Buying or trading bitcoins has quickly become one of the most popular and potentially profitable investing methods. The value of bitcoin in relation to other currencies (typically USD) varies wildly almost from minute to minute, making it very interesting from a binary options point-of-view. Buying actual currency or using CFDs on longer time spans should also be considered highly interesting options.
There are now also brokers that accept bitcoin, and other cryptocurrencies, as deposit methods. So traders can fund their account, and be paid out, in Bitcoin or Ethereum etc.
Bitcoins are a worldwide phenomena and a growing interest in binary options. The digital currency has a wickedly volatile exchange rate making it perfect for binary trading of all expiries. The popularity, and notoriety, of the currency also makes it a prime target of potential scams and the like, so be aware and only trade with trusted brokers such as the ones we list here on binaryoptions.net.
To begin trading bitcoin binary options you should have at least a marginal understanding of what they are. Basically, Bitcoins are digitally created currency units that can be spent anywhere Bitcoins are accepted. They are meant to be a free and easy system for international trade that is not reliant on central banks or charges outrageous fees. The coins are based on a very complex cryptographic algorithm that produces value in a process referred to as “mining”. Miners, usually tech savvy computer operators, create the coins by running the program, which strictly limits the number and pace of coins that are “mined” ensuring they are not devalued. As coins are mined they become available for sale, trade or exchange. Bitcoins are now used to exchange currencies around the world and for international trade but have yet to be embraced by the world powers.
A few years ago, the number of brokers offering Bitcoin as an asset to trade was very low. Now, the opposite is true. Several brokers now offer trading on Bitcoin and also some of the lesser-known crypto currencies such as Ethereum or LiteCoin. So traders now have a range of choices when it comes to finding a broker that offers cryptocurrency trading. If your current broker does not offer it, consider moving.