Is Binary Trade Better or Better to Buy and Hold Bitcoin?

[BD Technical]

I have been in a dilemma for some time now. Do I invest Bitcoin or I will start binary trade. I could not understand anything. Sometimes I feel like doing binary trade. I think that if I don't lose it, it goes around in my mind. But I did a lot of messing with Bitcoin. And read many websites and articles. After seeing everything and I have been around in the crypto world for a long time. I have experience on Bitcoin because Bitcoin 2022 was priced a lot. But now 2023 he is going to Bitcoin and at the beginning of this 24th and I am growing. For that I ask you for feedback if you give your valuable ideas then what is better for me because I have been in conflict with Aibitcoin and Binary Trade for a long time. But in many places I see that I have people and some they are making a lot of money.

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[Oshosondy]

Holding is better and less stressful. It is also not risky like trading. Losses in holding are unrealized unlike trading as traders accept their losses very early or facing trading asset liquidation.

I have been trading for over four years and also holding. What I realized is that holding is better than trading. See trading as gambling although it is not gambling.

[BitMaxz]

Don't trade on Binary that's too risky it is not the same as spot trading it is gambling if you fail to predict the price movement all of the amount you bet will be lost compared to spot trading you can only lose some percentage of your current crypto amount you trade.

Buying Bitcoin while holding it is way safer if you compare it with Binary trade but take note Bitcoin is very volatile anytime the value can drop or increase. Hence, it's not advisable if you don't know when to invest in Bitcoin to hold long term. However, since block halving is coming for me the current price is still a good price to invest in Bitcoin and hold until the end of block halving this April we might see a new ATH this coming June or July.

[Helena Yu]

You don't have to ask since you already know the answer.

If you have a stable job that pays well, you will choose holding Bitcoin.

If you don't have a stable job or job that pays not enough to live comfortable, but you can make money in binary trading, you will choose trading.

As simple as that, isn't?

[Ricardo11]

I will always tell you, to hold, because holding is less risky and long-term holding is more profitable. Trading is high risk. Trading is like gambling, although it is not gambling, because when we lose in gambling we lose all our money, just like in trading if we lose our entire money is lost. So I would say you should hold Bitcoin for long term, it will give you a lot of returns.

[avikz]

I have been in a dilemma for some time now. Do I invest Bitcoin or I will start binary trade. I could not understand anything. Sometimes I feel like doing binary trade. I think that if I don't lose it, it goes around in my mind. But I did a lot of messing with Bitcoin. And read many websites and articles. After seeing everything and I have been around in the crypto world for a long time. I have experience on Bitcoin because Bitcoin 2022 was priced a lot. But now 2023 he is going to Bitcoin and at the beginning of this 24th and I am growing. For that I ask you for feedback if you give your valuable ideas then what is better for me because I have been in conflict with Aibitcoin and Binary Trade for a long time. But in many places I see that I have people and some they are making a lot of money.

Trading is stressful. There is a high chance that you will lose money. And when I say trading, it means all kind of trading which includes cryptocurrency, stocks or binary. So if you are okay to deal with such kind of stress go ahead with binary trading. But if you do not want such stress in your life, go for holding. This is true for stock market as well.

Trading can generate a good amount of income for you but the risk is also very high. And in finance the reward is higher when the risk is high. If you do not want to deal with such kind of risk, simply hold for longer term. That should do the magic.

[Shishir99]

I have been in a dilemma for some time now. Do I invest Bitcoin or I will start binary trade. I could not understand anything. Sometimes I feel like doing binary trade. I think that if I don't lose it, it goes around in my mind. But I did a lot of messing with Bitcoin.

Binary trade is equal to gambling. You never know what is going to happen. I always doubt that the movement that happens on the binary chart isn't real. These are fake charts that move according to how the website owner wants. You won't notice those movements on the real market for obvious reasons. Binary trade's are just like you place a bet and you don't know what will happen.

Sometimes, it's worse than gambling. Because you could predict the gambling market but binary does not work that way. So, you should go with the 2nd option. Holding Bitcoin is less stress as another member has pointed out already. Do DCA and wait for the bullrun.

[Hamza2424]

Trading & Holding are both 180-degree concepts where the trading requires proper management skills such as emotion, TA, FA, and price action with some decent experience it's a full-time job, and at the same time investment/holding is a strategy of one-time effort where you only need the basic information and an overview of FA. Now the deciding ball is the user's court, trading can be highly rewarding.

On my end I play in between with different coins, for Bitcoin I will always suggest the holding strategy as you know its the most safe play haha.

[alastantiger]

I have been in a dilemma for some time now. Do I invest Bitcoin or I will start binary trade. I could not understand anything. Sometimes I feel like doing binary trade. I think that if I don't lose it, it goes around in my mind. But I did a lot of messing with Bitcoin.

Please if you do not understand trading, DO NOT ENGAE IN IT. 99.9% of traders lose money woefully but they will never tell you this. In fact, those who are successful traders took many years to achieve that. In contrast, becoming a successful holder of assets like Bitcoin requires no prior experience. When you hold bitcoin, you do not lose your money instead it grows. When you hold bitcoin in the long term you make money. Additionally, the advantage of holding lies in the ability to weather bear markets, with the assurance of recovery during subsequent bull markets if one refrains from panicking and selling. Hey, just do two things - DCA and HODL. It is going to change your life.

[AirtelBuzz]

Binary trading seems like gambling to me. I think binary trading has a lot in common with forex trading. Binary options trading also requires analysis like forex trading. A good profit cannot be expected if the analysis is not done properly. There is a lot of risk involved.

You invest bitcoins instead of trading this binary. You may know and understand about crypto currency so I say you buy bitcoin and hold it for long time you will be very safe.

[bittraffic]

Binary trading is considered gambling, you could do this if you are really good at it but it's safer to just hold. Since you sound very newbie, it's holding BTC and keep learning first. You learn how to trade first before trying out binary trading, it's not for new traders. I think that's the reason why there are fewer platforms for binary trading anymore since more people learned it is not for them.

I have tried binary trading myself. Picking which platform is the hardest, crypto binary trading platforms are often scams.

[Zlantann]

I have been in a dilemma for some time now. Do I invest Bitcoin or I will start binary trade. I could not understand anything. Sometimes I feel like doing binary trade. I think that if I don't lose it, it goes around in my mind. But I did a lot of messing with Bitcoin. And read many websites and articles. After seeing everything and I have been around in the crypto world for a long time. I have experience on Bitcoin because Bitcoin 2022 was priced a lot. But now 2023 he is going to Bitcoin and at the beginning of this 24th and I am growing. For that I ask you for feedback if you give your valuable ideas then what is better for me because I have been in conflict with Aibitcoin and Binary Trade for a long time.

You could lose a fortune engaging in binary trade in a short period because it has some key similarities with gambling. Some persons who have experience or skills in the trade are making money from however i will not recommend it to anyone. But I will suggest to anybody to consider hodling Bitcoin because it is somehow certain that it will be profitable if held for a long time. My advice is for you to patiently buy and hold Bitcoin and discard your urge to engage in binary trade. Even if you don't have bulk money to invest in Bitcoin, you could consider using the DCA strategy. However, it is up to you to decide your best option.

But in many places I see that I have people and some they are making a lot of money.

You could ask them how they are making money, maybe they can give you a hint of how you could make money. But you have to be careful of scams and Ponzi schemes.

[goldkingcoiner]

I have been in a dilemma for some time now. Do I invest Bitcoin or I will start binary trade. I could not understand anything. Sometimes I feel like doing binary trade. I think that if I don't lose it, it goes around in my mind. But I did a lot of messing with Bitcoin. And read many websites and articles. After seeing everything and I have been around in the crypto world for a long time. I have experience on Bitcoin because Bitcoin 2022 was priced a lot. But now 2023 he is going to Bitcoin and at the beginning of this 24th and I am growing. For that I ask you for feedback if you give your valuable ideas then what is better for me because I have been in conflict with Aibitcoin and Binary Trade for a long time. But in many places I see that I have people and some they are making a lot of money.

This is the first time I heard about trading Bitcoin Binary Options. In fact, this is the first time I even heard of binary options.

One of the first google search results that pops up when I google binary options is a blog warning me about binary trading scams. After a bit more research, I understand that binary trading is basically guessing that BTC reaches a certain price by a certain time or you lose all your money? Sounds exactly like gambling to me.

Basically it is trading with derivatives but with an even riskier category of liquidation.  

Hodling is 100% the better option.

[thecodebear]

I don't know what "Binary" trading is, but if you're just trying to decide between trading and long term investing, you should mostly first be doing long term investing.

For my first few years in this space I would buy bitcoin then try to trade it to make more bitcoin. The guy who told me about bitcoin told me to buy on coinbase and then go to another (now shutdown) exchange and told me about altcoins and told me to trade. While I am grateful he introduced me to Bitcoin all the way back in 2013, I wish he had never mentioned trading to me hahaha. Trading with my bitcoin to make more bitcoin never worked out long term. I'd have a lot more bitcoin right now if I just bought and held.

It was only these past six years that I have separated my bitcoin holdings from my trading stash. I buy bitcoin as a long term investment, and then in addition to that I have cash that I trade with, trading against USD. Goal of my trading is to make more USD. So when I do well with trading I make a bunch of cash which is great! When I do poorly in trading I don't lose any of my all-important long term bitcoin!

If I could go back to 2013 I would have told myself to put a little bit of money onto an exchange to practice trading with, but with the majority of my money just buy and hold bitcoin long term and leave it alone, and never mix the two things.


So, if you don't already have a sizable amount of bitcoin that you are holding long term, start accumulating bitcoin first so you can build your long term wealth. Then later you can get a decent sized trading stash going to try to make income from. Or you can set aside a little bit of money now for trading to practice trading and get more skilled in it, while using most of your investable money to simply buy bitcoin and hold it long term.

[Fuso.hp]

Buying and holding Bitcoin is much safer than binary trading. From what I know about binary trading, I think binary trading is a gamble.  Binary trading game style is very similar to gambling that's why I don't consider this trading safe. If you can invest that money instead of gambling with your own money then it is definitely better because gambling can lose money at times but buying and holding bitcoins can give us good amount of money in future. We should invest for long term with profit potential we cannot risk losing our invested capital for small profit in short term.

[SatoPrincess]

OP can you trade? Because a professional trader wouldn't ask for public opinion on whether to trade or not. Watching YouTube videos and practicing on demo accounts isn't the same as trading live accounts. Trading may seem appealing because of the profits that can be made but there is also high risk of losing money. Holding Bitcoin for long term is a safer option for a beginner.  

[Rikafip]

Since you have to ask that question, answer is pretty obvious: stick to buy and hold bitcoin tactic. Unless you are willing to spend years of your time and loads of money to actually be able to trade successfully. Then again, that's something majority of people have to realize by themselves (that trading ain't so easy as it seems at first) and lose some money while doing it.

[Wind_FURY]

Don't trade on Binary that's too risky it is not the same as spot trading it is gambling if you fail to predict the price movement all of the amount you bet will be lost compared to spot trading you can only lose some percentage of your current crypto amount you trade.

Buying Bitcoin while holding it is way safer if you compare it with Binary trade but take note Bitcoin is very volatile anytime the value can drop or increase. Hence, it's not advisable if you don't know when to invest in Bitcoin to hold long term. However, since block halving is coming for me the current price is still a good price to invest in Bitcoin and hold until the end of block halving this April we might see a new ATH this coming June or July.

The right term is Binary Options and it actually IS gambling in the context that such "financial instruments" shouldn't be offered in exchanges. They should be offered in casinos, where they should probably belong.

OP can you trade? Because a professional trader wouldn't ask for public opinion on whether to trade or not. Watching YouTube videos and practicing on demo accounts isn't the same as trading live accounts. Trading may seem appealing because of the profits that can be made but there is also high risk of losing money. Holding Bitcoin for long term is a safer option for a beginner.  

It should be said that 90% of "traders" lose money, and the traders that profit consistently are probably NOT gambling in Binary Options.

OP, choosing between Buy and Hold, and Binary Options is not a dillema. The answer is very obvious.

[Nwada001]

First, you need to discover what you really need before you can know if you should go into bitcoin investment or binary trading.
 
Because bitcoin investment requires a long time, it's not something you will put in your money today and expect for it to give you profit tomorrow. It happens sometimes, but it's just a little that will be added to what you have invested. A bitcoin investment is also less risky if you can hold it for a long time and don't sell out of panic.
 
For binary trading, you need to learn about it, and the risk alone is very high. If you are not careful enough, you can lose everything that you put in there, so you need to study the market the same way it can give you a fast profit and also the same way it can take it all out of you in a blink of an eye in just one wrong trade.

[BITCOIN4X]

If you don't want to be a holder, then it's at least a good idea to be a spot trader. Future trading and binary trading are too risky for you, meaning you can lose everything just because of greed or a small mistake. I'm not saying binary trading is bad for everyone, but considering you don't have a good experience, it's a good idea to avoid it.

My advice, become a holder and develop your investment strategy. If that doesn't appeal, then spot trading is the second option I recommend. You won't lose all your investment without making a big mistake if you choose these two options, you just need to be patient and develop a strategy.