What if you could make predictions about the future outcomes of an event and organize your investing actions even better? Yes, you could access different markets and explore them differently, and these can be possible thanks to the latest product launched by Phemex.
The Singaporean cryptocurrency exchange has developed the Phemex Prediction Markets, an exciting new product that will let you, as a user, predict by purchasing shares in any market according to the outcome you believe will happen.
How Phemex Prediction Markets works?
With Phemex Prediction Markets, users can explore making predictions on the future outcome of an event in each market or pool. The areas of interest will not only be crypto-related. Phemex will introduce various attractive markets on news, politics, sports, and price targets where users can participate in various types of prediction markets.
A user selects the market in which they wish to participate, then chooses the outcome they anticipate will occur. Finally, they will purchase the relevant shares for the market. Thanks to Phemex’s new product, users can win large rewards after predicting various outcomes of an event. Shares are essentially the percentage of the prize pool that a user owns. If the prediction is correct, the winners will receive all the shares of those who chose the incorrect prediction.
Phemex Prediction Market is easy to use for all levels of investing experience, and the users can earn crypto easily by predicting outcomes in their areas of interest.
To start using Phemex Prediction Markets, you have to follow just 4 simple steps:
1. Select a market and your predicted outcome.
2. Commit tokens or funds in exchange for shares in that market.
3. Check the outcomes to see if your prediction was correct.
4. Redeem your shares to get your rewards.
A typical example of a prediction may look like this:
You buy or commit 100 USDT for 100 shares (1:1) ratio for a result. If you win, your shares represent a more significant portion of the pool you took from the losing parties, potentially a 1:1.2 percentage. So now you can exchange your shares for USDT, but you get 1.2 USDT for every share you have.
Phemex is a financial services company founded on the values of honesty, integrity, and trustworthiness. Phemex moved quickly after observing users’ needs and what could give them a boost to try even more in the crypto area. Phemex Earn product line’s Crypto Savings Accounts provide the same level of security and simplicity as banks, but with much higher stablecoin annual percentage yields (APYs).
The platform again shows its inventory capacity by launching the Phemex Prediction Market, another way it revolutionizes how and what crypto is used for. Phemex’s evolution to become a complete financial platform helps users earn profit by predicting a political outcome, saving some of those profits in high APY accounts, and using another portion for leveraged trading in one single cryptocurrency platform.
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