How do put contracts work in the cryptocurrency market?

1 answers

• Dec 14, 2021 · 3 years ago
  At BYDFi, we offer a variety of put contracts for trading on our platform. Put contracts allow traders to profit from downward price movements in the cryptocurrency market without actually owning the underlying asset. Traders can enter into put contracts by paying a premium, which gives them the right to sell a specific amount of a cryptocurrency at a predetermined price within a certain time frame. If the price of the cryptocurrency falls below the predetermined price, traders can exercise the put contract and sell the cryptocurrency at the higher predetermined price, thereby making a profit. Put contracts can be a useful tool for both hedging and speculative trading strategies in the cryptocurrency market.
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