Bit.com ahead of the curve with new USD - margined crypto options trading
Bit.com has announced the launch of a best-in-class USD underlying options trading service today, delivering its users a new tool for trading crypto options denominated in dollars.
A leader in the crypto market since its establishment in 2019, Bit.com, the full-suite cryptocurrency exchange, is going further and faster than other exchanges to revolutionize access to options trading.
With the new service off the ground, Bit.com users can now trade options in cryptocurrencies, with the options being denominated in and settled with USD or USDC.
The inconvenient and obsolete days of having to put up crypto as collateral to trade options in a wide range of crypto assets are now over – you just need USD or stablecoin in your wallet and the market is yours.
'In this moment of sustained volatility, our users need an efficient, flexible trading service that gives them exposure to a range of different crypto assets and hedge risk where necessary. That's why we launched USD underlying options trading – to stand out in a crowded market and equip our users to beat the bear market' - Lan, Co-founder and COO at Bit.com.
Lan has highlighted how trading based on total available USD cuts down risk by allowing users to post capital in its most stable form. He also sees this as a market trend that is here to stay.
'There will be wider adoption from institutional investors as a result of this options market scale up, as more of our peers will also begin to offer this as a service. We believe the trading volume will increase 10 fold in 2023, and see this as a trend that will lead to people embracing more altcoin options'.
Furthermore, traders won't have to surrender their hard-earned cash and can use dollars to fund multiple positions.
USD options trading on Bit.com has been two years in the making and comes from a fusion between the exchange's crypto nous and flair for building exciting user experiences.