Bitcoins have made their way into financial markets, though they are yet to become a mainstream currency. For many traders, Bitcoins are a great way to achieve financial gain. There are select few binary options brokers that are trading in Bitcoins, though it is worth trying out to experience the difference in returns between Bitcoins and normal currency pairs.
Bitcoin binary options allow for simple trading in the Bitcoin market, with controlled risk over short periods of times. There is the added benefit of security, since the binary options market is well regulated and highly transparent. Binary options trading for bitcoins enables a trader to experience this commodity, without having to actually own any bitcoins. This allows for protection from volatility in the market.
Why Should you Trade using Bitcoins?
- Exploring new avenues when trading is always thrilling, and the possible returns for using Bitcoins make it worthwhile. Bitcoins are easily separated from other funds, and since you cannot purchase most items using a Bitcoin, it is best utilized for financial trading and gains. This advantage allows you to separate your cash account from your Bitcoin account, so that you can pick and choose which type of currency you prefer when executing your trade transactions. Therefore, it becomes easier to track the source of your profitability.
- Traders are restricted from withdrawing from one account to fund the other. This is an incredible advantage as it ensures that you can your various accounts do not get mixed up. For the management of funds, this is ideal, if not essential.
- Bitcoins help relieve you from taxes. This is not because they are not taxed at all, it is due to the challenge tax authorities face when taxing this type of currency. While all the confusion over how the taxing should take place is being resolved, you will be lucky enough to receive some reprieve from the taxing. This is something that you should clarify with your individual broker.
Getting started with trading in Bitcoin
To get started, you need to identify brokers that deal with Bitcoins. Some of the brokers you can consider signing up with are:-
- Satoshi Option
This trading platform has been designed specifically to trade in Bitcoins. It is easy to get started as there is no need to register or even provide personal information. On this platform, once you invest in Bitcoins you receive a return or your winnings in Bitcoins. When you lose, you lose some of your Bitcoins and not money in other currencies. To withdraw your winnings is simple as it can be done in an instant from anywhere on the globe. If you are new to binary options trading, particularly with Bitcoins, you should take some time to read up on trading before you begin. It is worth noting that this site is currently not regulated, therefore, you should trade at your own risk.
This is one of the most popular brokers in the industry. Unlike Satishi Option that is fully focused on Bitcoins, this platform is a Binary Options Broker that features a range of assets in addition to Bitcoins. Any Option does not trade in Bitcoins but it offers Bitcoin options for traders. This means that you can still use your preferred currency to trade in Bitcoin contracts.
The payouts for Bitcoins are also attractive, and go up to 85% depending on the asset that was chosen for trade. The main trading vehicle on this site is BTC/USE as a currency pair.
This is possible the most popular trading platform on the market, and it is used by hundreds of binary options brokers. This platform offers bitcoin binary options in addition to a host of other assets.
Binary Options Trading continues to increase in popularity, as are new ways for traders to gain and make excellent profits. Bitcoins have a firm footing in financial markets, and it would be a challenge to find anywhere safer to trade in them, like in the Bitcoin Binary Options market. The discerning trader will make sure that these innovative options for investment are included within their portfolio, so as to spread risk, and also to benefit from the possible gains.