I would be very careful with using this for risk management. It has very different characteristics from exchange-traded options contracts that you may be familiar with in the US. Purchasing call options is pretty safe (excluding security risks, of course), but purchasing put options is quite dangerous. They have a margin requirement of 20% on put options that are written by users, but critically, this is the maximum amount of liability the put writer is taking on. So it's actually not a put you are buying, but a "bear put spread" with a lower leg 20% below the upper leg. This makes it unsuitable for managing tail risk, which, for bitcoins, is significant. For example, if you had bought a contract at $1100 which is roughly the top of the bitcoin market in December, and it fell to $600, you would only be covered for $220, and would be out $280 plus the cost of the contract (Edit: apparently this isn't correct, in another comment they say that you get the cost of the contract back).

The fact that they require 100% margin on call options isn't as much of a concern (for simple risk management applications), because you still gain the exposure to the underlying bitcoins. It would be like if the exchange required you to submit 100 shares of MSFT to them to open the call contract, rather than using cash settlement. It's not good for liquidity because it makes it hard to be an options trader, but there will be very little liquidity anyway the way it's set up currently.

Another concern is that the guide doesn't disclose what they use as the underlying price for the contract, what exchange they use as the benchmark.

It should also be noted that they appear to require photo id in order to withdraw any funds from your wallet, which is likewise not disclosed in their guide.