Announcement #24: More trading options with Options Trading
Hey everyone,
When we say we are the largest cryptocurrency exchange in India, we’re not referring to just the volume, but also to the size of innovations we have come up with from time to time. We feel, without innovation Bitbns wouldn’t exist. Therefore, with announcement no. 24, we’re taking a major leap forward in terms of innovation by introducing Options Trading on Bitbns.
With this, we are fulfilling a major part of the roadmap i.e derivatives. Derivatives are financial instruments that derive value from their underlying assets. There are mainly four types of derivative contracts, namely Futures, Forwards, Options & Swaps. Today, we are announcing the launch date for options. So far, options trading in crypto doesn’t have something solid to offer and has been explored only by Deribit, which occupies over 85% of the options trading market
Building options trading products is a fairly complex endeavour and we had been working on this for the last 12 months. This is precisely why very few entities globally have done it. We are sharing with you a sneak peak of how the interface looks like:
We would be making significant content and educational material to simplify options trading experience for the users.
Nifty is the world’s largest derivatives market by trading volume for equities and options are traded largely on it, as compared to futures. Typical daily trading volume on Nifty trading is upwards of 100 billion USD. Through an options trading platform of our own, we look forward to opening an avenue for these users to trade digital assets derivatives.
On Sept 10th, traders would be able to trade cryptocurrency options on Bitbns. Currently, Bitbns Options is running in closed beta to analyse and iron out any issues.
One last thing XRP FIP goes live on Monday. XRP seems to be making another attempt at breaking the year long resistance. Let’s hope it breaks. Till then keep earning interest on your FIP and you can always redeem your XRP at any time you wish.
Till then
Onwards and upwards
Team Bitbns
