Digitex: Zero Fee Bitcoin Exchange
Zero fee exchange? Impossible right? I actually knew an exchange startup with zero fee trading. I think it’s gone now since they couldn’t make profit. Well, it was done before China’s ban on crypto trading in CNY-based exchanges. They made income through wash trading though.
So how does Digitex make income? I think it is possible because they are slowly selling tokens they have minted. This is how they are able to provide zero trading fees. And the trading pairs are usually against the their token, DGTX. You must have DGTX to trade. Your profit are in DGTX tokens.
Anyway, zero fee trading is awesome because it allows you to make market orders at the tightest spread possible without losing money to fees. Actually, I know of two exchanges that pay you rebates to make limit orders but making limit orders all the time is hard, expecially when there is strong volatility.
At first impression, I wondered how does one place an order, there was no usual buy/sell buttons to use. It was before I knew that ladder ordering feature. I have been trading on countless number of exchanges. It is certainly one of its kind. I figured out how to use it in the end. The default placement of the chart in the interface layout is weird. Usually exchanges put the chart on the top left of the interface. Anyway, you can easily change the layout with a click on the gear button.
Interested in free bitcoin mirror trading?
One thing I don’t like is the $5 increments in the ladder ordering system. Exchanges usually allow to a dollar or even to 50 US cents. I don’t like it especially when you trade the 1-minute charts and also when there is low volatility, it’s very hard to profit quickly since it will take time before your order is filled. I guess that’s the catch of zero fee trading.
Take note though, the exchange is still in beta so not everyone can use it. But you can try out the testnet version.