With Coronavirus continuing to wreak havoc, economic depression is no longer a notion in history books, but a very real possibility as economists urged governments and organizations to prepare for the collapse of the economy. In a letter to clients, Bank of America economist Michelle Meyer stated “the economy has fallen into a recession … joining the rest of the world, and it is a deep plunge.” She also emphasized that “Jobs will be lost, wealth will be destroyed and confidence depressed.” Facing such an uncertain future, what can we ordinary people do to stay afloat and wait for the economy to turn around?
Jobs couldn’t be taken for granted, as big companies like Air Canada cut jobs to save cash flows; stocks are not so reliable now because four trading curbs have been triggered since March. How about buying gold or treasury bills? Well, you could, but please note that the liquidity of these safe-haven assets is relatively low. In times of uncertainty, letâs take a look at Bitcoin, an asset widely considered as âriskyâ.
How Bitcoin Help You Ride Out the Crisis
Bitcoin has always been associated with risks by onlookers, as the price of Bitcoin has experienced many ups and downs. Starting from about $13.50 in 2013, it broke through $1,000 in early 2017. At the end of 2017, Bitcoin shocked the world as the price of one Bitcoin quadrupled to nearly $20,000 within just three months. But the price of Bitcoin didnât stay above $20,000 for long as it rapidly fell to $3,300 by the end of 2018. Then in 2019, it saw a new resurgence in price and is now hovering around $7,000.
One might ask: if Bitcoin price has dropped over a half in the past two years, how can it be an ideal asset now? Yes, the high volatility of Bitcoin may seem scary to beginners. If we simply hold it and wait for the bullish market like we normally do with stocks, we might get doubtful as the price is constantly changing and we might experience huge loss from time to time. However, such volatility is perfectly made for binary option trading, where all you have to do is to predict the trend of the market within a certain period.
Bitcoin binary option trading is very simple. You donât need to have an extensive understanding of what influences the market. You donât have to constantly check the market. And you donât have to invest a large sum of money for the minimum trading amount in many platforms usually amount to a few dollars.
In binary option trading, you can set an expiration time and predict the direction of the price. For instance, if the price is $6,000 now, and you believe it is going to be above $6,000 in one minute. You can set the expiration time at one minute and buy a “Call” option. Otherwise, you buy a âPutâ option. One minute later, if the price is indeed above $6,000, despite how it fluctuates during this period, you get to earn a payout of a certain percentage of your investment, and some platforms even offer payout as high as 91%. Even if you lose, you only lose the investment so the risk is more controllable.
Where Can I Trade BTC in A Safe and Convenient Manner?
When trading BTC, security and transparency are the priorities for investors. Registered in the United Kingdom, IE Option adopts the most advanced hierarchical deterministic wallet system and records the operation history of users to ensure the funds of users are well-protected. Besides, the withdrawal of your fund will be manually approved in a timely manner.
IE Option is an ideal platform for beginners as they can get familiar with the operation and improve their skills with a demo account. Included in the demo account is 10BTC for free, with unlimited recharge. You can practice the operation as much as you like before trying your hands with the real account. As for the real account, the minimum trading amount is only 0.001BTC and you can get a $10 free bonus upon registration. Starting from a small amount, you can gradually increase your earning as you become more practiced.
Another notable feature of IE Option is that it is available on not only Windows and MacOS systems, but also Android and iOS in mobile phones. The direction of the market is changing fast, but you donât need to keep a close eye on the market when dealing with binary options. With just a few swipes on your IE Option, you can make a deal in as fast as 60s. In addition, since the trading time is 24 hours a day, 7 days a week, you can check the market and deal anytime and anywhere you want.
Fortune favors the bold. There is no better time to diversify your investment portfolio as IE Option now offers a big promotion with up to 100% deposit bonus. Furthermore, you can get a 10% extra bonus by sharing the promotion to your social network. Without any trade fee and equipped with such an easy-to-use platform, IE Option could be the life-saver for you to ride out the downturn.
About IE Option:
Official Website: https://www.ieoption.com/
Download app from Google Play
Download app from Apple Appstore
Facebook: https://www.facebook.com/ieoption/
Twitter: https://twitter.com/IeOption
Disclosure/Disclaimer: This article is sponsored and provided by a third-party source and should not be viewed as an endorsement by ZyCrypto. Readers should do their own research before having anything to do with the company, goods and/or services mentioned in the above article.
