Remember Digitex Futures? The company that’s been promising zero-fee Bitcoin futures trading since the start of 2018?
Well, it looks like its back in business. After a long and winding road, Digitex is launching its public beta tomorrow, November 30, at 2pm GMT.
Third time lucky for Digitex Futures?
With more than one million people on its waitlist and a massive Telegram community, Digitex Futures was riding high. Its native exchange token DGTX went on two mini bull runs in October 2018 and April 2019, bucking the overall market trend.
The company had been forgiven for missing its first highly publicised launch date, and traders were lining up for the exchange to open its doors. With zero fees on every single trade and a one-click trading ladder unique to the crypto industry, the company had a lot to offer.
But on April 26, just days before its promised second launch date, CEO Adam Todd came out with an explosive announcement. The launch would be postponed for a second time.
While Digitex’s colourful leader launched a scathing attack on development team Spotware, he concluded that he took “full responsibility”.
“There are a lot of fu**ing useless developers out there, it’s my job not to hire them,” he raged.
At that point, many people gave up on Digitex Futures. DGTX lost more than 75% of its value in just one hour.
A new development partnership
Adam Todd and his team were called every name under the sun, and many people wrote the project off as a scam. Luckily for Digitex, it made the right decision by partnering with an Ethereum-approved Moscow-based team of real developer talent.
The months that followed saw the company placed under heavy scrutiny. Many people were enraged by what had happened and demanded answers. Digitex stayed true to its word and released bi-weekly development reports, keeping the community informed.
Adam even moved to Moscow full-time so that he could work side-by-side with the developers and expect no nasty surprises this time around.
After what must have felt like the longest year in the lives of DGTX holders, finally, tomorrow, they’ll see for themselves the fruits of the company’s labour.
ATTENTION: We will be putting down the #Digitex #DFE Alpha in preparation to launch our Beta platform. Meaning that the current ‘live trading’ link as well as your login credentials will stop working tonight at 12am MSK. Beta will go live this Saturday at 5pm MSK 🚀🚀🚀
— Digitex Futures (@DigitexFutures) November 27, 2019
What to expect from the Digitex beta
Unlike previous attempts to launch, Digitex has finally learnt from its mistakes. Rather than try to run before it can walk, it is launching with just one market, a BTC/USD perpetual swap.
As a beta, traders will be using DGTX testnet tokens instead of real funds. This means that they can trade as aggressively as they want without fear of losing any real money and also familiarise themselves with the trading ladder interface.
At the same time, they’ll be helping the company to ensure the platform is bug-free and robust by its mainnet launch next year. Closed testing of the beta began a few weeks ago, and the company has received extremely positive feedback.
One of the early testers was ReadySetCrypto’s Doc Severson. As a life-long trader, Doc was especially taken with the trading ladder UI that allows traders to place orders with one simple mouse movement in lightning speed.
He said, “This is what the Digitex interface looks like and this is what every other major professional trading interface looks like. This is the way it should be done and crypto has got a ways to go, and really Digitex is the first pioneer for this as well as being a commission-free futures exchange.”
Other positive comments from the closed testers were about the trading experience. “It’s very addictive to do,” enthused one tester. “When I trade on other exchanges, it’s really not that easy to trade, with Digitex, it’s a simple mouseclick.”
If reactions from the public beta are as encouraging as the closed testing, Digitex may just have a bright future ahead. Although, its supporters would be forgiven for holding a little scepticism given the company’s turbulent past.
Either way, even if it is just the beta, tomorrow will mark a huge milestone for the company that still has so much to prove.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.