The ICO by SPECTRE is a project that is important to us. As long time FX and Binary Options traders, we can clearly see why SPECTRE is so important by intitiating a major change to the world of online trading. If you follow our Blog for some time, you might have seen a few posts about these guys. To sum it up for you in a few sentences: The world of FX and Binary Options trading is different than trading with cryptos with exchanges. In Cryptospace the model how an exchange earns its rewards is clear – fixed commission fees, based on transactions. This is very different when it comes to Binary Options or B-Book FX Brokers. Simply put: These models have one thing in common: House vs Traders. Traders win = House Loss. Considering that the tech platform for all these trades is given by the house, you can imagine the massive conflict of interest and potential to scam the traders over the table back and forth, back and forth. SPECTRE wants to approach this problem by placing smart contracts between the traders and the house, in fact there is no real “house” anymore, but a funded liquidity pool and tech, which is managing the payouts and distribution of wins and losses on defined rules. No bad will, no begging to get your money – just code, that provides a fair base, real equality for all participants.
Binary Options – High Risk Trading in Shady Places
Binary Options are mostly short terms trades, where you try to predict if the price of an assets stays above or below your entry level for a fixed time. E.g.: You place a call on EURUSD at 1.1868 with an expiry time of 5 minutes. Once these 5 minutes are over you will be rewareded with 75% of your bet size if the price is above the entry level or you will lose 100% of the used funds for this trade if below. Binary Options are often considered to be shady – and that for a reason. If you start to take a look into this industry you will find a – apologize the wording – truly f#cked up place. Smeary snake oil sellers everywhere and endless call center terror to squeeze the last penny out of your pocket. Despite the fact, that we think Binary Options are the most purest form of trading, we would recommend to use it just a handful of real traders, which are perfectly knowing what they are doing. Getting rekd is way to easy in this space – and if you are used to day trade cryptos, you will be astonished how fast your balance will drain down to zero when trading bins. Binary Options are highly addictive by nature, they stress the usual trader and ping the lizard brain, making many people losing very much money. But again, if you know what you are actually doing, you can gain very high rewards, much better than in any other trading industry. For that you 1. need to know what works on short time trades, 2. have a strict trading and money management plan and 3. must stay in full control of your emotions when it comes to trading and be able to deal with fast losses. Again, we would not advice anyone to trade binary options with real money if these points aren’t fulfilled.
The Transformation of Binary Options to Smart Options
On top of having Binary Options as one of the highest risk financial trading instruments ever, you have an almighty broker against you. You won’t believe the ways they have to beat your win rate down. And this is why there is a major need for a project like SPECTRE. Handing the control over to smart contracts and removing the broker out of the game builds a fair battleground. Furthermore SPECTRE educates its traders and gives the chance to learn binary options trading. However, there will always be people that lose money big time – this is within the nature of this game. By providing a platform, where the transactions are managed by smart contracts SPECTRE creates a fair environment. People are responsible for themselves and if they still lose, they don’t lose because they are scammed by a broker, but because of their very own fault. If they know what they are doing, they will finally be able to gain their rewards without the need of messing with a broker.
The Competition is Around the Corner
While SPECTRE developed a truly unique token model for their stake holders, the competition didn’t sleep. The big brokers can feel that something is around to eat their lunch and they won’t leave the field without a battle. Shortly after SPECTRE came up with its ingenious two-token model of a dividend paying token for investors and a utility token for the traders on their platform (gives them better trading conditions like higher payouts), big players like IQOption came up with the OTN token, which copies many of the ideas of SPECTRE. Don’t get fooled. These companies are out to drench every single $ out of you they can get, don’t dare to think they want anything good for you. Just. Stay. The. Phuck. Away. Let’s take a look into the recent history for example when the guys behind Anyoption ICO’d with STOX – see that corpse of a result here. While we think SPECTRE has yet much of work in front of them, like creating a UX and a design for their platform, that does not look like from 2006, we can clearly say Smart Options IO knows the company from the inside. The SPECTRE team knows their stuff when it comes to trading, Fintech, research and development and the financial markets.
If you did not yet had a look into the SPECTRE ICO yet, you want to do it right now. There are yet six days to go to participate in this promising ICO with a dividend paying token.
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