Crypto exchange Binance announced on Monday that it had launched the Options Trading on mobile devices. As the official announcement on its website, the new option will only be available on the latest version of the Binance mobile application.
— Binance (@binance) April 13, 2020
Options Trading is one of the most widely utilized financial products in traditional markets. Since the crypto industry is venturing into the traditional territory, trying to rope in new investors, it is extremely important to provide similar products in the crypto space as well. And since most of the crypto activity takes on mobile phones, it was only logical to add options trading to the mobile application.
In a blog post earlier this month on the company’s newest crypto-financial offering, Binance stated,
“Binance Options offers a lower entry barrier and provides flexibility to option traders. Traders are now allowed to take advantage of the price movement within different time frames and enjoy unlimited profit upsides with limited risks. Binance Options are intuitively designed to enhance traders’ trading experience, unlike traditional options products.”
Traditionally, options trading is a financial instrument that allows investors to buy and/or sell assets at a predetermined price on or before an agreed date. These assets can be anything right from equity stocks and commodities, to forex, cryptocurrencies, and indices.