Cryptocurrency derivatives exchange BIT on Wednesday rolled out options tied to Cardano's ADA token while promising to add more alternative cryptocurrencies in coming months.
ADA, the native token of Ethereum competitor Cardano, has a market value of $9.73 billion and is the world's eighth-largest cryptocurrency at press time. Alternative cryptocurrencies tend to be more volatile than the market leaders, bitcoin and ether . The availability of ADA options means traders can now use the options to hedge their portfolio risks or bet on a volatility explosion, as theyWith BIT's unified margin system, traders can use their coin holding as collateral to trade ADA options at a discount.
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