Crypto.com is launching a new crypto derivatives product for its U.S. customers through its smartphone app.
It enables short-term, binary options trading for U.S. customers to speculate on cryptocurrency prices. With the launch of Strike Options, a new derivatives product, Crypto.com has significantly expanded its trading offering.
This function, which can now be accessed through the Crypto.com App, is designed for individuals who want to forecast changes in token prices and make money from them.
If you select “Yes,” you’re betting that the asset’s price will rise over the strike price; if you select “No,” you might anticipate a fall. Users can also choose to exit positions early, 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 bet on rising and falling markets, offering chances in various 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).
