Finding the best trading platforms for crypto options can be an arduous task. With so many options out there, how can you locate the perfect platforms for you? Fortunately, help is at hand, as we bring you our top five picks for the best crypto options trading platforms to use right now:
OKX
OKX provides Ethereum and Bitcoin options that have multiple due dates and strike prices. The fees on OKX start from as little as 0.02% for makers and 0.03% for takers, although this can go even lower depending on the trading volume. When it comes to crypto trading types, there is a variety of options at OKX, including perpetual futures. It is worth noting that whilst US residents cannot trade using the exchange, they can sign up for a demo account that enables them to test out their strategies.
Bybit
This popular exchange currently offers Ethereum, Bitcoin and Solana options. All the options are in the European style, so can only be exercised when they reach their expiration date. Bybit options traders can use the portfolio margin mode, which is ideal for improving capital efficiency. Whether you are taking or making, the fees for using Bybit start at 0.03%. However, if your account reaches a certain level, the fees can drop to 0.01%.
Deribit
One of the most popular options for experienced traders, especially those with deep liquidity. A key reason why Deribit is regarded as one of the best crypto options available is due to the sophisticated nature of its trading tools. Not only that, but the site also provides free training for new starters, plus an innovative tool called Options Discovery. This uses real life examples to illustrate how the options work. If you are new to Deribit, this is a great way of learning the ropes and getting yourself in the right position to trade.
Binance
Offering options on Ripple, Bitcoin, Ethereum and Binance Coin, the user-friendly interface of Binance is a primary reason the site is the world’s most popular trading platform. There is also a superbly designed Binance app that perfectly replicates the full site. As with Bybit, the options on Binance are European style, so options can only be exercised when the expiration date is reached.
Bit.com
If you want a variety of expiration dates and strike prices, then Bit.com is a trading platform worth considering. The platform also benefits from low fees for both makers and takers, especially those with a high trade volume. Unlike most trading platforms, Bit.com offers both Bitcoin AND Bitcoin Cash trading options, in addition to many other cryptos.
Making your choice
Clearly, there are a lot of great options out there when it comes to crypto options trading platforms. Some of the key considerations you need to make are fees, payment options, security and the options offered.
You also need to factor in your personal circumstances and ask yourself questions such as whether you will be needing to use a mobile app and whether you need flexibility with strike prices and expiration dates. Consider what matters most to you, then check out the options above to find out which crypto options trading platform is best for you.
This article is not intended as financial advice. Educational purposes only.
