Can you trade options on Coinbase?

Coinbase doesn’t offer options trading for retail users due to regulatory risks—only spot trading and futures (for approved traders); consider Deribit or Bybit for crypto options. (154 characters)

Jul 22, 2025 at 03:42 pm

Understanding Options Trading

Options trading involves contracts that give the buyer the right—but not the obligation—to buy or sell an asset at a predetermined price before a set date. These contracts are common in traditional finance, especially with stocks. In the crypto space, options allow traders to hedge positions or speculate on price movements without owning the underlying asset. Coinbase does not currently offer options trading for cryptocurrencies or any other assets on its standard retail platform. This means users cannot create, buy, or sell call or put options directly through Coinbase’s interface.

Difference Between Spot Trading and Derivatives

Coinbase primarily supports spot trading, where users exchange fiat or crypto for digital assets like Bitcoin or Ethereum at current market prices. Spot trading is straightforward and does not involve leverage, expiration dates, or complex contract terms. Derivatives—like options or futures—require a separate regulatory framework and risk management infrastructure. Coinbase Advanced and Coinbase Exchange do offer some derivatives such as futures contracts, but these are limited to institutional clients and approved professional traders, not retail users. Retail customers are restricted to spot transactions only.

How to Access Crypto Derivatives if You’re on Coinbase

If you're a Coinbase user seeking derivatives exposure, you must upgrade to a qualified platform or service:

• Apply for Coinbase Advanced: Navigate to [coinbase.com/advanced-trade](https://www.coinbase.com/advanced-trade), sign in, and complete identity verification.
• Check Eligibility: U.S. residents may need to pass a knowledge assessment and meet minimum net worth or trading experience criteria.
• Fund Your Account: Transfer crypto or fiat to your Advanced account.
• Navigate to Derivatives Section: Look for the "Futures" tab—not "Options"—as options are not available.
• Review Contract Details: Each futures contract lists expiration date, leverage, and settlement method.
  Note: Even with Advanced access, options trading remains unavailable. Users must look elsewhere for crypto options platforms like Deribit, OKX, or Bybit.
  

  Why Coinbase Doesn’t Offer Options to Retail Users

  
  Regulatory compliance is the primary reason. The SEC and CFTC impose strict rules on options products, especially when offered to non-professional investors. Coinbase must ensure all products meet investor protection standards. Options carry higher risks than spot trading, including unlimited losses for sellers (writers) of options. Coinbase prioritizes simplicity and safety for its core user base. Offering options would require extensive disclosures, risk warnings, and possibly a broker-dealer license—steps Coinbase has not taken for retail users.
  

  Alternatives for Crypto Options Trading Outside Coinbase

  
  For users determined to trade crypto options, several platforms exist:
• Deribit: Offers Bitcoin and Ethereum options with deep liquidity. Requires KYC verification.
• OKX: Supports multiple crypto options with up to 100x leverage on certain pairs.
• Bybit: Provides European-style options with intuitive UI and real-time Greeks (delta, gamma, etc.).
• Binance Options: Available to non-U.S. users only; includes weekly and monthly expiries.
  Each platform requires account creation, identity verification, and funding in crypto. Always test with small positions first, as options strategies like straddles, spreads, or covered calls can be complex and lead to rapid losses if mismanaged.
  

  Frequently Asked Questions

  Q: Can I trade crypto options on Coinbase Pro?
  
  No. Coinbase Pro was rebranded as Coinbase Advanced Trade, and even this version does not support options contracts for retail users. Only futures are available to eligible professional traders.

  Q: Is there a waitlist or future plan for Coinbase to add options trading?
  
  Coinbase has not announced any public waitlist or timeline for launching retail crypto options. Institutional clients may have access through Coinbase Institutional, but details are not publicly disclosed.

  Q: What happens if I try to deposit options contracts into my Coinbase wallet?
  
  Coinbase wallets do not recognize or support options contract tokens. Depositing such assets may result in permanent loss. Only deposit native cryptocurrencies listed on Coinbase (e.g., BTC, ETH, SOL).

  Q: Are there any Coinbase-affiliated apps that offer crypto options?
  
  No. Coinbase Ventures has invested in various crypto projects, but none of its portfolio companies currently integrate options trading directly into Coinbase’s ecosystem. Users must use third-party exchanges independently.