Bitcoin gambling has become more and more popular with traders over the past years, with the crypto-currency gaining the interest of the markets thanks to its growth potential, but also, why not, to its high volatility. This makes speculations more and more lucrative for those who understand the system and have enough information to make educated guesses on the bitcoin.
And with another tool becoming, in its turn, more and more popular with investors – namely the binary trading – it was a matter of time before the two unite in one interesting tool: the bitcoin binary trading option. How does it work? Well, first let’s define the binary trading: it is an instrument allowing traders to place bets on the value of an investing solution (stocks, commodities, currencies, bitcoin value) at a certain point in time. The binary option has a determined value, called option premium, a strike price and an expiry time that can range from under one minute, to more than a month. The trader needs to determine if the BTC price will go above or below the strike price at a certain point in time.
Lucrative and anonymous
Basically, the mechanism works like this: the bitcoin is 450 USD at the market opening, and the trader believes it will close higher. Then, he buys a binary option, and if the BTC/USD closed over 450, he gets 0.01 BTC. Besides the high stakes in terms of gain potential, the binary trading with bitcoins has another advantage, and that is the anonymous characteristic of the trading. Once can trade any amount of bitcoins via an online platform at any point in time via the bitcoin binary trading system.
But being a speculative activity, like any other bitcoin gambling, the binary trading has its share of cons, as well as pros. And the volatility of the bitcoin is maybe the biggest one. However, this offers the highest winning potential as well.
BTC in the wallet in a matter of hours
Another strong point in using bitcoin with you binary trading comes from the bitcoin itself. You can cash in the profit in a matter of hours, provided you win. Basically, once you bet correctly on the closing value of the bitcoin, you receive your BTC directly in your wallet. No banks involved, no money transfer with high fees and long period of time needed per transaction. It all happens in the same day.
Wide variety of options
Another strong point of this system is the wide variety of options, based on the timeframe – minutes to hours, days or months. The brokers offer the possibility to use it as a short-term instrument or a long-term instrument.
While this is not a very complicated system, much like in all bitcoin gambling, one needs to understand the trends and the patterns involved in the trading process. Once the information grasped, the speculation can be made on more accurate assumptions, with higher chances to reach expected results.