How to bet on bitcoin's future value

AccessTimeIconApr 18, 2013 at 12:22 p.m. UTC
Updated May 9, 2023 at 3:02 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

IG Index, a UK-based company that offers spread betting on financial markets, has begun offering binary betting on the bitcoin market.

The limited risk binary offering enables clients to take a position on the value of bitcoins, where bets are expressed as odds that an event will or won't occur. IG's offering lets people bet on whether a bitcoin's market value will finish above or below a certain point by a certain date: clients can choose to buy or sell depending on whether they agree or disagree with IG's predicted price levels.

  • AAX Likely Moving Toward Legal Procedure, Former Exec Predicts
    01:01
    AAX Likely Moving Toward Legal Procedure, Former Exec Predicts
  • Hivemapper CEO on Building a Mapping Economy on Web 3
    06:36
    Hivemapper CEO on Building a Mapping Economy on Web 3
  • Solana Commits $100M to Support South Korean Crypto Projects
    06:49
    Solana Commits $100M to Support South Korean Crypto Projects
  • Bitcoin Traders Prepare for a Tumultuous March
    01:08
    Bitcoin Traders Prepare for a Tumultuous March
  • According to IG's website, binary bets and binary options are "a straightforward way to take advantage of volatile markets." For example, the company noted, the price of a bitcoin moved from $13.50 in January to $266 in April, "then lost more than 60% in one day before mounting a partial recovery."

    "While bitcoin is still a relatively new phenomenon it has surprised many in the financial markets with its popularity," said IG chief executive Tim Howkins. "We're delighted to offer our clients the opportunity to benefit from its price fluctuations using a binary -- while limiting their risk exposure."

    IG Index is one of two core businesses run by IG Group. The group's other business -- IG Markets -- offers financial bets on contracts for difference (CFDs) and forex.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.