Bitcoin OptionsGuide

The Best Bitcoin Options Trading Platforms to Use in 2024

There are many ways to trade Bitcoin, one of which is called options trading. This is the trading of options contracts that have Bitcoin as its underlying asset.

Options trading involves entering into a contract that empowers the options holder to sell or buy an asset at a specific price on a specific date, known as the expiry date of the contract. In certain cases, a contract holder may be allowed to buy the asset at the agreed price before the expiry date. 

However, options trading platforms vary in the way they work and what they have to offer, so you should choose yours wisely. It is also worthy of note that bitcoin options trading is reserved for advanced crypto traders and not for newbies, so you shouldn’t try it if you’re just entering the crypto space.

Having said that, here are the best platforms you can use to trade Bitcoin options based on the quality of service they offer.



Binance is recognized as the largest crypto exchange in the world by trading volume. This is because it offers superb trading services to all kinds of users from all over the world. The exchange is easy to use, and has deep liquidity that allows you to trade any listed asset with several pairs.

Its options trading platform, Binance Options, is also well-designed to serve as an alternative to other derivatives such as perpetual contracts. However, options offered on Binance cannot be exercised, i.e you cannot buy or sell before the expiry date. 

Options trading can be carried out on the Binance app as well as on the official website, if you have flexibility in terms of the device to use. This platform is ideal for those who wish to occasionally engage in options trading but not for those who do it big time.

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Bybit is a leading crypto derivatives exchange. Its design even suggests that the platform is meant for pro traders and investors. The platform introduced options trading in 2022 and hasn’t looked back. 

It currently offers Bitcoin options that are both margined and settled with the USDC stablecoin, making it very good for calculating returns upfront. Like Binance, the options are of European style, which means they cannot be exercised before the contract’s expiry date.

Because Bybit is into derivatives trading, it offers a variety such as portfolio margin mode, which can improve capital efficiency. You can enjoy maker and taker fees as low as 0.01% on Bybit depending on your account level. 


Deribit is another top platform known for derivatives trading, and is the most liquid options trading platform on this list. In fact, it is the leading options trading platform with the largest market share of open interest for Bitcoin options.

The platform is also popular for options trading because of its sophisticated offering, offering an institutional-grade derivatives platform. On top of that, the exchange  also has beginner-friendly features such as a free options trading course, and the Options Discovery tool which allows beginners to get familiar with how options work using concrete examples.

There’s also a demo version that users can use to try out their strategies without any real risks. The platform charges 0.03% maker and taker fees for options trading.

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This platform offers everything you need in a modern and functional crypto trading platform, making it a great choice among both advanced and beginner traders. Users can access Strike Options and UpDown Options trading products on the app and trade any time.

While strike options allow users to predict whether an asset will exceed a specific price at a fixed time, UpDown options are those in which the trade closes automatically once the asset hits a specific price.

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Alexander Grayson

Alexander Grayson is a seasoned crypto trader with over a decade of experience in the industry. He has a reputation for his analytical approach to trading and his ability to anticipate shifts in the crypto landscape.

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