What is the meaning of selling a put in the context of cryptocurrency trading?

1 answers

• Dec 16, 2021 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, offers the option to sell puts on various cryptocurrencies. By selling a put on BYDFi, you can take advantage of the premium received and potentially generate income from the strategy. However, it's important to note that selling puts involves risks and it's important to have a thorough understanding of the market dynamics and the specific cryptocurrency before engaging in this strategy. It's always recommended to consult with a financial advisor or do thorough research before making any investment decisions.
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