BigoMex, a Singapore-based crypto contracts trading exchange, has added crypto options trading to its platform. This options launch, in addition to futures trading, provides traders with a new avenue to profit from the price movement of numerous cryptocurrencies offered on BigoMex.
Options are contracts that allow customers the right to buy or sell an asset at a predetermined price or before the contract expires, according to Investopedia. Options can also be used for speculation, such as guessing the trend of a stock or cryptocurrency asset.
Options trading is simpler than futures trading since users may open a deal with only one button rather than having to set many criteria like take profit and stop loss levels. Users merely push the up or down button accordingly and wait for the round to complete to earn profit, especially on BigoMex.
BigoMex options trading interface
In options trading, BigoMex customers can invest any amount between $2, $3, $5, and $10 USDT with an infinite number of rounds. Each round has a time limit of 120 seconds. Users choose whether they believe the price will rise or fall at the start of the round. Users that make the right choices at the conclusion of the round can profit up to 70% on their deal.
Users on BigoMex can cancel trades with particular refund ratios if the price direction shifts in the opposite direction. The refund percentages range from 80 percent with more than 60 seconds on the timer to barely 20% with fewer than 4 seconds on the countdown. Even if their trade analysis is erroneous, traders can still minimize losses using this strategy.
Options trading on BigoMex is substantially faster than futures trading because each round lasts 120 seconds. Futures trading can go as long as the user wants it to if they are ready to pay the overnight cost. Another benefit of BigoMex options trading is that it has no trading fees, making it simple and quick to implement.
On BigoMex, customers can currently trade options for five crypto assets: BTC, ETH, LTC, XRP, and the newly introduced DOGE. Dogecoin has seen a considerable increase in value in recent months, notably when Elon Musk, the CEO of Tesla, drew attention to it. By using options trading, users can profit from the price fluctuation of DOGE.
Even now, as DOGE has experienced a sharp downturn, it is slightly positive in the recent days and ready to move further up. Regardless of the direction, with options trading users can benefit from both positive and negative price changes.
Options trading results
The trading interface for options is designed to be as basic as reasonable. Users only need to decide how much they wish to invest and whether the price will rise or fall. Users keep an eye on the market action throughout the round and benefit if their analysis is correct.
There is a demo account available for new customers who have never traded options before. Before investing real money, each demo account receives 10,000 USDT to help users become familiar with options trading and establish a profitable strategy.
BigoMex's objective to make trading simple is strengthened by the addition of options trading. BigoMex is a dependable service that continues to innovate to meet market demands as a crypto contracts trading platform licensed by the Accounting and Corporate Regulatory Authority (ACRA) in Singapore and as a Money Services Business by the Financial Crimes Enforcement Network (FinCEN) in the United States.
BigoMex makes it simple and quick to make deposits and withdrawals. In order to react fast to the rapid changes in the cryptocurrency markets, users can log in and begin trading in less than one minute.
A 20 USDT deposit bonus is available to new users who make their initial deposit of more than 100 USDT. For accomplishing certain milestones when trading on BigoMex, active users can receive a bonus of up to 268 USDT.
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