Bitcoin Forum

Bitcoin => Press => Topic started by: n8rwJeTt8TrrLKPa55eU on April 16, 2013, 10:00:08 PM



Title: 2013-04-16: IG Offers Clients the Opportunity to Deal on Bitcoin
Post by: n8rwJeTt8TrrLKPa55eU on April 16, 2013, 10:00:08 PM
IG finally put out a press release of the new Bitcoin functionality rolled out.

Getting picked up by lots of newspapers worldwide, including WSJ.

http://www.prnewswire.com/news-releases/ig-offers-clients-the-opportunity-to-deal-on-bitcoin-203197051.html

Quote
LONDON, April 16, 2013 /PRNewswire/ --

The UK's leading CFD and spread betting provider* has started offering a limited risk binary on the popular digital currency, Bitcoin.

IG, a world-leading CFD, spread betting and forex provider, has introduced a new market enabling its clients to take a position on the value of the popular digital currency, Bitcoin.

Binary bets and binary options are a straightforward way of taking advantage of volatile markets- the price of one bitcoin has moved from $13.50 in January to $266 in April and has since fallen back.

Binaries take the form of a 'yes/no' question, meaning a client simply chooses whether to 'buy' or 'sell' if they agree or disagree with IG's predicted price levels for Bitcoin.

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

To find out more visit: http://www.igindex.co.uk/spread-betting/bitcoin-binary-bets.html

* Largest single provider of CFD and spread betting accounts, Investment Trends 2012 UK Leveraged Trading Report (November 2012)

NOTES TO EDITORS:

About IG Group

IG Group is a world-leading provider of financial spread betting, contracts for difference (CFDs) and forex. Founded in 1974, IG Group is an established member of the FTSE 250 with headquarters in London and offices across Europe as well as in the US, Japan, Singapore and Australia. Visit: http://www.iggroup.com

Summary of brands in 2013

IG is now the trading name of both IG Index (spread betting) and IG Markets (CFD trading). IG's other brands continue as:

    Nadex: a retail-orientated US exchange
    FXOnline: commission-free forex trading and CFD provider in Japan

Please contact IG's chief market strategist, David Jones , for more information on +44-(0)-7932-748-475 or +44-(0)-207-573-0088.

SOURCE IG


Title: Re: 2013-04-16: IG Offers Clients the Opportunity to Deal on Bitcoin
Post by: n8rwJeTt8TrrLKPa55eU on April 16, 2013, 10:02:36 PM
Also see here:

http://www.igindex.co.uk/spread-betting/bitcoin-binary-bets.html

Quote
Bitcoin binary bet market open

Prices for the digital currency Bitcoin are experiencing volatility, sparking global interest. We are pleased to now offer binary bets on the exciting Bitcoin market, expiring on 31 May.

ACCESS PRICE MOVEMENTS TODAY

There’s currently a waiting list of over 10,000 to open an account with the primary bitcoin exchange, Mt.Gox, so this is a great opportunity to benefit from price movements in the Bitcoin market right now.

Do you think the market will finish above or below our predicted levels on 31 May? Simply log in, then visit our Binary Specials market and take a position if you think you know which way the Bitcoin is headed.
Why is there so much interest in Bitcoins?

Bitcoin prices have climbed as Russian investors hurry to convert euros deposited in Cypriot banks into bitcoins, protecting their savings from the planned ‘haircut’. But this growth hasn’t been a smooth ride – the price of one bitcoin soared from $13.50 in January to $266 on 10 April, then lost more than 60% in one day before mounting a partial recovery.

Being a volatile currency the Bitcoin market is also incredibly liquid, experiencing trading volumes of over $100 million a day.

WHY BINARIES?

Binary bets are a straightforward way to take advantage of volatile markets such as Bitcoin with strictly limited risk: your maximum potential loss is always known from the outset. Binaries take the form of a ‘yes/no’ question – simply ‘buy’ or ‘sell’ if you agree or disagree with the price levels we've predicted for the Bitcoin.

Find out more about binaries or log in to take your position on the Bitcoin market.


Title: Re: 2013-04-16: IG Offers Clients the Opportunity to Deal on Bitcoin
Post by: leemar on April 16, 2013, 10:04:42 PM
Taken out a couple of Binary positions  :)


Title: Re: 2013-04-16: IG Offers Clients the Opportunity to Deal on Bitcoin
Post by: kjlimo on April 17, 2013, 11:38:42 AM
Couple questions:

1) can I open an account if I'm in the US?

2) is this the only way to hedge future value of bitcoin at this time?  If not, what are other people doing in that regard to limit exposure?

3) I'm guessing this company only deals with fiat & not bitcoin at this time?


Title: Re: 2013-04-16: IG Offers Clients the Opportunity to Deal on Bitcoin
Post by: leemar on April 17, 2013, 11:43:53 AM
1.   I don’t know the website should say.
2.   It is the only way I am aware of.
3.   Yes.


Title: Re: 2013-04-16: IG Offers Clients the Opportunity to Deal on Bitcoin
Post by: dree12 on April 17, 2013, 11:47:31 AM
2) is this the only way to hedge future value of bitcoin at this time?  If not, what are other people doing in that regard to limit exposure?

Bitfinex is another way to hedge.


Title: Re: 2013-04-16: IG Offers Clients the Opportunity to Deal on Bitcoin
Post by: Rotsor on April 17, 2013, 12:16:34 PM
2) is this the only way to hedge future value of bitcoin at this time?  If not, what are other people doing in that regard to limit exposure?

Bitfinex is another way to hedge.
Shorting is not much of a hedge because you usually have a cheaper option of simply reducing the size of your bitcoin position.

Binary options, on the other hand, allow you to get a non-linear return of investment, which is not obtainable with normal bitcoin trading.