PowerTrade to Launch Bitcoin Options Trading App on Apple Store
PowerTrade said most bitcoin options trading is done at the institutional level.
Retail investors outside the U.S. will be able to download PowerTrade's new app on the Apple iOS store from April 15.
- In a press release, the mobile bitcoin options trading platform said most trading is still done at the institutional level. With the app, retail investors will be able to buy call and put options on bitcoin in just three clicks. It will not be available within the U.S.
- A call option gives the holder the right but not the obligation to buy the underlying asset at a predetermined price on or before a particular date. A put option represents a right to sell.
- In September, PowerTrade raised $4.7 million via token sales in a round led by Pantera Capital and joined by Framework Ventures, CMS Holdings, and QCP Capital among others.
- “Easy to understand options are key to further retail adoption of crypto,” said Joey Krug, co-chief investment officer of Pantera Capital.
- The app “prioritizes user education through design and launches with fee-free trading for all early users,” PowerTrade said.
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