As a new trader, those complex trade values will inevitably mess up your desire to make money soon after you first started with cryptocurrencies. I fully understand this feeling of urgency, let me tell you about the investment history of a friend, John.
When John first started trading digital currencies, he only traded spot BTC, thinking that he only needed to buy and wait until the price rose to sell and everything would be fine. It was as simple as planting a tree. Soon it was discovered that BTC fell sharply. Yes, John was deeply trapped. After waiting for several months, he finally waited until the price increased by 10% before selling. After deducting the transaction fee, he discovered that he did not make much money. Most importantly, he lost a lot of time cost and opportunity cost. I want to know if anyone feels the same way.That's right,John is you and me.
You’ve probably heard the phrases”what goes up, must come down” and “all good things must come to an end”when someone talks about the end of a bull run in the Digtal Currency market.
Both of these statements infer that your investment can only increase in value when the market rises. But if even if the market is bearish, what are the possible ways for you to make money? It turns out that there is. One of these methods is called a put option.
What is a put option?
Simply put (pun intended), a put option is a contract that gives the option buyer the right--but not the obligation--to sell a particular underlying asset at a predetermined price, known as the strike price or exercise price, within a specified window of time, or expiration.
Buying put options can be a way for a bearish investor to capitalize on a downward move in the underlying asset. Those who wish to make profits faster can use the option trading market.
How to Buy a put option？
A common question you often see on social media from crypto beginners is “Where can I trade option?” Well, you’ll be happy to hear it is actually quite a simple and straightforward process.
STEP 1: CREATE AN ACCOUNT ON AN EXCHANGE THAT SUPPORTS OPTION TRADE
First, you will need to open an account on a cryptocurrency exchange that supports option trade.
I recommend the following based on functionality, reputation, security, support and fees:
In order to sign up, you will need to enter some basic information, such as your email address, password, and phone number.
Note:You don’t need to worry about be asked for identity verification or KYC（Know Your Customer）.
STEP 2: DEPOSIT FUNDS INTO YOUR ACCOUNT
BIGOMEX cryptocurrency exchanges will allow you to purchase USDT with fiat currencies, such as IDR, USD and others. Furthermore, they will also provide you with multiple deposit methods through which you can fund your fiat account, such as credit and debit cards, ewallets or direct bank transfers.And you need make sure your bank account that is also connected to internet banking.
This process is similar in almost all cryptocurrency exchanges. The exchange will then calculate the equivalent amount of USDT based on the current market rate.
Note: Some payment methods will have higher fees than others, such as credit card payments. Before funding your fiat account on your chosen exchange, make sure to do your due diligence to find out the fees involved with each payment method to avoid unnecessary costs.
STEP 3: BUYING OR SELLING PUT OPTIONS
All you have to do is find the OPTION button,and select asset pairs witch you liked.Waiting for the bar to reach the high point, when there is a downward trend,and choose the amount of the fund that you want to spend for put option trade.The minimum amount of each transaction ranges from 2USDT to 10USDT, and there are four gears.
BUYING TIME&SELLING TIME
You only need to predict the trend and find the place to buy the put option. The system will automatically close the position after 120s. If your forecast is accurate, you can get up to 80% of the profit.BigoMex’s option ratio is much higher than other similar options trading platforms,which means you make more money with lesser risk.
For more in-depth instructions of trade option operation, the “Option Beginner’s Guide“ will take you through the process step-by step.
*Option Fees：0
BigoMex charges ZERO fee for Option trading.
*Cryptocurrencies available of option trade&ratio：
*sign-up bonus (BGM)：500BGM
What is BGM?
BGM is a token launched by BigoMex in order to better safeguard the interests of users, reduce user risks, and bring a better trading experience to the users. BGM can be used for deduction of trading fee(1USDT=100BGM), deduction of losses(50%)
NOTE：BigoMex is licensed by the Financial Crimes Enforcement Network of the United States (FinCEN) and the Accounting and Corporate Regulatory Authority of Singapore (ACRA).
Therefore, trading options on BigoMex becomes a good choice, because you only need to use a small amount of funds to trade options and get guarantees from a platform licensed by the regulator.
