BitMEX, a cryptocurrency options platform, has partnered with PowerTrade to create options trading.
The cryptocurrency platform offers crypto options margined in Bitcoin (BTC), USDT, or USDC. It is well-known for its high-leverage perpetual swaps.
In addition to introducing trading, BitMEX provides 0% commissions on all options through the end of May. Users will also earn a 20 USDC sign-up bonus if they deposit $1,000 or more and trade with at least one option.
In addition, the exchange will offer instructional materials to users unfamiliar with options trading or the BitMEX platform. Cryptocurrencies, including Dogecoin (DOGE), Solana (SOL), Ripple (XRP), and Binance Coin (BNB), can be traded on the exchange. An announcement from BitMEX:
“Our minimum trade sizes are one of the lowest in the industry (e.g. 0.01 for BTC and 0.1 for ETH).”
Within the cryptocurrency business, interest in cryptocurrency options is only increasing. In the past, the U.S. SEC has received applications from several American stock exchanges, including Cboe, BOX, MIAX, Nasdaq ISE, and NYSE American, seeking to introduce options for spot cryptocurrency ETFs.
However, the public is being consulted regarding the introduction of these products, and the regulator still needs to act on applications. Mike Flood and Wiley Nickel sent a letter to SEC Chairman Gary Gensler and two American congressmen demanding approval of spot Bitcoin ETFs as the U.S. is lagging behind other countries in providing options on cryptocurrency ETFs.
