcoin/
Nicholas
Bridgewater (2018) What is Ethereum? Digitex Futures Exchange Blog, May
14, 2018. URL: https://blog.digitexfutures.com/cryptocurrency/what-is-ethereum/
Nicholas
Bridgewater (2018) Where to Buy and Sell Bitcoin. Digitex Futures Exchange
Blog, May 14, 2018. URL: https://blog.digitexfutures.com/cryptocurrency/where-to-buy-and-sell-bitcoin/
Nicholas
Bridgewater (2018) Where to Buy and Sell Ether. Digitex Futures Exchange
Blog, May 14, 2018. URL: https://blog.digitexfutures.com/cryptocurrency/how-to-get-ether-and-where-to-buy-and-sell-it/
[1] See: Nicholas Bridgewater (2018b) Digitex:
A commission-free cryptocurrency futures exchange (my review), Crossing the
Bridge, 4 Septemebr 2018. URL:
https://nicholasjames19.blogspot.com/2018/09/digitex-commission-free-cryptocurrency.html
(accessed 13/09/2018).
[2] See: Nicholas Bridgewater (2017)
What is Bitcoin? Crossing the Bridge, 7 December 2017. URL:
https://nicholasjames19.blogspot.com/2017/12/what-is-bitcoin.html (accessed
13/09/2018).
[3] See: Nicholas Bridgewater
(2018a) What is Bitcoin? Digitex Futures Exchange Blog, May 14, 2018.
URL: https://blog.digitexfutures.com/cryptocurrency/what-is-bitcoin/
(accessed 13/09/2018).
[4] See: XRP (XRP), CoinMarketCap,
2018. URL: https://coinmarketcap.com/currencies/ripple/ (accessed 03/09/2018
10:47 AM AST).
[5] See: The BitFeed (2018) Digitex
Futures Review, The BitFeed, 21 June 2018. URL:
https://www.thebitfeed.com/digitex-futures-review/ (accessed 03/09/2018).
[6] See: Todd (2018).
[7] See: Todd (2018).
[8] See: Adam Todd (2017a) Digitex:
A commission-free, trustless future exchange for trading digital
currency prices (white paper), December 5th, 2017. URL:
https://www.digitexfutures.com/wp-content/uploads/2017/12/Digitex-Whitepaper-11.0.pdf
(accessed 03/09/2018).
[9] See: Todd (2017a), p. 16.
[10] See: Dave Reiter (2018b) How
Commission-Free Markets Increase Liquidity, Digitex Futures Exchange blog,
Sep 12, 2018. URL: https://blog.digitexfutures.com/digitex-futures/how-commission-free-markets-increase-liquidity/
(accessed 13/09/2018).
[11] See: Reiter (2018b).
[12] See:
https://coinmarketcap.com/currencies/digitex-futures/ (accessed 13/09/2018
14:39 AST).
[13] See: Adam Todd (2018b) DGTX Token
Sale Raises $5.2 Million in 17 Minutes, Digitex Futures Exchange Blog,
January 17, 2018. URL:
https://digitexfutures.com/dgtx-ico-token-sale-sells-out-in-17-minutes/
(accessed 03/09/2018).
[14] See: Dave Reiter (2018a) Top Five
Reasons Why You Should Buy DGTX Tokens, Digitex Futures Exchange blog,
Sep 3, 2018. URL:
https://blog.digitexfutures.com/digitex-futures/top-five-reasons-why-you-should-buy-dgtx-tokens/
(accessed 13/09/2018).
[15] See: Adam Todd (2018b) 5 Million
DGTX Airdrop to the First 5000 on Our Waitlist, Digitex Futures Exchange
blog, August 20, 2018. URL:
https://blog.digitexfutures.com/digitex-futures/5-million-token-airdrop-to-the-first-5000-on-our-waitlist/
(accessed 13/09/2018).
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