crypto vs binary trading

eg2505

Honorary Master
Joined
Mar 12, 2008
Messages
14,542
#1
Hi All,

thought to ask a few more experienced folks out there,

what does better over a short time such as a month, Binary trading or cryptocurrency?

as I having a argument that one can make more cash over a short time with crypto vs the scam that seems to be binary trading.
 

Suspect99

Expert Member
Joined
Aug 22, 2012
Messages
4,947
#3
Hi All,

thought to ask a few more experienced folks out there,

what does better over a short time such as a month, Binary trading or cryptocurrency?

as I having a argument that one can make more cash over a short time with crypto vs the scam that seems to be binary trading.
You said it yourself, binary trading is a scam, why are you even considering it
 

eg2505

Honorary Master
Joined
Mar 12, 2008
Messages
14,542
#4
You said it yourself, binary trading is a scam, why are you even considering it
a few people here saying bitcoin is a scam, but I think personally Binary trading is a bigger scam, but maybe im unfamiliar with it

so I thought to ask around, what do people think?
 

Honey Badger

Honorary Master
Joined
Apr 30, 2010
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17,449
#5
Given the two options, I'd rather go with crypto. binary trading is k@k, its 100% gambling and you will lose all the time. With crypto you might lose a few bucks, if things go ballsup, with binary you can literally lose everything in a few minutes.
 

garp

Executive Member
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Aug 2, 2004
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6,754
#7
Well, for maximum casino effect you could binary trade crypto... there are lots of sites doing that. Probably a few scams, though.
 

Honey Badger

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Apr 30, 2010
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#8
In a nutshell what is binary trading and why is it a scam?
In a nutshell. It's exactly the same as flipping a coin to predict whether a given currency pair's price is going to be higher or lower as what it currently is in x number of minutes/hours
 

garp

Executive Member
Joined
Aug 2, 2004
Messages
6,754
#9
In a nutshell what is binary trading and why is it a scam?

It's an all or nothing option for a fixed return, target price and date. For example, 1.5x back your investment if the Rand drops to R13.50/$ by Friday 12pm. But you completely lose your investment if target is not met by the deadline.
 

saor

Honorary Master
Joined
Feb 3, 2012
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19,177
#10
Ah ok, so it is just gambling then.

Your colleges need to explain why bitcoin is a scam. What does that even mean? Even if bitcoin was a potato skin, the way you trade those potato skins allows you to enter and exit the trade whenever you want. It's like trading stocks - you follow the price action and make a decision. Trading allows you to manage your losses, seems binary trading doesn't.
 

Natas

Expert Member
Joined
Sep 19, 2006
Messages
2,265
#11
The other problem with binary trading is the sites that do it. They are generally very dodgy, don't have any kind of license or have a license in a jurisdiction where they hand them out. Generally, they get your money in with deposit bonuses and then you either lose your money, or if you make money, you can never withdraw it. They let you open accounts and deposit money without verifying your identity and then when you try and withdraw, they have to FICA you. None of the verification documents you give them will be good enough. Not speaking from experience, I researched online when also looking at it as an option.
 
Joined
Feb 15, 2019
Messages
1
#12
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ghoti

Karmic Sangoma
Joined
Jan 17, 2005
Messages
45,634
#13
a few people here saying bitcoin is a scam, but I think personally Binary trading is a bigger scam, but maybe im unfamiliar with it

so I thought to ask around, what do people think?
Cryptocurrency is much bigger than bitcoin. Bitcoin is one crypto currency in hundreds. Choose your currency wisely.

Cryptocurrency / Bitcoin is not a scam, its more powerful than regular currency. You cant create/buy fraudulent bitcoins (unless you really doff). Can non crypto currencies make the same claim?

When looking at cryptocurrencies to buy, please research then in detail. Rule of thumb, try stick to high volume currencies (you know these are always been traded to sell quickly).
 

liam45

New Member
Joined
Apr 10, 2019
Messages
1
#14
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