BitCoke Quanto Swap Review for Beginners

BitCoke first went online in late 2019 and has since grown into a premium online trading platform, which has now become the first to offer a Quanto swap exchange in the crypto space. The Hong Kong-based exchange is bringing revolutionary technology to the space, with a high-performance trading engine, impressive liquidity, and cold storage asset isolation. The Quanto swap means you can “support any crypto as a margin to conveniently trade all contracts available.”

What does the BitCoke platform offer?

As an innovative platform appealing to veteran traders, BitCoke’s Quanto swap has become one of its most important assets, offering perpetual contracts that solve the disruption of coin conversion in futures and perpetual trading. The development team have worked hard on the site interface, catering to traders who are keen to see the hard data while providing a unique trading experience. 

To learn more about the ins and outs of trading on BitCoke, we deposited some ETH and decided to play around with some leveraged trading. We should mention that new users can take advantage of $115 worth of rewards for signing up and depositing funds for the first time!

Quanto swap trading

BitCoke users will be pleasantly surprised by the simplicity of the Quanto swap contract exchange, offering a mechanism not dissimilar to futures trading on traditional finance platforms, but with some slight differences. Users can trade using USDT/BTC/ETH as a settlement coin to leverage contracts, thereby reducing trading costs. Quanto swap enables users to work with over 50 cryptocurrencies, with a margin to leverage trade perpetual contracts, to which profit and loss are settled as well.

So, with funds loaded into our BitCoke account, I used an ETH contract to open up a SOLUSD position. A smart position and one which fortunately paid dividends quite quickly. Now, the great thing about BitCoke is that the profits we made from the position were paid straight to us in ETH. This is the unique thing about the Quanto swap and what separates it from other USDT-margined contracts - it cuts out the costs of exchange fees and allows you more time to search for other trading opportunities. The convenience of trading with Quanto swap is what really stood out throughout the trading process. 

After that, we decided to take a future position on ADAUSD, which can be held without any settlement date. BitCoke allows traders to hold positions for a longer period of time than other perpetual trading platforms. Quanto swap perpetual also provide up to 100 times leverage, abling users to adjust leverages according to their own risk tolerance after an order has been filled. This flexibility is another aspect of the platform that really separates it from leverage exchanges. 

When compared to other contract types, like linear and inverse contracts, BitCoke’s Quanto swap is a kind of inverse perpetual contract, supporting both BTC and ETH as margin. Quanto swap also encompasses aspects of a linear contract, by accepting USDT as a settlement coin. 

Closing Thoughts

BitCoke empowers traders to explore inventive new trading strategies like hedging the value of Bitcoin and Ethereum when predicting a dip in the market, or taking short positions on weaker altcoins contracts using ETH as a settlement coin. 

Leverage trading always comes with a risk, but the high reward aspect of it is what keeps bringing users back to BitCoke. Quanto swap will stand out for its innovative features and flexible trading experience, all backed with an extensive range of coins. 

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