Spreadex have become the second spread betting firm to allow betting through the use of bitcoin – a virtual, decentralised currency that has been growing rapidly in popularity. Bitcoin first became available in July 2010 when it began trading through a dedicated exchange at MtGox.com; the currency was adopted by speculators and those wishing to make transactions outside of government control. This popularity saw several rises and falls, none quite as big as the recent fluctuation in price where bitcoin grew a staggering 2000% in a matter of weeks.
These price movements were dramatic, and resulted in bitcoin making the news across multiple global platforms including the front page of the FT. Since then, IG adopted bitcoin as a method of placing binary bets; and now Spreadex have offered bitcoin as a funding method for trades.
At this moment in time, Spreadex only accept bitcoin bets made over the phone.