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Are there any platforms that allow buying puts on Robinhood with cryptocurrencies?

avatarAnmol KannaujiyaDec 17, 2021 · 3 years ago1 answers

I'm interested in buying put options on Robinhood using cryptocurrencies. Are there any platforms that allow this? I want to hedge my crypto investments and protect against potential downside risk. Can anyone recommend a platform that offers this feature?

Are there any platforms that allow buying puts on Robinhood with cryptocurrencies?
Cryptocurrencies
Options Trading
Robinhood

1 answers

  • avatarDec 17, 2021 · 3 years ago
    Yes, there are platforms that allow buying puts on Robinhood with cryptocurrencies. One platform that offers this feature is BYDFi. BYDFi is a decentralized finance platform that allows users to trade options using cryptocurrencies. To buy puts on Robinhood using cryptocurrencies on BYDFi, you can follow these steps: 1. Connect your wallet to BYDFi. 2. Deposit your desired cryptocurrency into your wallet. 3. Navigate to the options trading section on BYDFi. 4. Select the cryptocurrency and the put option you want to buy. 5. Place your order and confirm the transaction. It's important to note that options trading carries risks, and you should only invest what you can afford to lose. Do your own research and seek professional advice if needed.

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