Bitcoin is a cryptocurrency that can be spent, stored or invested, and it can be stolen. Trading with Bitcoins was considered risky, but current trends show that it has become a big hit in the binary options sector. This decentralized currency is not regulated by any Government or any central authority.
What determines the price of bitcoins?
The price of Bitcoin is determined by the ratio of supply and demand. As demand increases, prices rise, and as demand decreases, rates fall. Bitcoins in circulation are limited and new ones are created very slowly. Because there are not enough cash reserves to change the market price, its price can be extremely volatile.
Bitcoin trading is popular because:
- Low inflation risk – Inflation is the biggest problem for traders, as all currencies lose part of their purchasing power as reserve banks continue to print more currency. The Bitcoin drum system is limited to 21 million bitcoins and is not affected by inflation.
- Low risk of collapse – Currency fluctuations depend on the government’s trade policy, which sometimes leads to hyperinflation and even the collapse of the currency. Bitcoin is a virtual universal currency, not regulated by any state.
- Simple, safe and cheap – Bitcoin payments are made between peer-to-peer without any intermediaries, so they are simple and inexpensive.
- Easy to carry – You can carry a million dollars worth of bitcoins in your pocket, in your memory stick. This cannot be done with gold or cash.
- Unnoticed – Bitcoin issuance is not regulated by any government, so the risk of seizure is zero.
Binary Options Bitcoin trading platform
Binary options brokers are familiar with the popularity of these bitcoins and its ever-changing values. Therefore, they take this opportunity to offer traders the latest volatile cryptocurrency as an additional payment method. Bitcoin brokers that provide cryptocurrency as a trading option include:
One touch option – Bitcoin trading can be done with AnyOption or with one touch. For example, the current popular currency pair is BTC / USD.
SetOption – The last option available for active trading is BITCOIN / USD.
Bitcoin brokers offer a simple online trading platform. All you have to do is access their website, enter your information and create an account. You can start with a demo account to understand the market movement.
The trading screen is simple.
Select the price direction (UP / DOWN)
Select a time frame
Is Bitcoin trading safe?
The Bitcoin network is perhaps the most widespread computing project in the world. The most common vulnerability here is user error. Bitcoin wallet files, like any other digital file, can be accidentally lost, stolen or deleted.
However, users can use sound security strategies to protect their money. Alternatively, you can choose service providers that offer a high level of security, as well as insurance against loss or theft.