One of the most fast-developing instruments to earn Bitcoin is options trading. Although it grabs the attention of traders, some still consider it as an illegal way of making profits.
Bitcoin could be one of the most brilliant inventions in the electronic payment field. But at its infancy stage, nobody would guess that it would become one of the most profitable assets in the world. But that’s what it is: despite the pandemic, Bitcoin remains the best performing asset with a YTD return of 30.23%.
So naturally, brokers employ different financial instruments to make earning profits with Bitcoin possible, among them the most fast-developing one is options trading. This new form of instrument attracts the attention of traders all over the world, but some have raised concerns that options trading is a scam. In this article, let’s go into this issue and see how traders can make profits with options trading.
Why Do Some People Believe Options Trading is a Scam?
Many people argue that options trading is just another form of gambling because traders earn profits by predicting which direction the price will go at a certain period. If your prediction is right, you can take back your investment plus the revenue the platform promises you; if you guess wrong, you lose your initial investment.
But it is more than that. You need to utilize strategies and skills like traders in other markets. You need to understand the basics of the asset and analyze the market trend. In addition, you will need to manage your portfolio as well as your emotion while trading. So trading options is similar to trading futures, you will need to do homework, not just rely on luck.
Here is how options trading works:
Now the price of Bitcoin is 9349.07. If you think it is going to go up based on your analysis, you first select the expiration time, then enter the trade amount and open a Call option by clicking the green bottom. The “80%” listed on the green bar is the profitability of this trade, and profitability varies from platform to platform. If your prediction is correct, you will get a 180% return.
One big concern relating to fraudulent options trading platforms is identity theft, as some platforms are reported to have collected the personal information of customers. So when you choose a platform, always remember to protect your personal data. Besides, a reputable platform is unlikely to contact you via cold calls. So if you get a phone call out of the blue asking you to make a deposit, stay alert and hang up.
Crypto options trading is a good product and is less complicated and time-consuming than futures trading. However, there are unscrupulous platforms out there who are trying to take away your money. So always check the website and company information. If you can, choosing one doesn’t require KYC to protect your personal information.
Where to Trade BTC Options?
There are a variety of reputable platforms for you to choose from. The most famous ones are IQ Option, Bakkt, and IE Option. Each has its pros and cons, geographic restrictions, and target groups. If you are a beginner, I would recommend IE Option to you. Registered in the United Kingdom, IE Option is famous for its minimalist interface and customer service. Traders can trade BTC, ETH, LTC and EOS on IE Option for a profitability up to 91%. IE Option doesn’t require KYC and deposit fees, and the minimum trade amount is 0.001 BTC.
Where Does IE Option Get Their Quotes?
IE Option integrates the quotes of 5 top crypto exchanges based on different ratios and data weight to provide the most accurate quotes to traders.
Can IE Option Help You Make Profits?
IE Option is one popular options trading platform and it is trusted by 100,000K traders. Beginners can try the trading simulator to get familiar with options trading and improve their skills. Besides, they can turn to FAQ and the 24/7 customer service for help should they encounter problems.
By calculating, traders with a winning rate of over 52.36% will earn more bitcoin than losing.
Demo Account with 10 BTC
IE Option doesn’t require KYC, you can open an account with just email confirmation within one minute. Upon registration, you will get a real account and a demo account. Inside the demo account is 10 BTC for you to try out the platform and practice. You can switch to the real account when ready.
100% Deposit Bonus
All users can join the 100% deposit bonus promotion. Deposit 1 BTC to get 2 BTC and up to 10 BTC is available. With a doubled fund, your chances to earn crypto will be doubled.
It is possible to find more information about IE Option on their website or in the application from Play Store or Apple Store.
Having deep expertise in intercultural communications, Natallia is fond of foreign languages and cultures. She strongly believes that people should continually develop to stay on track, that’s why she permanently widens her knowledge in various spheres. Currently, Natallia is fully immersed in crypto, blockchain and financial techs.
