Digitex Launches Spot Exchange
With the current bitcoin bull run and greater institutional support, more people than ever are entering the industry, and more products are being introduced to accommodate this growing demand.
One of the latest of these comes from Digitex, a commission-free exchange. The firm has announced on April 15, 2021, that its new spot market has formally launched. In a bid to make the trading experience easier for new members and benefit existing ones, their new spot exchange allows the buying of DGTX directly as well as other popular cryptocurrency pairs.
Details About the Digitex Spot Market
As part of the launch, six new trading pairs have been introduced: DGTX/BTC, DGTX/ETH, ETH/BTC, BTC/USDC, ETH/USDC, and DGTX/USDC. There are many suggested benefits to spot markets, including for those that are not interested in futures trading.
This type of customers can make as many transactions as they want and will not have to incur any fees while doing so. Digitex also allows users to withdraw their funds at no additional charge. The crypto market is a volatile one, and while this might make it unpredictable, it also makes it an exciting one to capitalize on. Digitex users can now take advantage of it using a single exchange wallet.
Following their principle of respecting users’ privacy, no KYC is required for customers to carry out their transactions, but they are currently running a special offer for new customers to receive $25 upon completing their KYC.
According to Digitex CEO and founder Adam Todd, these new measures are designed to make the customer experience as seamless as possible, and this is in line with the company’s philosophy.
“We want to offer our traders an experience they won’t find anywhere else. So, not only have we removed ALL fees, zero trading, and zero withdrawal fees, but we’ve also really improved our UX and UI on this latest release. By allowing traders to trade cryptocurrencies and futures from one universal wallet, they can interact with our markets in a faster and more convenient way that’s delivering real value to users,” he said.
Digitex’s current futures trading option was introduced almost a year ago in July 2020 and was designed to allow high-frequency transactions without users having to pay fees on every one of them. This has proven to be a resounding success so far, with a record 22 billion contracts processed in a 24-hour period. The exchange has also maintained its zero-fee trading model by leveraging its native DGTX token, which is used for the payout of profits and losses.
Ultimately, Digitex is taking the initiative to serve the relatively new crypto market that will only get bigger over time. Not only this, but players in the market will want to make transactions with as few fees as possible and as quickly as they can.