Online brokerage technology developer Hello Markets has announced a partnership with Polycoin, a bitcoin payment service provider. Integrating Polycoin into brokers’ platforms will enable traders to make deposits and withdrawals in bitcoins, and convert them into the denominative currency of the user’s trading account.
Despite not being in the news as much as it used to be, bitcoin is still going strong in the binary options industry, both as a trading instrument and as a payment method. Traders who prefer not to enter their credit card details online will see this as a considerable advantage. This mode of payment even allows traders to carry out transactions without accessing their bank account, completely eliminating any additional transaction fees.
The provider sees this move as a play on the Asian market where it is expected to be most in demand: “With 80% of bitcoin transactions reportedly carried out with the Chinese Yuan, the addition of Polycoin to Hello Markets’ list of payment service providers is sure to be of interest to our company’s large list of binary options brands based in Asia and more specifically, China. As always, we are determined to provide a one-stop shop to our clients and help increase their customer base”, said Jeremy Dahan, CEO of Hello Markets.
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Brokers will also be benefiting from Hello Markets’ latest partnership as rolling reserves and charge-backs will almost be a thing of the past, the company says. Given that bitcoin deposits cannot be reversed, this payment method removes the possibility of client fraud from the equation.
Alfred Shaffir, founder and CEO of Polycoin commented: “As a leading provider of cryptocurrencies payments solution for the financial sector, we see an excellent opportunity in working with binary option operators, and with the Forex trading sector in general. Partnering with Hello Markets will give Polycoin another great channel to access this market and will help us to continue our global efforts to drive the cryptocurrencies payments option to financial merchants around the world.”