Litecoin (LTC) contracts are now available on UpDown Options in the Crypto.com App, in addition to Bitcoin (BTC) and Ether (ETH).
UpDown Options are the first CFTC-regulated crypto derivatives product that gives users the tools to capture value in all market conditions, allowing them to maximize profit and minimize losses, trade with lower costs, and hedge against price dips.
Traders can choose to buy or sell an UpDown Option depending on which direction they believe the market will go. Users can trade BTC, ETH, or LTC on four available contracts depending on their risk appetite, seven days a week. UpDown Options are currently only available to users in the US but will be available in other jurisdictions soon.
Litecoin is a peer-to-peer Internet currency that enables instant, near-zero cost payments to anyone in the world. Litecoin forked from Bitcoin, however LTC has shorter block generation times, lower transaction fees and and faster mining difficulty retargeting. Its main benefits are its speed and low fees. Litecoin transactions are typically confirmed within minutes, with transaction fees almost negligible.
Useful Resources:
- University article about UpDown Options
- UpDown Options introduction video
- UpDown Options launch announcement
- UpDown Options FAQs
Don’t have the Crypto.com App yet? Download it here.
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 UpDown Options 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.
