Binary option brokers bring in bitcoin trading

Binary option brokers bring in bitcoin trading

Binary options brokers SetOption and TradeRush have begun offering trading in bitcoin, giving speculators the chance to take advantage of the virtual currency's volatility.

Binary options trades pay out when the investor correctly bets that an event - such as the bitcoin value hitting a certain point - occurs.

With bitcoin seeing its dollar value bounce around over the last couple of years from lows of a few pennies to highs of more than $200, SetOption and TradeRush are both offering punters the chance to trade its exchange rate. Another binary options platform, Anyoption, already offers the service.

"Bitcoin trading values private currency and its rate is constantly changing and experiencing significant increases. It is for this reason that bitcoin trading has gained such recent popularity in the markets," says a TradeRush statement.

Earlier this year, New York-based start-up Coinsetter raised $500,000 in seed funding for a forex trading platform for bitcoin, enabling people to make levered trades on margin and short the market.

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