How to sell a cryptocurrency put option

A put option is an agreement giving the option buyer the right,but not the obligation, to sell a specified amount of cryptocurrency at a specified price within a specified time period.

To learn more, read the Wikipedia article about put options, or the Investopedia put option entry.
Step 1
Register an account with AgoraDesk. You get a free and secure online cryptocurrency wallet. No additional apps are needed. If you already have an account, skip to the next step.
Step 2
Go to the main page. On the top bar of the website, select 'Trade options'. Then, select the cryptocurrency you want to trade by pressing the corresponding tab on the row above the ads table. For this example we'll choose BTC. To the left of the cryptocurrency selector you should select 'Put' options. In the left column you should then select the 'Sell' tab. If you wish to change the country,currency, payment method or specify the needed amount, click on the 'Show search menu' button, choose the desired parameters, and press the search button. If you're unsure how you want to be paid, choose 'All online offers' as your payment method. The site will list traders available in your region.
Step 3
From the list of advertisements, choose one from a trader with a good reputation score and a high amount of trades. A green circle means the trader has been online today, a yellow circle means they have visited the site this week and a grey circle means that the trader hasn't been here for over a week. You can click the 'Sell' button to view more information about an advertisement.
Step 4
After you press the 'Sell' button you'll see more information about the advertisement, including the terms of the trade. Read through them before submitting the trade request, if you don't agree with them you can go back to the previous page and choose another advertisement. To start the trade, type in the notional value or the underlying BTC amount of the option and click the 'Send trade request' button to start the trade.
Step 5
Once you've started the trade, on your right side you'll see the section that'll guide you through the trade's flow. The first thing that happens when you sell a put option, is that you need to make a cover payment using the trade's payment method in the amount displayed on the trade page. The cover amount equals the trade amount minus the premium. If you fail to complete the payment within the payment window, the buyer will be able to cancel the trade. Once you've completed the cover payment, press the 'I have paid' button. After the buyer confirms they've received your cover payment, the option contract will activate.
Step 6
To your right you'll see a countdown timer that'll show you when the option expires. If it does, you'll receive the BTC equivalent of the notional amount at the current market price.
Step 7
Exercising the option would release all the underlying BTC to you - which would conclude the trade.