Cryptocurrency binary options are a type of financial derivative that allows traders to bet on changes in the price of cryptocurrency over a certain period. An option is a contract in which a trader either profits from a correct forecast or loses their investment if incorrect. It's a high-risk instrument due to its short-term nature and market volatility.

Crypto binary options emerged in the early 2010s amid growing interest in cryptocurrencies and online trading. They offer a new way to profit from digital currencies. Their popularity surged, attracting both newcomers and experienced traders. However, regulation in this area remains ambiguous.

On a specialized platform, a trader selects an asset and deposits funds. Then, they set a time frame and predict whether the price will rise or fall within that period. Depending on this, after the option's expiry, the trader:
a) receives a fixed amount predetermined by the option's conditions, considered "in the money."
b) loses the stake, considered "out of the money."

In such a case, the user will receive a refund of the entire deal amount.