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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.
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- 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.
Read more: New Bitcoin Options App Raises $4.7M in Round Led by Pantera Capital
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
