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Screenshot of a breaking news alert e-mail from Q2 2017
Beta website for nine different binary options, including gold, silver and crude oil, plus six foreign exchange pairs
Bitcoin ONLY! That is the terms of service of new binary option trading platform UpDown. A few online gaming and sportsbooks accepting Bitcoin have popped up since the digital currency went into the mainstream consciousness. However, the thought behind this is simple, as getting a deposit into your account had become increasingly more difficult in certain jurisdictions for gaming and sports. Overall, binary brokers have no problems accepting a wide variety of payments from their customers. It is understood now that the speculative instruments have become an acceptable offering to the average customer. However, since most traders will lose, it is probably worth it to accept Bitcoin then to accept nothing at all! UpDown has clearly positioned their offering as more gaming, as the only available expiration time is 60 seconds.
The volatile nature of Bitcoin makes it still a risky form of payment. UpDown’s offering to potential binary traders might only appeal to the hardcore Bitcoin crowd at the moment. Others offering Bitcoin funding includes Satoshi Option, BTCOracle and BeastOptions (runs on 3rd Party Tradologic platform). Maybe some of these proprietary platforms from the Bitcoin only brokers show promise. Turning these platforms into full service providers or platforms which can be white labeled may be something substantial that could come out of this latest trend.
The platform looks to be very user friendly (funding by bitcoin and the choice of up or down for 60 second expiration is the only option available across 9 assets):
*Maximum trade size per bitcoin address is currently set at 0.25 BTC
The platform is running straight off the UpDown website, it looks to be something that is very adaptable to a mobile app as well. We at LeapRate will keep up with the innovations in this niche.