Bitcoin Is Now Useless For Smaller Transactions
Adam at Digitex
On the Digitex Futures Exchange your account balance is denominated in DGTX tokens. The tick size of every Digitex futures market is 1 DGTX token, meaning that your profits and losses from trading on the price of Bitcoin against the US Dollar are always in DGTX tokens.
On other Bitcoin futures exchanges your account balance is denominated in Bitcoin. This may seem more intuitive. But unfortunately it is now prohibitively expensive to use Bitcoin for smaller transactions like account deposits and withdrawals. What’s the point of making $50 profit on Bitmex if it costs you $50 in Bitcoin network fees to withdraw it?
The DGTX token doesn’t only give its owner the ability to buy and sell futures contracts with no transaction fees. Just as importantly, DGTX owners can also deposit and withdraw their DGTX tokens into and from their trading account without their trading balance getting eaten up by network fees.
DGTX is a ERC-223 token that runs off the Ethereum blockchain. The Ethereum blockchain not only has higher capacity, shorter block times and better technology than Bitcoin, but because of all that it also has much lower transaction fees. This prevents smaller deposits and withdrawals from being eaten up by network fees, which is what happens on all Bitcoin denominated futures exchanges.
Adam at Digitex
Sign in or register to add a comment.
Add a Comment
Welcome to the Digitex Forum!
or contact us at
Digitex Futures Exchange
Terms of Service
Useful Hints and Tips
Created with PlushForums
© 2018 Digitex Community