[ANN] Sparrow | Leading options trading platform powered by smart contracts

[vennali]

Hello! Yes the bonus is still on-going. Check out the details here! http://bit.ly/5FREESPX

fast performance I registered yesterday and verified it, and now my account has been verified, it's cool and the performance is very fast I really like it because I can enjoy the program you just launched

Thank you for checking our platform out. We are happy that you are enjoying our platform.

If you have any concerns or feedback. Feel free to contact me. We have lightning fast support on the website and telegram as well. We'd be happy to hear from you.

[joniboini]

Can you guys add an option to modify the ID of a user?

I think it's difficult to remember, even though they can back it up. Having simple User ID like username would be better than having 12 chars as the user ID.

[vennali]

Can you guys add an option to modify the ID of a user?

I think it's difficult to remember, even though they can back it up. Having simple User ID like username would be better than having 12 chars as the user ID.

Thanks for your suggestion, we will look into it. As far as remembering the ID is concerned, that is pretty much never needed. You can login using your e-mail.

[mayukus4life]

What is the duration of this bounty because I couldn't find any date regarding this.

[Sparrow Exchange]

Have questions on Sparrow? Want to learn how you can boost your positions with options trading?

To all our Vietnamese friends, join us for Sparrow's first ever AMA! Happening at 8pm (GMT+8) this Thursday, 27 June.

Join our Vietnamese community for the AMA
https://t.me/SparrowExchange_Vietnam

[Sparrow Exchange]

Pleased to announce our partnership with BitGo, who will be the official custodian for our platform.

With great partners, Sparrow is in a good position to ensure that our platform remains safe, secure and compliant to global standards.

Sparrow teams up with leading custodian BitGo to safeguard users’ assets

[vennali]

https://medium.com/sparrowexchange/3-strategies-to-combat-crypto-market-volatility-with-options-trading-daf9dba119dc

Market is getting pretty volatile. Here are some strategies to help you trade smarter.  

[Vimdesk]

how about the ecosystem of the Sparrow Token, is it similar to Stablecoin?

We have 2 coins, one is SPO which is a native payment token on Sparrow platform, You get 50% discount on transaction fees while using it. We also have Sparrow Dollar (SP$), which is a settlement currency of Sparrow platform. It allows traders to settle contracts easily with a commonly denominated settlement currency.

that means, SPO tokens will not have value and its only used to access services on the Sparrow platform ?
I also heard the minimum convert is 1000 SPO, that means a bonus 100 SPO for registering an account not worthless at all. this is like fraud to get free KYC for the new user, you don't respect them.

[Sparrow Exchange]

how about the ecosystem of the Sparrow Token, is it similar to Stablecoin?

We have 2 coins, one is SPO which is a native payment token on Sparrow platform, You get 50% discount on transaction fees while using it. We also have Sparrow Dollar (SP$), which is a settlement currency of Sparrow platform. It allows traders to settle contracts easily with a commonly denominated settlement currency.

that means, SPO tokens will not have value and its only used to access services on the Sparrow platform ?
I also heard the minimum convert is 1000 SPO, that means a bonus 100 SPO for registering an account not worthless at all. this is like fraud to get free KYC for the new user, you don't respect them.

Hi Vimdesk,

We hope to welcome you to our platform with the Welcome Bonus and facilitate your trading experience at Sparrow.

We'll also have more campaigns coming up, so stay tuned if you are interested.


More info on SPO
- With SPO, users get to enjoy 50% off transaction fees on Sparrow
- For SPO now, only can buy on ConvertNOW Facility
- Sell is disabled for now, when it is available will inform the community
- SPO can be withdrawn to any ERC20 wallet, but not sent to any exchanges as it is not supported on any other exchange currently
- We will announce when we have official updates regarding trade activation or any exchange listings

[BullishBrother]

how about the ecosystem of the Sparrow Token, is it similar to Stablecoin?

We have 2 coins, one is SPO which is a native payment token on Sparrow platform, You get 50% discount on transaction fees while using it. We also have Sparrow Dollar (SP$), which is a settlement currency of Sparrow platform. It allows traders to settle contracts easily with a commonly denominated settlement currency.

that means, SPO tokens will not have value and its only used to access services on the Sparrow platform ?
I also heard the minimum convert is 1000 SPO, that means a bonus 100 SPO for registering an account not worthless at all. this is like fraud to get free KYC for the new user, you don't respect them.

Hi Vimdesk,

We hope to welcome you to our platform with the Welcome Bonus and facilitate your trading experience at Sparrow.

We'll also have more campaigns coming up, so stay tuned if you are interested.


More info on SPO
- With SPO, users get to enjoy 50% off transaction fees on Sparrow
- For SPO now, only can buy on ConvertNOW Facility
- Sell is disabled for now, when it is available will inform the community
- SPO can be withdrawn to any ERC20 wallet, but not sent to any exchanges as it is not supported on any other exchange currently
- We will announce when we have official updates regarding trade activation or any exchange listings

This platform has been sooo smooth and good design. Absolutely loving it. I was looking for more options trading platforms but this has clearly been my fav and Ill be sticking to it. Thanks Sparrow.

[vennali]

This platform has been sooo smooth and good design. Absolutely loving it. I was looking for more options trading platforms but this has clearly been my fav and Ill be sticking to it. Thanks Sparrow.

Thank you for your support. We strive to become the best in business and we have a world class team behind it all. All the love that we get is really appreciated.

[elitecstrike]

Sparrow seeks to list DGX gold token for spot, options, and fiat conversion
Sparrow Exchange is proposing to the Digix DAO a total of 230 ETH to list DGX gold tokens
https://www.cryptoninjas.net/2019/07/09/sparrow-exchange-seeks-to-list-dgx-gold-token-for-spot-options-and-fiat-conversion/

[iHaveDreams]

Sparrow seeks to list DGX gold token for spot, options, and fiat conversion
Sparrow Exchange is proposing to the Digix DAO a total of 230 ETH to list DGX gold tokens
https://www.cryptoninjas.net/2019/07/09/sparrow-exchange-seeks-to-list-dgx-gold-token-for-spot-options-and-fiat-conversion/

This is one step in the progress of the Sparrow Exchange, hopefully in the coming days more and more lists in the Sparrow Exchange will attract a lot of attention from the public and they will trade on the Sparow Exchange

[Weng_saboh]

Sparrow seeks to list DGX gold token for spot, options, and fiat conversion
Sparrow Exchange is proposing to the Digix DAO a total of 230 ETH to list DGX gold tokens
https://www.cryptoninjas.net/2019/07/09/sparrow-exchange-seeks-to-list-dgx-gold-token-for-spot-options-and-fiat-conversion/

This is one step in the progress of the Sparrow Exchange, hopefully in the coming days more and more lists in the Sparrow Exchange will attract a lot of attention from the public and they will trade on the Sparow Exchange

yeah right. I am happy with the development of sparrow well and also the teams who have worked hard in its development. it seems that the sparrow exchange will be successful and many tokens are listed in it.

[teddybear]

Sparrow seeks to list DGX gold token for spot, options, and fiat conversion
Sparrow Exchange is proposing to the Digix DAO a total of 230 ETH to list DGX gold tokens
https://www.cryptoninjas.net/2019/07/09/sparrow-exchange-seeks-to-list-dgx-gold-token-for-spot-options-and-fiat-conversion/

That is great news. I have been following Sparrow closely bit I didnt have much information about Digix. I might have to check it out now.

[vennali]

Getting started at Sparrow — Part 2: Topping up your account.

For those who have successfully registered an account and passed user verification, congratulations! You’re just a few steps away from making your first trade. Learn more from the Medium article. Written in a way to help all beginner traders.

[puremage111]

Alright so we have 2 things there

TradeProtect and TradeBoost
Hope i get this right

TradeProtect
If i make a call option at $220 per Ethereum, current Ethereum price is $200, within the expiry date, if the Settlement price is $230, i will earn $10 per Ethereum contract right?

How about TradeBoost?
I don't get how tradeboost work here
It allows us to sell an OTM Options, and why are we getting paid the premium here instead of paying the premium?
Lets say current price for Ethereum is $200
I put the strike price at $220, it allow me "Obligation to sell at $220"
So i am currently having a call/put options here?
Shouldn't putting a strike price above spot price "an Obligation to buy at $220"?

EDIT: Oh, hope i get this right
For TradeBoost, instead of being the options buyer. I am now the options seller?


Kindly help, thanks

[Sparrow Exchange]

Alright so we have 2 things there

TradeProtect and TradeBoost
Hope i get this right

TradeProtect
If i make a call option at $220 per Ethereum, current Ethereum price is $200, within the expiry date, if the Settlement price is $230, i will earn $10 per Ethereum contract right?

How about TradeBoost?
I don't get how tradeboost work here
It allows us to sell an OTM Options, and why are we getting paid the premium here instead of paying the premium?
Lets say current price for Ethereum is $200
I put the strike price at $220, it allow me "Obligation to sell at $220"
So i am currently having a call/put options here?
Shouldn't putting a strike price above spot price "an Obligation to buy at $220"?

EDIT: Oh, hope i get this right
For TradeBoost, instead of being the options buyer. I am now the options seller?


Kindly help, thanks

Hi puremage111,

Thanks for your interest!

You’re right, TradePROTECT = buying options by paying a premium (can be buy call or buy put) while TradeBOOST = selling options and collecting a premium  (can be sell call or sell put)

For your TradeBOOST scenario, where you put strike price at $220 when the current ETH price is at $200. It is a sell call position – meaning you are bearish and think the price will not exceed $220.

You get an instant premium from being an options seller - If it goes above $220, then your option will be exercised, otherwise it will expire worthless. Of course as a seller, you will hope that they expire worthless so that you can profit from the premium.



Hope this helps! Do join us on our Telegram chat: https://t.me/SparrowExchange - Our team and communities are active there where we often share options trading tips and strategies. Feel free to ask us any questions there! 

[puremage111]

Alright so we have 2 things there

TradeProtect and TradeBoost
Hope i get this right

TradeProtect
If i make a call option at $220 per Ethereum, current Ethereum price is $200, within the expiry date, if the Settlement price is $230, i will earn $10 per Ethereum contract right?

How about TradeBoost?
I don't get how tradeboost work here
It allows us to sell an OTM Options, and why are we getting paid the premium here instead of paying the premium?
Lets say current price for Ethereum is $200
I put the strike price at $220, it allow me "Obligation to sell at $220"
So i am currently having a call/put options here?
Shouldn't putting a strike price above spot price "an Obligation to buy at $220"?

EDIT: Oh, hope i get this right
For TradeBoost, instead of being the options buyer. I am now the options seller?


Kindly help, thanks

Hi puremage111,

Thanks for your interest!

You’re right, TradePROTECT = buying options by paying a premium (can be buy call or buy put) while TradeBOOST = selling options and collecting a premium  (can be sell call or sell put)

For your TradeBOOST scenario, where you put strike price at $220 when the current ETH price is at $200. It is a sell call position – meaning you are bearish and think the price will not exceed $220.

You get an instant premium from being an options seller - If it goes above $220, then your option will be exercised, otherwise it will expire worthless. Of course as a seller, you will hope that they expire worthless so that you can profit from the premium.



Hope this helps! Do join us on our Telegram chat: https://t.me/SparrowExchange - Our team and communities are active there where we often share options trading tips and strategies. Feel free to ask us any questions there! 

Alright thanks for the help
So for Sell Call/Sell put options

Lets say current price is $200, Strike price is $220, Settlement Date is 1 week Later
So For Day 2, if spot price touch and hit above $220, the options is closed straightaway?
Or it will depends on the final price during the settlement Date?
Thanks

Another Scenario (For TradeBoost)
Ethereum Current price $200, if i set the strike price at $180, this will be a sell put options right?
Hence if i wanted to profit from this, i will hope that the price of Ethereum never hits $180 or else my options is close?

Thanks

[Sparrow Exchange]

Alright so we have 2 things there

TradeProtect and TradeBoost
Hope i get this right

TradeProtect
If i make a call option at $220 per Ethereum, current Ethereum price is $200, within the expiry date, if the Settlement price is $230, i will earn $10 per Ethereum contract right?

How about TradeBoost?
I don't get how tradeboost work here
It allows us to sell an OTM Options, and why are we getting paid the premium here instead of paying the premium?
Lets say current price for Ethereum is $200
I put the strike price at $220, it allow me "Obligation to sell at $220"
So i am currently having a call/put options here?
Shouldn't putting a strike price above spot price "an Obligation to buy at $220"?

EDIT: Oh, hope i get this right
For TradeBoost, instead of being the options buyer. I am now the options seller?


Kindly help, thanks

Hi puremage111,

Thanks for your interest!

You’re right, TradePROTECT = buying options by paying a premium (can be buy call or buy put) while TradeBOOST = selling options and collecting a premium  (can be sell call or sell put)

For your TradeBOOST scenario, where you put strike price at $220 when the current ETH price is at $200. It is a sell call position – meaning you are bearish and think the price will not exceed $220.

You get an instant premium from being an options seller - If it goes above $220, then your option will be exercised, otherwise it will expire worthless. Of course as a seller, you will hope that they expire worthless so that you can profit from the premium.



Hope this helps! Do join us on our Telegram chat: https://t.me/SparrowExchange - Our team and communities are active there where we often share options trading tips and strategies. Feel free to ask us any questions there! 

Alright thanks for the help
So for Sell Call/Sell put options

Lets say current price is $200, Strike price is $220, Settlement Date is 1 week Later
So For Day 2, if spot price touch and hit above $220, the options is closed straightaway?
Or it will depends on the final price during the settlement Date?
Thanks

Another Scenario (For TradeBoost)
Ethereum Current price $200, if i set the strike price at $180, this will be a sell put options right?
Hence if i wanted to profit from this, i will hope that the price of Ethereum never hits $180 or else my options is close?

Thanks

1. It will depend on the final price during settlement day. Sparrow Options are European Options - meaning options will only be settled on settlement day

2. Thats right! For sell put, you are kinda betting market will go up - so if strike is 180, your stance is that eth price will not go lower than 180. If it goes below 180 then the option will be exercised


Do make sure to not set your strike price too far away from the current price though, to ensure your order gets filled - so far on Sparrow, more than 90% of orders get filled  😉