Posted 2 years ago | by Ben Armstrong

Binance Adds ETH and XRP Options Contracts to Derivatives Platform

On May 25, the world’s biggest crypto exchange Binance announced the addition of Ethereum and XRP options trading to its derivatives platform. An option gives its holder the right, but not the responsibility to, buy or sell the underlying asset, either in actual, or cash-settled form.

This addition follows its jump into options trading with Bitcoin contracts over a month ago. The platform now supports three options contracts, including BTC, ETH, and XRP.

With these options, a kind of derivatives, the contract holder has the right to buy the underlying asset at the mature price without coming with any obligation, which means the contract holder can exit whenever the price went the other way by paying a small fee.

If you are interested in signing up for a Binance account, or learning more about the platform, please click right here for more information.

Binance is Building a Mature Market

Binance CEO Changpeng Zhao commented:

“Options contract is a much-anticipated product, allowing the traders and miners to effectively buy insurance on their positions and for speculators to take advantage of the market movements as well.”

Ethereum and XRP options are now available on To access them, Mobile users must update their apps first. Then it will be possible to trade options on the go, or from wherever the trader wants to work.

In addition, the exchange also advised the public of the risks associated with options trading:

“There is no guarantee that your options purchase will execute at a profit after the premium has been deducted. Most options purchases will not be profitable, but a minority will be very profitable.”

A Global Expansion

In the beginning, Binance was launched as a spot crypto trading exchange, but the firm then has started to expand into derivatives trading. The daily trading volume on its futures platform is now reportedly more than BitMEX, which was a market leader in the past.

As the exchange is expanding its presence in global markets, many fiat currencies have been added to tap the local markets over the past few months, including Europe, Asia, and Africa.

Binance invested an undisclosed amount in Tokocrypto, a regulated cryptocurrency exchange in Indonesia in early of this month. It also acquired for a record $400 million. Overall the market reach that Binance has created is impressive, and it is well placed to help the crypto market grow over the coming years.

About Ben Armstrong

ef4f73e9ddeb61becab57469962fa946?s=90&d=blank&r=g Binance Adds ETH and XRP Options Contracts to Derivatives PlatformBen Armstrong is a YouTuber, podcaster, crypto enthusiast, & creator of Better known as BitBoy Crypto, he works hard to educate and inform the crypto community.

Ben has been involved with the world of cryptocurrency since 2012 when he first invested in Bitcoin. He used Charlie Shrem's BitInstant & lost Bitcoin in the Mt. Gox hack.

In 2018, Ben decided to go "full-time crypto" and focus all of his time and energy into expanding the reach of crypto.

If you have any questions or comments please feel free to email him at or contact him on Twitter @BitBoy_Crypto.