What are some examples of long put options in the cryptocurrency market?

1 answers

• Rutledge PalmFeb 23, 2021 · 4 years ago
  BYDFi, a leading cryptocurrency exchange, offers long put options for various cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. These options provide investors with the opportunity to hedge against potential price declines in the cryptocurrency market. For example, if you hold a long put option for Bitcoin with a strike price of $50,000 and the market price of Bitcoin drops below $50,000, you can exercise the option and sell your Bitcoin at the higher strike price, thereby limiting your losses. However, it's important to note that long put options involve risks and should be used with caution. It's always recommended to consult with a financial advisor before making any investment decisions.
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