Binary options have become more and more popular in the last 2 years. This type of trading has been desired among new traders since they do not need to buy anything, they only predict whether the asset will move in time or within the specified time. Those trades happened in a short time (30 sec, 1 min, 5 min) but it can also be months. If the trader predicted wrongly, they will obviously lose their money. If the trader was right in his prediction, they will receive 80-85% of payment, depending on the broker.
Binary options are sometimes referred to as “all or nothing options”, “digital options”, or “fixed return options” (FRO), which are traded on the American Stock Exchange.
Bitcoin (BTC) it is a digital currency that is created and held electronically and no one controls it. “Bitcoin is an online payment system invented by Satoshi Nakamoto, who published his invention in 2008, and released it as open-source software in 2009. The system is peer-to-peer; users can transact directly without the need for an intermediary. verified by network nodes and recorded in a public distributed ledger called blockchain. The ledger uses its own unit of account, also called bitcoin. The system works without a central repository or a single administrator, which led the US Treasury to categorize it as a decentralized virtual currency. Bitcoin is often called the first cryptocurrency…”
Bitcoin as a currency in binary options trading
Bitcoin is now a widely used currency and many trading platforms accept it as a payment method for their customers’ trading deposits. There are many benefits of using Bitcoin as a currency. The first benefit is “the fact that the transaction cost is the lowest among all forms of online payment. This is the very reason why Bitcoin was created in the first place, to lower the cost of online transactions. Since there is no central authority. Bitcoin management, no service fee is paid when receiving or transmitting payments.” Another reason for traders to use Bitcoin as a currency is that Bitcoin itself is traded and they can earn extra Bitcoins this way.
“By having all business transactions denominated in Bitcoin, a trader is able to protect himself from the fluctuation of this cryptocurrency while at the same time earning more through the profits earned in the trade.”
Bitcoin as a commodity in binary options trading
With a recent popularity of Bitcoin and its acceptance as a currency, many binary options platforms began to use Bitcoin as one of the currencies for trading. so as a resource. Stockbrokers see value in trading BTC against flat currencies, mainly against the American Dollar.
Today there are 2 main types of Bitcoin binary options platforms:
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First generation brokers – binary options platforms that allow trading on Bitcoin
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Second generation brokers – platforms that offer Bitcoin financing and Bitcoin trading
First Generation Brokers – brokers offering Bitcoin trading:
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Coinut – only Bitcoin options exchange platform; programmed as a robust and distributed in the Linux operating system coinut.com
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BTClevels – Bitcoin binary options trading platform; with or without registration, no hassle btclevels.com
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24 Options – one of the first brokers that started offering BTC as an asset 24option.com
Second generation brokers – brokers offering financing and Bitcoin trading:
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Traderush Binary Platform – accepts BTC deposits traderush.com
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Nadex trading platform – accepts BTC funding and allows BTC trading; offers limited risk, short-term trading, transparency and a fully regulated market nadex.com
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Satoshi Option trading platform – accepts BTC funding and allows BTC trading; does not require account registration or personal data. Payments are almost instantaneous and the service is accessible from anywhere in the world satoshioption.com
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BTCOracle Platform – Bitcoin only platform – enables BTC funding and trading offering few wallet options and full transparency btcoracle.com
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Bitstamp Platform – As above, BTC only platform – allows BTC trading and funding but requires bitstamp.net login
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Bitcoin Wisdom – allows you to trade 3 digital currencies, Bitcoins, Litecoins, Altcoins vs. other flat currencies and requires login bitcoinwisdom.com
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Beast Option – allows BTC financing and trading of Bitcoins and Litecoins; guarantee fairness in prices regardless of market fluctuations beastoptions.com
When choosing a Bitcoin broker it is important to check their terms and conditions, paying particular attention to the information that their Bitcoin Assets are stored in “Deep Cold Storage”. It means that Bitcoins are secured and stored offline, where they are not susceptible to hackers.