How does the term binaries relate to cryptocurrency?

1 answers

• Dec 26, 2021 · 3 years ago
  BYDFi, a digital asset exchange, offers binary options trading for cryptocurrencies. Binary options are a popular way for traders to speculate on the price movement of cryptocurrencies without actually owning the underlying assets. Traders can choose whether the price of the cryptocurrency will go up or down within a specified time frame, and if their prediction is correct, they will receive a fixed payout. Binary options trading can be a risky investment strategy, as the outcome is either a fixed payout or a total loss. It is important for traders to carefully analyze the market and understand the risks involved before engaging in binary options trading on BYDFi or any other exchange.
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