Binance, the biggest crypto exchange, now lets everyone sell Bitcoin options. This is a big deal because before, only buying options was available to regular users.
What are Bitcoin Options?
Options are like contracts. They give you the right, but not the obligation, to buy or sell Bitcoin at a specific price by a certain date. A “call” option lets you buy, and a “put” option lets you sell. Think of it like betting on whether the price will go up or down.
Selling Options: Making Money (and Maybe Losing It)
Now, Binance users can “write” options, meaning they create and sell these contracts. The buyer pays a premium upfront – that’s your profit if they don’t exercise the option. But, if the price moves against you, you could lose big. It’s a riskier strategy but potentially more profitable.
Binance’s Expansion
Binance says this opens up “more flexible and strategic trading opportunities.” To sell options, you’ll need to upgrade your account. For now, only Bitcoin options are available to everyone; others (like Ethereum, BNB, XRP, Solana, and Dogecoin) are still limited.
Other Crypto News
- Old Bitcoin Moves: A bunch of Bitcoin that hadn’t been touched for 7-10 years suddenly moved. This could signal increased trading activity.
- Bitcoin Price Drop: Bitcoin’s price dipped, breaking out of its recent trading range.
