Bitcoin is a Cryptocurrency, which can be spent, saved, or invested, also it can be stolen too. Trading with Bitcoins was regarded as risky, however the current trends show that it is a big hit the options sector. This decentralized currency isn’t regulated by any Government, or by central authority.
What determines the price of Bitcoins?
Bitcoin’s price is determined according to the supply and demand ratio. Price increases once the demand increases, the rates plummet downwards once the demand falls. Bitcoins in circulation are limited, and new ones are made in a very slow rate. Because it does not have enough cash reserve to maneuver the marketplace price, its cost can be extremely volatile.
Bitcoin trading is popular because of
– Low inflation risk – Inflation is the biggest issue for traders, because all the currencies lose some of their purchasing power once the reserve banks keep printing more currency. With Bitcoin minting system being limited to just 21 million Bitcoins, it hardly gets impacted with inflation.
– Low collapse risk – Currencies fluctuations depend on government trade policies, which sometimes cause hyperinflation, as well as lead to the collapse of currency. Bitcoin is really a virtual universal currency, which is not regulated by any government.
– Simple, safe and cheap – The Bitcoin payments occur between peer-to-peer without any intermediary, and that’s why it is simple and economical.
– Easy to carry – Bitcoins worth million dollars could be carried in your wallet, inside a thumb drive. This can’t be done with gold or cash.
– Untraceable – Issuance of Bitcoin is not regulated by any government, therefore the chance of seizure is nil.
Options Bitcoin trading platform
Binary options brokers are getting familiar with interest in these Bitcoins, and its constant fluctuating values. Therefore they are using this opportunity to provide traders with the latest volatile crypto-currency as an additional payment method. Bitcoin brokers providing crypto-currency as trading option include –
Body touch option – Cryptomoney can be done with AnyOption or one-touch option. For example the current popular currency pair is BTC/USD.
– SetOption – The latest option available for asset trading is BITCOIN/USD.
Bitcoin brokers provide a simple online trading platform. All you need to do is visit the website, enter the information you have, and make an account. You can begin with demo account to know the market action.
The trading screen is straightforward.
– Pick the price direction (UP/DOWN)
– Choose the timeframe
Is Bitcoin trading secure?
Bitcoin network is probably the world’s vast spread computing project. The most common weakness here is the user errors. Bitcoin wallet files can get lost, stolen, or deleted accidentally just like any other files within the digital form.
However, users can use sound security ways of protect their funds. Alternatively, you could pick the service providers who offer high-level security, as well as insurance against loss or theft.