Yahoo Finance PowerTrade to Launch Bitcoin Options Trading App on Apple Store
Mobile bitcoin options trading platform PowerTrade announced Tuesday retail investors outside the U.S. will be able to download its new app on the Apple iOS store from April 15.
In a press release, PowerTrade said most bitcoin options trading is still done at the institutional level. With the app, retail investors using the app 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
