Binary options trading became a huge hit among investors and ordinary people yearning to gain profits by investing in assets online without the complicated processes and requirements demanded from traders. Now that Bitcoin is beginning to broaden its reach to more services and industries, we see the rise of Bitcoin binary options.
Indeed, Bitcoin gaming offers various avenues to reach pure fun and entertainment, but if you are looking for a surefire way to increase your profits, there is nothing wrong in venturing into Bitcoin binary options trading. We have chance to speak with a director of IDSOption to share more on their Bitcoin binary options platform. You may read the first part here.
Coin News: What do you think Bitcoin needs to become a more prominent and reliable form of payment?
Fred Ki: Strengthen security is essential. In Feb 2014, Japan exchange Mt. Gox, which was doing bitcoin and real currency exchange was closed down due to the huge loss by hackers’ activities. Hacking, gambling, together with other unfavorable factors will bring crisis to bitcoin. This incident gave hint to other bitcoin exchanges to compete on strengthen their security system recently. End up that is the key point of bitcoin being accepted as a currency or not.
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CNA: How do you think Bitcoin will affect the Asian market in particular?
FK: China is a core country of bitcoin. According to Goldman Sachs’ report, not only the regulation and policy but 80% of the distributed bitcoin on the world is exchanging with Chinese Yuan. It’s a 30% raise compare with 2014 numerically. You could say China gives largest influence on bitcoin adoption and price. Lots of Asia nations has either banned bitcoin or did not react in order to segregate it, just give warning to investors because of price fluctuation, except other Asia nations like Vietnam, Jordan, etc. However, those products or assets have to go under separate tax policy in Singapore and Israel. The regulation and policy of bitcoin is not yet ready as a whole, but I believe when American and European countries’ bitcoin usage is more widely commercialized and legalized compare with now, the Asia market will grow crazily fast.
ALSO READ: Japan and Philippines Discuss Crypto Regulations
CNA: What have been the greatest accomplishments or the best times you have had while operating your business since its inception?
FK: Corporate must grow profit. As it is still initial stage now, there’s no clear result yet. However, we see it as a process of a global business and we are going to achieve by continue communication with customers.
To be concluded…
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