Best Cryptocurrency Options Exchanges for 2025

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Cryptocurrency options enable traders to speculate on price movements, hedge existing portfolios, and generate additional income streams. They are particularly useful for those uncertain about entry timing but confident about future market direction. As options gain popularity, more platforms now offer crypto options trading — but the differences between them can be significant.

Choosing the right exchange can be challenging. To simplify your decision, we've curated a list of top platforms and compiled key factors to consider when selecting a crypto options exchange.

Binance

Binance offers a comprehensive, low-cost platform for trading Bitcoin and Ethereum options as alternatives to futures contracts. Existing Binance users will find the interface intuitive, while the exchange also caters to experienced individual and institutional investors outside its ecosystem.

Originally focused on spot trading, Binance expanded into derivatives and launched its options platform in 2020. Being the world’s largest crypto exchange allows Binance to collaborate with leading market makers, offering a wide selection of crypto contracts.

Key Features:

Binance stands out by offering both American and European-style contracts. Fees start at 0.02%, with an additional 0.015% exercise fee. All collateral and settlements are in USDT, eliminating concerns about collateral value fluctuations.

Bybit

Bybit, launched in 2018, focuses on derivatives and options trading. It has grown into a reputable platform offering margin trading across multiple crypto assets. While spot trading is available, options and futures remain Bybit’s core offerings.

Traders can access European-style options for Bitcoin, Ethereum, and Solana. All contracts are settled in USDC, avoiding volatility associated with crypto-based margins.

Key Features:

Fees start at 0.03%, with a 0.015% delivery fee and a 0.2% liquidation fee in certain cases. The portfolio margin feature is especially useful for risk management.

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Crypto.com Exchange

Operating within the broader Crypto.com ecosystem, the Exchange offers various crypto derivatives, including warrants — effectively options contracts rebranded for marketing purposes.

Each warrant grants the right to buy or sell the underlying asset at a predetermined price before expiry. Currently, only Bitcoin warrants are available, with limited flexibility and low trading volume.

Key Features:

No leverage is offered, making this platform suitable for beginners. All positions are settled in USDC, simplifying risk monitoring.

Huobi

Huobi, founded in 2013, is one of the world’s largest crypto exchanges. Its options platform is highly liquid and uses stablecoin settlement for easier risk management.

Key Features:

The mobile app supports only at-the-money American contracts for simplicity. Note that traders can only buy options; Huobi acts as the sole issuer.

OKX

OKX (formerly OKEx) offers a well-designed options platform supporting BTC, ETH, and SOL. While liquidity isn’t the highest, it remains a competitive choice.

Key Features:

Contracts are European-style, exercisable only at expiry. Margining is coin-based (e.g., SOL options require SOL collateral), which may appeal to holders of specific cryptocurrencies.

StormGain

Beginners may find StormGain attractive due to its 0% trading fees, excellent charting tools, and a demo account with $50,000 virtual funds. Launched in 2019, it has over 120,000 active users.

Key Features:

Only daily expiries are available, making StormGain suitable mainly for short-term traders. Leverage of up to 5x is offered.

Deribit

Deribit dominates the professional options market with low fees and a wide range of contracts. It’s an ideal choice for experienced traders.

Key Features:

Contracts are margined in BTC or ETH, which may complicate calculations for beginners. However, it’s advantageous for those holding these assets.

Delta Exchange

Delta Exchange (DeltaX) is promoted as the home of crypto options. It supports a wide range of cryptocurrencies, including BTC, ETH, SOL, BNB, XRP, and LINK.

Key Features:

Settlements are in USDT, making trading more accessible. DeltaX also offers innovative MOVE contracts for betting on the size of price movements.

Quedex

Quedex, operated by Bitso, focuses exclusively on Bitcoin derivatives. It offers a consistent market between futures and options, ideal for hedging and arbitrage.

Key Features:

The platform offers a testnet for beginners. While expiry choices are limited, Quedex appeals to those valuing simplicity and security.

How to Choose a Crypto Options Exchange

With many platforms available, selecting the right one requires careful consideration. Here are key factors to evaluate:

Frequently Asked Questions

Can I trade options on cryptocurrencies?
Yes, many platforms like Deribit, Binance, and OKX offer crypto options. Some, like Crypto.com, provide options through branded products like warrants.

Which cryptocurrencies have options contracts?
BTC and ETH are the most common, but SOL, BNB, XRP, and LINK are also available on certain exchanges.

What is the difference between American and European options?
American options can be exercised at any time before expiry, offering more flexibility. European options can only be exercised at expiry, often resulting in lower premiums.

Do I need to own the underlying crypto to trade options?
Not necessarily. Some platforms require coin-backed margin; others use stablecoins. Always check the margin requirements before trading.

Are options riskier than spot trading?
Options can be riskier due to leverage and complexity, but they also offer strategic advantages like hedging and defined risk.

Can I practice options trading before using real money?
Yes, platforms like Bybit and StormGain offer demo accounts with virtual funds for practice.