Strike and UpDown Options Now Feature Take Profit Orders

Lock in profits and manage risks with this advanced order type

May 28, 2024
Strikeupdown Content Hub 1200x728

Strikes and UpDown Options have added Take Profit Orders! These are conditional orders that will automatically create a Limit order when the underlying asset’s price reaches a trigger price set by the trader. Traders can pre-set an order to close the position by defining how much profits to lock in.

Key Benefits of Using Take Profit Orders

  • Effectively lock in realized profits and manage risks 
  • Plan ahead of time easily
  • Say goodbye to constantly monitoring the market

How do I set a Take Profit Order up?

  1. When opening a new trade, tap Advanced Trading Options to navigate to the Take Profit page
  2. Toggle on Take Profit and set the parameters for your Take Profit Order.
  3. Specify when you would like the Take Profit Order to trigger. You can choose to take profit when your position is profitable at a specified dollar value or percentage, or when your purchased contract hits a specific price.
  4. Once you’ve chosen your take profit level, tap on the “Confirm” button to return to the order page and open your position. You’re all set!

About Strike Options

Strike Options is a CFTC-regulated crypto derivatives product which allows you to potentially profit quickly by predicting whether the price of an underlying asset will be higher than a specific price at the time of expiry.

Several benefits of Strike Options include:  

  • Straightforward Yes/No Decision Trades: Simply choose “Yes” if you believe an asset’s price will be above the strike price. Alternatively, select “No” if you believe the asset’s price will be below or equal to the strike price at contract expiry.
  • Trading With Lower Costs: Start trading with just US$10 while receiving exposure to price movements in the underlying asset (e.g., BTC and ETH). You’re not buying or selling the actual asset, only predicting how their prices will move.
  • Clearly defined risks: Potential profits and losses are upfront prior to making the trade. Plus, exit your position anytime before the contract expires to secure your profit or limit risk.

About UpDown Options

UpDown Options is the first CFTC-regulated crypto derivatives product that gives users the tools to capture value in all market conditions. It allows you to maximize profit and minimize losses, trade with lower costs, and hedge against token price dips.

Traders can choose to buy or sell an UpDown Option depending on which direction they believe the market will go. You can select BTC, BCH, ETH, LTC, DOGE, and more as underlying assets on four available contracts each, depending on their risk appetite. This is available seven days a week. UpDown Options is currently only available to users in the US, but will be added to other jurisdictions soon.

Useful Resources:

Disclaimer 

Foris DAX Inc. and Foris Inc. (d/b/a Crypto.com) offer connectivity to Crypto.com | Derivatives North America (CDNA), which is regulated by the Commodity Futures Trading Commission, for the purpose of trading derivatives on and subject to the rules of CDNA. Currently available for US users only, who must first become a Member of CDNA prior to trading CDNA derivatives on CDNA. Trading on CDNA involves risk and may not be appropriate for all. Customers risk losing their cost to enter any transaction, including fees. You should carefully consider whether trading on CDNA is appropriate for you in light of your investment experience and financial resources. Any trading decisions you make are solely your responsibility and at your own risk. Past performance is not necessarily indicative of future results. None of the material on Crypto.com or CDNA is to be construed as a solicitation, recommendation, or offer to buy or sell any financial instrument on CDNA or elsewhere. CDNA is subject to US regulatory oversight by the CFTC.

Condividi con gli amici

Che aspetti a iniziare la tua avventura crypto?

Ottieni subito la guida dedicata alla configurazione dell'account Crypto.com

Cliccando il pulsante Inizia riconosci di aver letto l'Avviso sulla privacy di Crypto.com dove illustriamo come usiamo e proteggiamo i tuoi dati personali.
Mobile phone screen displaying total balance with Crypto.com App

Common Keywords: 

Ethereum / Dogecoin / Dapp / Tokens