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PowerTrade is now launching Bitcoin trading app on iOS

PowerTrade, the new Bitcoin trading app will be available to download by users outside the US only.
Bitcoin

The first mobile Bitcoin options application is about to be launched by PowerTrade on the Apple Store on Thursday, April 15th.

The new app will be available to download by users outside the US only. While the major part of trading will be executed at a corporate level, another part will be done on the application. Thanks to PowerTrade, retail traders will be able to purchase Call and Put Options on Bitcoin in 3 only clicks.

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Call options and Put options

A call option allows (but does not constrain) the digital currency holder to acquire crypto at a preset value on or before a specific date. Meanwhile, a put option constitutes the right to sell.

Even though buying crypto options is considered to be less risky than buying futures, options markets are approximately half that of futures markets. Most cryptocurrency options trading is dominated by institutional investors. 93% of these trades occur on Deribit, an options trading platform.

Options markets

Bitcoin derivatives and options markets have been growing this last year, but it is rather complicated to trade them on several platforms. These platforms also are not amateur-friendly, and generally, a quite high minimum is requested to partake. PowerTrade is trying to solve these issues with its latest launch.

“The PowerTrade team has the right mix of institutional/trading and crypto experience and with this supporting cast of investors, is in a great position to deliver on their vision. With success, I can see the entire crypto derivatives market expanding to more mainstream users and growing exponentially.”

Paul Veradittakit of Pantera Capital

The interface created by PowerTrade is simple and was highly appreciated by early beta users that tested it. The application aims to guide beginners about crypto options trading.

“We’re very excited for the public to finally experience the PowerTrade vision we’ve been working towards over the past year!”

Mario Gomez Lozada, PowerTrade CEO

Markets are booming while bitcoin keeps on setting new records daily, reaching a new all-time high at $64,829.14.

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