Bitget — Understanding the Derivatives Trading Tools on the Platform
In recent years, Singapore has emerged as a global hub in technologies such as cryptocurrencies and blockchain. Singapore offers a balanced regulatory and legal environment for cryptocurrencies, which is why the country boasts of several innovative establishments branching out. One such platform is Bitget — established in 2018 and touted as the world’s largest crypto derivatives copy trade platform.
Globally-focused cryptocurrency exchange, Bitget, boasts of having both futures contract and spot trading. The platform is already flourishing with about 1.5 million registered users worldwide and a top 5 worldwide ranking. In July last year, Bitget completed a US$10 million Series B financing led by top game company, SNK, and was supported by Anlan Capital. The valuation now stands at a whopping $1Billion US.
What is Bitget?
It is simply a Singaporean digital asset trading platform but moved into contract trading in 2019 and launched its first USDT and inverse contracts. Bitget became a global trendsetter because it had both USDT and inverse contracts. It is also credited with being a complete contract-currency platform with seven USDT contract currencies and 6 six inverse contract currencies. The platform also offers a mobile app available on Android and iOS which allows users to access its exchange from anywhere in the world.
Bitget Perpetual Contracts: What are they?
Bitget’s main focus has been providing trading services of perpetual contracts. They are derivative products that are akin to traditional futures contracts but have some differences. Perpetual contracts as a whole have no expiration dates and place no restriction in terms of contract position.
The exchange places immense importance on its perpetual contracts which is why it has given a lot of consideration to its development. Investors have the option to buy a long-term commitment or sell short contracts in order to earn a virtual digital currency gain. They function similarly to the margin-based spot markets as their price trades close to whatever the underlying asset is.
Bitget offers and utilizes the funding cost mechanism to see to it that the underlying price index is tracked. It also uses the maker-taker pricing system for its derivative products. The platform is a great fit as it offers transparent operations with the exchange providing monthly operating reports with disclosure of platform data indexes on a timely basis.
Quanto Swap Contract
Bitget has several features that allow traders to make gains and limit their losses on a security position. With this stop-loss feature, traders do not have to undergo the trouble to keep an eye on their holdings on an everyday basis.
The Quanto Swap Contract was launched this year in April and is a contract that supports multiple currencies as a margin for multiple contract trading pairs. The new contract helps in augmenting the operational efficiency of the trader because it shortens the digital exchange process and automatically reduces the transaction fees.
Quanto Swap Contract has a copy trading feature that enables its traders to copy the trades of another trader. This way the traders automate their investment strategy. Around 10,000 traders are currently using the copy trading platform, which is equaling over 8 million trades.
This way, the users can get deviated from traditional methods of reading for better trading options, utilization of funds, profits from price rise, and better trading interests. Several traders experience many problems, and this platform is a solution for all issues concerning the trading process.
The Perpetual Quanto Swap Contract also does not have any settlement or expiry date. Users can choose the currency the platform offers as the margin and then calculate the return based on the currency chosen. The spot price of the contract is fixed with funding rate swaps.
The new contract will go a long way in optimizing fund use and give users better opportunities to earn big. It is the world’s first Quanto Swap Contract and Bitget, being the leader in the derivatives market, believes the benefits will be great. Bitget has already been listed on CMC, CoinMarketCap, and CoinGecko.
