The thinking of every single person on planet Earth is different from others. Aside from just pessimistic and optimistic thinking, some people have the insights to predict the future outcomes of the problems at hand. For such people, Polymarket is a valuable platform as it lets them bet their ideas on the world’s hot and spicy topics such as politics, covid-19, and Metaverse.
Polymarket is a unique information market platform where you can express your ideas freely. An information-specific market is a platform on which people can trade shares by relying on predictions on how an event may resolve. This versatile platform is built on the famous Polygon blockchain where you can predict and earn rewards if proven right. Everyone has the liberty to register, build a portfolio and forecast future happenings. Due to a vast number of users, Polymarket has become a top source of accurate and unbiased information about highly debated topics.
Polymarket: How Does It Work?
The members of Polymarket can buy and sell outcome shares and later redeem them for 1 USD if their prediction proves right. In case the prediction turns out the other way, it becomes worthless. Possessors of outcome shares can change or sell their position whenever they want because they are never locked in by the platform. Polymarket platform evaluates every byte of information and provides an unbiased venue of truth to all and sundry. This information is not restricted to any specific topic as it covers every happening from all over the globe.
If you are interested in trying this platform then you would need only two things: an Ethereum wallet and some web browser with internet connectivity. The platform furnishes a wallet that is Ethereum-based when users sign up using their email IDs. To begin brainstorming and predicting the future, users are required to deposit some USDC stablecoin into their Polymarket-provided wallet.
In short, you can start with Polymarket in the following simple steps.
- Create your account.
- Buy USDC (Crypto.com is recommended).
- Fund your wallet.
- Start predicting and trading.
Reward Details
Rewards at Polymarket are granted every week. You can earn rewards by trading, predicting, and providing liquidity. Total trading rewards that are going to be showered for this week (week 27) are 300 USDC and 300 UMA. On the other hand, the rewards for liquidity provision are much higher at 7,000 USDC. Furthermore, the platform is available 24/7 because it is based on a blockchain. These rewards might seem ordinary at the first glance but are valuable if considered that you will only have to predict without practically doing anything.
Polymarket has put a remarkable effort into combining the delight of gambling with predictions. As it is based on a DeFi platform (Polygon), it means there are no middlemen at all. This fact significantly enhances transparency and legtimacy. DeFi platforms have changed the landscape of FinTech in a short period which suggests that the future of the economy is in crypto. In nutshell, with Polymarket, you can hedge against all the risks you don’t want.
FAQs
Where is Polymarket Based?
The DeFi platform, Polymarket, is based in New York city in the United States of America.
Which Browsers are supported by Polymarket?
The web browsers that work smoothly with Polymarket include Chrome, Safari, Firefox, and Brave. For Mobile devices, Chrome and Metamask are recommended.
Is it possible to own both ‘Yes’ and ‘No’ shares at a time?
Yes, you can own both “Yes” and “No” shares at the same time in the same market. Holding 1 “Yes” share and 1 “No” share is equal to possessing $1.00 (minus trading fees).
