Deribit, a well-known company for buying and selling options for Bitcoin (BTC) and Ether (ETH), has created new options linked to the upcoming U.S. presidential elections. This has made people who sell and buy things for a job very happy. They think this will help them not lose money and keep it safe. This is important because the elections could change the cost of things significantly.

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• Deribit launched new Bitcoin and Ether options related to U.S. elections.
• Options help people who trade to keep their digital money safe during elections.
• Traders think using options is a good way to protect their money from changes caused by the election.

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Deribit Launches Bitcoin, Ether Options Ahead of U.S. Elections

New BTC and ETH options have been made to help traders take better care of their digital money. People who trade liked the announcement made on Tuesday. 

Jeff Anderson, a big trader at STS Digital, said, “The U.S. election is a huge event that can change the value of crypto money. It can affect how money works. Options help protect against these changes, so it’s smart for Deribit to have this product.”

The coming election could affect cryptocurrencies. Donald Trump, the Republican candidate, has shown interest in digital money, which is different from Joe Biden, the current president. Trump has not given a detailed plan for cryptocurrencies, but his recent connection with Bitcoin miners and promise to go to the Nashville conference have helped him gain support from the industry. This means that the wider market might be connected to his presidency.

Because the election might cause the prices for BTC and ETH to change a lot, options become very important for protecting the money investors have put into these assets. Options are a way to safeguard against unpredictable price changes in the underlying asset. A call option protects against price increases, while a put option protects against price decreases.

Deribit’s election-related options will start from July 18 at 8:00 UTC and last until November 8, three days after the election results are announced on November 5. On Deribit’s platform, one option contract is the same as one BTC or ETH.

Laurent Kssis, a specialist at CEC Capital, praised the move, “These options are a clever step by Deribit. They help traders to plan well before, during, and after the elections with a three-day buffer after the results. It’s a good way to gain leverage and protect exposure.”

Traditional market traders commonly use options to manage exposure during uncertain events like elections or company earnings announcements.

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