SteadyOptions is an options trading forum where you can find solutions from top options traders. Join Us!

We’ve all been there… researching options strategies and unable to find the answers we’re looking for. SteadyOptions has your solution.

Got Crypto? Here's How to Use It


Cryptocurrencies are fast becoming an accepted personal and corporate finance method - much to the chagrin of centralized banks and established financial institutions. The reasons are numerous, but in a nutshell, the decentralization of massive amounts of currency poses a threat to their systems.

Outwardly, banks claim public interest is threatened, and crypto advocates money laundering. Hopefully, HSBC didn't comment on this sentiment.
 

Despite the arguments over whether crypto is a good substitute for an established banking system or facilitates criminal activity, the fact remains that the paradigm is constantly gaining ground. While Bitcoin and Etehrum are well-known digital currencies, there are over 4,000 alternatives in use. And you can use them in various ways.
 

Pay for Goods and Services

The most apparent use of digital currency is to pay for goods and services. While crypto isn't widely accepted yet, acceptance is on the increase. More than 15,000 global businesses worldwide now accept BitCoin. Receptors include software giant Microsoft, telecoms pioneers AT&T and the international auction house Sotheby's. But smaller companies are also willing to take alternative crypto as long as they can facilitate transactions.
 

Australian cryptocurrency Qoin (learn more about the digital currency Qoin on LinkedIn) is widely accepted across the nation and New Zealand. With many small vendors such as Chinese restaurants embracing their local crypto. Additionally, charities in the region are also willing to accept digital currencies as a form of donation. However, always ensure that you get a receipt for any transactions completed using your chase payment method.
 

Investment Opportunities

Of course, one of the more prominent uses of digital currencies like Bitcoin is an investment. Securities, futures, commodities and currencies can be invested using cryptocurrency. Crypto is accepted by some of the world's largest trading platforms, such as eToro and Binance. You can add funds to your account with a form of crypto as you would another, which can then be used for your financial transactions on trades. However, as with any transaction, you must take care to enter the correct details, or the system could lose your money.
 

Additionally, the currency itself can be seen as an investment. The meteoric rise of Bitcoin is a perfect example. In January 2009, it was possible to purchase 10,000 BTC for $50. At the time of writing, 1 BTC is now worth $38,000. This makes BitCoin an exceptional investment. Erik Fineman invested $1,000 in BTC when he was 12, and by the time he was 21, his BTC holdings were worth almost $5 million. 
 

Compound Your Bank Account

The traditional use of crypto is for developing a portfolio and investing, expanding, and diversifying using your digital currency. This is kept separate from your bank account. However, you can obtain cryptocurrency debit cards and credit cards. For example, Visa is one of the most widely used card issuers in the world. The company issues payment cards backed by your crypto holdings. So, essentially, wherever a Visa is accepted, which is virtually everywhere in the physical and online world, you can use your crypto Visa as payment.
 

Additionally, there are various other card issuers with different methods of paying with digital currency. For example, CoinsBank can be used for payments that automatically convert your crypto payment into the relevant currency, such as GBP or USD. There are also various prepayment cards onto which you can load crypto in specified amounts. These include Cryptopay and Bitpay, while Satoshi Tongo allows you to transfer crypto to your bank-issued debit card account

This is a contributed post.

 

What Is SteadyOptions?

Full Trading Plan

Complete Portfolio Approach

Real-time trade sharing: entry, exit, and adjustments

Diversified Options Strategies

Exclusive Community Forum

Steady And Consistent Gains

High Quality Education

Risk Management, Portfolio Size

Performance based on real fills

Subscribe to SteadyOptions now and experience the full power of options trading!
Subscribe

Non-directional Options Strategies

10-15 trade Ideas Per Month

Targets 5-7% Monthly Net Return

Visit our Education Center

Recent Articles

Articles

  • SPX Options vs. SPY Options: Which Should I Trade?

    Trading options on the S&P 500 is a popular way to make money on the index. There are several ways traders use this index, but two of the most popular are to trade options on SPX or SPY. One key difference between the two is that SPX options are based on the index, while SPY options are based on an exchange-traded fund (ETF) that tracks the index.

    By Mark Wolfinger,

    • 0 comments
    • 433 views
  • Yes, We Are Playing Not to Lose!

    There are many trading quotes from different traders/investors, but this one is one of my favorites: “In trading/investing it's not about how much you make, but how much you don't lose" - Bernard Baruch. At SteadyOptions, this has been one of our major goals in the last 12 years.

    By Kim,

    • 0 comments
    • 876 views
  • The Impact of Implied Volatility (IV) on Popular Options Trades

    You’ll often read that a given option trade is either vega positive (meaning that IV rising will help it and IV falling will hurt it) or vega negative (meaning IV falling will help and IV rising will hurt).   However, in fact many popular options spreads can be either vega positive or vega negative depending where where the stock price is relative to the spread strikes.  

    By Yowster,

    • 0 comments
    • 782 views
  • Please Follow Me Inside The Insiders

    The greatest joy in investing in options is when you are right on direction. It’s really hard to beat any return that is based on a correct options bet on the direction of a stock, which is why we spend much of our time poring over charts, historical analysis, Elliot waves, RSI and what not.

    By TrustyJules,

    • 0 comments
    • 468 views
  • Trading Earnings With Ratio Spread

    A 1x2 ratio spread with call options is created by selling one lower-strike call and buying two higher-strike calls. This strategy can be established for either a net credit or for a net debit, depending on the time to expiration, the percentage distance between the strike prices and the level of volatility.

    By TrustyJules,

    • 0 comments
    • 1,475 views
  • SteadyOptions 2023 - Year In Review

    2023 marks our 12th year as a public trading service. We closed 192 winners out of 282 trades (68.1% winning ratio). Our model portfolio produced 112.2% compounded gain on the whole account based on 10% allocation per trade. We had only one losing month and one essentially breakeven in 2023. 

    By Kim,

    • 0 comments
    • 5,888 views
  • Call And Put Backspreads Options Strategies

    A backspread is very bullish or very bearish strategy used to trade direction; ie a trader is betting that a stock will move quickly in one direction. Call Backspreads are used for trading up moves; put backspreads for down moves.

    By Chris Young,

    • 0 comments
    • 9,486 views
  • Long Put Option Strategy

    A long put option strategy is the purchase of a put option in the expectation of the underlying stock falling. It is Delta negative, Vega positive and Theta negative strategy. A long put is a single-leg, risk-defined, bearish options strategy. Buying a put option is a levered alternative to selling shares of stock short.

    By Chris Young,

    • 0 comments
    • 11,133 views
  • Long Call Option Strategy

    A long call option strategy is the purchase of a call option in the expectation of the underlying stock rising. It is Delta positive, Vega positive and Theta negative strategy. A long call is a single-leg, risk-defined, bullish options strategy. Buying a call option is a levered alternative to buying shares of stock.

    By Chris Young,

    • 0 comments
    • 11,517 views
  • What Is Delta Hedging?

    Delta hedging is an investing strategy that combines the purchase or sale of an option as well as an offsetting transaction in the underlying asset to reduce the risk of a directional move in the price of the option. When a position is delta-neutral, it will not rise or fall in value when the value of the underlying asset stays within certain bounds. 

    By Kim,

    • 0 comments
    • 9,658 views

  Report Article

We want to hear from you!


There are no comments to display.



Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account. It's easy and free!


Register a new account

Sign in

Already have an account? Sign in here.


Sign In Now

Options Trading Blogs