Binance just launched BTC Options on its Futures platform

One of the world’s largest crypto exchanges, Binance, just released a new announcement. The exchange revealed that it had just launched Bitcoin options on its Binance Futures platform. The platform’s users can now trade BTC options, although only via their mobile trading apps. the apps for Android and iOS both support the new feature at this time.

Why did Binance add Bitcoin options?

The platform allows users to place highly-leveraged cryptocurrency trades, and as such, it saw a lot of popularity since launch. However, it is now expanding its offering through the addition of Bitcoin options. Not only that, but traders will also have access to multiple tools for risk management, to improve their trades.

The exchange also revealed that users can buy Bitcoin call and put options. The expiry for them can go anywhere from ten minutes to an entire day. That way, Binance expects to see even more liquidity, low premiums, as well as substantially reduced spread.

Its CEO, Changpeng Zhao (CZ), commented on the new move. He said that “Options contract is a much-anticipated product, allowing the traders and miners to effectively buy insurance on their positions and for speculators to take advantage of the market movements as well. There are more features and products in the pipeline.”

BTC options’ popularity surges in few short months

While other products and futures may be in the pipeline, BTC options remain the only ones available on the platform now. But, Binance Futures’ VP, Aaron Gong, said that more will come in due time. The platform will wait for the first pair to pick up before adding them, however.

Bitcoin options trading will also come to the web platform, as well, even though that might come a bit later. However, anyone can access them right now via Android or iOS versions of the app.

Bitcoin options are not particularly old — they only started appearing a few months ago, in January of this year. The CME launched them first, as a response to an overwhelming interest in the crypto sector.