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The answer to such questions could be both Yes and no. It is indeed possible to get rich with binary options trading. However, this type of trading instrument has substantial risk; much more than stocks and crypto in many cases. It is much more reasonable for a beginner trader to consider binary options trading as a potential form of additional income, rather than a get-rich-quick scheme. Many traders who get into binary options trading lose their capital, especially if too much is put on the line. Before you begin trading your binary options, consider this: Do you actually understand how binary options work? Do you have the time and energy to do initial research, and then ongoing research on strategies, your commodity’s changes, and market changes? Are you prepared to lose everything that you put into your trading? These are all very important things to consider.
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