There are CryptoCookies, an Easy Way to Trade Crypto Options

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CryptoCookies offer a new and easy way to trade crypto options. The platform is based on smart contracts recorded on the blockchain, with users using the Metamask crypto wallet.

What is Option Type Crypto Trading?

Options are a speculative and high-risk type of trading that projects whether the price of a cryptocurrency goes up and down. Traders place a “long” position if they believe that the price of crypto will go up and conversely place a “short” position if they believe that the price of the cryptocurrency will actually go down.

The problem is that options trading can usually only be done by traders who have big capital and are carried out by companies called hedge funds. The process is also carried out on major exchanges, such as the Chicago Mercantile Exchange, which is based in the United States.

The characteristics of options are somewhat different from trading futures contracts, especially in terms of the time period and the amount of leverage used. It's just that the similarity lies in determining the long and short positions and entering the derivative market category, aka derivatives, because the value is based on the dynamics of the original crypto asset market. So, in options trading, you are not trading the original asset, but only the contract.

Well, because options trading for crypto assets has so far been considered complicated and has a high "wall", CryptoCookies offers an easier and faster way.

Instead of using difficult-to-understand terms and mechanisms, CryptoCookies explain and guide users in a neat way. They refer to the main term "cookies" which mark how far you are from the crypto price, which determines your projection, whether long or short.

What Are CryptoCookies?

CryptoCookies is a blockchain powered crypto options trading exchange. With CryptoCookies, you can profit from the up or down movement of cryptocurrencies in the spot market.

“You can protect your position, take advantage of your projection. The steps are simple, choose your Cookie (how far from the market you want it to be), the direction of the market and whether you are sure it will get there (or not) by the expiration date. Then, the smart contract will create options and record transactions to the blockchain,” reads the official CryptoCookies website.

Big Risk, But…

Given that this type of trading is highly speculative and directly proportional to your position, options trading carries a high risk that the trader will lose 100 percent of his trading capital.

For example, a trader places a long position, because he projects the price to rise before the expiration period ends. However, in reality, the price of crypto on the spot market has actually fallen. As a result, the trader will lose all his capital.

Therefore, only very experienced traders can benefit in this type of market, especially traders who have high skills for technical analysis.

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