Bitcoin Binary Options - What are they and is it a Scam? I recently came across Bitcoin Binary Options. I didn't really understand what Binary Options mean, is this like actual Bitcoin trading or is it one more scam I need to avoid ?
Bitcoin Binary Options are financial instruments that allow you to predict if the price of Bitcoin will rise or fall in a specific amount of time. They are called binary options because there can only be 2 outcomes - either you get your payout, or lose your money.

Each option has a predetermined expiration date and an agreed payout. For example, if you decide to buy a "call" Binary Option on Bitcoin this means you think the price will rise.
If at the stated expiration date the price was higher than what you've bought it at, you get your payout.

Binary options seem to resemble gambling in a way that you don't have to have any prior knowledge in order to succeed or fail in them. It's just "betting" which way the price will go which is almost impossible to do consistently in short time frames.

There have been many complaints about Binary options being scams and it's important to see that the company you're considering is regulated in your country. Also, if you dig a bit deeper into the math of Binary options you'll find out that just like a casino the house has better odds at profiting in the long run.

For more information you can read this article.