Best Crypto Options Trading Platform

If you're wondering where to trade crypto options without hassle, Bybit should be high on your list. As one of the top platforms for derivatives, it has earned quite a name for itself.

Bybit offers Bitcoin, Ethereum, and Solana contracts with various expiration intervals. All these options are margined and settled in USDC to minimize exposure to market volatility. This setup provides a more stable and predictable trading experience, which is really helpful in the fast-paced crypto landscape.

As for the rates, the platform offers a reasonable rate of 0.02% for options trading. That said, it can be lowered to 0% as you progress through the tiered fee structure. Plus, there's a delivery rate set at 0.015%. To keep costs manageable, the delivery and trading fees are limited to a maximum of 12.5% of the option's value.

For those seeking greater control, Bybit offers the Unified Trading Account (UTA). It's an all-in-one model that combines spot, futures, and options trading under one roof. This streamlined setup makes it easier than ever to trade seamlessly across multiple instruments without needing to switch accounts.

With support for over 70 cryptocurrencies as collateral, UTA allows you to use unrealized profits as margins for trading across different product types. It also offers three margin modes, each designed for different risk levels and trading approaches:

• Isolated Margin: The margin you put into a position is separated from the rest of your account balance. It means that if a position is liquidated, the most you can lose is the margin you placed specifically for that position.
• Cross Margin: All your balance in a particular trading pair will be used to prevent liquidation. If your equity for that trading pair drops below the required maintenance margin, the position will be liquidated.
• Portfolio Margin: It's calculated based on the risk of an entire portfolio. If you have a balanced portfolio with hedging positions, portfolio margin mode can significantly reduce the required margin compared to cross margin.

UTA also comes with a handy auto borrowing & repayment feature. If you're using this mode and your asset balance drops below zero due to trades or losses, Bybit can automatically borrow the required asset to cover it.

Even better, unrealized profits can be used to offset the borrowed amount. Meanwhile, any deposits or realized surplus can be applied directly to repayment. If used wisely, this feature can save you a lot of time, reduce the need for manual intervention, and help you focus on your trades.

Another area where Bybit shines as one of the best crypto options trading platforms is its dedication to customer support. Available 24/7 through live chat, email, and social media, the support team should always be available to assist in times of need. The platform also offers a comprehensive knowledge base and how-to videos, making it easy to learn about its myriad features.

Additionally, Bybit is committed to providing rock-solid protection. The platform uses industry-leading security protocols and advanced technology to guard your assets, so you can trade with complete peace of mind.

For instance, the vast majority of your assets are kept offline in cold wallets, safely out of reach from unauthorized access. And protecting these wallets? A powerful blend of multi-signature technology, trusted execution environment, and threshold signature schemes. This security fortress safeguards your funds with a level of integrity and reliability that’s hard to beat.

That said, with the addition of a low-latency trading environment and advanced tools, it's clear why Bybit is exceptional.

HTX is a popular name in the industry. Since its founding in 2013, it has earned a reputation as a reliable and stable platform. From robust security to dependable customer support, HTX provides the ideal environment for anyone looking to explore how to buy crypto options with confidence.

The first thing you’ll notice when you visit the platform is its flexibility to choose between European and American styles. This dual approach makes it different from many other crypto options exchanges that usually provide only one type. Having both options gives you more ways to trade and allows you to try out different strategies.

For instance, if you want to take less risk, European options can help you set up vertical spreads, pay a lower premium, and secure profits by selling the option before it expires. On the other hand, American options give you more freedom by allowing you to choose the strike price and exercise the option whenever you want.

This flexibility alone makes HTX a worthy addition to the list of the best crypto options trading platforms. It can serve many different types of users, accommodating various risk profiles and diverse trading goals.

HTX doesn’t stop at just providing flexible trading styles. It takes things a step further with a variety of order types that you can utilize to optimize your trading strategies further. Some of the standout order types include:

• Limit Order: You can decide the highest price you’re willing to pay when buying or the lowest price you’re willing to accept when selling. Once you set your price, the market will try to match your order at the most favorable price available.
• Trigger Order: You can pre-set the quantity and trigger/target price. Once the market price reaches your set trigger, the system will automatically place an order based on the requirements.
• Best Bid Offer (BBO) Order: This order simplifies things by only requiring you to enter the quantity. Then, the system will automatically use the current best available price for the trade.
• Flash Close: This function helps you place an order using the top 30 best available prices in the market. Flash close is particularly useful during a volatile market because it minimizes the risk of losses from unfilled orders when prices are changing rapidly.

You also don’t need to stress over rummaging through the website for these features. The platform is easy to use and looks nice, so you can find advanced tools and make trades quickly. You won't have to ask, "Where can I trade crypto options easily?"—HTX has you covered in this area.

Now, when it comes to coin selection, the platform may not boast the wildest variety among crypto options exchanges. As of writing, HTX focuses on options products for BTC/USDT and ETH/USDT pairs.

For expert traders seeking options beyond these big names, this might feel limiting. However, for most traders who prefer stability and proven assets, HTX can easily become their go-to Ethereum or Bitcoin options trading platform.

Bitexen is a centralized cryptocurrency exchange based in Turkey, founded in 2018. The platform enables users to buy, sell, and trade a broad range of cryptocurrencies, offering over 300 digital assets, including Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), and numerous altcoins. While Bitexen aims to serve a global audience, it has established a strong foothold in Turkey, positioning itself as a reliable platform for local users.

Bitexen is accessible via both web and mobile platforms, offering an intuitive interface that caters to a wide spectrum of traders. The platform provides several trading features, such as spot trading, derivatives, and instant trades, making it suitable for both beginner and advanced traders who wish to explore various trading strategies. This versatility enables users to engage in different forms of crypto trading depending on their preferences and expertise.

The exchange supports fiat on-off ramps for the Turkish Lira (TRY), enabling seamless deposits and withdrawals for Turkish traders. This feature makes Bitexen a convenient option for users in Turkey looking to move funds between their bank accounts and crypto holdings.

For security, Bitexen employs a comprehensive approach, including a strict Know Your Customer (KYC) verification process to ensure the identity of its users. The platform also integrates two-factor authentication (2FA) to add an extra layer of protection for user accounts.

To further strengthen security, Bitexen runs a bug bounty program that incentivizes security researchers to responsibly report vulnerabilities, ensuring the platform's security remains robust and resilient against potential threats.

With its variety of cryptocurrencies, user-friendly interface, fiat compatibility, and strong security measures, Bitexen provides a solid platform for cryptocurrency trading, particularly for Turkish users.

Rebranded in 2022, OKX is undeniably one of the best crypto options trading platforms to keep an eye on. With cutting-edge security protocols, it serves millions of users across +180 regions and provides a standout selection of features.

OKX offers spot trading, P2P transactions, lending, borrowing, and various earning programs in addition to options trading. While the wide range of services might initially seem overwhelming to newcomers, you're in good hands.

If you're new to the scene, you'll find the "Simple Options" feature really helpful. It’s designed to guide you through the process in plain language, cutting out all the confusing jargon. This tool is ideal for anyone looking to dip their toes into options trading without feeling lost.

Here, you can simply choose your desired coin pair (BTC/USD or ETH/USD), predict whether the price will go up or down, and pick a target amount. Based on your choices, OKX will suggest the most suitable contracts. It's an easy and beginner-friendly way to get started.

That said, it’s still important to understand the basics of options trading before jumping in. While the feature simplifies the process to make it accessible to everyone, derivative trading carries inherent risks.

OKX also has plenty to offer for seasoned users as well. The platform’s clean and efficient design makes accessing critical data like prices, bids, asks, and order history really easy. The options section is also neatly organized, with separate Bitcoin and Ethereum option chains for easy navigation.

On top of that, the platform excels in risk management with tools to make your trading safer. Two notable features include:

• Mark Price Mechanism: This calculates fair contract values, reducing the risk of price manipulation and cascading liquidations.
• Auto-Deleveraging: During extreme market volatility, this feature minimizes losses to create a safer trading environment.

So, if you're wondering, "Can you trade crypto options with lower risk?". With OKX, the answer is yes. These tools can effectively tackle the market’s inherent volatility to create a safer trading environment for everyone.

Like many crypto options exchanges, OKX has a tiered fee structure. The rates can range from 0.020% to -0.010%, depending on your level. Your daily withdrawal limits also scale with account tiers, from $10 million to $40 million.

While I mentioned earlier that OKX is available in many countries, unfortunately, it isn’t accessible to customers in the United States and Canada due to regulatory limitations. So, if you’re wondering, "Where can I trade crypto options in the US?" you’ll need to explore other exchanges.

For those in supported regions, though, OKX is a powerhouse you don't want to miss. Its robust security, risk management tools, competitive fees, and intuitive design make it one of the top crypto options trading platforms available on the market.

When making a list of the best crypto options trading platforms, Deribit is a contender you can't simply ignore. It's one of the up-and-coming players in the industry.

Unlike other exchanges that dabble in staking, P2P trade, NFTs, and everything in between, Deribit focuses mainly on derivatives. Sure, it does offer spot trading for a select few cryptocurrencies, but its mainstay is clearly perpetual, futures, and options trading.

Deribit doesn’t limit you to just Bitcoin and Ethereum contracts. It also supports options on several altcoins like Binance Coin, Solana, and XRP.

The broader selection is the ideal answer for those asking, “Does crypto have options for short-term trading?” since altcoins often experience faster price swings. With this flexibility, Deribit can be the ideal crypto options exchange for users eager to capitalize on quick volatility.

Now, if you enjoy more complex trades, the platform also provides several advanced order types that are very useful. For instance, you can customize your trades with marker or limit orders. In addition, Deribit offers various tools to help you optimize and even lower your trading fees—a clear perk for active traders.

That being said, what truly sets the platform apart as a derivatives specialist is its "Option Wizard" feature. This handy tool simplifies options trading by streamlining the process of designing effective strategies.

By entering basic details such as price expectations, time frames, and limits, the Wizard will process real-time market data to suggest the most suitable strategy based on your input. It also provides comprehensive insights, including:

• Expected Profit: The amount of money you can get if the prediction is correct.
• Return Percentage: The potential ROI for your trade.
• Maximum Loss: The worst-case scenario for your investment.

For less experienced traders wondering, “Can I do options on crypto without overcomplicating things?”, Deribit’s Option Wizard definitely can be the solution. It simplifies the complexities of options trading, making it a more manageable experience for everyone.

Deribit also deserves praise for its risk management framework. It uses a system called incremental liquidation to maintain the minimum required assets for open contracts.

Instead of liquidating your entire position all at once, Deribit sells off smaller portions first to bring your account back into margin limits. This thoughtful approach helps protect your position, giving you a chance to recover if the market shifts in your favor.

Deribit doesn’t just excel in contract trading—it’s also rock-solid when it comes to security. With 99% of user funds stored in cold wallets, your assets are safe from online threats. Add to that secure servers with 24/7 surveillance, two-factor authentication, Yubikey integration, and IP whitelisting, and you’ve got a platform that takes safety seriously.

It’s easy to see why many enthusiasts regard Deribit as a specialist in crypto options exchanges. Its advanced trading tools, diverse selection of altcoins, and innovative Option Wizard make it an appealing choice for those seeking the best crypto options trading platform.

StormGain is a hidden gem that’s often overlooked by the community. While it doesn’t make headlines as often as Binance, it offers a balance between advanced tools and a user-friendly experience, earning its place among the best crypto options trading platforms worth exploring.

What makes it special is its user-friendly interface and welcoming vibe. From the moment you visit the platform, you’ll immediately notice the sleek, minimalist design that's built with all levels of users in mind.

Now, StormGain does a fantastic job of combining simplicity with cutting-edge trading tools. You can easily execute advanced market orders without feeling overwhelmed by cluttered data or overly complex features. This thoughtful balance makes it especially appealing for newcomers who might find the typical trading platforms overwhelming.

On top of that, StormGain doesn’t leave you to figure things out on your own. There are plenty of blog posts, video tutorials, and trading signals to support you along the way. And if you ever run into trouble, its responsive support team is just a click away.

For experienced traders, StormGain has exciting features, too. With leverage of up to a whopping 300x, it gives pros the tools to optimize their potential income. Even among the best crypto options trading platforms on the market, that’s an impressive amount!

In terms of contract availability, StormGain offers a few pairs: BTC/USDT and ETH/USDT. Although this might seem limited, these popular currencies offer a stable way to start trading. With all the perks I've mentioned, it can easily be your go-to Ethereum and Bitcoin options trading platform, no matter your experience level or risk appetite.

Now, you might be convinced and start thinking, “How to buy crypto options on StormGain and start trading?”. Well, it’s as easy as it gets!

After creating an account and completing your KYC, log in via the web or mobile app and head to the options section. From there, select your contract, place your order, and you’re good to go!

And did you know StormGain has won several awards? On its website, you’ll find a list of accolades it has earned, including the World Finance Most Trusted Crypto Broker and European Best Trading and Exchange Platform awards. With a total of nine awards to its name, StormGain has firmly established itself as one of the top crypto options exchanges in the industry.

Should you find yourself asking, “Can you do options on crypto without overwhelming complexity?”, StormGain's intuitive design and beginner-friendly platform show that you absolutely can!

Kraken is one of the longest-standing and most reputable cryptocurrency exchanges in the world, founded in 2011 and based in San Francisco, USA. It is known for its strong focus on security, regulatory compliance, and a diverse range of supported cryptocurrencies. As of 2024, Kraken supports over 360 cryptocurrencies, making it one of the more versatile platforms for traders and investors looking to access a broad selection of digital assets.

Kraken is popular among both beginners and experienced traders because it offers a variety of trading options, including spot trading, margin trading, futures contracts, and staking services. Its trading fees are competitive, typically ranging between 0.00% and 0.4%, depending on the user’s trading volume and order type.

Security is one of Kraken’s most notable strengths. It employs cold storage for the majority of user funds, two-factor authentication (2FA), SSL encryption, and strict surveillance of its systems. Additionally, Kraken has a Proof of Reserves audit feature, ensuring customers that their funds are adequately backed.

The platform also follows regulations in multiple regions worldwide, including the US, UK, Canada, and Australia. So, it is a great option if you’re looking for a platform with strong regulatory compliance.