Bitget Launches Take-Profit and Stop-loss Features
3 min read
New features aim to protect the trader’s gains of the world’s largest cryptocurrency derivatives copy trade platform
Bitget, a leading global cryptocurrency derivatives exchange with over 1.5 million registered users worldwide, is launching the Take-profit and Stop-loss features of its Quanto Swap Contract.
The introduction of these features powers Bitget traders to ensure they make some level of profit or gains as well as to limit their investor’s loss on a security position that makes an unfavorable move. One key advantage of using a stop-loss feature is traders don’t need to monitor their holdings daily.
Launched in April 2021, Quanto Swap Contract is poised to be a new innovative contract supporting multiple currencies as a margin for multiple contract trading pairs. The Quanto Swap Contract supports several digital currencies as a margin for transactions, including cross-currency.
It helps to improve the operational efficiency of the trader by shortening the digital currency exchange process and reducing transaction fees.
The Quanto Swap Contract also features a Copy trading feature enabling its traders to copy the trades of another trader, thereby automating their investment strategy. Currently, there are over 8,000 traders who are using the copy trading platform, facilitating more than 7 million trades.
This new contract was developed to change the conventional reading method to provide users with more trading options, optimize funds utilization, and earn trading interests and gains from the price rise.
The platform is capable of solving problems faced by traditional derivatives such as USDT paired contracts and inverse contracts in the costs, trading experience, and capital utilization experienced during the trading process.
Moreover, the Perpetual Quanto Swap Contract does not have an expiration or settlement date. Users may choose the currency that the platform offers as the margin and calculate the return according to that currency. The spot price of the contract is anchored utilizing funding rate swaps.
“We are excited to announce the launch of the take-profit and stop-loss features of our Quanto Swap Contract. This contract has been designed to optimize funds utilization and provide Bitget users with more trading options as well as the opportunity to earn trading interests and gains from the price rise. As the world’s first-ever Quanto Swap Contract, we are proud to be the leader in the derivatives market behind this revolutionary launch” says Sandra Lou, CEO of Bitget.
Bitget supports a variety of pairs for major cryptocurrencies such as:
- For BTC: BTC/USD, ETH/USD, EOS/USD
- For ETH: BTC/USD, ETH/USD, EOS/USD
- For EOS: EOS/USD
How to trade Quanto Swap Contract
- Go to the trading page, log in with Bitget ID, and proceed to the Quanto Swap Contract Trading page.
- Before opening a position, users have to add assets to their Quanto Swap Contract Account. It can be done using the Transfer function with no fee for internal transfers.
- Next, open a position by selecting the trading pair, margin mode, order type, and leverage. Then enter the quantity and price and select the direction.
About Bitget
Bitget, established in 2018 and headquartered in Singapore, is a global leading cryptocurrency derivatives exchange. Bitget supports futures contract and spot trading. Currently, there are over 1.5 million registered users worldwide, and Bitget ranks top 5 worldwide with its daily average contract trading volume in July 2020.
Bitget also features a copy trading platform that enables traders to automatically copy positions opened and managed by other selected individuals. To date, Bitget has over 8000 traders joining their copy trading platform, who have opened and closed more than 7 million trades.
Bitget completed a $10 million Series B financing led by the world’s top game company SNK and co-invested by Anlan Capital, and is now valued at $1 billion. Bitget team members have talents and attainments in international cryptography, financial investment, social media, and electronic games, and other fields.
Bitget has listed on CMC, CoinMarketCap and CoinGecko. For more information, visit https://www.bitget.com/en/
The post Bitget Launches Take-Profit and Stop-loss Features appeared first on BeInCrypto.
