We’re thrilled to introduce a new payment option for Strike & UpDown Options in the Crypto.com App: Crypto Funding!
US Crypto.com App users can now open a Strike or UpDown Options trade by converting cryptocurrency to USD seamlessly. Any token in their available balance can be used, and all 350+ cryptocurrencies in the App are supported. What’s more, this process is quick and seamless!
Paying for your Strike or UpDown Options trades with cryptocurrency takes just three steps:
- When opening a new trade, toggle on Fund with Crypto on the “Fiat (USD)” tab, or switch to the “Crypto” tab
- Tap on Token and select from available tokens in your Crypto Wallet
- Your selected token will be converted for payment
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:
- Crypto Funding FAQ
- University Article on Strike Options
- Strike Options FAQs
- University article about UpDown Options
- UpDown Options FAQs
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.
