Until the last few years, most people had no idea what Bitcoin was. Though it was created as an alternate currency in 2009, it hasn’t been until the past two years that Bitcoin has exploded into a vastly popular currency used worldwide. Binary options traders have taken notice and many brokers now include it as a currency to trade. Mixing binary options and Bitcoin has numerous profitable benefits.
Bitcoin Isn’t Like Other Currency
Part of what makes Bitcoin trading so beneficial is the fact it’s unlike other types of currency. There is only a limited amount of coins – 21 million. This ensures the currency isn’t subject to inflation like other currencies. It’s a completely digital currency that isn’t controlled by any type of central bank.
Users love Bitcoins simply because they’re easy to use and they keep identities anonymous. This also means values continually fluctuate depending on current demand. While one of the earlier values was only $13, it has since fluctuated to highs over $1000.
Highly Volatile Means Easier Trading
Bitcoin is much more volatile than other currencies. Other types of traders often avoid it simply because the risk is too high. However, since you’re only betting on high or low with binary options, the volatility actually benefits you. Basically, if you keep track of the latest trends, the constant fluctuations in value should lead to more profitable trades.
Bitcoin Only Trading Platforms
Some brokers still don’t offer Bitcoin as an option. However, if your only interest is in Bitcoin, there are quite a few platforms that focus solely on the digital currency. In fact, these platforms often include the best news sources for tracking trends. Without all the clutter from other currencies, stocks and commodities, you can focus on what’s most important to you.
Millions Traded Daily
The popularity of Bitcoin isn’t slowing down any time soon. Millions of dollars worth are traded every day. For you, this means constant activity. Forget about slow days or close calls. Fluctuations with this currency are just a part of daily life. By the expiration each day, you will see a noticeable difference in price, making it easier to determine if the value will rise or fall.
Things To Consider
Before you jump into binary options and Bitcoin trading, remember you must follow trends just like with other currencies. Current economic and political conditions around the world greatly affect Bitcoin demand. By paying careful attention to these trends, it becomes even easier to master Bitcoin binary options trading.