Jan 09
A Complete Guide to the Best Crypto Options Trading Platforms of 2024
The crypto options trading landscape is surging to new highs in 2024, with the Deribit platform leading the charge. Let's dive into the prominent platforms, exploring their key attributes and innovations.
The crypto options trading industry, as of late 2023, witnessed a remarkable surge in activity, with Bitcoin options trading volumes hitting an all-time high. This surge was most notably marked by a record-breaking $7.7 billion worth of bitcoin-linked options set to expire on Deribit, contributing to a monthly trading volume exceeding $38 billion across major cryptocurrency derivatives exchanges. This milestone underscores the burgeoning interest and participation in the crypto options market, reflecting a growing sophistication and maturation of the cryptocurrency trading space.
In this context, platforms like Deribit, OKX, Coincall, Premia Finance, and Aevo have emerged as key players in 2024. These platforms are more than just answers to questions like "Where can I trade crypto options?" or "What's the best place to trade crypto options?" They are beacons in the digital finance world, each with a unique story to tell.
Centralized Crypto Options Platforms
Deribit
Deribit has firmly established itself as a colossus in the crypto options trading world, with its significant market share and innovative expansion strategies. In 2023, Deribit's contribution to the record-breaking monthly trading volume of Bitcoin options highlighted its dominant position in the market. With the strategic addition of options for XRP, Solana, and MATIC, Deribit continues to expand its horizons and cater to a diversifying trader base.
Key Features
- Market Leadership: A significant contributor to the all-time high trading volumes in the crypto options market.
- Expansive Asset Range: Introduction of options for XRP, Solana, and MATIC.
- Innovative Trading Options: A range of trading options catering to various investor needs.
Deribit Fees
- BTC Options:
- Maker Fee: 0.03% of the underlying or 0.0003 BTC per options contract.
- Taker Fee: 0.03% of the underlying or 0.0003 BTC per options contract.
- ETH Options:
- Maker Fee: 0.03% of the underlying or 0.0003 ETH per options contract.
- Taker Fee: 0.03% of the underlying or 0.0003 ETH per options contract.
OKX
OKX has transcended its previous identity, OKEX, to emerge as a global powerhouse in the crypto trading arena. In the backdrop of 2023's record-breaking trading volumes, OKX has played a pivotal role, witnessing an uptick in derivatives trading and contributing to the overall growth in the crypto options market. This platform has made significant strides in offering a diverse range of cryptocurrencies and trading options, appealing to a wide spectrum of global traders.
Key Features
- Extensive Cryptocurrency Offerings: Over 341 cryptocurrencies available for trading.
- Global Reach: Accessible in over 100 countries, broadening its user base.
- Diverse Trading Options: A multitude of trading options including derivatives and margin trading.
OKX Fees
- Maker Fees: Start at 0.02% and decline with higher tiers.
- Taker Fees: 0.03%.
Options trading is not available in all jurisdictions. Here you can see if it is available in your country.
Coincall
Coincall stands out in the crypto options landscape by prioritizing both robust security and comprehensive user education. As the crypto options market grows, platforms like Coincall play a crucial role in educating traders about the complexities and opportunities in options trading. Its partnership with Cobo for digital asset custody and the establishment of the Coincall Academy underscore its commitment to providing a secure and informative trading environment.
Key Features
- Enhanced Security: Collaborating with Cobo for digital asset custody.
- Educational Initiatives: The Coincall Academy, fostering trader education and development.
- User-Friendly Platform: Designed to accommodate both novice and experienced traders.
Coincall Fees
- BTC/ETH Options:
- Maker Fee: -0.02%.
- Taker Fee: 0.10%.
- Altcoin Options:
- Maker Fee: 0.02%.
- Taker Fee: 0.06%.
Decentralized Crypto Options Trading
Premia Finance
Premia Finance emerges as a leader in the decentralized segment of crypto options trading, a crucial aspect in an industry witnessing unprecedented volumes and interest. The platform’s approach to making DeFi options trading accessible and user-friendly resonates strongly in a market that is becoming increasingly sophisticated. The anticipated Premia Blue upgrade promises to further enhance its platform, aligning with the evolving needs of DeFi traders.
Key Features
- DeFi Options Accessibility: Simplifying the trading of decentralized finance options.
- Upcoming Premia Blue Upgrade: Enhancing user experience with improved features.
- Diverse User Base: Tailored to accommodate a range of trading experiences.
Premia Fees
- Maker Fee: 0%.
- Taker Fee (AMM): 0.30%*.
- Taker Fee (Orderbook): 0.08%.
*This fee is capped at 12% of the Option's value.
- DeFillama stats
Aevo
Aevo has carved a niche for itself in the DeFi options trading space, especially in light of the increasing interest and volume in the crypto options market. Its focus on providing a decentralized trading platform aligns with the growing trend towards autonomy and control in the crypto trading space. Aevo's commitment to these principles positions it as a go-to platform for traders who value decentralized trading mechanisms.
Key Features
- Decentralization Focus: Emphasizing user autonomy and privacy in trading.
- Global Accessibility: Potentially unrestricted access in the decentralized finance realm.
- Innovative Trading Approach: Focused on providing user-centric trading options.
Aevo Fees
- Maker Fees: 0.03% of the notional.
- Taker Fees: 0.05% of the notional.
- Options Fees: Capped at 12.5% of the options price.
Final words
In conclusion, the record-breaking trading volumes in late 2023 have set the stage for a highly dynamic and innovative year in 2024 for the crypto options trading industry. Platforms like Deribit, OKX, Coincall, Premia Finance, and Aevo are at the forefront of this transformation, each contributing uniquely to the rapidly evolving landscape. Their diverse offerings, ranging from expansive asset options and global reach to educational initiatives and decentralized trading solutions, cater to the growing and diversifying needs of crypto traders globally, marking a new era of sophistication and growth in the crypto options market.
Disclaimer: Nothing on this site should be construed as a financial investment recommendation. It’s important to understand that investing is a high-risk activity. Investments expose money to potential loss.
