November 16, 2023
By Anjali Kochhar
Strike Options is a new derivatives trading option that Crypto.com has added to its app. It enables US customers to employ short-term binary options to speculate on cryptocurrency prices.
With the start of its new derivatives product, Strike Options, Crypto.com has expanded its trading offering significantly. This service is designed for individuals who want to forecast token price movements and maybe profit from them. It is currently available through the Crypto.com App.
Users of Strike Options determine whether the price of an underlying asset, such as Bitcoin (BTC), will rise over a fixed strike price at the option’s expiration date using a binary framework. This method is reduced to a “Yes/No” option, providing a more straightforward method of trading derivatives.
If you select “Yes,” you’re placing that the asset’s price will rise over the strike price; if you select “No,” you might be anticipating a fall. Users can also choose to exit positions early, which is a flexible option that can be very helpful for controlling risk or making profits.
The product’s contract durations are fixed at 20 minutes. $10 is the admission requirement. Nonetheless, the organization points out that the hazards associated with fast-paced, leveraged trading should not be overlooked.
Strike Options also allow users to speculate on rising and falling markets, offering chances in a variety of market scenarios.
With intentions to increase its asset base, this Commodities Futures Trading Commission (CFTC)-regulated instrument is now offered for Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH).
About the author
Anjali Kochhar covers cryptocurrency stories in India as well as globally. Having been in the field of media and journalism for over three years now, she has developed a sharp news sense and works hard to present information that goes beyond the obvious. She is an avid reader and loves writing on a wide range of subjects.