Binance the world’s largest exchange in the world as per the daily trading volume has introduced Bitcoin (BTC) options on its futures trading platform for its users. Having so many successful events earlier in this month, this announcement was introduced on April 13, 2020. Well, this service is limited to mobile application for its users.
Binance offering U.S.-style Bitcoin options
With options contracts, the exchange offers traders with an opportunity to purchase either a right to buy, which is a call option or sell, which is a put option on a given asset at a specified strike price. The exchange is offering this option to American as compared to the European, version of the derivative allowing traders to exercise their rights – i.e. settle the contract at the chosen strike price – at any time prior to or exactly on the same expiry date itself.
To opt for Binance’s BTC/Tether (USDT) option contracts, traders have to at first transfer their USDT holdings from their spot wallet to their futures wallet and to choose an expiry date which ranges from 10 minutes to one day. Being the leading exchange, the exchange gives access to over 90 coins for users to trade. The exchange targets users on global platform and serves 2btc/day withdrawing limit for non-verified users but for verified ones, this limit increases to 100 BTC a day. To know more, you can always call on Binance support phone number which is always functional and the team is ready to start you.
The exchange presented a note for traders where it clearly mentioned that a fixed value premium must be paid at the start, implying that any prospective profits on traders will be net, i.e. profits minus the premium. The exchange said that there will be no guarantee that your options purchase is going to execute at a profit when the premium has been deducted. Though most of the options purchases are not going to be profitable but a few will be profitable. The exchange advised to use it at own discretion.
Options contracts in the crypto space
As it was already mentioned that the Malta-based exchange OKEx has introduced Bitcoin options trading for a select group of traders in December 2019 ahead of its public launch in the beginning of this year. In addition to that, Chicago Mercantile Exchange Group announced its plan to launch an options product for Bitcoin futures back in September, though later on it indicated that it was predicting high demand in Asia in particular.
To know more, you can always have conversation with the team experts who are there to assist you. Call on Binance support number which is always active and the team is ready to assist you. Connect with the team members anytime for availing result-driven remedies that are easy to execute. You can always have conversation with the team members anytime for availing quality-driven remedies which are easy to execute. Connect with the team anytime for providing quality-driven remedies in no time.