Binance Rolls Out Bitcoin Options but Not Without Its Critics [Opinion]

Binance has launched BTC options on its futures trading platform. However, the exchange has been criticized for misleading users. Its BTC options resemble some aspects of fraudulent binary trading practices.

Many exchanges have rolled out Bitcoin

With plenty of competitors already offering such marketplaces, Binance will now be entering the mix with its own BTC options market. However, this financial product is worth scrutinizing.

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Binance Offers BTC Options for the First Time

With Binance Futures now leading the market, the exchange has now unveiled plans to expand to include options trading. It made the announcement earlier this week.

As of April 13, traders can purchase BTC call and put options which expire between 10 minutes and one day at market prices. The purported goal is to provide a low spread and premium with Binance’s high-liquidity marketplace. Options trading on Binance is limited to Bitcoin now. Yet, as Binance has clarified, it does plan to introduce more digital assets than BTC options as trading picks up steam.

The rollout of Binance Options is an extension of its futures market— and it’s been controversial, to say the least.

Binance Dominates BTC Futures (For Better or Worse)

Binance hopes to dominate the BTC options market much like it has with BTC futures. As BeInCrypto has reported, the market sell-off in March reshuffled many of the market leaders for BTC futures trading. Although BitMEX has historically been the most popular, Binance and Huobi now dominate futures markets. Binance posted an all-time high of $9 billion of volume in 24H last week, as per the exchange’s announcement. The exchange…

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