Bitcoin Currency & Payments
So what is Bitcoin? We have already mentioned that it is a new virtual currency that hit the market back back in 2009 and has become more mainstream and popular recently even through a few initial problems. It is not run by any government or regulated in the standard way other worldwide currencies are and its value is determined by its popularity and the customers that use the currency for transactions.
Why are people using Bitcoins?
There are a few reasons why it has suddenly boomed and the price of a Bitcoin soared, the first being that it is seen to be more secure to use than your everyday credit card or digital e-wallet. For a virtual currency where all transactions are made online security has to be top of their priority and they do this through multi level encryption.
Another reason that it has been adopted is that the fees for payments and use are much lower than that of credit cards, making it a more economical option for those performing payments on a regular basis. This means that if you are using it in your And finally the Bitcoin system allows your transactions to be made anonymously online making it an appealing choice for many.
The binary option broker TradeRush currently allow you to deposit into your account using Bitcoin, one of the few brokers out there that currently do, but we suspect we will see many more adopt this in the future as a recognised deposit and withdrawal method.
Where can I trade bitcoins online?
There are a few Bitcoin binary options brokers that offer the BTC/USD currency pair. This pair is the only one that you can use currently at any of the brokers below. They have seen how popular it has and is becoming to the financial world and have seen an opportunity to allow you to potentially gain from its highly volatile and fluctuating prices.
- TradeRush – Offer the BitCOIN/USD currency pair with trading hours between 9:00 am – 18:00 pm
- Redwood Options – Offer the same BITCOIN/USD pair with trading hours between 9am and 6pm
- Boss Capital – Offer the same BITCOIN/USD forex currency pair
- AnyOption – Offer this new cryptocurrency and US dollar pair of Bitcoin/USD with trading hours between 7am and 6pm
No doubt we suspect that more binary option platforms will adopt the new currency pair in the coming months, and depending on if it gains steam or not we might see some new currency pairs with the likes of BTC/EUR or BTC/GBP to show up in their Asset Indexes.