I need some beta testers for Binary options trading on bitoption.org.
It's MOSTLY done, and I'd like to see some trading on it, just a little before I go more broadly.
If you don't know what a binary option is, it's a very simple derivative; you purchase a 'call' or a 'put' at a point in time. If, at the close date, the underlying security is above the price at your point in time, and you bought a call, you get a certain payout. (Roughly 155-160% likely in this case). If not, you get nothing, it expires out of the money.
A put would payout the same if the price was below.
I have a few things I'm worried about doing this including server load, and I'd like to open it up slowly; PM me or respond here if you're interested.
You'll need a funded bitoption account, but those are easy to get, of course.
Just a few questions before I test this out. Obviously, there's going to be some risk involved with a funded account:
1. Shouldn't the payout be closer to 2 if it's going to be the same for either call or put? Or is there something I don't understand about 1.5/1.6.
2. What would the min/max be, and what are the limits we need to be aware of? (Max # bets, max same type, etc.)
3. Auto payouts?
PM me a page/link to try. I'll reply with further qs.