Although it’s nearly the end of 2018, Q4 continues to bear good news for Digitex Futures. During Malta’s Blockchain Summit 2018, founder and CEO Adam Todd live streamed a demo of the exchange. Conference attendees and online spectators were able to see how the user interface worked in real time.
This positive public display along with a ton of hard work from the team has helped to get the DGTX token listed on another significant cryptocurrency exchange–Changelly. Coming just ahead of Digitex Futures going live, the utility token will be available for trade even more easily.
What Is Changelly?
So, what is Changelly, you ask? It’s an instant crypto-to-crypto exchange. It was developed in 2015 as its own independent company, and presently it is under the leadership of Ilya Bere as the CEO.
The exchange has grown into one of the top crypto-to-crypto services around with 2 million users worldwide, notably among them Charlie Shrem.
Looking through crypto media sources, it seems like Changelly is making partnerships with notable players in the space on a monthly basis. Some of the more prominent names are Jaxx, Exodus, Coinomi, Coinpayment, and Freewallet.
They have also been a positive force in the space by assisting in locating and returning funds stolen in the summertime Bithumb hack valued at $585,000. There’s no question that Changelly is doing its part to help police and protect users in the crypto community.
How Does It Work?
As stated, Changelly is a crypto-to-crypto exchange. Unlike other exchanges, it works as a mediator for traders looking to gain exposure to other cryptocurrencies. The platform uses bots (trading algorithms) to find the best rates on cryptos on exchanges like Binance, HitBTC, and Bittrex.
Simply put, instead of the trader having to do the difficult work of searching the different exchanges, calculating who has the best rate, placing a bid or ask order, and then waiting for the order to be filled, the bots do all the aggregation (searching in milliseconds) and suggest the best rate. And for all that, the transaction fee is only 0.5%.
The completion of transactions takes between 5 to 30 minutes. This may not be as fast as Digitex’s Automated Market Makers but Changelly bots will prove to be a benefit to traders looking for DTGX tokens with minimal hassle.
Traders will be able to swap over 120 different cryptos for DTGX. Registration is easy, you just add an email and create a password. By sending the crypto to an address provided by the exchange, the trader will receive the desired token in the recipient address.
If you don’t have any cryptos, don’t worry. Changelly also accepts credit and debit cards. The fiat will be valued in USD or EUR. There are some limitations when first using this method and there are some KYC requirements. But with more usage, the restrictions are removed. For more details, you can find the answers here.
Changelly offers a customizable API and will provide a payment widget for Digitex Futures, which makes another tool for the kit. This means when you need more DGTX, you won’t have to leave the site to get more. And with enough practice, traders will have no real slow down in their pace when making a trade with Digitex’s one-click trading.
As security is always a concern in the crypto space, Changelly, like Digitex Futures, has a non-custodial policy. The trader sends the tradable crypto and receives the order directly to a wallet they have positive control of. This lowers the chances of hackers stealing funds because there is no storage of funds on the exchange.
This also eliminates the transaction fees associated with an exchange’s custodial wallet.
With the end of the year fast approaching, Changelly listing DGTX is welcomed news all around. It will allow traders to get more tokens without the burden of sitting around waiting for orders to fill. For market makers, this is a more natural way of getting the tokens circulating into the markets. And the custom widget for Digitex can be used by both makers and takers.
For Digitex Futures, this means more brand awareness once it goes live in Q4. In addition to helping lower the barriers to entry for traders looking to take advantage of using the token to make zero fee trades on futures contracts, new and experienced traders will develop creative strategies.
It also goes without saying that with this new listing, the liquidity for Digitex will only grow. And as the founder of Digitex constantly says, liquidity is the lifeblood of the market.