Bitcoin is an online payment processor founded by Satoshi Nakamoto in 2009. In Bitcoin, users buy or accept payment in the form of a digital currency called bitcoin. The value of the bitcoin currency is not based on gold or silver like the currency in real life. Instead, the bitcoin currency is based on mathetical formula.
Anyone can join Bitcoin and register for a free account. Users can mine the bitcoins with computing power. Each user is limited to create up to 21 million bitcoins. The bitcoins can be divided into smaller parts called Satoshi. You can use the bitcoins you accumulated in your account to purchase different types of products and services. Here is a list with binary options brokers that accept BTC deposits:
Bitcoin Binary Options Brokers
Luckily there are a few binary options brokers that accept bitcoin deposits and withdrawals. In addition some brokers even have bitcoin options which means that you can predict the price of bitcoins. Find a list with all bitcoin binary options brokers below:
Brokers That Accept Bitcoin Deposits
Finpari: Finpari accepts US and Worldwide traders, Paypal and Bitcoin. With an impressive 90% payout, Finpari is one of the best binary options brokers at the moment.
Brokers Where You Can Trade Bitcoin Options
Anyoption: AnyOption is an EU regulated broker launched in 2009. The interface of the site is straightforward and easy to use for newbies. AnyOption offers up to 15% money back for out of the money trade. There are various types of expiry time frames including end of the hour, day, week or month. Their customer support also support a number of foreign languages. You can trade bitcoin options on Anyoption.
Binary Options Brokers that Do Not Accept Bitcoin
1. Porter Finance
Porter Finance is a fast growing binary options brokers headquartered in London and founded in 2001. Porter Finance’s trading platform offers one of the most trading applications. It offers a versatile trading platform that features double up, rollover and buy me out. You can follow the trades of professional traders. The education center provides plenty of resources for traders. They do not accept bitcoins.
2. Top Option
Top Option is one of the first broker to be regulated by CySEC. TopOption protects the customers’ funds with the Investor Compensation Fund for up to $20,000 Euro. It offers an appearling trading option for newbie trader and an education center with lots of resources.
StockPair is an options broker operated under a company called Nextrade Global Ltd. Stockpair is based in London, UK. It was founded in 2010. StockPair is a registered broker in Belize. It features real time live streaming data and a wide range of underlying assets. StockPair only requires a minimum deposit of $100. Their customer service team supports two languages including English and Spanish.
TradeRush is the first broker that accept Bitcoin as a method for customers to fund their accounts. Founded in 2011, TradeRush is already a well established binary options broker. It offers an easy to use trading platform with many notable features such as double up, and rollover. Trade Rush offers fast withdrawal processing. You can find a lot of free ebook and tutorials in their education center.
Nadex which stands for North American Derivatives Exchanges is a top binary options broker regulated by the CFTC (Commodity Futures Trading Commission). Nadex offers many advanced charts and live streaming of the latest data. There are 23 assets with a number of expiry time frames to choose from. Nadex is not a bitcoin binary options broker.
Bitcoin Versus Credit Card
Bitcoin charges a lower fee compared to credit card processors. It is not an obligation to pay the transaction fee. However, if you pay the transaction fee, the transaction will be confirmed faster. The average credit card transaction fee is about 2 – 3%. The transaction fee in Bitcoin is in the range of 0.5% – 1%.
In Bitcoin, the payment sender is responsible for paying all the fees. Once you have sent a payment, you cannot perform a chargeback to reverse it back. Bitcoin is as secure as credit card. It uses public key cryptography to protect the sensitive information in the wallet.
Bitcoin Versus Bank Wire
Bank wire is more expensive than Bitcoin. The average bank wire fee is in between $40 – $80. If you bank wire the funds into your trading account, your transaction will probably have to go through an intermediate institution, which will cause you to be charged with additional fees.
Bitcoin is not as safe as credit cards or other online payment processors such as Paypal because you cannot perform a charge back (and another alternative is Skrill). Having the ability to perform a charge back is important in the event of a fraud. With credit card, you can ask the credit card company to issue a charge back if your money has been cheated by the broker.
Paypal has a resolution center, where you can open a dispute and get a refund if you feel that the btoker is a fraud.
Should I use Bitcoin for Binary Trading?
In conclusion, Bitcoin is a secure method for traders who like to use cryptocurrency to fund their accounts. There are a number of brokers that offer bitcoin trading and a few of them even accept bitcoin deposits and withdrawals. Some brokers do not offer trading services for bitcoin nor bitcoin account funding but they have many other payment options.