Are you putting all your life savings into bitcoin expecting the price to rally higher? Or are you taking bets on a price plunge using complex derivatives?



Either way, I have a little tip for you.



There's another way to trade the controversial cryptocurrency and it involves new regulation from New York which was finalized last week.



The U.S. state is ensuring that financial intermediaries using bitcoin will need to obtain a license - known as a "BitLicense." This sort of oversight is likely to mean bitcoin exchanges in the area will ensure their coins are "cleaner" and have not been soiled with some of the unsavoriness that has been associated - rightly or wrongly - with the nascent technology.



This could create an interesting price quirk and allow arbitrage trading - exploiting price differences between similar financial instruments. New York-based coins could be priced at a different level than their international counterparts. If the new regulation spreads to further U.S. states. then the opportunities would increase yet further.



Arthur Hayes, the co-founder and CEO of BitMEX, a bitcoin mercantile exchange, told CNBC via email that New York coins could trade at a premium of 2 to 5 percent.

Read MoreWhy financial firms are investigating bitcoin tech

