DOT and LINK contracts are now available for Strike Options in the Crypto.com App, in addition to Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), Litecoin (LTC), Dogecoin (DOGE), and Avalanche (AVAX).
Strike Options are a CFTC-regulated crypto derivatives product which allows you to potentially profit in just 20 minutes by predicting whether the price of an underlying asset will be higher than the strike price at the time of expiry.
Trades are expressed as straightforward yes/no decisions, where selecting ‘Yes’ is a prediction that the underlying asset will exceed the strike price, and choosing ‘No’ predicts it will not. You can trade BTC, BCH, ETH, LTC, DOGE, and more as underlying assets with as little as US$10, and contract durations as short as 20 minutes. That’s really all there is to it.
Strike Options are currently only available for users in the US, but they will be available in other jurisdictions soon. Watch this space for more updates from us.
About DOT
Polkadot (DOT) is a blockchain interoperability protocol that aims to realise data exchange across different chains. Its mission is to facilitate the rise of Web3, building a completely decentralised Internet where users are in control. Co-created by Ethereum Co-founder Gavin Wood, Polkadot has established one of the most famous architectures to connect independent Layer-1 blockchains for exchanging information in a trustless way. As the native token of the network, DOT serves three distinct purposes: governance, staking, and bonding.
About LINK
Chainlink (LINK) is a fully decentralised oracle network powered by the LINK token. 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 1 billion 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 Strike Options
- Strike Options introduction video
- Strike Options launch announcement
- Strike 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 Strike 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.
