DOT and LINK contracts are now available on UpDown Options in the Crypto.com App, in addition to Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), Dogecoin (DOGE), Litecoin (LTC) and Avalanche (AVAX).
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, BCH, ETH, LTC, DOGE, AVAX, DOT and LINK on four available contracts each 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.
About DOT
Polkadot (DOT) is a blockchain interoperability protocol that aims to realize data exchange across different chains. Its mission is to build a completely decentralized internet where users are in control, namely, the Web3. Co-founded by the Ethereum co-founder Gavin Wood, Polkadot has established one of the most famous architectures to connect independent L1 blockchains for exchanging information in a trustless way. As the native token of the network, DOT serves three distinct purposes: governance over the network, staking and bonding.
About LINK
Chainlink (LINK) is a fully decentralized oracle network powered by the LINK cryptocurrency. One of the first networks to allow the integration of off-chain data into smart contracts, Chainlink enables smart contracts to send payments to bank accounts and other payment networks. It also connects smart contracts to the data sources and APIs they need to function easily. Its ecosystem currently powers 1,000 project integrations with 700 oracle networks, giving access to over 1B data points and securing over US$75 billion in value for DeFi applications like Synthetix, Aave, and Compound, among others.
Useful Resources:
- University article about UpDown Options
- UpDown Options introduction video
- UpDown Options launch announcement
- UpDown Options FAQs
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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.
