Which cryptocurrencies are suitable for implementing the wheel options strategy?

1 answers

• Hess HvidJul 22, 2020 · 5 years ago
  As a representative of BYDFi, a digital currency exchange, I can provide some insights on which cryptocurrencies are suitable for implementing the wheel options strategy. At BYDFi, we recommend cryptocurrencies with high liquidity and a wide range of options contracts available. Some of the cryptocurrencies that meet these criteria include Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB). These cryptocurrencies have a large user base and a strong trading volume, making them suitable for options trading. However, it's important to note that the wheel options strategy carries risks, and it's always advisable to consult with a financial advisor or do thorough research before implementing this strategy.
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