Binance has announced the unveiling of their new feature "options trading" which is available on the latest version of their mobile app. This will offer traders a convinient way to trade options right from their mobile devices.
What's an option?
An option is a contract that allows a trader or investor to buy or sell an underlying asset at a specific price prior to or at a specified date. The buyer isn't obliged to take any action whatsoever, but has the right to instruct the seller to conform to the specification in the option contract within the time frame of the option.
There are two types of options namely call and put options. The call options allows a trader to buy an underlying asset at a predetermined price where as the put options allows a trader to sell an underlying asset. These assets may include stocks, currencies, commodities, cryptocurrencies etc.
Why options?
Options allows traders to explore opportunities to grab asset at relatively cheaper prices leading to a leverage ones investment. It's also can be used as a mechanism to mitigate risk and increase your earnings in your overall portfolio.
Download or update your app
You can also check out list of Countries that can buy cryptos with bank cards in their local currency on Binance.com
