Digitex Launch Party! Interview with CEO Adam Todd

[00:02] 200,000 subscribers on YouTube since starting in January 2018. As if that weren't enough, they also have over 25,000 followers on Twitter. These guys have featured some of the biggest names in crypto including Anthony Pompliano

[00:17] in crypto including Anthony Pompliano and Binance CEO CZ. For our final chat of our launch live event, please welcome Aaron and Austin Arnold, brothers and hosts of Altcoin Daily.

[00:29] Adam. Uh one health Yeah, all right, mate. How's it going? course. You guys have been streaming for hours, right? You need a water and a What I I'm not allowed to drink too much water cuz then, you know, that's can't

[00:44] drink water. Cool. So, um our channel's called you about the coin associated with your exchange, but I want to hear all about it. Uh like Andrea said, you know, our channel's meant for the everyman, just

[00:57] regular people. So, make sure, you know, keep things simple. We're not pro traders here. But, let's get right on into it. Um so, the uh Digitex token, correct me if I'm wrong, it's a utility token that enables users and owners to

[01:10] buy and sell futures contracts without paying transaction fees or any other hidden fees. Is that correct? Correct. Yes. How that How that works is um so so we got we got we got two things. We've got the futures exchange

[01:25] exchange and we've got the Digitex token. Now, what what happens is to use reason you want to use the Digitex futures exchange is because there's no

[01:37] fees and it's very liquid and it's very easy to use. To use that, you have to have the Digitex token. The The only accepted currency in the Digitex futures exchange is the Digitex token. So, that that creates that utility and that

[01:53] demand for the token. And that that demand is what allows us to sell a small number of tokens through our ongoing public token sale and that funds the futures exchange's operations. So, it's those two things working together. Um

[02:08] the Digitex token is is really the lifeblood of the Digitex futures exchange. It's It's what makes everything possible. Interesting. So, how many Digitex tokens does a trader or user need to take full

[02:22] advantage of the exchange? Um well, currently one futures contract will cost you about 224 Digitex tokens to buy or sell, but we do have leverage. So, at 10x leverage, that

[02:38] means you would only need a tenth of that. So, you would only need 22 Digitex tokens. Um at 25x leverage, you're really only going to need 10 tokens to buy or sell one futures contract. So, if you want to

[02:51] just be a small trader trying it out with one lots, you know, 10 Digitex tokens is really is really all you need. Um you know, one lots is going to be a even when you're playing and testing, you can go a little higher than that.

[03:05] But, really with, you know, 100 or 200 Digitex tokens, you know, you can you can start using the exchange. Do professional traders ever 100x or is that just uh fun fun thing exchanges add?

[03:19] Um personally, I I have I avoid leverage. Um I think I think a lot of the the professionals do. It just It just brings in added risk really of of getting blown out. Um but, you know, having said that, as long as as long as

[03:35] you are trading very carefully, as long as you are scalping and getting out very quickly, you know, you you can you can do the higher the higher leverage. But, um if if you if you don't want to get blown out regularly, you you should

[03:48] probably avoid the 100x. Of course. Of course. So, besides trading, what are your thoughts on the Digitex token as an investment for non-traders? Um as it Well, it's it's primarily it's

[04:01] primarily a utility token for traders. You know, as as as I said, it's it's it's the vehicle through which you can buy and sell futures contracts with with no fees at all. Um but, you know, as as we showed this month, you know, we we

[04:15] started onboarding the first significant number of people at the start of of July and the token went from 4 cents to 12 cents and and it's still there now. It's you know, it's stuck at that level. So, you know, the the theory that more

[04:29] demand for the token, which will increase the price, is holding up. And so, as an investor, you know, you you've got to look at you know, look at the kind of comments that we've gotten today off off the the guys the guests that

[04:44] I've had today. You know, you can see that this is a very genuine product that that really has legs and that we we really have big plans to promote that. So, as an investor, the Digitex token, you don't have to trade with it on the

[04:57] futures exchange. You as an investor, it can be a solid investment, which is really just a play on how good you think we're going to market what we've built. think there's there's really no doubt there that it is great, that people love

[05:12] it. How well are we going to market it? How well are we going to get people on there? Are we going to get 100,000 traders on there? Are we going to get half a million traders on there or a million? If you believe that we are,

[05:24] then the Digitex token is a very solid investment for just you know, your regular investor hodler type. Right. Right. I guess the risk is that, to the exchange, then the token might not have as much value. But, you know,

[05:39] if you do all this marketing and people do want to use the exchange, zero fees, obviously that token is going to be worth more. Exactly. And And the beauty is what we're selling is not a hard sell. It's

[05:51] very easy to go to people and say, "Use my product for free and don't pay me sell something like that. That's the beauty of it. And when, you know, when you combine that with good content marketing, um it's it's not that hard to

[06:06] convince people to give it a try. So, you know, I think we it does have it is going to get a lot of traction and um you know, it is it is going to get the users. Right. And that might be hard for some

[06:19] people to wrap their head around, I think. But, we saw something similar think. But, we saw something similar happen with Binance and BNB token. Um is that a good way to think about it or no? I know it's different.

[06:31] different in a way because that that just offers you a discount on fees. So, really it's just a different way to pay. Um but, it does offer you a discount on fees. So, it does have some value. And yeah, I mean, Binance started off at 10

[06:46] whatever it went up to because the exchange was popular and it was it was a good exchange. You know, it We're starting off at 10 cents now. We I mean, gotten to 10 cents. So, we're we're at a 1,000% ROI right now. But, I I don't I

[07:03] consider this to be the start now. This is This is the day, literally the day is the start line for me. This is the start. The 10 cent token um Binance went from 10 cents to $40. I don't see why the Digitex token can't do

[07:18] I like it. I like it. So, we're actually live streaming on our end as well. So, audience. Would you mind going to a quick uh audience questions from us? All right. Um is the is Digitex's success dependent

[07:34] on Ethereum scaling and Ethereum scaling proof? your token dependent on Ethereum scaling? I I don't think so. No, cuz the you know, the Ethereum works for for our

[07:50] purposes, Ethereum works just fine now. You know, you want to send in a deposit of Digitex tokens. We're centralized exchange, remember? So, yeah, it takes, you know, 15 second block time and you might have to spend, you know, 20 or 30

[08:02] cents on that transaction, but that's not a deal breaker. You know, people can handle that. You You're making a deposit once every, you know, well, some people withdraw forever. So, you know, it really isn't

[08:16] I don't think Ethereum's success Ethereum 2.0, it's not critically important that that's a major success for for us to be successful. clarifying that. Um we have one more. Um

[08:30] What coins do you like besides Digitex and the The obligatory question, besides Bitcoin and your token, what coins do you hold or are you a trader first? yeah, to be to be honest with you, I I really don't hold many tokens. My my

[08:46] interest in cryptocurrency is the fact that you can trade them. For me, the the absolute best use case, as I said earlier, the best use case for gambling. They were They were just perfectly made for that. Everyone

[09:00] going to save the world and bring world peace and they're going they're going to things with the blockchain. And that's great. But, for me, it's trading and gambling. Trading and gambling is what it's all about. So, my only interest

[09:13] really in tokens is that I can trade them. I I don't really look at the the fundamentals of other tokens. But, if if I if I had to reply on that, I would say it's probably the Dai, you know, the the

[09:25] the stable coin that isn't backed up by anyone. Like a decentralized kind of stable coin that that uses, you know, the those collateralized debt positions to to maintain itself as a stable coin. I think that's my favorite one. I like

[09:39] Now, you mentioned that you guys are going to obviously market this. Could know, your plans for marketing this and bringing traders into the exchange? Uh absolutely. I mean, um we're we're

[09:53] predominantly a content market. I I Digitex is really a content marketing company that that's got a cryptocurrency really. That's the way I see it. You know, we're we're we're very we we're getting very good at content marketing.

[10:05] like this whole setup. We're I think we're just going to turn this into Digitex TV. I think there's no reason to stop this. So, I think we're just we're going to try and take cryptocurrency mainstream. I really do think that, you

[10:19] got, I think this is ready for mainstream. Somebody needs to take crypto mainstream. I think Digitex is the company that's going to do it. And we're going to do that through effective storytelling, through effective content

[10:32] marketing, um you know, just just very creative ways to to you know, just just follow through with with with you know, and the marketing you know, influencers. We're going to we're going to constantly invite the best and the most influential

[10:47] invite the best and the most influential guests onto our shows, onto our blog. Um just just various different ways that we're going to market this. Um but mostly content marketing. I think that's key. I mean, personally,

[11:00] coins that are going to do the best in this upcoming bull market will be the coins that have the market. Exactly. And and the other thing you talking about the specific strategies we've got for marketing. You know,

[11:14] another one really a really effective marketing is word of mouth. It's creating a great product that that actually works, that that people love, and they they can make money on because when they make money, they tell all

[11:28] just they're very interested in in how Joe is suddenly just making money sitting at home. And, you know, that that's a very interesting story. And that's a story that, you know, our own traders go out into the world and tell

[11:42] to whoever will listen. So, just just having a great product as well is is really, you know, a a major part of the of the marketing strategy, too. Right. So, make sure you know how to trade and understand money management before

[11:55] any sob stories, right? We only want people to have a good experience. Right. I mean, the the thing with the the the tricky thing with with trading is is like anything else. To to get good at it, you've usually got to make

[12:09] mistakes. So, the the best idea is is don't put the rent money in there on the first day, you know? Just just start off small. You are going to mess it up occasionally, and that's okay. If if it's just very small numbers, you know,

[12:22] if you get it wrong and you lose $5, it's not the end of the world. You know, make those mistakes by all means, but just make them small. And then once the mistakes become less frequent, then build it up after that, yeah.

[12:35] Right. Um any audience questions? Adam, how does Digitex make money if there are how does Digitex make money if there are no trading fees? no trading fees? All right. So, I covered that one a

[12:48] to your users. No, it's No, it's fine. I don't mind repeating it because it needs people are like, "Hmm, I'm a bit suspicious about this." So, so Digitex is is is two things. There's the futures exchange and there's the cryptocurrency,

[13:03] the the Digitex token. And the Digitex token is really what supports the the futures exchange. And the futures exchange is what creates utility and demand for the token. So, it's by, you know, cuz because traders on the futures

[13:17] exchange need to have the Digitex token in order to use the futures exchange, which they want to do because they it's free trading and it's very liquid. And that that demand for the token allows us as a company to sell a small number of

[13:32] Digitex tokens per year through our ongoing token sale on our website. If you go to our website, there's a permanent ongoing very transparent public token sale going on where you can buy Digitex tokens at a

[13:46] We're not we're not undercutting the exchanges. We're not driving the price down. So, those sales of Digitex tokens from our website are what funds the Digitex futures exchange, meaning that the futures exchange itself does not

[14:01] have to charge volume-based transaction fees like everybody else does. The the futures exchange can just operate completely free because it's the sales of Digitex tokens from our website that is funding that.

[14:14] I love it. This is a very exciting time. I'm excited to check it out for myself. unfortunately. Is there something about the token or something that you wanted run out of time? Um what apart from go ahead and buy it?

[14:31] ahead and buy it. Right. There you go. Um yeah, I mean, I it's it's current utility is as um the vehicle through which you can buy and sell futures contracts with zero fees. Um we we've discussed that it it has

[14:46] Um we we've discussed that it it has value and appeal for investors, too. Um but we also have a big big plans to introduce new products that are similar to the Digitex futures exchange in that they have no fees, they have no house

[14:59] edge, other trading and gambling products like they're a poker room, casino, all these prediction market, forex. And these will also mandate the use of the Digitex token. So, you know, if you think, you know, you look at what

[15:13] the Digitex futures exchange has done to the price of the Digitex token, what will 10 other similar products that are built just as well with just the right the same marketing with the same team behind them, being, you know, built and

[15:29] marketed, you know, synergistically? Is that Is that a word? Synergistically? What effect is that going to have on the demand for the Digitex token? So, this is just the start, you know? This is the very start of the Digitex journey. It

[15:44] it seems like I've been saying all this for the last couple of years cuz cuz I kind of have. But this isn't, you know, this isn't the finish. This is just the I love it. And I like the fact that you're a guy who puts himself out there,

[15:57] the the trials and tribula- tribulations. You're man of the people, pretty much. Yeah, I guess I guess so, right? Yeah. saying that. Thank you. Yeah, of course. I mean, end of the year Bitcoin price

[16:12] price prediction? End of the year Bitcoin price Oh, I got Um It's not You're not in it for that. You're in it for the trades. Right. I I don't know. I'll I'll pick a number. I I I think I think Bitcoin

[16:26] could go to 100,000, 200,000 in my lifetime, maybe more. I don't know what it's going to be at the end of the year, but overall, I I would be very bullish on Bitcoin. I love it. I love it. I'm bullish on Digitex. Um

[16:40] How long have we been going? We've gone 22 minutes. We've gone 22 minutes. I There you go. Uh-huh. Well, um I mean, you can go over another couple of minutes if you have another question, but I think

[16:54] Yeah, we do. Um what's what is the biggest challenges do you anticipate with growing exchange? And is it regulatory? Biggest challenges growing exchange and is it regulatory challenges? Oh, I I

[17:06] should have cut you off before that last question, SHOULDN'T I? regulatory. No, I think the biggest challenge with building an exchange is

[17:18] is the marketing and it's the market making. It's They're they're two things that are very um they're more of an art than a science. And it's very difficult to find people that are good at both. It's It's It's

[17:32] hard to find a company that can do both well. Uh some companies do, and they're the companies that go up to the top. Most don't. So, I would I would say those are the two biggest challenges, and, you know, they're two things that

[17:44] we we really do have right. I love it. Anything else? Um besides the Bitcoin trading pair, what will be the next Oh, I'm getting Oh, I understand. I getting something in my ear now saying we we got to wrap it up and move along,

[17:58] but I really appreciate you coming on, mate. Um thanks for the questions. They your audience for tuning in and watching. And um we'll be in touch soon. Good show. Thanks. Thanks, mate. Thank you. Cheers. Bye. Bye.

[18:12] All right. All right, then. So, uh I'm I've lost track with how many winners. or Winners. Uh before we talk about our winners,