Digitex dev update #2: Digitex & Blockster Іntegrated Wallet 1

Digitex dev update #2: Digitex & Blockster Іntegrated Wallet

Digitex
Cryptocurrency
• Digitex
July 23, 2021

Digitex and Blockster are sister companies, and their integration provides opportunities to share technologies. Thus, we will show how those synergies are being implemented.

As you know, Blockster is a social media platform for crypto enthusiasts, and an integrated wallet is critical for such a product. It will allow companies, organizations and users the ability to interact with cryptocurrencies on Blockster doing transfers and swaps.

Digitex wallet is fully functional, and recently our developer Nikita Vysotskyi made a full code refactoring.

There will be no fees when transferring between Digitex and Blockster accounts, as well as among users on the same platform. Those interactions will take place off-chain.

In time, we will also be adding a crypto converter, which looks similar to the existing one in Digitex — but improved, with new features for users and behind the scenes. Thus, every basic functionality from a regular exchange is embedded on Blockster.

Blockster Users and the BXR token

As mentioned on Blockster’s whitepaper, the BXR token is the only accepted currency for advertising on the platform. The second release should fully implement that. Moreover, users will be able to tip content creators. 

On the third release, users will be able to pay for services within Blockster, including the NFT marketplace and games. Companies will be disposed to offer their products and services, so BXR will effectively function as a ‘medium of exchange.’

At what stage the wallet development is?

According to Tetyana Shpakovych, Blockster’s Product Manager, the wallet is being designed, and the tech specs are almost in place. 

Aleksei Veledinskii, Digitex Product Owner, explained that the backend would be similar to the current exchange software, but composed of fewer applications. 

An external application will connect users’ Main Account balances with Blockster, while contents from the Trading Account remain separate and visible only on the Digitex Exchange side.

If a Digitex trader wishes to use funds on Blockster, he can easily transfer crypto from his Main Account. Funds will be immediately available, free of charge. The opposite way of transferring cryptos from Blockster to Digitex works the same.

To transfer funds between different users, even from Digitex to Blockster (or vice-versa), the Internal Transfer feature will be triggered.

What are the synergies for Digitex?

Blockster will be a good traffic source for Digitex, and the synergy works both ways. In the future, every Digitex spot market can be integrated into the social network.

We know that there are not many coins currently listed at Digitex, and that’s why we are focused on our trading API refactoring. We will give more details next Friday.  

How does the wallet convert between different cryptos?

Aleksei explains that using a simple “swap” interface, users will be able to literally exchange cryptos. After the quote and slippage are displayed, the user will have some time to decide whether or not to complete the transaction.

Tetyana Shpakovych, Blockster’s Product Manager, mentioned that this should be implemented by the last quarter of 2021. She then added, “Since we are a crypto platform, we must offer this interaction with crypto. This is an essential service that we should be providing to our users. Firstly, the ability to store and transfer digital assets, and secondly, the conversion to different cryptos.”

She explained how users can monitor token prices at Blockwatch, compare data, and analyze charts; thus, it makes sense to transact on the same platform immediately.

There are many synergies between Digitex and Blockster, as we follow one simple rule: products must complement each other, sharing their strengths. Digitex offers wallet and trading technology, which is now being integrated with Blockster.

Bye! See you next Friday with Dev update #3.

July 23, 2021
Digitex
Cryptocurrency

Digitex dev update #2: Digitex & Blockster Іntegrated Wallet

Digitex
Digitex dev update #2: Digitex & Blockster Іntegrated Wallet 2

Digitex and Blockster are sister companies, and their integration provides opportunities to share technologies. Thus, we will show how those synergies are being implemented.

As you know, Blockster is a social media platform for crypto enthusiasts, and an integrated wallet is critical for such a product. It will allow companies, organizations and users the ability to interact with cryptocurrencies on Blockster doing transfers and swaps.

Digitex wallet is fully functional, and recently our developer Nikita Vysotskyi made a full code refactoring.

There will be no fees when transferring between Digitex and Blockster accounts, as well as among users on the same platform. Those interactions will take place off-chain.

In time, we will also be adding a crypto converter, which looks similar to the existing one in Digitex — but improved, with new features for users and behind the scenes. Thus, every basic functionality from a regular exchange is embedded on Blockster.

Blockster Users and the BXR token

As mentioned on Blockster’s whitepaper, the BXR token is the only accepted currency for advertising on the platform. The second release should fully implement that. Moreover, users will be able to tip content creators. 

On the third release, users will be able to pay for services within Blockster, including the NFT marketplace and games. Companies will be disposed to offer their products and services, so BXR will effectively function as a ‘medium of exchange.’

At what stage the wallet development is?

According to Tetyana Shpakovych, Blockster’s Product Manager, the wallet is being designed, and the tech specs are almost in place. 

Aleksei Veledinskii, Digitex Product Owner, explained that the backend would be similar to the current exchange software, but composed of fewer applications. 

An external application will connect users’ Main Account balances with Blockster, while contents from the Trading Account remain separate and visible only on the Digitex Exchange side.

If a Digitex trader wishes to use funds on Blockster, he can easily transfer crypto from his Main Account. Funds will be immediately available, free of charge. The opposite way of transferring cryptos from Blockster to Digitex works the same.

To transfer funds between different users, even from Digitex to Blockster (or vice-versa), the Internal Transfer feature will be triggered.

What are the synergies for Digitex?

Blockster will be a good traffic source for Digitex, and the synergy works both ways. In the future, every Digitex spot market can be integrated into the social network.

We know that there are not many coins currently listed at Digitex, and that’s why we are focused on our trading API refactoring. We will give more details next Friday.  

How does the wallet convert between different cryptos?

Aleksei explains that using a simple “swap” interface, users will be able to literally exchange cryptos. After the quote and slippage are displayed, the user will have some time to decide whether or not to complete the transaction.

Tetyana Shpakovych, Blockster’s Product Manager, mentioned that this should be implemented by the last quarter of 2021. She then added, “Since we are a crypto platform, we must offer this interaction with crypto. This is an essential service that we should be providing to our users. Firstly, the ability to store and transfer digital assets, and secondly, the conversion to different cryptos.”

She explained how users can monitor token prices at Blockwatch, compare data, and analyze charts; thus, it makes sense to transact on the same platform immediately.

There are many synergies between Digitex and Blockster, as we follow one simple rule: products must complement each other, sharing their strengths. Digitex offers wallet and trading technology, which is now being integrated with Blockster.

Bye! See you next Friday with Dev update #3.

Latest News

Buy BXR Directly on Blockster for $1: The FAQ 3

Buy BXR Directly on Blockster for $1: The FAQ

Digitex
Cryptocurrency
• Digitex
July 21, 2021

We have some excellent news out there: we are reducing the $BXR price to $1 for a limited time! 

$1 was the original token sale offering for BXR, and that’s the price at which the bulk of tokens were sold. Therefore we’re adapting to the market’s current valuation of Blockster (BXR) at this early stage and adjusting the price accordingly. 

The offering will last for two months, ending on September 21st, 2021

Token Sale Moves to Blockster.com

The $BXR token sale has moved to Blockster.com – which means that, during this Pre-Sale phase, you can buy BXR directly on our platform; it’s an instant and trustless transaction. Visit our website to take part in the offer!

In the meantime, the $BXR token sale on Blockfunder is finished. Please note that currently, there are no active sales held on Blockfunder, but we do plan to introduce those again shortly. 

Token Sale: Frequently Asked Questions

We’ve also compiled a FAQ on the $BXR token sale to help you out – please see below.

Q: I want to take part in the offer! Which payment methods can I use?

A: For the moment, we accept only ETH. 

Q: How much BXR is available for sale at this price?

A: The total is 2 million BXR. However, we’ve already sold $300k+ during the BXR pre-sale, which leaves us with 1.7 million. The tokens you buy will be sent to your personal wallet right away without any vesting period.

Q: Which wallets work with BXR?

A: Any Ethereum wallet capable of adding custom ERC-20 tokens, including Metamask, MEW My Ether Wallet, Trust Wallet, and some others. Those links have step-by-step instructions, but they’re all pretty standard.

Q: Will BXR be listed on other IEO platforms? 

A: Yes, after the Pre-Sale phase is complete, the token will be listed at a higher price on an established IEO platform (TBA).

Q: I bought some BXR on Blockfunder earlier. When will I receive them?

A: If you took part in the sale between Phases 1 through 6, your tokens are already available in your Digitex Wallet. There will be no vesting period, which means you will have them available in your wallet right away. Bonus: we’ve deposited BXR at $1 value in your wallet, according to how much you had bought – so many of you will be pleased to discover that your BXR value has doubled.

Q: I already bought some BXR. Can I buy more?

A: Sure! You are welcome to buy more BXR directly on Blockster.com.

Q: When will I be able to trade my BXR?

A: BXR will be listed on major cryptocurrency exchanges when the main token sale is over. We’ve already made agreements with eight major exchanges, with many more coming soon. You can anticipate BXR listings in Q4 2021.

Q: When will the waitlist friend referral campaign end?

A: We have already started onboarding users from our 300k+ waitlist onto the platform. This week alone, the next 50,000 users will join the platform, and we will add more and more users until we have successfully let everyone on board. We plan to open the platform to the public by August, given it can maintain good performance as we gradually scale up our user base.

Q: When will I receive the BXR I earned through the waitlist friend referral campaign?

A: You will receive your BXR tokens after the end of the Main Token Sale. We will contact you to confirm your Blockster account and BXR earnings and then send them to your desired wallet address.

Have more questions? Ask away in Blockster Telegram Group!

And don’t forget to buy BXR at $1 – now directly on Blockster

July 21, 2021
Digitex
Cryptocurrency

Buy BXR Directly on Blockster for $1: The FAQ

Digitex
Buy BXR Directly on Blockster for $1: The FAQ 4

We have some excellent news out there: we are reducing the $BXR price to $1 for a limited time! 

$1 was the original token sale offering for BXR, and that’s the price at which the bulk of tokens were sold. Therefore we’re adapting to the market’s current valuation of Blockster (BXR) at this early stage and adjusting the price accordingly. 

The offering will last for two months, ending on September 21st, 2021

Token Sale Moves to Blockster.com

The $BXR token sale has moved to Blockster.com – which means that, during this Pre-Sale phase, you can buy BXR directly on our platform; it’s an instant and trustless transaction. Visit our website to take part in the offer!

In the meantime, the $BXR token sale on Blockfunder is finished. Please note that currently, there are no active sales held on Blockfunder, but we do plan to introduce those again shortly. 

Token Sale: Frequently Asked Questions

We’ve also compiled a FAQ on the $BXR token sale to help you out – please see below.

Q: I want to take part in the offer! Which payment methods can I use?

A: For the moment, we accept only ETH. 

Q: How much BXR is available for sale at this price?

A: The total is 2 million BXR. However, we’ve already sold $300k+ during the BXR pre-sale, which leaves us with 1.7 million. The tokens you buy will be sent to your personal wallet right away without any vesting period.

Q: Which wallets work with BXR?

A: Any Ethereum wallet capable of adding custom ERC-20 tokens, including Metamask, MEW My Ether Wallet, Trust Wallet, and some others. Those links have step-by-step instructions, but they’re all pretty standard.

Q: Will BXR be listed on other IEO platforms? 

A: Yes, after the Pre-Sale phase is complete, the token will be listed at a higher price on an established IEO platform (TBA).

Q: I bought some BXR on Blockfunder earlier. When will I receive them?

A: If you took part in the sale between Phases 1 through 6, your tokens are already available in your Digitex Wallet. There will be no vesting period, which means you will have them available in your wallet right away. Bonus: we’ve deposited BXR at $1 value in your wallet, according to how much you had bought – so many of you will be pleased to discover that your BXR value has doubled.

Q: I already bought some BXR. Can I buy more?

A: Sure! You are welcome to buy more BXR directly on Blockster.com.

Q: When will I be able to trade my BXR?

A: BXR will be listed on major cryptocurrency exchanges when the main token sale is over. We’ve already made agreements with eight major exchanges, with many more coming soon. You can anticipate BXR listings in Q4 2021.

Q: When will the waitlist friend referral campaign end?

A: We have already started onboarding users from our 300k+ waitlist onto the platform. This week alone, the next 50,000 users will join the platform, and we will add more and more users until we have successfully let everyone on board. We plan to open the platform to the public by August, given it can maintain good performance as we gradually scale up our user base.

Q: When will I receive the BXR I earned through the waitlist friend referral campaign?

A: You will receive your BXR tokens after the end of the Main Token Sale. We will contact you to confirm your Blockster account and BXR earnings and then send them to your desired wallet address.

Have more questions? Ask away in Blockster Telegram Group!

And don’t forget to buy BXR at $1 – now directly on Blockster

Latest News

Sneak Peek of the Blockster Platform 5

Sneak Peek of the Blockster Platform

Cryptocurrency
• Digitex
July 1, 2021

We are delighted to announce that Blockster Social Network is fully functional. After months of exhaustive testing from experienced guests and influencers, we are ready to onboard first few hundred selected users that took part in the BXR token sale initial phases. Onboarding will start this week.

What differentiates Blockster from Twitter, Medium, or Reddit?

Blockster’s mission is to connect users and businesses in the exciting world of crypto. As the one-stop-shop social network, everyone – from startups and professional service providers to authors, influencers, investors, and thought leaders – can interact with each other and discover the digital asset market together on a single platform.

As you can see, the platform opens with a Newsfeed, and we’ve asked for our moderators to automatically suggest some of the most established experts and writers active on Blockster. You can easily follow, as well as comment, like, share, and even post your own thoughts and links.

No censorship, no hate speech, no discussions irrelevant for the digital assets and blockchain industry. Why? Because we’ve hired experienced and professional moderators, who will also be responsible for making sure that our ‘groups,’ ‘pages,’ and ‘Blockster blog’ follow a safe and stimulating environment for healthy discussions.

As you can see on the right side of the Newsfeed, one can find their connections, send private messages, or even create group chats.

You can follow users by visiting their profiles and clicking ‘Follow’ or searching their names using the search bar at the top left. By clicking on ‘My network,’ you can scroll through your contacts and see who is following you. 

That’s not all! On ‘Blockdesk,’ we have over 30 established crypto writers constantly populating the blog with investing tips, fresh market analysis, thoughts on the most recent events, and much more. Unlike our competitors, there’s no Paywall, and everyone is allowed to interact directly with those authors using the comment section.

Is that all? What else to expect from Blockster all-in-one social media?

You’ll also find ‘Groups,’ where users can freely discuss their favorite topics instead of having to endlessly scroll through a timeline.

Lastly, on Blockacademy, you’ll find over 100 educational articles recently written by industry experts, divided between topics and areas of interest.

And this is only included in the first, initial version of Blockster. In the next few months, we will roll out the social network’s second release that features fully functional iOS and Android apps, a robust advertising platform, an integrated wallet to store all your crypto, P2P transactions, and all of the BXR functionality.

Furthermore, those wanting to check out crypto market cap rankings, price changes, and supply no longer need to exit their favorite social media, as Blockster’s second release has an integrated ‘Blockwatch’.

Take a look at the Blockster whitepaper to learn more about all the features crypto’s all-in-one social network offers.

When can I start using it?

We know how important it is for you to start using our platform and be mesmerized not by the functionalities but by the content and interactions. That’s why we’ve decided to do a soft launch first and gradually onboard users from our waitlist to continually test and improve the platform’s performance.

We will continue to onboard users gradually until the platform can successfully withstand hundreds of thousands of users at any time. So if you’re currently waitlisted, we ask for your patience and we’ll be letting you in soon. First come first serve policy.

What about the BXR token offer?

The fourth phase is taking place at $1.75 per token, but those prices will increase as we approach the sixth phase at $2.25. Therefore, those waiting for the Blockster Social Network launch will end up paying a lot higher, or even worse, come out empty-handed. So if you haven’t yet bought BXR, now is the perfect time to do so.

You can take part by referring the IEO to your friends and get 10% from their $BXR purchases!

Sign up right now at Blockfunder, our token launch platform, and create your unique referral link.

July 1, 2021
Cryptocurrency

Sneak Peek of the Blockster Platform

Digitex
Sneak Peek of the Blockster Platform 6

We are delighted to announce that Blockster Social Network is fully functional. After months of exhaustive testing from experienced guests and influencers, we are ready to onboard first few hundred selected users that took part in the BXR token sale initial phases. Onboarding will start this week.

What differentiates Blockster from Twitter, Medium, or Reddit?

Blockster’s mission is to connect users and businesses in the exciting world of crypto. As the one-stop-shop social network, everyone – from startups and professional service providers to authors, influencers, investors, and thought leaders – can interact with each other and discover the digital asset market together on a single platform.

As you can see, the platform opens with a Newsfeed, and we’ve asked for our moderators to automatically suggest some of the most established experts and writers active on Blockster. You can easily follow, as well as comment, like, share, and even post your own thoughts and links.

No censorship, no hate speech, no discussions irrelevant for the digital assets and blockchain industry. Why? Because we’ve hired experienced and professional moderators, who will also be responsible for making sure that our ‘groups,’ ‘pages,’ and ‘Blockster blog’ follow a safe and stimulating environment for healthy discussions.

As you can see on the right side of the Newsfeed, one can find their connections, send private messages, or even create group chats.

You can follow users by visiting their profiles and clicking ‘Follow’ or searching their names using the search bar at the top left. By clicking on ‘My network,’ you can scroll through your contacts and see who is following you. 

That’s not all! On ‘Blockdesk,’ we have over 30 established crypto writers constantly populating the blog with investing tips, fresh market analysis, thoughts on the most recent events, and much more. Unlike our competitors, there’s no Paywall, and everyone is allowed to interact directly with those authors using the comment section.

Is that all? What else to expect from Blockster all-in-one social media?

You’ll also find ‘Groups,’ where users can freely discuss their favorite topics instead of having to endlessly scroll through a timeline.

Lastly, on Blockacademy, you’ll find over 100 educational articles recently written by industry experts, divided between topics and areas of interest.

And this is only included in the first, initial version of Blockster. In the next few months, we will roll out the social network’s second release that features fully functional iOS and Android apps, a robust advertising platform, an integrated wallet to store all your crypto, P2P transactions, and all of the BXR functionality.

Furthermore, those wanting to check out crypto market cap rankings, price changes, and supply no longer need to exit their favorite social media, as Blockster’s second release has an integrated ‘Blockwatch’.

Take a look at the Blockster whitepaper to learn more about all the features crypto’s all-in-one social network offers.

When can I start using it?

We know how important it is for you to start using our platform and be mesmerized not by the functionalities but by the content and interactions. That’s why we’ve decided to do a soft launch first and gradually onboard users from our waitlist to continually test and improve the platform’s performance.

We will continue to onboard users gradually until the platform can successfully withstand hundreds of thousands of users at any time. So if you’re currently waitlisted, we ask for your patience and we’ll be letting you in soon. First come first serve policy.

What about the BXR token offer?

The fourth phase is taking place at $1.75 per token, but those prices will increase as we approach the sixth phase at $2.25. Therefore, those waiting for the Blockster Social Network launch will end up paying a lot higher, or even worse, come out empty-handed. So if you haven’t yet bought BXR, now is the perfect time to do so.

You can take part by referring the IEO to your friends and get 10% from their $BXR purchases!

Sign up right now at Blockfunder, our token launch platform, and create your unique referral link.

Latest News

Digitex Market Update: China bans OTC and miners, U.S. pressures for regulation 7

Digitex Market Update: China bans OTC and miners, U.S. pressures for regulation

Crypto Industry
Cryptocurrency
• PlebBTC Stacker
June 23, 2021

Although the Chinese mining crackdown started almost two months ago, the government recently decided to extend the ban to the entire country. Earlier in June, Asian crypto derivatives exchanges were also banned from China’s internet search engines and social networks. Some of those were ordered to block Chinese clients or limit leverage to 5x.

The 35% Bitcoin hash rate cut and the potential impact of stricter access to derivatives markets were enough to obliterate $320 billion worth of total market capitalization to $1.32 trillion on June 23, a 20% crash. Altcoins dropped the most, as some top100 went down 35% or more in the week.

Digitex Market Update: China bans OTC and miners, U.S. pressures for regulation 8

Source: Messari & Digitex

Negative highlights include Kusama (KSM) -44%, NEM (XEM) -38%, THORChain (RUNE) -37%), Bitcoin Gold (BTG) -(37%) and Qtum (QTUM) -35%. In fact, none of the top100 were able to close positively.

What happened besides the China mining and crypto derivatives ban?

If you think it through, ~60% of the hashrate coming from China has always been a valid criticism for Bitcoin. Even though those mining pools are not necessarily formed by a few entities, as everyone is free to change or even work solo, there is always the risk of an internet blockage.

Moving an industrial-scale mining operation to another country ain’t as easy as it seems. Besides physical transport, there are potential import taxes to be paid, energy transformers that will unlikely meet the standards of other countries, personnel, and, more importantly, financing.

While accessing stablecoins markets does not depend on governmental institutions, cashing in and out of fiat in China largely depends on OTC markets. After exchanges were banned in September 2017, the fiat gateway relies mainly on those intermediaries.

However, the Chinese government recently intensified the crackdown. The People Bank of China (PBoC) told banks and financial intermediaries such as AliPay and WePay to shut off any client with crypto mining or trading activities.

With an impending mid-term inability to convert from crypto to local fiat currency and in desperate need to raise cash to reestablish their operations elsewhere, both miners and OTC desks were forced to sell.

Was there anything else besides China?

Grayscale GBTC Trust fund, listed on U.S. markets, holds over $20 billion worth of Bitcoin, faced a 30,000 BTC unlock in a single week. Institutional clients who can buy GBTC shares directly from Grayscale face a 6-month lock-up window, so they cannot sell them on secondary markets immediately. 

Although there’s no guarantee that those clients will dump their stake, it certainly adds more pressure to a market that was already beaten up. To make things even worse, Jim Cramer, CNBC’s “Mad Money” TV Host, said on June 22 that he had “sold almost all of his Bitcoin.” Cramer expressed concerns about the Chinese crackdown and ransomware attacks in the U.S.

Was $28,000 the ultimate bottom?

There’s really no way to know because it is impossible to estimate how long it will take for miners to settle and reestablish Bitcoin’s hash rate, let alone the impact of the Chinese crackdown on OTC. 

Undoubtedly, the demand from the population for digital assets, including Bitcoin and stablecoins, was not affected as China is underway to implement a digital Yuan. This movement will likely lead to even stricter rules, increasing the demand for uncensorable money.

We’ve seen similar effects in other countries, with Nigeria’s most recent case causing a spike in peer-to-peer (p2p) trading platforms’ volumes. Initially, there’s a substantial local price premium versus international markets, but it tends to reduce as intermediaries find new ways to transact using fiat money.

Can governments ban crypto?

No. There is no way governments can ban someone from using softwares, especially if it doesn’t require an internet connection. Blockstream, the company behind Blockstream.info blockchain explorer and Green Wallet, offers free satellite data broadcasting Bitcoin’s blockchain 24/7.

A group of Brazilians have recently sent a Bitcoin transaction using amateur radio and literally used the moon (yes, Earth’s satellite) as an intermediary.

Multiple services offer SMS (standard text message) commands to propagate Bitcoin transactions. Similar tools have been developed for Telegram and Whatsapp chat services.

When China banned crypto exchanges in 2017, those companies moved their servers to other regions and turned to stablecoins, avoiding fiat currency transactions.

Will the U.S. replicate China’s recent anti-crypto moves?

Coinbase and Kraken are fully regulated and licensed companies in the U.S., offering digital assets trading, custody, and payment processing, including debit cards. Kraken has a full banking license from Wyoming State.

The U.S. Comptroller of the Currency (OCC) clarified in May 2020 that banks could custody cryptocurrency assets and engage in stablecoin activity.

According to CNBC, Miami mayor Francis Suarez is offering low energy prices for miners and clean nuclear power. Suarez has been a crypto believer for years, and the city is currently proposing to accept crypto payments for taxes, fees, and services.

A severe turnaround at this point seems extremely unlikely. However, a potential stronger regulation could certainly delay institutional investors’ adoption, although not effectively ban crypto transmission and activity outside of regulated exchanges.

Do I have any risk by trading at Digitex?

Digitex Ltd is a zero-fee cryptocurrency spot and futures exchange that uses its native DGTX token to enable liquid commission-free markets. We are an established company, registered in St. Vincent, with nearly two years of uninterrupted activity.

We’re fully compliant by proactively banning U.S. clients from participating in our derivatives markets, as well on the IEO offers taking place on Blockfunder.

Suppose China, or any other region, contacts our offices requesting to block IPs coming from specific areas or their citizens to take part in leverage trading. In that case, those requests will be reviewed, and our legal team will act following the legislation.

Our main goal is to protect clients’ assets, maintaining a secure and reliable trading engine.

What is the recommended strategy here?

Personally, I was not expecting so much heat from China, therefore my long positions have increased at $49k and more recently at $35k. Sure, it must be good to ‘catch’ the exact bottom, but in 6 to 9 months’ time, will it make a difference?

My point is: don’t wait for the perfect entry point, but at the same time don’t over-leverage your position. Make sure there’s enough margin to stay liquid if Bitcoin drops to $20k.

We hope you enjoyed our weekly review. Make sure to follow us on Instagram and join our Telegram channel to get exclusive news and information.

Written by: PlebBTC Stacker (I’m writing for Blockster), covering crypto markets since 2017. Retired derivatives trader and full-time pleb. After two decades of working on traditional finance, I started by doing crypto p2p trading and finally understood the true value of scarcity and censorship resistance. Be humble, stack sats!

 

June 23, 2021
Crypto Industry
Cryptocurrency

Digitex Market Update: China bans OTC and miners, U.S. pressures for regulation

PlebBTC Stacker
Digitex Market Update: China bans OTC and miners, U.S. pressures for regulation 9

Although the Chinese mining crackdown started almost two months ago, the government recently decided to extend the ban to the entire country. Earlier in June, Asian crypto derivatives exchanges were also banned from China’s internet search engines and social networks. Some of those were ordered to block Chinese clients or limit leverage to 5x.

The 35% Bitcoin hash rate cut and the potential impact of stricter access to derivatives markets were enough to obliterate $320 billion worth of total market capitalization to $1.32 trillion on June 23, a 20% crash. Altcoins dropped the most, as some top100 went down 35% or more in the week.

Digitex Market Update: China bans OTC and miners, U.S. pressures for regulation 10

Source: Messari & Digitex

Negative highlights include Kusama (KSM) -44%, NEM (XEM) -38%, THORChain (RUNE) -37%), Bitcoin Gold (BTG) -(37%) and Qtum (QTUM) -35%. In fact, none of the top100 were able to close positively.

What happened besides the China mining and crypto derivatives ban?

If you think it through, ~60% of the hashrate coming from China has always been a valid criticism for Bitcoin. Even though those mining pools are not necessarily formed by a few entities, as everyone is free to change or even work solo, there is always the risk of an internet blockage.

Moving an industrial-scale mining operation to another country ain’t as easy as it seems. Besides physical transport, there are potential import taxes to be paid, energy transformers that will unlikely meet the standards of other countries, personnel, and, more importantly, financing.

While accessing stablecoins markets does not depend on governmental institutions, cashing in and out of fiat in China largely depends on OTC markets. After exchanges were banned in September 2017, the fiat gateway relies mainly on those intermediaries.

However, the Chinese government recently intensified the crackdown. The People Bank of China (PBoC) told banks and financial intermediaries such as AliPay and WePay to shut off any client with crypto mining or trading activities.

With an impending mid-term inability to convert from crypto to local fiat currency and in desperate need to raise cash to reestablish their operations elsewhere, both miners and OTC desks were forced to sell.

Was there anything else besides China?

Grayscale GBTC Trust fund, listed on U.S. markets, holds over $20 billion worth of Bitcoin, faced a 30,000 BTC unlock in a single week. Institutional clients who can buy GBTC shares directly from Grayscale face a 6-month lock-up window, so they cannot sell them on secondary markets immediately. 

Although there’s no guarantee that those clients will dump their stake, it certainly adds more pressure to a market that was already beaten up. To make things even worse, Jim Cramer, CNBC’s “Mad Money” TV Host, said on June 22 that he had “sold almost all of his Bitcoin.” Cramer expressed concerns about the Chinese crackdown and ransomware attacks in the U.S.

Was $28,000 the ultimate bottom?

There’s really no way to know because it is impossible to estimate how long it will take for miners to settle and reestablish Bitcoin’s hash rate, let alone the impact of the Chinese crackdown on OTC. 

Undoubtedly, the demand from the population for digital assets, including Bitcoin and stablecoins, was not affected as China is underway to implement a digital Yuan. This movement will likely lead to even stricter rules, increasing the demand for uncensorable money.

We’ve seen similar effects in other countries, with Nigeria’s most recent case causing a spike in peer-to-peer (p2p) trading platforms’ volumes. Initially, there’s a substantial local price premium versus international markets, but it tends to reduce as intermediaries find new ways to transact using fiat money.

Can governments ban crypto?

No. There is no way governments can ban someone from using softwares, especially if it doesn’t require an internet connection. Blockstream, the company behind Blockstream.info blockchain explorer and Green Wallet, offers free satellite data broadcasting Bitcoin’s blockchain 24/7.

A group of Brazilians have recently sent a Bitcoin transaction using amateur radio and literally used the moon (yes, Earth’s satellite) as an intermediary.

Multiple services offer SMS (standard text message) commands to propagate Bitcoin transactions. Similar tools have been developed for Telegram and Whatsapp chat services.

When China banned crypto exchanges in 2017, those companies moved their servers to other regions and turned to stablecoins, avoiding fiat currency transactions.

Will the U.S. replicate China’s recent anti-crypto moves?

Coinbase and Kraken are fully regulated and licensed companies in the U.S., offering digital assets trading, custody, and payment processing, including debit cards. Kraken has a full banking license from Wyoming State.

The U.S. Comptroller of the Currency (OCC) clarified in May 2020 that banks could custody cryptocurrency assets and engage in stablecoin activity.

According to CNBC, Miami mayor Francis Suarez is offering low energy prices for miners and clean nuclear power. Suarez has been a crypto believer for years, and the city is currently proposing to accept crypto payments for taxes, fees, and services.

A severe turnaround at this point seems extremely unlikely. However, a potential stronger regulation could certainly delay institutional investors’ adoption, although not effectively ban crypto transmission and activity outside of regulated exchanges.

Do I have any risk by trading at Digitex?

Digitex Ltd is a zero-fee cryptocurrency spot and futures exchange that uses its native DGTX token to enable liquid commission-free markets. We are an established company, registered in St. Vincent, with nearly two years of uninterrupted activity.

We’re fully compliant by proactively banning U.S. clients from participating in our derivatives markets, as well on the IEO offers taking place on Blockfunder.

Suppose China, or any other region, contacts our offices requesting to block IPs coming from specific areas or their citizens to take part in leverage trading. In that case, those requests will be reviewed, and our legal team will act following the legislation.

Our main goal is to protect clients’ assets, maintaining a secure and reliable trading engine.

What is the recommended strategy here?

Personally, I was not expecting so much heat from China, therefore my long positions have increased at $49k and more recently at $35k. Sure, it must be good to ‘catch’ the exact bottom, but in 6 to 9 months’ time, will it make a difference?

My point is: don’t wait for the perfect entry point, but at the same time don’t over-leverage your position. Make sure there’s enough margin to stay liquid if Bitcoin drops to $20k.

We hope you enjoyed our weekly review. Make sure to follow us on Instagram and join our Telegram channel to get exclusive news and information.

Written by: PlebBTC Stacker (I’m writing for Blockster), covering crypto markets since 2017. Retired derivatives trader and full-time pleb. After two decades of working on traditional finance, I started by doing crypto p2p trading and finally understood the true value of scarcity and censorship resistance. Be humble, stack sats!

 

Latest News

trading

The Pros and Cons of Crypto Investing and Trading

Trading
Cryptocurrency
• Digitex
May 5, 2021

Wondering how to capitalize on the crypto bull market’s gains?

To achieve that, you can choose between two main methods: to invest in digital assets for the long run or day trade crypto to generate short-term profits.

In this article, we will explain the main differences between the two approaches while introducing the pros and cons of each.

What Are the Pros and Cons of Long-Term Crypto Investments?

One of the easiest ways to gain exposure to the crypto market is by investing in digital assets for the long term.

With this strategy, you buy and hold cryptocurrencies for at least several months (or even multiple years) and later sell them for a profit after their prices have increased to a satisfactory level.

While the investment approach doesn’t take short-term price movements into account, it requires investors to leverage fundamental analysis, in which they carefully research digital assets to select the most promising ones.

Since crypto investing is a long-term strategy, it comes with only a few monthly or yearly trades, which can save you time as well as provide tax benefits in some jurisdictions. For the same reason, less paperwork is required to report investment-related income.

Also, it’s easier for beginners to get started as they don’t have to learn how to use various technical analysis tools and implement them into their crypto trading strategies.

Moreover, investment strategies like dollar-cost averaging (DCA) – in which one invests a fixed amount of funds in an asset at regular intervals (e.g., $100 on the first day of each month throughout a year) – can remove the extra legwork needed for attempting to time the market.

On the flip side, investing for the long-term in crypto is not suitable for making regular or a full-time income.

While crypto investment is usually considered safer than day trading, you face higher risks with this strategy if you fail to research projects properly (or if you don’t do any research).

Furthermore, while you can make a decent income in the long run with this strategy, crypto investors usually miss out on multiple short-term profit-making opportunities.

What Are the Pros and Cons of Day Trading Crypto?

Unlike investing, day trading crypto involves entering and exiting positions more frequently with the goal to generate profits on short-term price movements.

For that reason, this approach requires increased time to monitor markets, especially if you are using a high-frequency trading strategy like scalping.

On the other hand, unlike with investing, you can leverage day trading to capitalize on short-term opportunities to make profits.

And, if you are a successful trader, you can even use this strategy to generate regular, potentially full-time, revenue.

Instead of fundamental analysis, traders incorporate multiple technical analysis tools and indicators into their crypto trading strategies to study trends as well as identify and interpret signals.

For that reason, mastering day trading is often a more challenging task than learning how to invest in cryptocurrency in the long run.

Unlike investors who can just wait out short periods of volatility, traders are more affected by emotions like fear, greed, and hope, which often influence their decisions negatively.

Day trading usually involves more risks than long-term holding, so it’s crucial for traders to learn how to manage and minimize them to maintain profitable trades.

That said, with effective risk management and the ability to keep your emotions under control, day trading crypto can become a lucrative strategy to capitalize on the rising digital asset market.

On top of that, day traders can amplify their gains from successful trades by trading Bitcoin with leverage.

Invest and Trade Crypto on Digitex

Both investing and day trading are viable approaches to gain exposure to the fast-growing digital asset market.

While investment focuses on generating long-term revenue, day trading aims to capture profits from numerous short-term trades.

In addition to its Bitcoin futures exchange, the next-generation crypto trading platform Digitex has recently opened access for its users to spot markets as well.

As a result, you can now leverage both investing and day trading strategies to generate potential profits on cryptocurrencies on Digitex.

Oh, and we almost forgot to mention: since Digitex completely eliminates trading fees, you can keep 100% of your profits on the platform.

Sounds fantastic, right?

Open an account at Digitex now!

May 5, 2021
Trading
Cryptocurrency

The Pros and Cons of Crypto Investing and Trading

Digitex
trading

Wondering how to capitalize on the crypto bull market’s gains?

To achieve that, you can choose between two main methods: to invest in digital assets for the long run or day trade crypto to generate short-term profits.

In this article, we will explain the main differences between the two approaches while introducing the pros and cons of each.

What Are the Pros and Cons of Long-Term Crypto Investments?

One of the easiest ways to gain exposure to the crypto market is by investing in digital assets for the long term.

With this strategy, you buy and hold cryptocurrencies for at least several months (or even multiple years) and later sell them for a profit after their prices have increased to a satisfactory level.

While the investment approach doesn’t take short-term price movements into account, it requires investors to leverage fundamental analysis, in which they carefully research digital assets to select the most promising ones.

Since crypto investing is a long-term strategy, it comes with only a few monthly or yearly trades, which can save you time as well as provide tax benefits in some jurisdictions. For the same reason, less paperwork is required to report investment-related income.

Also, it’s easier for beginners to get started as they don’t have to learn how to use various technical analysis tools and implement them into their crypto trading strategies.

Moreover, investment strategies like dollar-cost averaging (DCA) – in which one invests a fixed amount of funds in an asset at regular intervals (e.g., $100 on the first day of each month throughout a year) – can remove the extra legwork needed for attempting to time the market.

On the flip side, investing for the long-term in crypto is not suitable for making regular or a full-time income.

While crypto investment is usually considered safer than day trading, you face higher risks with this strategy if you fail to research projects properly (or if you don’t do any research).

Furthermore, while you can make a decent income in the long run with this strategy, crypto investors usually miss out on multiple short-term profit-making opportunities.

What Are the Pros and Cons of Day Trading Crypto?

Unlike investing, day trading crypto involves entering and exiting positions more frequently with the goal to generate profits on short-term price movements.

For that reason, this approach requires increased time to monitor markets, especially if you are using a high-frequency trading strategy like scalping.

On the other hand, unlike with investing, you can leverage day trading to capitalize on short-term opportunities to make profits.

And, if you are a successful trader, you can even use this strategy to generate regular, potentially full-time, revenue.

Instead of fundamental analysis, traders incorporate multiple technical analysis tools and indicators into their crypto trading strategies to study trends as well as identify and interpret signals.

For that reason, mastering day trading is often a more challenging task than learning how to invest in cryptocurrency in the long run.

Unlike investors who can just wait out short periods of volatility, traders are more affected by emotions like fear, greed, and hope, which often influence their decisions negatively.

Day trading usually involves more risks than long-term holding, so it’s crucial for traders to learn how to manage and minimize them to maintain profitable trades.

That said, with effective risk management and the ability to keep your emotions under control, day trading crypto can become a lucrative strategy to capitalize on the rising digital asset market.

On top of that, day traders can amplify their gains from successful trades by trading Bitcoin with leverage.

Invest and Trade Crypto on Digitex

Both investing and day trading are viable approaches to gain exposure to the fast-growing digital asset market.

While investment focuses on generating long-term revenue, day trading aims to capture profits from numerous short-term trades.

In addition to its Bitcoin futures exchange, the next-generation crypto trading platform Digitex has recently opened access for its users to spot markets as well.

As a result, you can now leverage both investing and day trading strategies to generate potential profits on cryptocurrencies on Digitex.

Oh, and we almost forgot to mention: since Digitex completely eliminates trading fees, you can keep 100% of your profits on the platform.

Sounds fantastic, right?

Open an account at Digitex now!

Latest News

Crypto

What Cryptocurrencies Are Available to Buy and Sell on Digitex?

Digitex
Cryptocurrency
• Digitex
April 26, 2021

Since our mainnet launch, Digitex has operated as a Bitcoin derivatives exchange allowing users to buy and sell cryptocurrency futures contracts without any trading fees.

However, as part of Digitex’s evolution, we rolled out our spot exchange last week to provide an optimized trading experience to all traders on the platform.

As a result, you can now enjoy a zero-fee crypto trading experience for digital asset pairs on both the spot and derivatives markets.

In this upgrade, we have also expanded our list with new trading pairs, which means you can now gain exposure to more digital assets on Digitex.

We have collected all the cryptocurrencies you can trade on the next-generation Digitex trading platform in this article. Check them out below.

Bitcoin (BTC)

Rank: 1st

Market capitalization: $1.059 trillion

YTD ROI: +96.45%

Launched in 2009 by the anonymous Satoshi Nakamoto, Bitcoin is the first cryptocurrency ever created and also the largest by market cap.

Created in the aftermath of the 2007-2008 financial crisis, Bitcoin features a peer-to-peer (P2P) electronic cash system that allows users to hold, receive, and send cryptocurrency without any intermediaries, according to the original BTC whitepaper.

That said, due to its limited supply and the deflationary mechanism that cuts the newly mined BTC supply in half every four years, Bitcoin also serves as an excellent store of value.

On Digitex, you can gain exposure to both spot market and Bitcoin derivatives trading pairs:

  • DGTX/BTC (spot)
  • ETH/BTC (spot)
  • BTC/USDC (spot)
  • BTC/USD (futures)

Ethereum (ETH)

Rank: 2nd

Market capitalization: $257 billion

YTD ROI: +201.87%

Launched in July 2015, Ethereum has introduced smart contracts – self-executing digital agreements between two or more parties – to the digital asset industry.

As a result, developers can program, deploy, and run their own decentralized applications (DApps) as well as create tokens and launch Initial Coin Offerings (ICOs) on top of the Ethereum blockchain.

For these reasons, Ethereum has been among the most active blockchain networks on the market that facilitated the ICO, decentralized finance (DeFi), and non-fungible token (NFT) booms.

You can trade ETH via the following trading pairs on Digitex:

  • DGTX/ETH (spot)
  • ETH/BTC (spot)
  • ETH/USDC (spot)
  • ETH/USD (futures)

USDC

Rank: 15th

Market capitalization: $11.3 billion

USDC is a stablecoin with a 1:1 peg to the USD’s value.

For that reason, while non-stablecoin cryptocurrencies often experience high levels of volatility with extreme price swings, USDC is able to maintain a relatively stable value.

This allows USDC to retain most of the benefits of cryptocurrencies – such as P2P transfers, cost-efficient fees, and fast transactions – while offering users the ability to trade digital asset pairs without exchanging their funds into fiat currencies.

Launched as the project of the global technology firm Circle, USDC quickly became the second-largest stablecoin by market capitalization just after Tether (USDT).

Digitex offers users the following USDC-based trading pairs on its platform:

  • DGTX/USDC (spot)
  • BTC/USDC (spot)
  • ETH/USDC (spot)

DGTX

Rank: 883rd

Market capitalization: $16.4 million

YTD ROI: +63.28%

DGTX is the native exchange token of the revolutionary crypto trading platform Digitex.

Since raising $5.2 million in 17 minutes during the Digitex token sale in January 2018, DGTX has played a vital role in our ecosystem.

DGTX is the cryptocurrency that allows our users to benefit from zero-fee crypto trading while powering the Digitex liquidity mining and DGTX rewards programs, which both offer traders new ways to earn crypto.

Thanks to our new spot exchange, you can now buy and sell DGTX without using third-party services. We offer traders the following DGTX trading pairs on Digitex:

  • DGTX/BTC (spot)
  • DGTX/ETH (spot)
  • DGTX/USDC (spot)

Enjoy Commission-Free Crypto Trading on Digitex

By introducing our new spot exchange, Digitex users can now trade an increased number of cryptocurrency pairs without any fees.

In addition to the ones currently offered on the exchange platform, we will be gradually adding new trading pairs based on demand and user feedback.

In the meantime, be sure to test your crypto trading strategies on the Digitex spot market.

And don’t forget to grab some DGTX instantly for USDC, ETH, or BTC via our digital asset exchange platform.

April 26, 2021
Digitex
Cryptocurrency

What Cryptocurrencies Are Available to Buy and Sell on Digitex?

Digitex
Crypto

Since our mainnet launch, Digitex has operated as a Bitcoin derivatives exchange allowing users to buy and sell cryptocurrency futures contracts without any trading fees.

However, as part of Digitex’s evolution, we rolled out our spot exchange last week to provide an optimized trading experience to all traders on the platform.

As a result, you can now enjoy a zero-fee crypto trading experience for digital asset pairs on both the spot and derivatives markets.

In this upgrade, we have also expanded our list with new trading pairs, which means you can now gain exposure to more digital assets on Digitex.

We have collected all the cryptocurrencies you can trade on the next-generation Digitex trading platform in this article. Check them out below.

Bitcoin (BTC)

Rank: 1st

Market capitalization: $1.059 trillion

YTD ROI: +96.45%

Launched in 2009 by the anonymous Satoshi Nakamoto, Bitcoin is the first cryptocurrency ever created and also the largest by market cap.

Created in the aftermath of the 2007-2008 financial crisis, Bitcoin features a peer-to-peer (P2P) electronic cash system that allows users to hold, receive, and send cryptocurrency without any intermediaries, according to the original BTC whitepaper.

That said, due to its limited supply and the deflationary mechanism that cuts the newly mined BTC supply in half every four years, Bitcoin also serves as an excellent store of value.

On Digitex, you can gain exposure to both spot market and Bitcoin derivatives trading pairs:

  • DGTX/BTC (spot)
  • ETH/BTC (spot)
  • BTC/USDC (spot)
  • BTC/USD (futures)

Ethereum (ETH)

Rank: 2nd

Market capitalization: $257 billion

YTD ROI: +201.87%

Launched in July 2015, Ethereum has introduced smart contracts – self-executing digital agreements between two or more parties – to the digital asset industry.

As a result, developers can program, deploy, and run their own decentralized applications (DApps) as well as create tokens and launch Initial Coin Offerings (ICOs) on top of the Ethereum blockchain.

For these reasons, Ethereum has been among the most active blockchain networks on the market that facilitated the ICO, decentralized finance (DeFi), and non-fungible token (NFT) booms.

You can trade ETH via the following trading pairs on Digitex:

  • DGTX/ETH (spot)
  • ETH/BTC (spot)
  • ETH/USDC (spot)
  • ETH/USD (futures)

USDC

Rank: 15th

Market capitalization: $11.3 billion

USDC is a stablecoin with a 1:1 peg to the USD’s value.

For that reason, while non-stablecoin cryptocurrencies often experience high levels of volatility with extreme price swings, USDC is able to maintain a relatively stable value.

This allows USDC to retain most of the benefits of cryptocurrencies – such as P2P transfers, cost-efficient fees, and fast transactions – while offering users the ability to trade digital asset pairs without exchanging their funds into fiat currencies.

Launched as the project of the global technology firm Circle, USDC quickly became the second-largest stablecoin by market capitalization just after Tether (USDT).

Digitex offers users the following USDC-based trading pairs on its platform:

  • DGTX/USDC (spot)
  • BTC/USDC (spot)
  • ETH/USDC (spot)

DGTX

Rank: 883rd

Market capitalization: $16.4 million

YTD ROI: +63.28%

DGTX is the native exchange token of the revolutionary crypto trading platform Digitex.

Since raising $5.2 million in 17 minutes during the Digitex token sale in January 2018, DGTX has played a vital role in our ecosystem.

DGTX is the cryptocurrency that allows our users to benefit from zero-fee crypto trading while powering the Digitex liquidity mining and DGTX rewards programs, which both offer traders new ways to earn crypto.

Thanks to our new spot exchange, you can now buy and sell DGTX without using third-party services. We offer traders the following DGTX trading pairs on Digitex:

  • DGTX/BTC (spot)
  • DGTX/ETH (spot)
  • DGTX/USDC (spot)

Enjoy Commission-Free Crypto Trading on Digitex

By introducing our new spot exchange, Digitex users can now trade an increased number of cryptocurrency pairs without any fees.

In addition to the ones currently offered on the exchange platform, we will be gradually adding new trading pairs based on demand and user feedback.

In the meantime, be sure to test your crypto trading strategies on the Digitex spot market.

And don’t forget to grab some DGTX instantly for USDC, ETH, or BTC via our digital asset exchange platform.

Latest News

The Best 3 Crypto Trading Strategies for Beginners 11

The Best 3 Crypto Trading Strategies for Beginners

Cryptocurrency
Digitex Futures
Trading
• Digitex
April 8, 2021

Whether you are holding for the long term or day trading crypto, you need a viable strategy to profit from the current bull market’s price moves.

That said, your crypto trading strategies shouldn’t be overly complex to avoid grave mistakes like misinterpreting signals.

For that reason, we have collected the best three crypto trading strategies both beginners and advanced traders can use to gain exposure to the rapidly-growing digital asset market.

Let’s see them!

1. Momentum Trading

Momentum trading is one of the most beginner-friendly crypto trading strategies out there.

In the financial industry, momentum refers to the speed at which an asset’s value is changing in either direction.

Instead of buying the dip and selling high, momentum traders ride the wave, entering a trade when a cryptocurrency’s price has already grown considerably while exiting their positions at a trend’s peak.

Using both fundamental and technical analysis tools, momentum traders screen the market to find assets that have recently entered into a strong trend. Once they spot one, they open long positions, which they only exit after a trend reversal occurs.

Even after a trend reversal, momentum traders may decide to enter the market again to short the asset if the downtrend is strong enough.

While it may sound counterproductive at first, this type of cryptocurrency trading strategy makes great sense in the digital asset space, where momentum occurs quite often.

For example, in the current bull market, a sudden increase in the demand for an asset, positive news for a project, or even just fear of missing out (FOMO) kicking in can all create strong, rapidly accelerating uptrends.

Momentum traders can take advantage of all the above while leveraging key indicators like market volatility, the Bitcoin trading volume, and timeframe analysis to gather crypto trading signals.

On the other hand, as with all crypto trading strategies, momentum trading also involves some risks. For that reason, effective risk management is crucial to achieving success with this strategy.

2. Swing Trading

Swing trading is also an excellent beginner-friendly crypto trading strategy.

Unlike long-term holding or day trading crypto, this strategy aims to make short- to medium-term profits on digital assets’ price movements.

With trades lasting from a couple of days to multiple months, swing traders use a combination of fundamental and technical analysis to spot crypto trading signals.

While increasing the time on the market allows traders to maximize their short-term profit potential, swing trading doesn’t involve as much effort as day trading. Instead of checking charts every day, swing traders enter and exit positions once every few days or weeks.

On the other hand, swing traders have to regularly monitor the market for potential reversals to minimize their risks and increase their profits.

3. Scalping

Scalping is a straightforward, high-frequency crypto day trading strategy in which traders aim to make quick profits on digital assets’ minor price changes.

Since they only focus on extremely short-term price movements, scalpers don’t take an asset’s fundamentals into account. Instead, they rely exclusively on technical analysis to enter many quick trades.

Since the profits are small for each trade, those using this crypto trading strategy usually enter and exit hundreds of positions in a day.

Scalping is based on the following three trading principles:

  • Less exposure to the market limits traders’ risks as the probability is much lower for getting impacted by an adverse event than for longer-term strategies.
  • It’s easier for an asset to make smaller moves than larger ones (e.g., a $10 change in the BTC price is more likely than a $1,000).
  • Smaller moves are much more frequent than bigger ones, even when the market is relatively quiet.

In addition to the above, scalpers must be disciplined while using strict entry and exit strategies to limit their risks since a large loss is enough to take away most of their profits.

It’s also essential for traders utilizing this crypto trading strategy to pick an exchange with cost-efficient fees as high spreads can easily turn their gains into losses.

For that reason, the Digitex exchange is the perfect choice for scalpers and other high-frequency traders as they can enjoy a free crypto trading experience to maximize their profits.

 

April 8, 2021
Cryptocurrency
Digitex Futures
Trading

The Best 3 Crypto Trading Strategies for Beginners

Digitex
The Best 3 Crypto Trading Strategies for Beginners 12

Whether you are holding for the long term or day trading crypto, you need a viable strategy to profit from the current bull market’s price moves.

That said, your crypto trading strategies shouldn’t be overly complex to avoid grave mistakes like misinterpreting signals.

For that reason, we have collected the best three crypto trading strategies both beginners and advanced traders can use to gain exposure to the rapidly-growing digital asset market.

Let’s see them!

1. Momentum Trading

Momentum trading is one of the most beginner-friendly crypto trading strategies out there.

In the financial industry, momentum refers to the speed at which an asset’s value is changing in either direction.

Instead of buying the dip and selling high, momentum traders ride the wave, entering a trade when a cryptocurrency’s price has already grown considerably while exiting their positions at a trend’s peak.

Using both fundamental and technical analysis tools, momentum traders screen the market to find assets that have recently entered into a strong trend. Once they spot one, they open long positions, which they only exit after a trend reversal occurs.

Even after a trend reversal, momentum traders may decide to enter the market again to short the asset if the downtrend is strong enough.

While it may sound counterproductive at first, this type of cryptocurrency trading strategy makes great sense in the digital asset space, where momentum occurs quite often.

For example, in the current bull market, a sudden increase in the demand for an asset, positive news for a project, or even just fear of missing out (FOMO) kicking in can all create strong, rapidly accelerating uptrends.

Momentum traders can take advantage of all the above while leveraging key indicators like market volatility, the Bitcoin trading volume, and timeframe analysis to gather crypto trading signals.

On the other hand, as with all crypto trading strategies, momentum trading also involves some risks. For that reason, effective risk management is crucial to achieving success with this strategy.

2. Swing Trading

Swing trading is also an excellent beginner-friendly crypto trading strategy.

Unlike long-term holding or day trading crypto, this strategy aims to make short- to medium-term profits on digital assets’ price movements.

With trades lasting from a couple of days to multiple months, swing traders use a combination of fundamental and technical analysis to spot crypto trading signals.

While increasing the time on the market allows traders to maximize their short-term profit potential, swing trading doesn’t involve as much effort as day trading. Instead of checking charts every day, swing traders enter and exit positions once every few days or weeks.

On the other hand, swing traders have to regularly monitor the market for potential reversals to minimize their risks and increase their profits.

3. Scalping

Scalping is a straightforward, high-frequency crypto day trading strategy in which traders aim to make quick profits on digital assets’ minor price changes.

Since they only focus on extremely short-term price movements, scalpers don’t take an asset’s fundamentals into account. Instead, they rely exclusively on technical analysis to enter many quick trades.

Since the profits are small for each trade, those using this crypto trading strategy usually enter and exit hundreds of positions in a day.

Scalping is based on the following three trading principles:

  • Less exposure to the market limits traders’ risks as the probability is much lower for getting impacted by an adverse event than for longer-term strategies.
  • It’s easier for an asset to make smaller moves than larger ones (e.g., a $10 change in the BTC price is more likely than a $1,000).
  • Smaller moves are much more frequent than bigger ones, even when the market is relatively quiet.

In addition to the above, scalpers must be disciplined while using strict entry and exit strategies to limit their risks since a large loss is enough to take away most of their profits.

It’s also essential for traders utilizing this crypto trading strategy to pick an exchange with cost-efficient fees as high spreads can easily turn their gains into losses.

For that reason, the Digitex exchange is the perfect choice for scalpers and other high-frequency traders as they can enjoy a free crypto trading experience to maximize their profits.

 

Latest News

4 Ways that Bitcoin Trading Volumes Impact Crypto Trading Strategies 13

4 Ways that Bitcoin Trading Volumes Impact Crypto Trading Strategies

Cryptocurrency
Crypto Industry
Trading
• Digitex
April 7, 2021

The Bitcoin trading volume is a crucial indicator for both cryptocurrency investors and traders.

According to a CoinDesk Markets survey, trading volume was ranked as the top indicator traders “couldn’t live without,” scoring 38% among all poll respondents.

Currently, the 24-hour BTC trading volume is standing at nearly $73 billion, which is up by 8% since the last day. 

4 Ways that Bitcoin Trading Volumes Impact Crypto Trading Strategies 14

But what is the Bitcoin trading volume, what does it tell us about the market, and how does it impact crypto trading strategies Let’s explore the answers to the above questions together in this article!

Bitcoin Trading Volume Explained

The Bitcoin trading volume measures how much BTC has been traded on cryptocurrency exchanges in a certain period of time (the most common timeframe is 24 hours).

For Bitcoin derivatives trading, the volume provides data about the number of futures or options contracts changing hands between buyers and sellers.

When buyers and sellers reach an agreement at a certain price for a trading pair (e.g., BTC/USD), the exchange facilitating the trade records the transaction and uses that data to calculate the trading volume for the digital asset.

For example, suppose Alice sells 1 BTC to Bob at $60,000. In that case, the facilitating exchange records a volume of either $60,000 or 1 BTC for the BTC/USD trading pair based on the currency the service uses for denominating it.

How Does the Bitcoin Trading Volume Impact Crypto Trading Strategies?

Whether you are day trading crypto or holding digital assets for the long-term, you can use the Bitcoin trading volume to gather valuable insights about the market.

For that reason, the Bitcoin trading volume has an impact on crypto trading strategies and the financial decisions of users.

Traders can use volumes to discover the following crypto trading signals:

  1. Confirm trends: During a bull market, a high trading volume with great enthusiasm from buyers is crucial to keep pushing prices upwards. For that reason, it’s usually a bullish signal when both the volume and the price are increasing. On the other hand, when a digital asset’s price is surging, but its trading volume is decreasing, it is a warning sign of an upcoming potential reversal.
  2. Exhaustion moves: Monitoring the trading volume is also an excellent way to identify exhaustion moves. Featuring a sharp move into any direction as well as a significant volume growth, an exhaustion move can indicate a trend’s potential end.
  3. Price reversals: After excessive price movements in either direction, a significantly high volume paired with minor changes in the price can indicate that a reversal is imminent, in which the asset’s value will move in the opposite direction.
  4. Dead projects: While there are over 9,100 cryptocurrencies present on the market, not all of them have active projects behind them. Monitoring the current and historical trading volume of a cryptocurrency is an excellent way to limit your risks by filtering out dead coins with very low daily volumes.

Closing Thoughts

When investing for the long term or day trading crypto, incorporating the Bitcoin trading volume in your strategy helps you discover crucial market trends and gather signals that support you to make the right decisions.

For that reason, it’s essential to adjust your crypto trading strategy to include the Bitcoin trading volume as part of your fundamental and technical analysis.

In the meantime, be sure to leverage your new digital asset trading strategies at the next-generation futures trading platform Digitex to trade crypto for free while enjoying the benefits of a robust exchange solution.

Also, you shouldn’t forget to check out DGTX, Digitex’s native exchange token, which you can buy now with a credit card

 

April 7, 2021
Cryptocurrency
Crypto Industry
Trading

4 Ways that Bitcoin Trading Volumes Impact Crypto Trading Strategies

Digitex
4 Ways that Bitcoin Trading Volumes Impact Crypto Trading Strategies 15

The Bitcoin trading volume is a crucial indicator for both cryptocurrency investors and traders.

According to a CoinDesk Markets survey, trading volume was ranked as the top indicator traders “couldn’t live without,” scoring 38% among all poll respondents.

Currently, the 24-hour BTC trading volume is standing at nearly $73 billion, which is up by 8% since the last day. 

4 Ways that Bitcoin Trading Volumes Impact Crypto Trading Strategies 16

But what is the Bitcoin trading volume, what does it tell us about the market, and how does it impact crypto trading strategies Let’s explore the answers to the above questions together in this article!

Bitcoin Trading Volume Explained

The Bitcoin trading volume measures how much BTC has been traded on cryptocurrency exchanges in a certain period of time (the most common timeframe is 24 hours).

For Bitcoin derivatives trading, the volume provides data about the number of futures or options contracts changing hands between buyers and sellers.

When buyers and sellers reach an agreement at a certain price for a trading pair (e.g., BTC/USD), the exchange facilitating the trade records the transaction and uses that data to calculate the trading volume for the digital asset.

For example, suppose Alice sells 1 BTC to Bob at $60,000. In that case, the facilitating exchange records a volume of either $60,000 or 1 BTC for the BTC/USD trading pair based on the currency the service uses for denominating it.

How Does the Bitcoin Trading Volume Impact Crypto Trading Strategies?

Whether you are day trading crypto or holding digital assets for the long-term, you can use the Bitcoin trading volume to gather valuable insights about the market.

For that reason, the Bitcoin trading volume has an impact on crypto trading strategies and the financial decisions of users.

Traders can use volumes to discover the following crypto trading signals:

  1. Confirm trends: During a bull market, a high trading volume with great enthusiasm from buyers is crucial to keep pushing prices upwards. For that reason, it’s usually a bullish signal when both the volume and the price are increasing. On the other hand, when a digital asset’s price is surging, but its trading volume is decreasing, it is a warning sign of an upcoming potential reversal.
  2. Exhaustion moves: Monitoring the trading volume is also an excellent way to identify exhaustion moves. Featuring a sharp move into any direction as well as a significant volume growth, an exhaustion move can indicate a trend’s potential end.
  3. Price reversals: After excessive price movements in either direction, a significantly high volume paired with minor changes in the price can indicate that a reversal is imminent, in which the asset’s value will move in the opposite direction.
  4. Dead projects: While there are over 9,100 cryptocurrencies present on the market, not all of them have active projects behind them. Monitoring the current and historical trading volume of a cryptocurrency is an excellent way to limit your risks by filtering out dead coins with very low daily volumes.

Closing Thoughts

When investing for the long term or day trading crypto, incorporating the Bitcoin trading volume in your strategy helps you discover crucial market trends and gather signals that support you to make the right decisions.

For that reason, it’s essential to adjust your crypto trading strategy to include the Bitcoin trading volume as part of your fundamental and technical analysis.

In the meantime, be sure to leverage your new digital asset trading strategies at the next-generation futures trading platform Digitex to trade crypto for free while enjoying the benefits of a robust exchange solution.

Also, you shouldn’t forget to check out DGTX, Digitex’s native exchange token, which you can buy now with a credit card

 

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How Long Before Ethereum Fees Get Lower? 17

How Long Before Ethereum Fees Get Lower?

Cryptocurrency
Crypto Industry
• Digitex
April 5, 2021

Ethereum has been grabbing the headlines a lot lately. From the rising popularity of DeFi and NFTs to being Visa’s blockchain of choice for settling its first transaction, ETH price has been on the up, recently marking its latest all-time high of over $2,100. All this action surrounding the premier altcoin has undoubtedly been bullish for HODLers and yield farmers. But, what about regular users trying to interact with the Ethereum blockchain? 

Rising gas fees on the network have been pricing them out of the market. According to  BitInfoCharts, this time last year, the average transaction fee on the Ethereum network was around 8 cents. Today, users are facing regular averages of around $20 just to move funds, calling the promise of low fees and near-instant transfers of value into question. And for traders looking to avoid the volatility of cryptocurrencies by using stablecoins, such as the ERC20 versions of USDT or USDC on Ethereum, high fees create a barrier.

In tandem with rising fees comes rising network congestion. Not only do users have to pay prices on a par with PayPal to move their funds but they also have to wait for lengthy periods of time to do so. While the solution to all these problems is touted to be the long-awaited transition to a Proof of Stake blockchain (ETH 2.0), that could be a long time coming. So, how long will users really have to wait before Ethereum fees get lower?

Optimistic Rollups

Ethereum users cannot wait for years to resolve the problem of high fees as DeFi grows and Ethereum attracts increasing attention from investors. Interim solutions are needed in the meantime. Even Vitalik Buterin recognized that Ethereum scaling was a top priority  and that a solution in the shape of optimistic rollups was on the cards very soon.

How Long Before Ethereum Fees Get Lower? 18

If you think of the blockchain in layers, Ethereum is a layer 1 protocol, whereas rollups are a layer 2 solution that aggregate transactions and store them inside smart contracts to reduce congestion on the network and bring gas fees down.  

The concept of rollups was first described way back in 2014, but they were referred to as “shadow chains.” And now that network congestion and fees have been thrust into the limelight once more, their utility is back on the table. How long will it take for them to be implemented? Some projects such as Polygon (formerly Matic) have already started using them with success and, optimistically (groan), rollups could act as the mid-term solution for Ethereum.

Berlin Hard Fork

Another solution for gas fees may lie in the upcoming Berlin Hard Fork, slated to take place on April 14, 2021. Months in the planning, however, it’s not certain just how much of a dent the hard fork will make in gas fees or whether it will improve congestion. Four main improvement protocols (EIPs) will be deployed in Berlin to make the network more robust and hacker-resistant, as well as tackling gas fees. 

But different analysts have questioned how much of an effect the Berlin hard fork will really have on gas fees, citing that Ethereum has deep structural changes that need to be resolved for it to scale first before sustainable gas fees are achieved. 

Competing Blockchains

In the meantime, cryptocurrency industry participants are not sitting idle. Several PoS smart contract blockchains from Solana to Algorand have already started rolling out solutions to help traders avoid Ethereum’s high gas fees.

By running stablecoins like USDC and USDT on these blockchains, traders can move their funds from a crypto like BTC or ETH into a stablecoin almost instantly and for a cost of next to nothing. This is particularly appealing to high-frequency traders and users who simply want to move small-to-modest amounts of value without paying exorbitant fees.

There is also an increasing number of blockchains integrating EVM compatibility. This allows any smart contract deployed on the Ethereum blockchain to be deployed on them. dApp developers being priced out of the market by high fees can easily migrate their dApps to one of these blockchains and continue to develop without the high cost.

However, most of these come with trade-offs and are arguably centralized or flawed in some form or another. Moreover, network effect isn’t something that you simply knock out of the park straight away. Ethereum has much longer time in the market and still far and away the largest developer community, and number of dApps in the cryptosphere. It’s also the backbone of the majority of DeFi projects and is well-recognized now among a growing class of institutional investors.

Closing Thoughts

The upcoming Berlin hard fork could give network users some temporary relief as far as high gas fees go and optimistic rollups seem to be the next likely major step forward for Ethereum before it transitions to ETH 2.0. 

With a little bit of luck, we might expect to see lower gas fees on Ethereum by the middle of this month and at least sustainable rates coming soon while we wait for ETH 2.0. In the meantime, Ethereum will certainly be keeping its eyes open to the cohort of high throughput blockchains that are springing up around it promising faster transactions and lower costs. 

Want to trade ETH futures with zero commissions on crypto’s only trading ladder interface? Sign up for a KYC-free account and start making gains now.

April 5, 2021
Cryptocurrency
Crypto Industry

How Long Before Ethereum Fees Get Lower?

Digitex
How Long Before Ethereum Fees Get Lower? 19

Ethereum has been grabbing the headlines a lot lately. From the rising popularity of DeFi and NFTs to being Visa’s blockchain of choice for settling its first transaction, ETH price has been on the up, recently marking its latest all-time high of over $2,100. All this action surrounding the premier altcoin has undoubtedly been bullish for HODLers and yield farmers. But, what about regular users trying to interact with the Ethereum blockchain? 

Rising gas fees on the network have been pricing them out of the market. According to  BitInfoCharts, this time last year, the average transaction fee on the Ethereum network was around 8 cents. Today, users are facing regular averages of around $20 just to move funds, calling the promise of low fees and near-instant transfers of value into question. And for traders looking to avoid the volatility of cryptocurrencies by using stablecoins, such as the ERC20 versions of USDT or USDC on Ethereum, high fees create a barrier.

In tandem with rising fees comes rising network congestion. Not only do users have to pay prices on a par with PayPal to move their funds but they also have to wait for lengthy periods of time to do so. While the solution to all these problems is touted to be the long-awaited transition to a Proof of Stake blockchain (ETH 2.0), that could be a long time coming. So, how long will users really have to wait before Ethereum fees get lower?

Optimistic Rollups

Ethereum users cannot wait for years to resolve the problem of high fees as DeFi grows and Ethereum attracts increasing attention from investors. Interim solutions are needed in the meantime. Even Vitalik Buterin recognized that Ethereum scaling was a top priority  and that a solution in the shape of optimistic rollups was on the cards very soon.

How Long Before Ethereum Fees Get Lower? 20

If you think of the blockchain in layers, Ethereum is a layer 1 protocol, whereas rollups are a layer 2 solution that aggregate transactions and store them inside smart contracts to reduce congestion on the network and bring gas fees down.  

The concept of rollups was first described way back in 2014, but they were referred to as “shadow chains.” And now that network congestion and fees have been thrust into the limelight once more, their utility is back on the table. How long will it take for them to be implemented? Some projects such as Polygon (formerly Matic) have already started using them with success and, optimistically (groan), rollups could act as the mid-term solution for Ethereum.

Berlin Hard Fork

Another solution for gas fees may lie in the upcoming Berlin Hard Fork, slated to take place on April 14, 2021. Months in the planning, however, it’s not certain just how much of a dent the hard fork will make in gas fees or whether it will improve congestion. Four main improvement protocols (EIPs) will be deployed in Berlin to make the network more robust and hacker-resistant, as well as tackling gas fees. 

But different analysts have questioned how much of an effect the Berlin hard fork will really have on gas fees, citing that Ethereum has deep structural changes that need to be resolved for it to scale first before sustainable gas fees are achieved. 

Competing Blockchains

In the meantime, cryptocurrency industry participants are not sitting idle. Several PoS smart contract blockchains from Solana to Algorand have already started rolling out solutions to help traders avoid Ethereum’s high gas fees.

By running stablecoins like USDC and USDT on these blockchains, traders can move their funds from a crypto like BTC or ETH into a stablecoin almost instantly and for a cost of next to nothing. This is particularly appealing to high-frequency traders and users who simply want to move small-to-modest amounts of value without paying exorbitant fees.

There is also an increasing number of blockchains integrating EVM compatibility. This allows any smart contract deployed on the Ethereum blockchain to be deployed on them. dApp developers being priced out of the market by high fees can easily migrate their dApps to one of these blockchains and continue to develop without the high cost.

However, most of these come with trade-offs and are arguably centralized or flawed in some form or another. Moreover, network effect isn’t something that you simply knock out of the park straight away. Ethereum has much longer time in the market and still far and away the largest developer community, and number of dApps in the cryptosphere. It’s also the backbone of the majority of DeFi projects and is well-recognized now among a growing class of institutional investors.

Closing Thoughts

The upcoming Berlin hard fork could give network users some temporary relief as far as high gas fees go and optimistic rollups seem to be the next likely major step forward for Ethereum before it transitions to ETH 2.0. 

With a little bit of luck, we might expect to see lower gas fees on Ethereum by the middle of this month and at least sustainable rates coming soon while we wait for ETH 2.0. In the meantime, Ethereum will certainly be keeping its eyes open to the cohort of high throughput blockchains that are springing up around it promising faster transactions and lower costs. 

Want to trade ETH futures with zero commissions on crypto’s only trading ladder interface? Sign up for a KYC-free account and start making gains now.

Latest News

bitcoin derivatives

What Are Bitcoin Derivatives and What Benefits Do They Offer for Traders?

Digitex Futures
Cryptocurrency
Trading
• Digitex

Bitcoin derivatives trading has been on the rise.

According to a TokenInsight report, the crypto derivatives market featured a $2.7 trillion trading volume in Q3 2020, representing a 25.1% surge from the previous quarter as well as a year-over-year (YoY) growth of nearly 160%.

But what are Bitcoin derivatives, what benefits do they offer, and what is the best crypto trading platform to get started?

Bitcoin Derivatives Trading Explained

With rising popularity in both the crypto industry and traditional finance, derivatives are financial contracts between two or more parties that derive their values from one or a basket of underlying assets.

Bitcoin derivatives products follow the BTC price, allowing users to trade contracts without owning the digital asset.

Most cryptocurrency derivatives fall into the following two categories:

  • Options contracts: Crypto options refer to an agreement between two parties to buy or sell a digital asset at a fixed price before the expiration date. While buyers (holders) purchase options from sellers (writers) at a premium, the prior parties are not obliged to exercise their rights on the expiry date.
  • Futures contracts: Bitcoin futures contracts are very similar to options as they also feature an agreement between two parties to trade an underlying digital asset at a predetermined price at a future date. However, unlike options contracts, both the buyers and sellers of crypto futures are required to fulfill their commitments.

In addition to what the spot market offers, Bitcoin derivatives trading allows users to:

  1. Trade digital assets on a margin with leverage to increase the potential for profits
  2. Harness the benefits of a bear market by shorting digital assets
  3. Stabilize price fluctuations during times of extreme volatility
  4. Hedge against the risks of the crypto market

Where to Trade Bitcoin Derivatives?

Now that you know the basics let’s see where to trade Bitcoin derivatives.

The best way to gain exposure to digital asset derivatives is via a cryptocurrency exchange that offers the following features to traders:

  1. High liquidity
  2. Reasonable trading fees
  3. Robust and beginner-friendly platform
  4. Access to multiple cryptocurrency derivatives products
  5. Fast deposits and withdrawals

Is There a Way to Trade Crypto Derivatives for Free?

Most cryptocurrency exchanges impose fees on derivatives trading to maintain a profitable business.

While the standard trading fees range around 0.10% at the majority of the providers, the costs can easily add up if you are using leverage. For example, on a 100x leverage, the exchange will deduct 10% of your margin on every single trade.

Doing so hurts your profitability while rendering the crypto trading strategies of many scalpers and high-frequency traders null and void.

But what if we told you that there is a way that allows you to trade crypto derivatives for free?

Meet Digitex, the next-generation futures exchange that offers commission-free cryptocurrency trading for all its users.

What Are Bitcoin Derivatives and What Benefits Do They Offer for Traders? 21

Digitex achieves free crypto trading on its platform by leveraging its native DGTX token.

Denominating all account balances in DGTX and using the cryptocurrency to pay out profits and losses allows the exchange’s users to enjoy a zero-fee trading experience while keeping 100% of their revenue.

In addition to the ability to trade crypto for FREE, Digitex offers the following benefits to its users:

  1. Rewards programs to earn an extra income on your crypto
  2. Enhanced liquidity
  3. Seamless and user-friendly platform
  4. Lightning-fast matching engine with one-click trade submission
  5. Automated crypto trading to maximize revenue and accumulate more DGTX rewards via liquidity mining
  6. 24/7 availability
  7. Peer-to-peer (P2P) trading without intermediaries

Digitex: the Revolutionary Crypto Trading Platform for Bitcoin Derivatives

With zero fees, lightning-fast speed, generous rewards programs, as well as a robust crypto trading platform, Digitex is the right choice for every trader looking to gain easy exposure to digital asset derivatives.

Are you ready to trade Bitcoin derivatives while keeping 100% of your profits? Create an account at Digitex now.

Also, don’t forget to stock up your DGTX bags to benefit from Digitex’s rapid growth and profit from the favorable price movements of the crypto exchanges’ native token (DGTX closed March with an amazing 222% ROI).

 

April 5, 2021
Digitex Futures
Cryptocurrency
Trading

What Are Bitcoin Derivatives and What Benefits Do They Offer for Traders?

Digitex
bitcoin derivatives

Bitcoin derivatives trading has been on the rise.

According to a TokenInsight report, the crypto derivatives market featured a $2.7 trillion trading volume in Q3 2020, representing a 25.1% surge from the previous quarter as well as a year-over-year (YoY) growth of nearly 160%.

But what are Bitcoin derivatives, what benefits do they offer, and what is the best crypto trading platform to get started?

Bitcoin Derivatives Trading Explained

With rising popularity in both the crypto industry and traditional finance, derivatives are financial contracts between two or more parties that derive their values from one or a basket of underlying assets.

Bitcoin derivatives products follow the BTC price, allowing users to trade contracts without owning the digital asset.

Most cryptocurrency derivatives fall into the following two categories:

  • Options contracts: Crypto options refer to an agreement between two parties to buy or sell a digital asset at a fixed price before the expiration date. While buyers (holders) purchase options from sellers (writers) at a premium, the prior parties are not obliged to exercise their rights on the expiry date.
  • Futures contracts: Bitcoin futures contracts are very similar to options as they also feature an agreement between two parties to trade an underlying digital asset at a predetermined price at a future date. However, unlike options contracts, both the buyers and sellers of crypto futures are required to fulfill their commitments.

In addition to what the spot market offers, Bitcoin derivatives trading allows users to:

  1. Trade digital assets on a margin with leverage to increase the potential for profits
  2. Harness the benefits of a bear market by shorting digital assets
  3. Stabilize price fluctuations during times of extreme volatility
  4. Hedge against the risks of the crypto market

Where to Trade Bitcoin Derivatives?

Now that you know the basics let’s see where to trade Bitcoin derivatives.

The best way to gain exposure to digital asset derivatives is via a cryptocurrency exchange that offers the following features to traders:

  1. High liquidity
  2. Reasonable trading fees
  3. Robust and beginner-friendly platform
  4. Access to multiple cryptocurrency derivatives products
  5. Fast deposits and withdrawals

Is There a Way to Trade Crypto Derivatives for Free?

Most cryptocurrency exchanges impose fees on derivatives trading to maintain a profitable business.

While the standard trading fees range around 0.10% at the majority of the providers, the costs can easily add up if you are using leverage. For example, on a 100x leverage, the exchange will deduct 10% of your margin on every single trade.

Doing so hurts your profitability while rendering the crypto trading strategies of many scalpers and high-frequency traders null and void.

But what if we told you that there is a way that allows you to trade crypto derivatives for free?

Meet Digitex, the next-generation futures exchange that offers commission-free cryptocurrency trading for all its users.

What Are Bitcoin Derivatives and What Benefits Do They Offer for Traders? 22

Digitex achieves free crypto trading on its platform by leveraging its native DGTX token.

Denominating all account balances in DGTX and using the cryptocurrency to pay out profits and losses allows the exchange’s users to enjoy a zero-fee trading experience while keeping 100% of their revenue.

In addition to the ability to trade crypto for FREE, Digitex offers the following benefits to its users:

  1. Rewards programs to earn an extra income on your crypto
  2. Enhanced liquidity
  3. Seamless and user-friendly platform
  4. Lightning-fast matching engine with one-click trade submission
  5. Automated crypto trading to maximize revenue and accumulate more DGTX rewards via liquidity mining
  6. 24/7 availability
  7. Peer-to-peer (P2P) trading without intermediaries

Digitex: the Revolutionary Crypto Trading Platform for Bitcoin Derivatives

With zero fees, lightning-fast speed, generous rewards programs, as well as a robust crypto trading platform, Digitex is the right choice for every trader looking to gain easy exposure to digital asset derivatives.

Are you ready to trade Bitcoin derivatives while keeping 100% of your profits? Create an account at Digitex now.

Also, don’t forget to stock up your DGTX bags to benefit from Digitex’s rapid growth and profit from the favorable price movements of the crypto exchanges’ native token (DGTX closed March with an amazing 222% ROI).

 

Latest News