Digitex Futures was the first 10 X investment I made in 2018, and with only a few weeks left to go in the year, I can’t help wonder if it’s going to be the last, but somehow I don’t think it will be.
If you missed the moment I discovered how big the $DGTX coin would be, you can head over YouTube by clicking the image below and check it here but I’ll save you an hour your life, and cut straight to it.
On August 31st I interviewed the CEO Adam Todd, and during the 1 hour and 12 minute stream I had to register for an account with the exchange Mercatox mid-interview to buy 750k $DGTX tokens. At the time they were 0.015c and my $11,500 investment would soon soar as the token price went over 0.16c on the 14th of October. In just 6 weeks I had made over $108k profit off that investment.
Now this was no dump and pump, the reason for the rise in the price was because of epic utility of the $DGTX token that will be fuelling their futures exchange.
So when the opportunity came up to meet the saviours of my 2018 crypto portfolio in Malta at the Blockchain Summit, I took it with both hands and spent 6 days on the blockchain island, mingling a schmoozing with some of the most impressive people in crypto.
I first bumped in to both Lee Mayne the COO and Adam Todd the CEO at London Heathrow in the business class queue of Air Malta, and we proceeded to the business lounge for a spot of breakfast and coffee before our flight.
It was surreal talking with Adam at first, having only ever spoken once before on that August 31st live YouTube stream. The first thing that struck me about him was his absolute enthusiasm for the Digitex Futures exchange, we had a good chin-wag and touched on how the rise of Bitmex has potentially had a knock on effect that has given speculators a renewed interest in their platform, that was first brought in to the space during their January 2018 ICO. During their ICO they sold out their $5.4m allocation of tokens within just 17 minutes, and shortly after the bear winter of crypto took hold and enthusiasm for the project and enthusiasm in general for the crypto-sphere began to lessen.
As it turned out, I would be seeing a lot more of both Adam and Lee, and in fact nearly the entire Digitex Futures team over the coming week. I was even invited to a few team dinners where I got to know the development team and the customer relations team quite well.
The 3 names that you’ll see pop up quite a lot if you’re in the Digitex Futures telegram group https://t.me/digitexfutureschat are Sona, Dmitrij and Gary. Sadly Gary couldn’t make the Malta trip, but it was good to meet both Sona (who, I’ll be honest I was expecting a bird with that name) and Dmitrij. Sona is a Scotsman which took me by surprise, who was incredibly passionate about all things Digitex, and then there was Dmitrij, a towering Russian with a distaste for YouTubers, or as he kept referring to them “Those fucking influencers” …. to be honest, he could have called me a little bitch and gave me a wedgie, I wouldn’t have argued as he’s a big fucker, but also a good laugh once he warms up (so I’m told)
These guys aren’t just people that are hired to moderate telegram, once the Digitex Futures platform is live, I’m told they will be heading up he entire customer relations division of the exchange, I couldn’t help but think these guys have clearly struck gold bagging these roles. They have probably made more money in DGTX profits than most people in similar roles would earn in 10 years.
I also got to meet the development team from Ireland, and I’ll be 100% honest here, having worked with developers in the past from Russia, Pakistan and Eastern Europe, these guys were a completely different level, and filled me with a huge amount of confidence. To be honest I didn’t go to Malta expecting to meet the entire Digitex Futures team, and whilst one or two faces from their website were missing, I was pretty much there with all of them, and I can tell you one thing right now , this is by far the most solid project in crypto that I have had the pleasure of meeting.
Fast forward a bit, and they dominated the exhibition floor at the Malta Summit, not only did they have the best stand, but it was clear they had the best team, the best product and most of all the best all round vibe about them.
During my time there, I got the first look at the pre-beta software that will be launched by the end of this year, and in the video at the bottom of this page, you’ll be able to see Adam give an overview of what it can do. There are better video, on their YouTube page also ,which you can check out Here.
One thing you can see on their YouTube channel is the evolution of the software from post ICO MVP to present day pre-beta. The UI which was designed by COO Lee Mayne and implemented by a Frenchman with a savage Oi-rish accent by the name of Emmanuel Bourgerie (who had a bit of a mission convincing me that he was French, I wasn’t having none of it, he sounded for too Irish)
Post ICO MVP
Side by side, the two applications hardly look like they have came out of the same development lab, but this is a testament of how serious they are about talking the behemouth that is Bitmex, as they have left no stone unturned, from how they have carefully considered software colours, added more detailed Japanese candle graph, and resized the ladder interface to blend it into the exchange in such a way that you’ll wonder how you traded without one before, and it’s miles apart from the complicated interface offered by Bitmex
Bitmex I find to be quite a complicated interface, and as such it’s put me off wanting to trade bitcoin futures.
I’m not saying I’ll never use Bitmex, in fact quite the opposite, Digitex have made me more interested in trading futures than ever before, so I might brush up on Bitmex skills whilst I wait for the main launch of Digitex Futures.
Now before I move away from Bitmex, you need to understand there’s a lot of speculative hype around Digitex, so let me lay out for you why this is.
First up, there’s the model that Digitex has. It’s a zero-fee platform, so unlike Bitmex who charge a commission when you trade, Digitex only supports the use of the $DGTX token to purchase bitcoin futures contracts, so even though you are trading $BTC futures, you’re using $DGTX to do so.
What this means for the $DGTX token, is that should their exchange rival that of Bitmex, then they will be taking a slice of the daily volume that Bitmex has, which as you will see from this July 25th tweet, is pretty fucking savage.
A new BitMEX (and industry) record: 1,000,000 XBT (> $8BN) traded in the last 24 hours!
— BitMEX (@BitMEXdotcom) July 25, 2018
$8bn daily volume is nearly DOUBLE that of Bitcoins daily trading volume, and nearly 20 times more than the daily volume of Ripple!
This isn’t the only reason people are getting turgid over the speculative price of $DGTX. The UI and concept of a ladder interface for opening and closing futures trades could, and most likely will, tap in to a wider audience of fed up bear market hodlers that are tired of waiting for a bull run that want to take the control of profits into their own hands. With this in mind there’s a good chance that if this is a hit, it could smash the Bitmex daily volume at some point in 2019 which could mean staggering demand and in-turn exponential growth in the price of the $DGTX token.
At the time of writing this article, $DGTX has a market cap of $44m and a token price of $0.063c. This is due to a steep “sell the news” correction and well-coordinated social media FUD campaign immediately after the Malta Summit most likely orchestrated by savvy crypto whale investors that wanted to supress the price giving an entry at 50% below the ATH.
This isn’t an unlikely scenario because if you consider that the daily volume could match that of $BTC if they took a 50% market share from Bitmex, and Bitcoin has a market cap of $109bn the current price of $DGTX is 2400 X apart, and whilst I don’t personally believe that Digitex Futures will one day be the number 1 crypto by market capitalisation, I do believe that it could 1 day be the number 1 “utility token” by market capitalisation one day, and at present that crown is taken by the Binance coin, and at present $BNB has a $1.2bn market cap, and no where near the same utility volume potential of $DGTX, so it’s reasonable to see it somewhere in between. $3bn marketcap by end of 2019?? That’d make it worth $4 per token guys and gals, so HODL this shit, that’s 68 X from the current price
Now you might be asking “is there any other reason for Digitex Futures to achieve this??”
And there’s so much more to the project ,that I’ll have to point you in the direction of the whitepaper, as there’s only so much I can write on the subject in a single day (I have ADHD, it’s a miracle I got this far)
The WP can be downloaded HERE
But the important things to be looking at are the sections about Ethereum, as once plasma is live, the entire Digitex Futures platform will be entirely trustless, non-custodial and lighting fast, making it the easiest, safest and fastest place to trade BTC futures.
To sign up for the BETA version of the exchange click HERE
To buy $DGTX tokens click HERE