Binance, the world’s most popular exchange, has officially rolled out Bitcoin options on its Binance Futures platform.
In a press release, the company said the function is currently available on the exchange’s mobile app.
Changpeng Zhao, CEO at Binance, said:
“Options contract is a much-anticipated product, allowing the traders and miners to effectively buy insurance on their positions and for speculators to take advantage of the market movements as well. There are more features and products in the pipeline.”
Options provide traders the chance to purchase a right to buy (a call option) or sell (a put option) on at a certain “strike price.”
The platform also offers the American version of the derivative, through which traders may execute their rights at any time before or at the expiry date.
As regards BTC / USDT options contracts, traders move their USDT from their spot wallet to their futures wallet. They also choose an expiry date ranging from 10 minutes to one day.
“Profit will be anything from 0 to infinity, and premium is a fixed value paid at start. Thus options have fixed downside cost paid upfront, and unlimited upside. Net profit for your options trade is profit – premium,” Binance stated.
Binance to list Solana
The company added that it would launch a bounty promotion for SOL worth $50,000.
Binance stated on its website that the rewards will be distributed in the form of SOL tokens, and the listing fees would be zero.
Foray into Korea
Binance has announced that it will launch soon a new platform named ‘Binance KR’ in the Korean market.
According to a blog post published on 31 March, the new exchange will be launched on Binance Cloud. It will provide “the market’s deepest spot trading liquidity, most robust matching engine, and most advanced state-of-the-art security, custody, and risk controls.”