IQ Option has recently started its journey but gained millions of users. It is different in its website design and trading platform. Its recently added feature is Cryptocurrencies which include foreign currencies, including bitcoin.
Bitcoin Binary Option is the recent trend where one has to predict whether the Bitcoin price will fall or rise in time duration, and in this trading form, there are only two outcomes: win or loss.
Though IQ Option has many options for trading on its website, recently, it has become very famous for Binary Options, especially Bitcoin Binary Options, because of its new attractive features.
Bitcoin Binary Options on IQ Option:
Bitcoin was first launched in 2009 by Satoshi Nakamoto. It uses a self-electronic network for its payments. Its main principle is P2P, and its unique encryption system secures the payments. Bitcoin indexes are USD, Euro, and Chinese yuan. Trading Bitcoin in IQ Option is straightforward. One has to click and pay one dollar from the account. Here, easy steps to do Bitcoin trading are given.
How to Trade:
Choosing CFD to buy or sell from the main menu by clicking the “Open new asset” button in the trade room.
- Picking Bitcoin as the currency.
- Choosing the dollar value of Bitcoin to buy or sell from the “Amount” window.
- Click the green button to buy or the red button to sell.
- Monitoring it when entering takes profit or stop loss considering the trading strategies and preferences.
How to Deposit:
- Clicking the “Deposit” button.
- Choosing payment amount. In IQ Option, the minimum deposit is $10, and the maximum deposit is $20,000.
- Choosing payment method in Bitcoin.
How to Withdraw:
- Clicking “menu” and choose “Withdraw funds”.
- There will be a detailed process of withdrawal which takes one working day in IQ Option.
Bitcoin Leverage: The obtainable leverage in IQ Option depends on the country and whether it is regulated. However, the main rule is that traders worldwide can trade with up to 1:50, except the European countries. Traders from European countries can get 1:2 leverage.
Spread and Overnight Fees: The Bitcoin Spread on IQ Option depends on the current market condition and the selected leverage. In 2019 the Spread was around 2.5% per Bitcoin, and the overnight fee was –0.065% on buying and +0.015% on the selling positions.
Safety about Bitcoin: Bitcoin is not a safe trading option for short-term traders. In the past, there was volatility in Bitcoin a lot. The value would be double or triple in some days though it is stabilized.
Over a long time duration, there are no significant price movements in Bitcoin. However, for those who wish to hold the position for a long time, such as for some hours or days, Bitcoin is really very useful. OverThough, there is a small overnight funding fee for long-term traders in IQ Option.
The Future of Bitcoin: How the Bitcoin price will change is absolutely unsettled, but Bitcoin is the sanctuary of safe Cryptocurrencies. Bitcoin is now the digital gold in the online trading platform. Its value became around 15% at the time of Brexit. The demand for Cryptocurrencies is rising every day. One can gain a lot in online trading by predicting the proper future of Bitcoin among all the Cryptocurrencies.
Support Service: Like every other broker, IQ Option has a 24/7 support service with an email address and phone number. For any queries regarding any trading option, including Bitcoin, it is possible to contact them directly. Besides, IQ Option has a site called IQ Option wiki, which has information about them.
Other Possibilities:
Though Bitcoin is the most trending Cryptocurrency right now, other options exist, like Ripple, Dash, IOTA, Monero, ZCash, Ethereum, Litecoin, Bitcoin Cash, etc. These are also open to all traders. These are also rising moderately, and one can profit from these Cryptocurrencies. Except for Bitcoin, all other Cryptocurrencies have the same method of trading. Investing is the same and accessible in these options as well.
Bitcoin is the new biggest craze in online trading platforms, and IQ Option has made it easy and fun. Starting from 2013, it has developed a lot till the present day, and in the future, it will bring more opportunities for readers worldwide. This article can help one to start trading Bitcoin on this broker with the necessary information.
