Bitcoin is a cryptocurrency that can be spent, stored or invested, and even stolen. Trading with Bitcoin was considered risky, but the current trend shows that it has become a major blow to the binary options sector. This decentralized currency is not regulated by any government or any central authority.
What determines the price of Bitcoin?
Bitcoin is priced according to the ratio of demand to supply. When the demand increases, the price goes up, when the demand goes down, the price goes down. Bitcoin is limited in circulation, and new ones are created at a very slow pace. Since it does not have sufficient cash reserves to move its market value, its price can be extremely volatile.
Bitcoin Business Popular Reasons –
- Low Inflation Risk – Inflation is the biggest problem for traders, as all currencies lose some of their purchasing power when the Reserve Banks continue to print more currencies. Since the bitcoin minting system is limited to only 21 million bitcoins, it is rarely affected by inflation.
- Low landslide risk – Currency fluctuations depend on government trade policy, which often leads to high inflation and even currency depreciation. Bitcoin is a virtual universal currency, which is not regulated by any government.
- Easy, safe and cheap – Bitcoin payments take place peer-to-peer without any intermediaries, so it’s easy and cheap.
- Easy to carry – Millions of dollars worth of bitcoins can be carried in your pocket, on a memory stick. It cannot be done with gold or cash.
- Undiscovered – Issuing bitcoin is not regulated by any government, so the risk of confiscation is zero.
Binary Options Bitcoin Trading Platform
Binary options brokers are getting acquainted with the popularity of these bitcoins and its constantly fluctuating values. So they are using this opportunity to offer traders with the latest volatile crypto-currencies as an additional payment method. Bitcoin brokers offer cryptocurrency as a trading option –
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One Touch Option – Bitcoin can be traded with any option or one-touch option. The current popular currency pair, for example, is BTC / USD.
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SetOption – The latest option available for asset trading is BITCOIN / USD.
Bitcoin brokers provide a simple trading online platform. All you have to do is go to their website, enter your details and create an account. You can start with a demo account to understand the market action.
Trading screens are easy.
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Pick a price direction (up / down)
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Select the deadline
Is Bitcoin Trading Safe?
The Bitcoin network is probably the largest spread computing project in the world. The most common weakness here is the user error. Bitcoin wallet files, like other files in digital form, can be lost, stolen or accidentally deleted.
However, users can use secure security strategies to protect their cash. Alternatively, you can choose a service provider that provides a high level of security, as well as insurance against loss or theft.