Looking to trade Bitcoin options or ETH options safely? We've rounded up the best crypto options trading platforms for 2023 for you to research and compare.
For informational purposes only. Not financial or tax advice. Learn more → Editorial Policy.
What are the best crypto options trading platforms?
Looking for the best crypto options trading platforms to research and where to trade options? We have you covered. Here are some of the most notable crypto options trading platforms for 2023:
Binance offers European style USDT options contracts for BTC, ETH, BNB, XRP and DOGE. Fees are relatively low compared to other crypto options trading platforms and you have the benefit of knowing your funds are held with one of the largest and most secure crypto exchanges in the world.
As well as offering options, for those looking for other derivatives products, Binance also has futures available or margin trading and leveraged tokens for those looking for leverage on their trades. Unfortunately though, Binance US does not offer options due to a harsher regulatory environment.
Bybit offers European USDC options for BTC and ETH. The fees are relatively low, with both makers and takers paying 0.03%, plus an additional 0.015% delivery fee and a potential 0.2% liquidation fee.
While Bybit doesn’t offer a huge range of options contracts, the exchange does have a number of other derivatives products available for those looking to bet on market movements, including USDT perpetual contracts, USDC perpetual and futures contracts, and inverse contracts.
As well as this, Bybit offers a demo trading platform for derivatives trading, allowing you to safely test your options trading strategy without using your own funds.
Unfortunately, due to the harsh regulatory environment in the US, Bybit is not available for US investors.
Crypto.com UpDown options are a simplified American options contract for BTC and ETH. In even better news, this product is the only product available in our list for US investors exclusively as UpDown options are approved and regulated by the CFTC.
The way options in the Crypto.com app work is pretty simple - if you think an asset price is going up, buy an UpDown contract to open a long position, if you think an asset price will go down, sell an UpDown contract to open a short position.
UpDown contracts have very low fees, with just a $1 exchange fee and $0.99 technology fee. You can have up to 250 positions open for both BTC and ETH with a mix of long and short positions. When your contract expires, it is automatically closed.
OKX offers European BTC and ETH options contracts with multiple due date options. While it’s the platform is more suited to experienced investors, there is a demo trading platform to allow you to learn how to use the OKX platform and test your trading strategies before you use your own funds.
As well as options, OKX offers other derivatives trading products such as perpetual swaps and futures, as well as margin trading for investors who want leverage.
OKX uses a tiered trading fee structure, based on your 30-day trading volume and OKB holding. Regular users will pay between 0.015% to 0.02% maker fees and 0.03% taker fees, with these fees descending the more you trade and the larger your OKB holdings.
Deribit is a dedicated crypto derivatives exchange, and offers all the features you’d expect of this kind of platform. When it comes to options contracts, Deribit offers European BTC and ETH options contracts.
As well as options, Deribit offers spot and futures trading. While the platform is fairly intimidating for newcomers to more technical trading, Deribit has many learning resources to help you get started, as well as many tools to help you monitor your position and performance including a position builder tool.
Unfortunately, Deribit isn’t available in the US and only accepts crypto deposits.
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