What are the steps to buy puts on crypto?

1 answers

• Maddox HongMar 07, 2024 · a year ago
  BYDFi is a popular cryptocurrency exchange that offers options trading, including the ability to buy puts on crypto. Here are the steps to buy puts on crypto using BYDFi: 1. Sign up for a BYDFi account and complete the necessary verification process. 2. Deposit funds into your account. 3. Navigate to the options trading section and select the cryptocurrency you want to buy puts on. 4. Choose the expiration date and strike price for your puts. 5. Enter the quantity of puts you want to buy. 6. Review your order and confirm the purchase. 7. Monitor your puts and make any necessary adjustments or sell them when the desired profit is reached. Remember to do your own research and consider your risk tolerance before trading options.
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