Leading cryptocurrency exchange, Crypto.com, is currently rolling out a new crypto derivatives product to its U.S. customers through its smartphone app.
The new product – Strike Options – allows users to potentially profit in just 20 minutes, according to information shared with Finbold on November 13.
With Strike Options, users can try to predict whether the underlying asset’s price will go up or down by selecting either a “Yes” option if they think it will increase or a “No” option if they think it will decrease.
Introducing Strike Options, a new crypto derivatives product in the https://t.co/vCNztATkNg App ⚡️
Turn daily predictions into potential profit with:
✅ Straightforward Yes/No decisions
✅ Less than US$10 per trade
✅ Clearly defined risk & rewardsℹ️ https://t.co/J8hIeo024p pic.twitter.com/5BfH5WNyDv
— Crypto.com (@cryptocom) November 13, 2023
Contract durations
These options offer a fast-paced form of trading with contract durations as short as 20 minutes. It allows its users to make a profit in both bull and bear markets and carries a low initial cost of $10.
It’s worth pointing out that Strike Options is a Commodities Futures Trading Commission (CFTC)–regulated product and offers Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH) at the time of publication.
However, Crypto.com has plans to introduce additional cryptocurrencies to the new product further down the road.
Notably, the rollout will take place in stages, and U.S.-based Crypto.com customers will be informed when the product is available in their region either via email or through a push notification.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
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