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RE: Bitcoin Market Update, Thursday October, 4th 2018.
Hey there @bait002 nice to meet you! Yeah the market doesn't lend itself well to day-trading these days, I personally only take long swing trades, don't like the complications that come with day trading :D
TIMM is a mentor market where you can follow mentors and buy coaching services from them etc. It's developing slowly but I am one of the mentors of the platform.
Never heard of Digitex X, do they only trade futures?
Yes they only trade futures; their model is why I'm paying more attention to futures trading lately since they do not charge any fees at all. About TIMM, would you mind hooking up on discord?
Sure, here's a link to my community we can chat there:
discord.gg/KrPEday
I really doubt it dude, they're a business so they have to make money somehow, typically these "fee-less" exchanges make their money on the spread which is basically a hidden trading fee.
Talk to you soon :)
They use their native token to generate revenue. Traders on the platform will collectively propose how many tokens is to be minted for that purpose. It's like token issuance stroking out transaction charges.
So they sell tokens to traders as trading fee, is that correct?
I googled Digitex X and one of the first results was a shady video referencing Bitconnect... I would stay away from that project if I were you, I smell scam.
No, the token belongs to the trader and that's the native instrument to be used for trading futures on their platform. Besides, that's not a new thing with exchanges; Binance for example. That video is an independent review. Why not look at official papers such as their white paper and press release.
But can you trade without buying the tokens?