FTX starts working with bitcoin options
Literally today, one of the most reputable cryptocurrency trading platforms has launched a new type of transaction. FTX, the so-called exchange, began using cryptocurrency options. The innovation definitely deserves your attention. In addition to discussing the news, today we will also understand what a cryptocurrency option is. In general, it will be interesting. So let’s get started.
A little useful theory
To better understand such a complex thing as crypto options, you should understand what an option is. In the broad sense of the word. In simple terms, an option is a type of security. Thanks to the purchase of an option, the owner of this paper gets the right to sell his purchase at a predetermined price. That is, you pay for the opportunity to realize your own purchase at a negotiated cost. Price may change until both sides are satisfied.
Unfortunately, a paper or classic option is most often associated with fraud. The history of the world economy remembers many cases of unfair selling options. However, thanks to Blockchain, this idea was completely reworked. The guarantee of a successful transaction is determined by cryptography. Complex mathematical algorithms equate the chance of cheating to 0%. It is obvious that reliable and profitable technology could not remain without attention for a long time. Cryptocurrency options already penetrate our lives, but more on that in the next sections.
What exactly is the innovation?
First about the FTX exchange. Many have heard about her. This is a serious resource that is used by a huge number of users. The platform has authority not only among ordinary traders, but also among its trading colleagues. Binance representatives, for example, have repeatedly assisted FTX in times of crisis. The companies cooperate with each other on mutually beneficial conditions. So today, FTX released new options based on the Blockchain. Of course, the technology still needs refinement. Options-based transactions are still not available to US customers. The exchange also plans to add limit orders in the future.
Just a couple of hours after the inclusion of options in the list of services, the technology has already received solid application. Under the new trading system, more than $1 million worth of deals have already been concluded. A little later, 12 hours after the start of work, the number of transactions exceeded 2000.
FTX was lucky to be the first to launch crypto options. This technology will definitely get its distribution and will find even more fans. Binance, already known to us, also intends to integrate options into its system. The platform plans to invest in FTX in order to get the opportunity to install the technology on its own resources in the future.
How will FTX technology change the world?
According to serious analysts, it is with options that the real use of crypto coins as the only currency will begin. Experts believe that the crypto industry should go further than exchange trading, digital options will greatly help this process. It is assumed that it is these assets that over time will replace our usual money. Just imagine: you can buy goods for dollars or euros, as well as for cryptocurrency. All this will be possible precisely thanks to the development of FTX.
Follow the development of crypto options and other branches of the crypto industry with us. We publish only high-quality and relevant material. Thanks for attention. Good luck!