While there are alternatives for binary options, users looking for something that is more of a trading tool and less of a gambling game should look at Coinut. A registered company in Singapore, Coinut allows you to profit or hedge risk in both a bulish or bearish market. If binary options isn’t for you, Coinut also offers vanilla trading, making it one of the most versatile exchanges out there. I spoke to Xini Wang, founder & CEO of Coinut regarding their exchange.
Also Read: Interview with Ragnar Lifthrasir: Ubitquity’s New Director of Real Estate
What is Coinuts primary service it provides to users?
Bitcoin is a risky investment, and its price has been dropping recently. We offer people vanilla options — the ideal risk hedging tool for Bitcoins — to hedge against the downside risk but still keep the upside profit chance. We also provide binary options, which are highly leveraged but have no default risk, for people to speculate on Bitcoin’s high volatility.
How does it differ from different bitcoin option exchanges?
Other supposed bitcoin options sites are not really options exchanges. Coinut offers both vanilla and binary options. From everything we have gathered, we have created the world’s first true bitcoin options exchange. The Coinut team has been building full time for the last 12 months to offer a truly unique and forward thinking exchange.
What are the advantages of the Coinut trading platform compared to others?
Coinut offers features that no other exchanges can offer:
- While existing exchanges are offering only Bitcoin to fiat trades or futures on Bitcoins, we focus on options.
- Users have the ability to set options expire in up to 2 months to hedge against the price drops.
- For Binary options, users can choose their own strike price, which makes our Binary options a trading tool instead of a gambling game.
- Coinut has full liquidity in the exchange.
We have a fully working exchange although it is still in beta phase. We launched a few months ago to test our product on the market, and users have been trading since then. Currently our user base and volume are increasing by about 15% per week organically.
You recently joined Boost VC in San Mateo California. How has your experience been so far?
We have had a great experience in Silicon Valley. We have met some fantastic mentors who are helping us with our product. I highly recommend Boost VC and everything the program offers to entrepreneurs.
Thanks for your time Xini!
How do you think Coinut stacks up to other options? Traders, would you consider using it as your go-to exchange? Let us know in the comments below!
Photo Sources: Coinut
