Anyoption Claims to be The World’s Biggest Bitcoin Exchange
Anyoption Claims to be The World’s Biggest Bitcoin ExchangeMay 15, 2013
Anyoption, a leading binary options platform claims to be the world’s biggest Bitcoin exchange. With the rising popularity of the new virtual currency envisioned by Satoshi Nakamoto in 2008, many traders have asked to include it on the asset index, and Anyoption has more than risen to the challenge by creating a separate feature resembling an exchange focusing on Bitcoin options only.
Trading Tip: This broker allows trading on Bitcoin Options during Monday – Friday 08:00-16:00 GMT only.
Still, there is one important question that needs to be asked. Namely, is this a real exchange or something else? Strictly speaking, an exchange charges fees according to volume of trades executed, this is not the case. The terms and conditions specifically stipulate that the trader needs only to speculate if the price will be either equal to or higher than a given strike price at a pre-selected expiry date & time. The only thing that resembles an exchange is a section that mentions the number of units you want to trade.
To be even more specific, an exchange like NADEX or CBOE sets the fees based on the number of traders that have real money trades being executed at any given time. The whole risk management and business model is designed differently. For example, the real exchanges don’t offer bonuses or cash back offers to entice you to trade.
To sum up, I believe Anyoption is a great broker with an amazing product and fantastic offering. The Bitcoin feature is not quite an exchange, however it bears a resemblance to it. It’s also worth mentioning that the network hashing rate is taken from bitcoincharts and that feed is uploaded directly from the actual network itself. This is a great and interesting opportunity for traders wanting to try out a new and exciting way to profit. I myself have a few open positions and have incorporated Bitcoin Options into my trading strategy.