Bet on the Value of Bitcoin

It is not only sporting events that you can place a bet on these days, for I have noticed there are a number of what are called Forex Broker sites available online that are going to allow you to bet on the value of Bitcoin.

What you are going to have to keep in mind when using such a service is that Bitcoin can of course rise or fall at any time, and when placing a bet at a Forex Broker you have to first pair it to a fiat currency, but also guess in just what way the value will move over any given period of time too.

If you think Bitcoin will rise or even fall in value over a set time period, of which you do have the choice of picking a range of different time periods including both short and long term ones, the Forex Broker will then offer you payout odds on the fiat currency you pair Bitcoin up to and the direction you think the value will move.

If, once the trade expires, that being it reaches the pre-determined time period chosen by you for your bet or “trade” as they call them, you guessed the way in which the value moved, you win and are paid out at the odds given to you by the Broker based obviously on the stake you wagered.

However, if you guessed incorrectly then you will have lost your bet. It is not only Bitcoin you can place bets (trades) on for more and more Forex Brokers are now offering odds on a range of different fiat currencies too.

This way of trying to profit on the rises and falls in regards to the value of Bitcoin may actually be an alternative to consider if you have been put off buying Bitcoin due to it being the most expensive digital currency available.

Just keep in mind though, at the end of the day a bet is a bet and unlike buying and selling Bitcoin when you are at least going to get something back when you sell it, even if it is less than you initially paid for it, you do run the risk of losing your bets when using a Forex Broker!

One thing that you may find of interest if trading on the value of Bitcoin is something you are interested in doing is that much like most Bitcoin accepting casinos and other gambling sites, Forex Brokers do offer a range of trader bonuses, some of which can be deposit match bonuses.

But as always, before you do set out gambling on anything, always carefully weigh up the risks involved in doing so, for not everything you bet on will have a winning outcome. However there are only two ways the value of Bitcoin can and will move, so you do have something of a 50-50 chance of guessing correctly!