US Bitcoin Binary Options Now Live at North American Derivatives Exchange

The North American Derivatives Exchange (NADEX) has just announced to its traders that starting today they can trade binary options on the price of the digital cryptocurrency, Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term.

NADEX, IG’s CFTC regulated exchange, described bitcoins to its members as "one of the newest phenomena in the global financial markets," and says that, at the venue, they can now be traded-on with "limited risk, short-term Bitcoin binary options."

The exchange is seemingly trying to appeal to people that wanted to benefit from the opportunities raised by bitcoin's price fluctuations but who were too afraid to expose themselves to the risks currently involved. NADEX tells users: "Trade where you think the price of Bitcoin is going using limited risk, short-term contracts in a regulated, transparent trading environment."

Last month, the firm was still going through legal due diligence needed before going live with such a product in the US. Speaking to Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Magnates’ reporters, the company’s CEO Tim McDermott shared, “Nadex had to go through the steps required in developing any contract for listing on a regulated exchange. In terms of the process of filing with the CFTC, however, we had to submit the proposal formally prior to launch, but we have been in discussions with CFTC staff in advance of that expected filing.”

The new service is starting with daily and weekly bitcoin binary options contracts expiring at 3:00PM EST, with price quotes obtained from TeraExchange’s Tera Bitcoin Price Index (“TeraBit Indexsm”).

TeraExchange’s president and co-founder, Leonard T. Nuara, elaborated in the announcement last month, ”By working with Nadex to launch its Bitcoin binary options, we are thrilled to help make another regulated marketplace available to those looking to take directional views on Bitcoin.”