Digitex’s BTC Futures Trading Platform Is ‘Addictive’, Testers Say

Ahead of its upcoming public testnet launch on November 30, Digitex Futures began closed testing for its Alpha group. The first 100 or so testers are comprised of experienced traders, industry influencers, and some of the company’s most loyal supporters--and loyal, indeed, they have had to be.

After a long and bumpy road to reach this point, Digitex Futures may just be one of the biggest comeback kids of crypto.

Initial Feedback from the First Testers

In tandem with the closed tester onboarding, Digitex opened up a Telegram group in which traders could share their experiences, provide feedback, and report bugs. The group has been a non-stop hive of activity over the past few days and the response has been overwhelmingly positive so far.

Telegram chat

Among the most common comments the company is receiving is that trading on the testnet is “addictive”. CEO and founder Adam Todd held a live AMA in the Telegram chat this Monday in which testers congratulated him for creating such a “fun” and “addictive” environment to trade on.

One tester said, “u have a made a dangerously fun platform. Hard to stop myself from putting orders on the ladder interface.”

Another added,

My experience with the closed testnet version of the Digitex Futures exchange has been great so far. I tried to place only a few orders at first and tried to gain some DGTX just by going in and out all the time with one tick wins. After several trades, I was up 1000 DGTX. To be honest… it is very addictive!

A further tester echoed the sentiment saying, “I traded until 4:30 am then my laptop battery ran out! It’s highly addictive!” And another said, “The combination of one-click trading plus no fees make it feel extremely easy to go big and play aggressive... I can’t wait to see how it works with a lot more people on the platform.”

There’s Still Work to Be Done

Apart from praise for the ease with which traders are making (play) money thanks to market makers set to be active; users are seemingly loving the ability to place orders with one click.

Digitex uses a trading ladder interface that allows traders to stay in the zone. They can literally see the price moving up and down on either side of the ladder and place trades with a single mouse click, no need for extra keyboard strokes or mouse movements.

They’re also enjoying seeing the exchange being developed and improved upon every day. One tester exclaimed:

What I like the most is the constant development and improvements being done every day. In the beginning, we had only access to the main user interface with ladder, chart, etc. The very next day, a panel was added with other pages such as my profile, wallets, history, support, etc. Improvements are literally being done while trading.

trading platform

As Adam explained in Monday’s AMA, the testnet is still very much a work in progress and many more features are being added all the time. In fact, just as some of the testers asked him whether he had received their early feedback, he shared some screen captures with them of a new interface already incorporating their suggestions.

Trading platform

He answered multiple questions throughout the rapid-fire AMA and thanked the group for the time taken to provide feedback as well as ask questions and put the exchange through its paces.

He also explained that, so far, the bugs that are being reported were known about but, “it’s good that they’re being reported by others and not just me.” He went on to say, “So overall very happy with how stable everything is and now it’s just a case of making it totally solid for mainnet.”

Third Time's a Charm

They say the third time's a charm and for Digitex Futures, nothing could be closer to the truth. The company’s very public launch delays and scraps with development teams lead many to lose faith in the project. In fact, at the end of April this year, DGTX, the exchange’s native token lost more than 75% of its worth in less than an hour.

Adam Todd and his team were called just about every name under the sun and struck off the list by many as a scam that would never come to fruition. After such a white-knuckle rollercoaster ride and through sheer determination of a dogged CEO, it’s great to see Digitex finally getting closer to reaching its goals.


This is a sponsored post and does not represent investment advice from CryptoGlobe. Please remember that the value of investments, and any income from them, can fall as well as rise so you could get back less than you invest

Sub-accounts in Crypto: What They Are and How They Work

 

Julia Gerstein, a crypto trading bots enthusiast and a content writer at TradeSanta. My final goal is to help readers find what they need, understand what they find, and use what they understand appropriately.


Speaking generally, a sub-account is a segregated smaller account that is tied to a larger primary account. Sub-accounts may serve different functions depending on the objectives of their owners. The term can refer to multiple email addresses linked to one user or secondary accounts tied to a primary account with a financial institution or a bank.

For this article, we will be looking at sub-accounts as they exist in the crypto industry, and specifically on trading platforms.

Built-in Sub-Accounts

On trading platforms, the sub-accounts feature allows users to create a set of subsidiary accounts with different trading strategies, funds and end customers. On some platforms, general accounts already come with built-in sub-accounts.

For example, exchange platform Crypto Facilities provides each user with cash and margin accounts when they sign up. While deposits and withdrawals are completed with the cash account, trading an instrument requires users to make an internal transfer from a cash account to their margin account that corresponds to the instrument in question.

Each instrument has its own margin account. This grants users more control over their funds and allows them to manage risks for each instrument separately from their main balance.

Optional Sub-Accounts

Other cryptocurrency exchanges, such as Gemini and Binance, have launched sub-accounts as an optional feature for institutional investors.

As an optional feature, sub-accounts can serve to introduce additional security measures and different access levels between the main account and its subsidiaries. Binance has underlined the differences between a master account and its subsidiaries, providing the former with the exclusive ability to view all data and balances, transfer funds between accounts, and have full managerial control and access to a range of asset audit tools.

Here master accounts have sole control over the movement of assets between sub-accounts, and can grant each of them different access levels and permissions. This ensures that the main account has the power to direct and monitor the actions of all its associated accounts, while each sub-account can perform its function independently from other sub-accounts.

Not Only for Institutional Investors

While institutional investors have been able to create sub-accounts for a while, this feature is still being introduced by more and more major exchanges.

Now even individual investors can create subsidiary accounts to try and assess the performance of distinct trading strategies. For example, HitBTC recently introduced its own sub-accounts feature that is now available per user’s request.

At HitBTC, sub-accounts enable users to create separate subsidiary accounts with which they can utilize various trading styles and strategies with operational autonomy. While each sub-account is separate, all of them are still tied to a master account and contribute to the cumulative volume of all accounts connected to the master.

Because trading volume is measured cumulatively, the use of the subaccounts feature can open up additional benefits for traders such as lower commissions due to progressive fee tiers that reward users for contributing to the liquidity on the trading platform.

Therefore, users can perform a variety of different trading activities unconnected to each other, and all the activities will still weigh in the financial favor of the parties involved. Master accounts also have access to important data such as the performance of each sub-account and total trading fees of all linked accounts combined. While the feature is designed with institutional and corporate clients in mind, on HitBTC any user can create sub-accounts upon request.

The adoption of this feature by more and more trading platforms will be beneficial for both institutional and individual traders. Some users can utilize it to execute different trading strategies or try various algorithms with a clear picture of their effectiveness, others to manage their team and analyze the performance of each account securely and conveniently.

Featured image by Tyler Franta on Unsplash