There are reasons why this kind of thing is usually regulated. For excellent historical and introductory material, look at the coursera course "Financial Market

There are reasons why this kind of thing is usually regulated. For excellent historical and introductory material, look at the coursera course "Financial Markets" from Yale (also on Youtube). Actually while I have never seen a legitimate use for binary options elsewhere, they are more attractive in the bitcoin domain, where you really really want to limit downside risk. even at the expense of all other aspects of risk management...