Just launched a new P2P trading platform for bitcoin - https://www.bitjedi.com
It borrows the best ideas from P2P exchanges and some mechanics from Binary Options.
How it's similar to Binary Options:
- Limited risk / reward
You only risk the amount invested in one trade, not your whole account. There is no margin call. - Simple
You only need to guess: will the underlying asset will move above or below the current price at the time of expiry.
How it's different from Binary Options:
- 100% payout
If you win, you double your money. If you loose, you loose all the investment. - Fair P2P model
You play against each other, not against the house - Not instant
You need to find a match for your trade to go live.
Expiry period counts from the time of the match, not from the time of placing the option. - Improved risk controls
If the market conditions change and you no longer feel that the option you created is reasonable, you can cancel it anytime. - Transparent pricing
1) We take 5% from the winner
2) We charge 0.0001 BTC transaction cost for each transfer (including refunds).
3) Example: if you match a trade worth 0.05 BTC and win, you will receive: 0.1 BTC - 0.0001 BTC * 2 (payout is made in two transactions).
How does it work:
1) Choose asset you want to trade
2) Choose direction (call / put)
3) Choose expiry time (1minute, 15minutes, 30minutes, 1hour, 15hours, 30hours, 1day, 15days, 30days)
4) Choose investment amount (during beta, this is currently locked at 0.05 BTC)
5) Fund your option by transferring funds and wait for the match
Alternatively, browse the market and match options placed by others
Three important points:
1) If you transfer more or less money to the transaction wallet than you should, it will get refunded. You will be charged a tiny transaction fee.
2) Winnings are transferred to the winner only when both deposits from opposite sides are verified by the bitcoin network, this might take between 5 and 30 minutes.
3) Although we have tested this thoroughly, you might encounter bugs, UI glitches, etc. - this is a work in progress, anything can happen. Having said that, we have built the platform with security in mind.
Try it out at https://www.bitjedi.com and let us know what you think.
Your feedback is appreciated!