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Trading Bitcoin Binary Options Without Getting Scammed – 88% ROI??
If you’re looking into Bitcoin trading you’ve probably encountered companies like Trade Rush which provide Bitcoin Binary Options trading.
What Are Bitcoin Binary Options ?
Bitcoin Binary Options is a form of trading in which you predict if the price of Bitcoin will rise or fall in a certain amount of time. If you’re correct you earn the option’s payoff, if you’re incorrect you lose your investment. Each Bitcoin binary option has a specific expiration date at which the option is checked to see if it’s “In the money” (you were correct) or “Out of the money” (you were incorrect). Each Bitcoin binary option also has a specific payoff that you can win. They are called “Binary Options” because the outcome is either win or lose, there’s nothing in between.
An example for Bitcoin Binary Option Trading
For example, let’s say it’s 10am and the BTC price is $575.505. You believe that by 5:10pm on March 17th the price will be higher than $575.505 so you buy a “Call” option. If at 4pm the BTC price is higher than $575.505, you earn the payout of 73% of your investment, if it’s lower, you lose. Another example is if you think the BTC price will go down. You then buy a “Put” option. If the price at the expiration time is lower than the original price, you earn the option’s payout.
The Upside of Bitcoin Binary Options
- You don’t have to know the exact value of Bitcoin when the option expires, only if it increased or decreased.
- You don’t have to have extensive knowledge in trading to participate in Bitcoin binary options.
- Payout can reach up to 88% return on investment.
The Downside of Bitcoin Binary Options
As you may have noticed, Bitcoin binary options have a great similarity to plain gambling. If you study binary options in detail you will see that the trading platform will always have an edge over the investor (you need to win over 50% of the time just to break even). Because of the unpredictable nature of Bitcoin binary options many countries have strict regulations regarding who is allowed to operate such a business, it is advisable to check if the exchange were you wish to trade Bitcoin binary options is regulated. Also Bitcoin options can become highly addictive (just like gambling), and no matter how knowledgable you are, it’s impossible to consistently predict what Bitcoin prices will do within a short time frame.
Bitcoin Binary Options Exchanges
Today, two companies have taken the advantage of Bitcoin’s increasing volatility and are allowing customers to trade in Bitcoin binary options: TradeRush – Accepts customers Worldwide. Top Option – Does not accept US customers.
Be careful! You’re Capital is At Risk
If I wasn’t clear enough until now, then keep in mind that trading in Binary Options is highly speculative and involves a significant risk of loss. Such trading is not suitable for all investors so you must ensure that you fully understand the risks before trading.
Bitcoin Binary Options
The entry of Bitcoin into the world of digital payments has paved a way for other crypto-currencies to emerge as well. And whether you see it or not, the future of Bitcoin is as bright as the sun. Soon enough, Bitcoin will become a commodity and a standard form of money that people can widely use to pay for any of their purchases.
Bitcoiners are taking good care of their bitcoins because they believe that Bitcoin prices will skyrocket soon. For this reason, many Bitcoin owners are now opting to use Binary Options to improve their Bitcoin investments as much as possible.
Bitcoin will without a doubt become a mainstream currency in the near future. Trading binary options today will help you get the most out of your precious Bitcoins tomorrow. If you are not familiar with binary options, read along to know the basics, the drawbacks and more importantly its benefits.
What are binary options?
Binary options is a type of option wherein investments can turn into fixed amounts at a certain time frame or it can turn into nothing at all. Binary options allow traders to predict the volatility of assets whether the prices will rise or fall at a certain period of time. If the binary options prediction is correction, then traders will harvest profit. Otherwise, if the binary option prediction is incorrect, then the investor will incur an investment loss. Another form of the same thing are Bitcoin Prediction Markets – which are not limited to stocks or currencies – you can predict virtually everything.
Binary options basically means that you can either buy an option when the prices are up or when the prices are down for a given time. Binary options trades involve all or nothing bets.
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Investors have the chance of possibly maximizing their investments if they make the right options. If their predictions are incorrect then they’ll lose everything they bet on. That is why binary options is also dubbed as all-or-nothing options, digital options and Fixed Return Options.
How does trading in binary options work?
Trading in binary options is pretty simple if you already understand how things work. You need to first select an asset you want to invest in and then make a prediction on whether that asset’s price will go up or down at some point in time.
Once you have decided on how to attack the assets, you then make a deal with the broker you are working with. After selecting the amount you want to risk, the broker will then provide you with projected profit (usually a percentage ranging from 60-90%) if your predictions are correct, otherwise you will lose everything you invested. So binary options trading is much simpler than regular crypto currency trading – but it also has the downside that there is just a option of win or loose your whole “portfolio”.
The best thing about binary options is that everything is initially laid out before you even commit to trades. So you really know what you’re getting yourself into before you invest any amount into an option.
The thing to remember when trading binary options is that there are expiry times that will ultimately work best for you. Depending on your preferences, you can trade for a short period of time or longer. The maturities of options will also vary depending on how long you set the expiry time to – you can set it to 60 seconds, 5 minutes or for hours whichever suits your option commitments. Once the binary options trade is locked in, all you need to do is wait for your options to mature.
Why use Bitcoin for binary options?
Bitcoiners who don’t want the effort to learn profitable trading on the crypto exchange markets, can take advantage of binary options to ease trading Bitcoins and turn their investments into profit. Trading Bitcoins using binary options can be d one through an online platform which makes transactions a lot easier and more convenient. Bitcoiners can trade any amount anonymously whenever and wherever they want to. That’s the best thing about all-Bitcoin binary options platforms – they facilitate anonymous trading activities.
There are different types of investments you can do with binary options.
Call and Put Options
The most common type is the Call and Put option. “Call” investments are when you predict that the price of the asset will rise at a certain time frame. “Put” investments on the other hand are assets that are predicted to fall in prices at certain point in time. Bitcoiners can choose to either place a Call or Put option investment through a binary option platform or brokers that accommodate Bitcoin trades.
One Touch Options
One Touch options on the other hand are high yield options. When trading using the One Touch method, you must be certain that the price of the asset you invested in will touch or even exceed the predicted price while the trade is still live. Otherwise, the amount invested will be lost. The main advantage of using such trading method is that expiry times usually run up to a week so there’s ample time for the prices to reach a touch scenario.
Range trading, sometimes called boundary option, is another binary options trading method that feature high returns in all market conditions. Range trading works by betting money with a given price range or boundaries. The investor either select whether the price will hit ‘in’ or ‘out’ of the price boundaries. Investors will profit or lose investment upon maturity depending on whether the price touched or did not touch one of the set boundaries.
10 Minute Options
Another common type of binary options trade is the 10 Minute options. Binary options brokers usually set their default time limit to 10 minutes. With such trading options everything must be extremely calculated – meaning you need to be familiar with the daily price movements in order to get the most out of your investments.
60 Second Options
60 second options are also popular but they offer lower investment returns since the trades are done in a fast paced state.
Long Term Option
Long-term binary options are much more preferred because they offer lesser risks. Traders will also have more time to analyse the movement of the prices with longer binary option commitments.
What are binary options brokers?
Bitcoiners can trade Bitcoins by using binary options brokers to facilitate trading activities. Since Bitcoin is now growing in popularity, many brokers have already added the crypto-currency to their assets.
Before you start trading for Bitcoins though, you need to first know the different types of brokers that can help you deal with all kinds of technical stuff about binary options and Bitcoins as well. Combining binary options and Bitcoins together will give you a headache but with the right binary option broker, things should be a lot easier to understand and follow. Note that not all binary option brokers trade for Bitcoins so it is important to determine which ones accept the crypto-currency and which don’t.
There are basically two kinds of Bitcoin binary options brokers: (Type 1) The ones that use Bitcoin as the sole medium of exchange, and (Type 2) those that use Bitcoin as the underlying asset. Type 1 Bitcoin Binary Option Brokers are those brokers that specifically trade for Bitcoins. If you have Bitcoins, you’ll want to trade using the Type 1 broker so as to maintain your privacy.
What risks are involved in trading binary options?
Like any other type of trading or gambling, binary options has its own pros and cons. Risks are a great part of trading in binary options. If you don’t like taking risks, then you won’t enjoy trading in binary options.
The risks you will encounter when trading in binary options are the following: market risk, fixed profits, high probability for loss, illiquid and unregulated (well, most brokers are). Since the market mightmove in a different direction without any warning, binary options predictions may not exactly go as planned or as analysed. And even if the market do pinpoint exactly to the movement you predicted, the gains are fixed profits – meaning, you get a fixed amount even if the broker makes more from your investment.
The biggest risk when trading binary options is the sparse regulation with such trading system. If you get involve with a broker that run unscrupulous practices, then you immediately incur an investment loss.
To minimize the risk of trading binary options, you need to choose a binary options broker that already has a reputation of providing protection rate and would help limit your losses. Make sure that you really like the broker’s platform and services / features before you work with him or her. This way, you will have the confidence of trading binary options knowing that you can control the risks that comes with it.
Is binary options investing or gambling?
When trading with a binary options broker, the investors are actually trading against that broker. Meaning, when the investors make a profit, the binary options brokers meanwhile loses money. Thus, trading binary options is both an investment and a way of gambling like bitcoin poker or bitcoin sport betting is, too.
Binary options is an investment in a sense that you can be profitable if you choose the right options. Binary options trades involve gambling because you either win big or lose everything.
It doesn’t really matter what binary options actually is – whether it’s profiting through investing or gambling is not the real concern here. What’s the real issue is which trading brokers are legit and which ones are scams.
If online gambling is forbidden or restricted in your country, chances are high that binary options might be illegal too – but its up to you to figure that out in your specific country. But as theres no way to restrict bitcoin transactions, you can of course use a VPN service to get a IP from another country and trade binary options over the VPN connection. Make sure you dont use a USA or UK IP address because these are the countries where most binary option brokers themselves have restrictions for the users. Of course, if you are from the US or UK, you know that already.
Can I trust my broker?
Binary options brokers are not easy to find – reliable binary option brokers for that matter. There are a lot of so-called binary option brokers on the internet today but most of them are actually scam artists. Which is why it is important to scrutinize the binary options brokers before you start trading with them.
There are precautionary measures that investors can do to make sure that they only transact with a credible options broker. First of all, don’t ever trade with a broker that operates in a country that does not have strong regulatory system. Make sure that the broker you engaged with operates within the jurisdictions of a country that acknowledges binary options trades.
The rule of thumb is if the binary options broker has a lot of complaints about him, then he is probably not a good broker to trade with so avoid using his services at all cost. Consider any negative comments as a warning sign indicating that the broker might be a scam artist or simply an incompetent binary options broker.
What better way to determine the credibility of the binary broker than to give his services a test run – that is if the broker is willing to offer you a trial test. See to it that the broker’s platform suits your binary options strategies. Most binary options brokers are registered with reputable companies and they are more transparent with their operations.
Investors may also check out forums to see any discussions about binary options scams. There are a lot of information you can get via forums and chat rooms from people that have Bitcoin binary options experience.
Is there really a best binary option strategy?
Investors can get better investment outputs by using a specific binary options strategy to improve their chances to be profitable. Note that there is really no perfect strategy and success will always depend on the economic stability. These binary options strategies are basically guides to help investors foresee how their investments will turn out.
One binary options strategy involves “Calling” or “Putting” at the best possible time. There is also the strategy of “right timing” to generate profit regardless of how skilled or not the trader is. A strategy that basically focuses on economic statistics can also help traders get better investment returns. Certain tools are also provided by the brokers to give the investors projected positions of their assets and their prices at a given time frame.
The simplest way to improve your chances to be profitable is to tune in to financial news and check out the market figures yourself. Use your technical analytis skills to determine which assets or stocks are making profit and then use such information to make the right binary options investment.
The best strategy to use is the combination of all binary options strategies. Remember that binary options involve risks so using all the possible strategies will surely provide investors with better trade outcomes.
How can I trade anonymously with Bitcoin?
To ensure that there are no money laundering and fraud taking place, registered and licensed binary options brokers need to confirm the identities of all their customers. This is an industry process called the “Know Your Customer” (KYC).
Since most brokers would ask investors / traders to provide a form of identification, those who want to maintain their privacy wouldn’t be able to trade with such brokers unless they compromise their identity.
Which providers allow deposit in Bitcoin?
The best way to avoid identity verification is to make use of binary options brokers that only accept Bitcoin as the mode of payment / deposit process. There are various Bitcoin-only binary options brokers out there which traders can use to start growing their investments.
Some of the all-Bitcoin binary options trading platforms include Trade Rush, AnyOption, Beast Options and Fortune Jack among others. Use these brokers to maintain your anonymity while trading Bitcoins. Here’s a list of brokers that accept Bitcoin deposits and withdrawals.
If you dont have any bitcoins yet, there are several ways of getting them. The easiest way is to buy bitcoins with creditcard at one of these websites.
Are Bitcoin binary options against the law?
So far, Bitcoin gambling is still legal in most countries. There are still no specific laws governing the activities associated with Bitcoin gambling. Brokers that accommodate Bitcoin trades exist because they operate within a jurisdiction where Bitcoin gambling / investing is legal.
As long as a Bitcoin binary options operator has a legit operating licence regardless of where it is based in, investors can be assured that all trading activities are 100% regulated. For Bitcoin platform operators, most of them have licences issued in Costa Rica, Eastern Europe and in Panama City.
For whom is binary options useful for?
Binary options isn’t for everybody. If you don’t like taking risks, then binary options is definitely not for you. Know that the price you’ll get with binary options is either $0 or with a maximum payout of up to 90 percent.
If you would like to invest into something that will give you high return on investments at a short period of time, then consider trading binary options. You don’t need to trade big too, most binary options brokers accept small bets to allow traders to get a feel of how their binary options platforms work.
With binary options, you can multiply your Bitcoins as long as you stick with a strategy that works. Remember, binary options involves prediction, timing, volatility and risk so simply use licenced binary options operators to avoid the hassle of being scammed or tricked by an unlicensed broker.
In recent times Binary Options have been the subject of a lot of negative press. The key question is whether this is a true ‘trading system, or merely gambling?
Whether you feel the edge that the trading sites have is unbeatable, or whether insights and knowledge of the markets can help you trade your way to riches – there are still big advantages to using Bitcoin instead of dollars or Euros to trade.
First up, this article looks at how Binary Options trading works and the associated pros and cons. After that, you’ll find some information on how to get started with Bitcoin Binary Options, aimed at those not familiar with crypto-currencies. Finally, some of the big advantages of BTC trading are discussed.
Top BTC Binary Options Sites
Top BTC Binary Options Sites
How Do Bitcoin Binary Options Work?
To begin with it is important to understand how Binary Options Trading works. This is the same whether you trade in Bitcoin or any other currency.
The ‘binary’ part of Binary Options comes from the fact that the outcome of any trade has only two possible results. You either win or lose.
There are many markets available, and you are betting that the price of a stock, commodity or currency will or will not be above a specific level at a set time in the future. Trades have different durations, ranging from 60 seconds to a week or more. Here is a simple example based on a stock.
The current price of a stock is $1000. You make a bet that the stock price of company X will be higher than $1000 by the close of the markets tomorrow, trading $100 on this outcome. This is a binary result, either the stock will be over $1000 or it will not. If it is, you will be paid $170 (the exact amount will depend on the site and your contract, though 1.7-to-1 is typical). If you lose then you’ll get $15 of your stake back (again, this can vary). If you preferred, you could also bet on the ‘below’ option, betting that the price of the stock will drop below $1000 by the close of markets tomorrow. This outcome has the same pay-outs.
Every time you make a trade in Binary Options, you will be trying to use your knowledge of the markets or individual companies to beat the spread and win some cash. This is not as easy as it seems on the surface, and the sites have a long term edge of up to 7.5% on the trades. Having said that many people do trade professionally, making a profit by staying selective or sticking to an area that they understand well.
Options that Include Bitcoin Prices
Many of the earliest exchanges which allowed you to deposit and trade in Bitcoin only include contracts on the price of Bitcoins themselves. For example you could bet that the price of Bitcoin would go up by 5% in a set period (as measured in dollars). Nowadays, the exchanges which allow you to deposit and bet in BTC have expanded, and offer a huge range of markets including stocks, currencies and commodities.
How Do I Get Started With Binary Options Bitcoin Trading?
There are 3 steps to get through before you can make your first Bitcoin Binary Options trade. These are all easy enough once you know what the process is.
First of all you need to buy yourself some Bitcoin. In order to hold this, you’ll need a Bitcoin wallet. There are two types – though the standard online ones offered by major sites including BTC-E and CoinBase are sufficient for general use. You can use those same global portals to buy your first coins (or micro-Bitcoins). Once you gain experience at using this currency, then you will be able to find other places to buy the coins and transfer them to your wallet.
Next you need to select a Binary Options site. Those that accept only Bitcoin will usually allow you to register anonymously (with only an e-mail address). Some other sites which primarily work with mainstream currencies will require some personal information. There are a lot of sites to choose from. It can make sense to do a little background checking before you jump in.
When you are ready to deposit, go to the cashier section of your Binary Options site and hit the ‘Deposit Bitcoin’ button. This will usually give you both a long string of letters and numbers and a QR code for mobiles. The string is the Bitcoin receiver Id – you will use this to transfer the Bitcoin from your wallet to the site. This transaction should be instant, and you’ll be up and running in just a few minutes and ready to make your first trade.
Withdrawing your winnings is just as easy. You’ll put the string which identifies your Bitcoin wallet into the cashier, and click the ‘Withdraw’ button.
Binary Options are gaining popularity at a rapid pace, and by trading in Bitcoin you can enjoy this new form of trading without the transaction fees and document checks associated with using mainstream currencies. However, as with all forms of gambling, be sure to exercise caution, as binary options websites have a larger edge than many other gambling games.
1xBit binary options review
1xBit first ran a government currency broker, 1xbet. Instead of just adding bitcoin transactions like a lot of government currency brokers have, they took the right choice and made a stand-alone end-to-end crypto site.
There is a lot going on here
- Binary options and financials.
- Sports betting and live betting including a betting exchange, horse racing, trots, greyhound racing and cockfighting (review)!
- Casino including live casino, XXX games and games like rock-paper-scissors and Russian roulette (review).
- Poker room (review).
- Dice game (review).
The sports betting is decent, everything else is bad.
1xBit have an interesting forex options trading platform where you can make limit orders and have stop losses rather than just binary options. The platform does not operate on the weekend!
It’s annoying that you have to transfer funds between your main balance and a separate binary options trading balance for no good reason.
There is no set payout amount because that will be determined by the parameters you set when you make the option. Generally the payouts are very good, with a smaller commission in 1xBit’s than most brokers.
Range of options
1xBit used to have 10 currency pairs, which is how they got into this website. However for the moment those are not available and there is only a random tracker with option durations of 5 minutes or 1 hour.
The website is cluttered and clunky, trying to cram too many things into 1 place. There are too many options and they don’t always work as expected.
We did not like it at first but it grows on you as you use it. The forex trading is confusing at first but after placing a few trades you get used to it.
Unique deposit addresses: Not available.
Confirmations before trade: 6 for casino games, 1 for everything else.
Withdrawal time: Not instant but less than 1 hour.
Player to player transfer: Not available.
The minimum withdrawal is way to high, at 5 m฿! There is no withdrawal fee so this policy may have came about when bitcoin transaction fees were very high.
1xBit supports a huge rang of 18 different cryptos!
Customer service channels available: Live chat and email.
Speed of replies: Live chat usually reply instantly but are slow to actually help, or sometimes they just forget about you. Emails are quickly replied to.
Accuracy of replies: Okay if you are asking a question about 1xBit’s trading platform and rules. Bad for anything else. They are not knowledgeable about crypto and they are useless if you have a bug or issues. Live chat will waste your time getting nowhere then ask you to email support instead.
Real life customer service test
It does not work on weekends, unfortunately. Deposit via Bitcoin may take up to 24 hours depending on the priority you have chosen. There is no confirmation limit however.
Notes: It took multiple followups over about an hour to get the exact times for the first question. The answer to the second question is incorrect and shows a lack of understanding about bitcoin transactions. After I tried to explain the number of confirmations is not a limit but rather a requirement they will have set, probably between 1 and 6, the customer service staff would still not get the correct information.
Privacy and security
Information required at signup: Email address.
2 factor authentication: Available.
1xBit has the same thing up at multiple URLs. The main one is 1xbit.com but they also use and will link you to things like 1x-bit.com and 1xcrypto.com where you login is preserved. This is confusing and insecure.
Investors in the United States of America are geo-blocked by 1xBit.
100% first deposit bonus up to 1000 m฿. The funds go into your account gradually as you trade and you can easily opt-out.
There are several different bonuses and special offers depending on your interests. It’s nice that the terms and conditions are explained fully and clearly.
1xBit’s binary options are below par. The range is poor and the platform is not intuitive to use. Give it a shot if you want a binary options site that also has a sportsbook, casino and poker room.
Is gambling with Bitcoins on Binary Options real? See here!
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