Overview
BitCoke presents itself as a Hong Kong based crypto exchange registered in the Cayman Islands - tailored to professional traders, it offers derivatives, spot markets, Quanto swap, mobile access, an OTC desk and more. The positioning is simple - a serious setup with performance at its core.
| Launch | 2019 |
|---|---|
| Focus | Derivatives first with spot markets and OTC desk |
| Signature feature | Quanto swap - use BTC, ETH or USDT as margin to trade contracts across models |
| Access | Desktop and mobile with synced layouts and orders |
| Typical fees | Maker around 0.02% - Taker roughly 0.03% |
| Current status | Activity appears low - volume and reserves untracked |
Who built it and what it does
BitCoke debuted in 2019 with a clear intent - go heavy on derivatives. The team rolled out a trading engine aimed at top tier liquidity, cold storage asset isolation and proprietary charts for pro traders. Quanto swap became the standout tool - you pick margin in BTC, ETH or USDT, trade contracts across pairs and settle back to the same asset. All of it syncs across desktop and mobile so charts, layouts and orders stay aligned.
Quanto swap and advanced trading
Quanto swap is not everyday jargon. Picture this - you hold BTC but want to trade ETH futures. With Quanto you post BTC as collateral, open ETH contracts and settle in the BTC you deposited. No conversion overhead. It is nimble and flexible - a fit for traders who juggle futures while keeping a core bag intact.
Fees, OTC desk and liquidity
Costs are sharp for high frequency use. Maker sits near 0.02% and taker near 0.03%. The OTC desk helps large tickets by avoiding slippage and handling direct execution. Liquidity looked solid in marketing, yet recent signals mark the venue as untracked and perhaps inactive, so treat claims with caution.
Mobile and multi terminal support
You are not tied to a laptop. The platform supports Android and iOS with synced layouts across devices. Charts, positions and alerts match whether you are on desktop or phone - thoughtful for fast markets.
Safety, withdrawals and flags
Security claims include cold storage and broad protections. Still, caution is warranted - in November 2022 withdrawals were suspended during a police probe involving the CFO. Since then access has been spotty and several trackers mark it inactive. That is a red flag for continuity and trust.
Assets and market status
At one point the exchange listed Bitcoin, Ethereum, EOS, Bitcoin Cash and Litecoin across spot and futures. Today public trackers show an untracked listing and no visible reserve data. The stage is quiet.
Token utility - COKE token
BitCoke launched COKE as a platform, governance and reward token with a max supply of 1 billion and initial circulation in the tens of millions. Holders get fee discounts, launchpad access and yield offers. There is a burn mechanism where 33% of fees go to buy back and destroy COKE - a deflationary tilt in theory.
Strengths & Weaknesses at a glance
| Strengths | Weaknesses |
|---|---|
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The takeaway
BitCoke was engineered for professional trading - speed, leverage products, smart tools and deep liquidity. Quanto swap and the fee schedule give it a pro trader edge. The current picture is murky though. The 2022 withdrawal halt, untracked listings and thin signals suggest a platform that faded. If it returns, it could be impressive. For now it feels more like memory than a live venue. Explore only if you know the backstory and the risks. For active trading, more stable and transparent exchanges are safer picks.