Binary options shouldn't be compared to Bitcoin. Bitcoin is a cryptocurrency and largely looks like a currency. You can buy it, own it, sell it and exchange it

Binary options shouldn't be compared to Bitcoin. Bitcoin is a cryptocurrency and largely looks like a currency. You can buy it, own it, sell it and exchange it freely for other things. The same is mostly true for proper regulated options. Binary options are more like a game on a slot machine. You put money in, wait a bit and see if you get money out. You can't own them or transfer them to anybody else. There isn't an open market for them, the counterparty is the broker (i.e. casino). The broker is usually barely regulated if at all, so they can (and do) freely scam people as they please.