Yes, Binary used to accept Bitcoin as an underlying asset for binary options trades. Bitcoin is also accepted as a deposit payment option at Binary.
The online binary options trading platform covers a wide range of markets, including:
- Traditional stock indices like Nasdaq 100, the Dow 30, the S&P 500, FTSE 100, and Russell 2000
- Forex currency pairs like USD-CAD, JPY-USD, EUR-GBP, and USD-EUR
- Commodities like gold, crude oil, gas, silver, etc.
- EFTs
- Synthetic indices
More recently, Binary.com allows binary traders to trade on cryptocurrencies. You can take a long or short position on crypto-crypto pairs or crypto-fiat currency pairs. For instance, you can place a binary trade that the exchange rate for BTC-USD will go up in the next 5 minutes, 10 minutes, 15 minutes, 30 minutes, an hour, or even days.
If the BTC-USD exchange rate rises, you will earn a fixed profit. If you take a rising position on the BTC-USD and the value of bitcoin falls, you will lose your initial investment. It is that simple.
You can also go short or long on BTC-LTC, BTC-ETH, or BTC-DOGECOIN. The binary options for cryptocurrencies are numerous at Binary.com. And with a payout rate of up to 100% on standard Up/Down contracts, making money trading cryptos via binary options is more straightforward and lucrative at Binary.com. Don’t forget that Binary.com has a mobile app for binary trading, as well.
Binary.com also offers Touch/No-Touch, Rise/Fall, and High/Low trade types on Bitcoin, currency pairs, and other cryptocurrencies. Lookbacks, CFDs, and forex trading are also available.
It is also safe and reputable. After all, Binary.com is regulated by the British Virgin Islands Financial Services, Labuan Financial Services Authority, Malta Financial Services Authority, and the Vanuatu Financial Services Commission.
Trading Bitcoin Binary Options – A Quick Guide
Binary options are a popular way to invest in the financial markets. As Bitcoin becomes a global phenomenon, many traders wonder about the relationship between Binary Options and cryptocurrencies. Because the new currencies are very volatile, it may be simple to benefit from Binary Options. In the next part, we will demonstrate how to trade Bitcoin and other cryptocurrencies on safe platforms, as well as how to deposit and withdraw funds using Bitcoin.
How Binary Options Trading with Bitcoin Works
Bitcoin binary options are simple financial contracts that allow you to speculate on the price of the world’s most valuable digital currency. Binary options brokers trade Bitcoin as part of a pair, usually against USD, EUR, GBP, or JPY.
At the contract’s expiration date, there are only two conceivable outcomes: win or lose. If your forecast is incorrect, the trading site will retain your money. Bitcoin binary options brokers serve as the intermediaries.
If your prediction is true, you will get your first payout as well as a predetermined pay-out. Bitcoin’s volatility and randomness make it a very appealing investment opportunity for ambitious traders, with large payouts possible if you can perfectly anticipate the market. As you can expect, there are significant risk involved when you trade binary options, and Bitcoin is no different.
Why Trade Bitcoin and Cryptocurrencies with Binary Options?
The benefits of cryptocurrencies are well recognized around the world. It is a novel technique to conduct transactions without the use of a bank. Fees are lower, and transactions are completed faster. Furthermore, most cryptocurrencies are extremely secure and anonymous. These are significant benefits over the traditional fiat money system. As a result, there is a growing interest in adopting digital currencies.
The following cryptos are available for binary options trading:
- Bitcoin
- Bitcoin Cash
- Bitcoin Gold
- BTC/CNY
- BTC/INR
- BTC/LTC
- BTC/THB
- Dash
- Ethereum
- Ethereum Classic
- IOTA
- Litecoin
- Monero
- Ripple
- Tether
- Zcash
How to Trade Bitcoin/Crypto Binary Options – A Step by Step Guide
1- Choose your preferred broker
Not all binary option brokers are cut from the same cloth. You will find the good, the bad, and the ugly of the world of binary options trading. For this reason, you should consider the following factor to choose the right broker for your Bitcoin binary options trading:
Bonuses and signup perks
Brokers frequently provide appealing deposit incentives to new BTC binary options traders; nonetheless, it is worthwhile to compare the various promos on offer. If a bonus appears to be too good to be true, it probably is – only accept promotional offers from reliable companies. Untrustworthy brokers may utilize deposit incentives to discourage consumers from withdrawing cash, so read the terms and conditions carefully.
Availability of demo accounts
Demo accounts might help you get started with bitcoin binary options trading. These accounts enable traders to experiment with a set quantity of virtual money. Many bitcoin binary options firms provide free demo accounts to new consumers.
Safety and security
Sadly, there are several scammers in the bitcoin binary options industry. Some fraudulent platforms steal deposits from traders, while others manipulate trading circumstances. As a result, before enrolling for an account, it’s critical to check platform reviews. It’s also important to be careful of brokers that promise large gains with little risk.
Banking options
The finest bitcoin binary options companies make payments and withdrawals simple and inexpensive. Some brokers require a minimum deposit, which can range between $0 and $100. Crypto fanatics, on the other hand, may choose a bitcoin-accepting platform.
However, if a platform exclusively accepts BTC for deposits, be aware, since some shady brokers employ this strategy to make themselves tougher to track down.
2- Establish your trading strategy
A well-thought-out plan and strategy are imperative before you trade Bitcoin binary options successfully. Fundamental investors will need to stay on top of market events, such as new legislative limits on the usage of cryptocurrencies or statements that a firm wants to accept Bitcoin payments.
This will assist you in selecting the appropriate contract to capitalize on the predicted gain or decline in the value of BTC.
Charts and indicators may be preferred by technical traders. The finest Bitcoin binary options companies include interactive charting as well as a wide range of drawing and analytical tools. This can assist you in identifying patterns and trends, allowing you to select an appropriate binary options contract.
3- Take a market position – Select your strike price & expiry date
One of the primary benefits of Bitcoin binary options contracts is that you can predict your projected earnings and losses before you take a position.
However, choosing the appropriate strike price and expiration date might be difficult for newcomers. Choose goals that will increase your chances of profit while reducing your risk exposure. This assessment should be based on the strategy you created in step two.
4- Track and close out
Although some contracts enable you to leave your trade open until expiration to see if you win or lose, others may allow you to terminate your deal early if the market goes against you.
Similarly, if the market is heading in your favor, consider closing your trade early to safeguard your profits. Check the contract terms and conditions first, since options may contain limitations and stipulations regarding early departures.
5- Learn and practice
It takes practice to trade Bitcoin binary options successfully. So search for methods to improve your talents and learn from your failures in the past. Join forums to learn from experienced investors, or hunt for a supplier that offers social trading features.
How do I deposit bitcoin to binary com?
You can deposit bitcoin to Binary.com by following these easy steps…
- Sign up for a BTC account with Binary.com if you have not already done so
- Make sure you are signed in to your BTC Account at Binary.com
- Go to the Cashier section of Binary.com and click “Deposit”
- Copy a new BTC address from Binary.com to use to deposit bitcoin
- Sign in to your personal BTC wallet and enter the bitcoin address you just copied from your Binary.com account. Type the deposit amount and click the “Continue” button to proceed with the bitcoin funding. Note the transaction fees application, too.
- Confirm deposit: Review the transaction details and click the “Send Bitcoin” button to finalize the deposit.
- The bitcoin deposit should reflect on both your BTC account and your personal bitcoin wallet.
What is cryptocurrency binary?
Cryptocurrency binary is a form of binary options trading whereby you bet on whether the exchange price of cryptocurrencies like bitcoin, Ethereum, and Litecoin will go up or down in the next certain period, be it 60 seconds, 5 minutes, 10 minutes, or up to 30 days. You will get a prefixed payout if your prediction is correct. If you are not correct, you will lose your initial investment.
For instance, you can predict that the bitcoin value will rise or fall after the next 10 minutes. If you place a $20 trade and the fixed gain is $100, you will profit $80 if your prediction is correct. However, if your prediction is incorrect, meaning if the price of bitcoin falls below the current value after 10 minutes, you will lose your $20 investment.
Cryptocurrency binary can also involve predicting the rise/fall of cryptocurrency pairs like ETH-BTC, LTC-BTC, and so on. The same binary options trade types are available for cryptocurrencies, including Touch/No-Touch and High/Low.
Can I trade Bitcoin on binary com?
You cannot trade Bitcoin anymore on binary.com. Remember, as of the end of November 2021, Binary.com ceased to operate, switching over all operations to Deriv. Today, you cannot deposit Bitcoin or any other cryptocurrency funds into your Options Account at Binary.com. All Bitcoin trades and open positions on the platform were closed out and payouts were paid in full before 30, November 2021.
How long does a bitcoin deposit take on Deriv?
Bitcoin deposits are usually instant on the Deriv platform. The funds are credited to your online trading account once the transaction has been confirmed. Unlike other payment methods which can take up to 3 business days to be processed, Bitcoin funds appear almost immediately, especially if your account has been verified.
That said, making a deposit with your BTC wallet is really easy on Deriv…
Step 1 – Log in to your Deriv Bitcoin Account
Once logged in, go to the Cashier section of the website to start the deposit process.
Step 2 – Choose deposit
Once you selected Deposit, move on to copying your BTC wallet address
Step 3 – Open your blockchain wallet
The next step is to paste your Bitcoin wallet address into your blockchain wallet.
Step 4 – Wait for confirmation
The moment you finish the deposit process, you will notice that the transaction status is pending. The BTC funds will appear on your Deriv Bitcoin account once confirmed.