Cryptocurrency derivatives exchange BitMEX has recently rolled out options trading for its user community.
BitMEX has initiated options trading, developed in collaboration with PowerTrade, a crypto options platform. The cryptocurrency exchange, recognized for its high-leverage perpetual swaps, now offers crypto options with margins denominated in Bitcoin (BTC), USDT, or USDC.
To celebrate the launch of trading, BitMEX is offering zero commissions on all options until the end of May. Moreover, users depositing $1,000 or more and engaging in at least one option trade will receive a $20 USDC sign-up bonus.
Furthermore, the exchange will furnish educational materials to assist users new to options trading or the BitMEX platform.
BitMEX presents trading options for cryptocurrencies such as Dogecoin (DOGE), Solana (SOL), Ripple (XRP), and Binance Coin (BNB).
“Our minimum trade sizes are among the lowest in the industry (e.g., 0.01 for BTC and 0.1 for ETH).”
Interest in cryptocurrency options is burgeoning within the crypto sector. Previously, several American stock exchanges, including Cboe, BOX, MIAX, Nasdaq ISE, and NYSE American, submitted applications to the U.S. SEC to introduce options on spot cryptocurrency ETFs.
Nevertheless, the regulator has yet to take action on these applications, with public feedback being solicited concerning the launch of such products.
As the U.S. trails in offering options on crypto ETFs, two American congressmen—Mike Flood and Wiley Nickel—penned a letter to SEC Chairman Gary Gensler urging the approval of options on spot Bitcoin ETFs.
Summary Review: BitMEX’s introduction of options trading marks a significant expansion of its services, providing its user base with new opportunities to engage in the cryptocurrency market. With zero fees for options trading until the end of May and a generous sign-up bonus, BitMEX aims to incentivize users to explore this new feature. The inclusion of educational resources demonstrates BitMEX’s commitment to supporting users who may be new to options trading or the platform itself, enhancing accessibility and promoting informed decision-making. Furthermore, the growing interest in cryptocurrency options, both within the industry and among regulatory bodies like the U.S. SEC, reflects the evolving landscape of digital asset investment. As discussions continue regarding the introduction of options on spot cryptocurrency ETFs, there is anticipation for further developments in this space. Overall, BitMEX’s move into options trading aligns with broader trends in the cryptocurrency sector and highlights the ongoing efforts to expand and diversify investment opportunities within the digital asset ecosystem.
Disclaimer: Remember that nothing in this article and everything under the responsibility of Web30 News should be interpreted as financial advice. The information provided is for entertainment and educational purposes only. Investing in cryptocurrency involves inherent risks and potential investors should be aware that capital is at risk and returns are never guaranteed. It is imperative that you conduct thorough research and consult with a qualified financial advisor before making any investment decision.
