Combining binary options and Bitcoins together will give you a headache but with the right binary option broker, things should be a lot easier to understand and follow. Note that not all binary option brokers trade for Bitcoins so it is important to determine which ones accept the crypto-currency and which dont.There are basically two kinds of Bitcoin binary options brokers: (Type 1) The ones that use Bitcoin as the sole medium of exchange, and (Type 2) those that use Bitcoin as the underlying asset. Type 1 Bitcoin Binary Option Brokers are those brokers that specifically trade for Bitcoins. If you have Bitcoins, youll want to trade using the Type 1 broker so as to maintain your privacy.The risks you will encounter when trading in binary options are the following: market risk, fixed profits, high probability for loss, illiquid and unregulated (well, most brokers are). Since the market mightmove in a different direction without any warning, binary options predictions may not exactly go as planned or as analysed. And even if the market do pinpoint exactly to the movement you predicted, the gains are fixed profits meaning, you get a fixed amount even if the broker makes more from your investment.To minimize the risk of trading binary options, you need to choose a binary options broker that already has a reputation of providing protection rate and would help limit your losses. Make sure that you really like the brokers platform and services / features before you work with him or her. This way, you will have the confidence of trading binary options knowing that you can control the risks that comes with it.When trading with a binary options broker, the investors are actually trading against that broker. Meaning, when the investors make a profit, the binary options brokers meanwhile loses money. Thus, trading binary options is both an investment and a way of gambling.Binary options is an investment in a sense that you can be profitable if you choose the right options. Binary options trades involve gambling because you either win big or lose everything.Binary options brokers are not easy to find reliable binary option brokers for that matter. There are a lot of so-called binary option brokers on the internet today but most of them are actually scam artists. Which is why it is important to scrutinize the binary options brokers before you start trading with them.There are precautionary measures that investors can do to make sure that they only transact with a credible binary options broker. First of all, dont ever trade with a broker that operates in a country that does not have strong regulatory system. Make sure that the broker you engaged with operates within the jurisdictions of a country that acknowledges binary options trades.The rule of thumb is if the binary options broker has a lot of complaints about him, then he is probably not a good broker to trade with so avoid using his services at all cost. Consider any negative comments as a warning sign indicating that the broker might be a scam artist or simply an incompetent binary options broker.What better way to determine the credibility of the binary broker than to give his services a test run that is if the broker is willing to offer you a trial test. See to it that the brokers platform suits your binary options strategies. Most binary options brokers are registered with reputable companies and they are more transparent with their operations.Investors can get better investment outputs by using a specific binary options strategy to improve their chances to be profitable. Note that there is really no perfect strategy and success will always depend on the economic stability. These binary options strategies are basically guides to help investors foresee how their investments will turn out.One binary options strategy involves Calling or Putting at the best possible time. There is also the strategy of right timing to generate profit regardless of how skilled or not the trader is. A strategy that basically focuses on economic statistics can also help traders get better investment returns. Certain tools are also provided by the brokers to give the investors projected positions of their assets and their prices at a given time frame.The simplest way to improve your chances to be profitable is to tune in to financial news and check out the market figures yourself. Use your technical analytic skills to determine which assets or stocks are making profit and then use such information to make the right binary options investment.The best way to avoid identity verification is to make use of binary options brokers that only accept Bitcoin as the mode of payment / deposit process. There are various Bitcoin-only binary options brokers out there which traders can use to start growing their investments.Some of the all-Bitcoin binary options trading platforms include Trade Rush, AnyOption, Beast Options and Fortune Jack among others. Use these brokers to maintain your anonymity while trading Bitcoins. Heres a list of brokers that accept Bitcoin deposits and withdrawals.So far, Bitcoin gambling is still legal in most countries. There are still no specific laws governing the activities associated with Bitcoin gambling. Brokers that accommodate Bitcoin trades exist because they operate within a jurisdiction where Bitcoin gambling / investing is legal.As long as a Bitcoin binary options operator has a legit operating licence regardless of where it is based in, investors can be assured that all trading activities are 100 regulated. For Bitcoin platform operators, most of them have licences issued in Costa Rica, Eastern Europe and in Panama City.If you would like to invest into something that will give you high return on investments at a short period of time, then consider trading binary options. You dont need to trade big too, most binary options brokers accept small bets to allow traders to get a feel of how their binary options platforms work.With binary options, you can multiply your Bitcoins as long as you stick with a strategy that works.