The Digitex Beta Is Officially Live - Come and Experience it for Yourself
It’s finally here! We feel like we’ve been waiting forever to say this but the DIGITEX BETA IS NOW LIVE! And we’ve taken the decision, together with the development team, to open the doors of our beta exchange to the general public. Yes, really! That means that you can create your very own tester login and try out zero-fee trades using DGTX testnet tokens and our unique and highly addictive trading ladder interface. And you can do it right now! Here’s what you need to get started.
Getting Started on the Digitex Beta
Of course, you may need a little bit more info to get up and running, which is all detailed for you below. You can also watch our how-to video below, in which Adam walks you through all the steps of making a trade on the Digitex beta platform.
Getting Started on the Digitex Beta
To get started trading on the Digitex Beta, you will first need to register for an account. To do this, you can follow these steps below:
1. Use this link to take you to the registration page
2. Enter your name, email, and password
3. Verify your email
4. You should now be able to access the platform
Once inside the Digitex beta, you will see that your account has automatically been credited with 100,000 DGTX testnet tokens. Everyone is starting off with this amount to allow them place many trades and experiment with different strategies.
After registering or logging into your account you will go to the page that displays the BTC/USD Perpetual Swap Futures Market.
The spot price of Bitcoin against the US Dollar is displayed on the left side of the ladder and also at the top of the ladder. We use Coinbase, Kraken and Bitstamp to calculate this spot price.
The Bitcoin futures market is displayed in the ladder and this price closely follows the Bitcoin spot price. Click in the central price column to center the Last Traded Price (LTP) of the futures market. When your mouse cursor is outside of the ladder area the ladder will auto-center.
Bitcoin futures bids and offers move up and down the static central price column. Bids (unmatched buy orders) are displayed in green on the left side of the central price column and offers (unmatched sell orders) are displayed in red on the right side of the central price column. The total number of bids and offers are displayed at the top of the ladder.
When a bid and an offer meet at the same price on the ladder, this results in a matched trade. The Last Traded Price cell highlights blue in the central price column and the number of futures contracts that were matched at this price are displayed next to this price in white. The white number displays the cumulative number of futures contracts that are getting matched at the LTP.
Matched trades are displayed in the panel on the right side of the ladder as they are matched. When the LTP is higher than the previous LTP, the row has a background highlight color of green. When the LTP is lower than the previous LTP, the background highlight color of the row is red. Each row displays the timestamp, order quantity and matched price of each matched trade.
How to place trades
First, select your desired order quantity in the panel at the bottom left of the screen. This is the number of futures contracts that you will buy or sell whenever you click in the ladder. Click on the cog icon to change the values of the buttons.
To place a buy order, left-click in the cell on the left side of your desired price in the ladder. If you are trying to buy at a price that is lower than the current lowest sell offer, your buy order will be unmatched and will join the queue of other bids trying to buy at that price. Your unmatched buy order will display in white in the outer left column of the ladder. Click on this white number to cancel your unmatched buy order.
The total number of unmatched buy orders that you currently have are displayed at the top of the ladder. Click on this total number at the top of the ladder to cancel all your current unmatched buy orders.
To place a sell order, left-click on the right side of your desired price in the ladder. If you are trying to sell at a price that is higher than the current highest bid, your sell order will remain unmatched and will join the queue of other offers trying to sell at that price. Your unmatched sell order will display in the outer right side column of the ladder. Click on this white number to cancel your unmatched sell order.
The total number of unmatched sell orders that you currently have are displayed at the top of the ladder. Click on this total number at the top of the ladder to cancel all your current unmatched sell orders.
When your unmatched buy or sell order is matched, your overall position is displayed above the ladder. If you are Long (you have bought futures contracts) then your position is shown as a positive number in green. If you are Short (you have sold futures contracts) then your position displays as a negative number in red.
When you have an open Position, the price at which you are Long or Short from is represented in the central price column with a green or red border around your entry price.
If you right click in the ladder, the order quantity of your buy or sell order will be exactly the same as your Position size. This is useful for when you have been partially filled on an order and you want to exit the position by quickly submitting a buy or sell order of exactly that amount.
When you have an open Long Position, your potential Unrealized Profit and Loss (PnL) at each price level is displayed on the right side outer column of the ladder. When you have an open Position, your real-time Unrealized PnL is displayed above the ladder. Your Realized PnL figure is only updated when you close an open Position.
When you have unmatched orders, the amount of Order Margin (OM) in DGTX that is locked up by these orders is displayed above the ladder. When you have an open Position, your Position Margin (PM) displays how much is locked up by this Position.
You can select your desired Leverage rate by clicking the Leverage button and moving the slider between 1 to 100 Leverage. This determines how much Order Margin and Position Margin will be locked up by your orders, and it will also affect your Liquidation Price and Bankruptcy Price.
Your Total Balance and your Available Balance are denominated in DGTX and are displayed at the top left of the ladder. Your Available Balance is calculated by subtracting your Order Margin and your Position Margin from your Total Balance.
Your Liquidation Price and Bankruptcy Price are displayed below your Total Balance and your Available Balance. Your Liquidation Price is the price at which the exchange will forcibly take over your losing position and attempt to close your Position.
Your Bankruptcy Price is the price that your Position will be closed at. If the exchange manages to obtain a better price than your Bankruptcy Price the excess gain is deposited into the Insurance Fund.
Your Liquidation Price is displayed on the ladder by this liquidation graphic. Your Position will be taken over by the exchange when the Spot price of Bitcoin reaches this level, not when the futures price reaches this level.
The panel at the top right of the ladder displays the Last Traded Price and Last Traded Quantity. It also displays the 24-hour High and Low of the futures market, the total number of matched futures contracts that have traded in the last 24 hours and the percentage change of the futures price in the last 24 hours.
The panel at the bottom right of the ladder displays the Funding Rate, otherwise known as the Funding Payout (the time when the next Funding event will occur). Also the Tick Value of the futures market and the notional value of one futures contract.
You can switch the color theme of the UI or switch the ladder to display on the right side of the page by clicking on the cog icon at the top right of the page. Click on the menu icon top right to navigate to other areas of the exchange.
To report bugs, make suggestions or ask questions, please contact our support team using the Help button at the bottom right of the page.
Please (please please!) don’t let any bugs go unreported. You’ll be doing a massive service to us in preparation for our mainnet launch by reporting all bugs as soon as you find them.
Didn’t we tell you it would be worth the wait? The zero-fee trading revolution is finally here, and we couldn’t be happier to have you along for the ride!