How to Buy Augur Coin – Beginner’s Guide
Augur is a prediction market protocol built on the blockchain. The market creates universal and transparent access to its markets. In this guide, we’ll explain what augur really is and how to buy augur coin.
Where to Buy Augur Coin
Let’s explore some of the best cryptocurrency platforms where you can buy augur online.
1. Coinbase – Best Platfrom to Trade Augur Crypto
The Coinbase platform allows users purchase, sell, and store cryptocurrencies. The exchange offers around 240 tradable assets, that includes Augur. Traders who make high-volume transactions and want more options should choose Advanced Trade over Coinbase.
It’s pretty straightforward to use the platform. Users can track the prices of different cryptocurrencies with their watchlist, just like many other trading apps. Traders can also check the biggest movers in crypto. Coinbase Card allows users to earn rewards by spending the assets they own.
- There are multiple deposit methods available
- There are business options available
- Learn about cryptocurrencies while earning cryptocurrencies
- Tools that are good for education
- There is no minimum deposit specified
- There is only an English version of the website
- Prior to investing, you must learn
Your capital is at risk.
2. Binance – World’s Largest Crypto Exchange
Binance holds the record as the world’s largest crypto exchange due to the large trading volume it boasts of. This is due to the number of crypto assets traders can stake on in the Binance platform. The Bitcoin exchange is also hugely popular due to its low trading fees of just 0.1%, making it one of the best platforms for you to monitor Augur’s price action. It is also user-friendly, making it easy for you to place your order within seconds.
Binance offers a comprehensive view of the crypto asset you want to trade as you can view trading charts of Binance, Trading View, and look at the trade depth to understand better how it may play out. It also offers crypto swaps, allows you to earn from your crypto holdings, and offers synthesized versions of publicly traded stocks like $TSLA and $COIN.
If you are wondering how to trade on the Binance platform, it is very easy to do. All you need to do is create an account and verify your account with a recognized ID. You will also need to take a face recognition test, and this can be frustrating sometimes. Binance lets you deposit through bank wire transfer, peer-to-peer (P2P), debit/credit cards, and through e-Wallet providers like PayPal. Once you have made your deposit, you can buy and trade Augur crypto easily.
- Hundreds of crypto assets are supported
- Trading fees of just 0.1%
- Largest crypto exchange by trading volume
- Offers earnings scheme for crypto savings
- Supports most payment methods
- Offers synthesized stocks for crypto trades.
- Bank deposits are slow
- Not regulated
- Not ideal for crypto newbies
- Face recognition can be frustrating
Your capital is at risk.
What is Augur?
Augur is a crypto protocol built on the popular decentralized finance (DeFi) platform Ethereum. Augur crypto helps DeFi users predict the outcome of events. Its ERC-20 token, called Reputation Token (REP), uses what it calls the “Wisdom of the Crowd” to make forecasts on future events.
Essentially, it is a decentralized marketplace for predictions as it utilizes swarm intelligence to estimate the outcome of events in the future.
With this, the crowd predicts a variety of events. Augur also lets these decentralized sample participants create a prediction market themselves and actively add other prediction pools. Users can bet on politics, world economics, sports, crypto, and geographical events worldwide.
Augur aims to take away the traditional betting market and move it to the DeFi space, thereby allowing anyone from anywhere to bet on the topics they feel familiar with. By this, it aims to become the largest betting market in the world or even the largest cryptocurrency by market capitalization. Augur enables users to buy shares based on the outcome of an event on its platform. The price depends on the probability that the selected event will happen. Based on the sample feedback received from the data, forecasts are then made on a wide range of possibilities.
Augur was launched in 2018 by two former Ethereum developers, Jack Peterson and Joey Krug, who felt that the present betting market was rigged to favor the betting platforms. The REP tokens created to incentivize users are limited to just 11,000,000 REPs, and the total supply has been reached. It is currently listed in over 30 exchanges and is gaining wider acceptance by the day.
Augur Analysis – Is Augur A Good Buy?
In 2018, the gambling or betting industry was worth a whopping $449.3 billion. In 2019, the valuation shot close to $490 billion, and industry experts are saying this flourishing industry may attract close to $525 billion by 2023. These are huge figures and show the potential the Augur betting market has. Augur boasts of over $253 million fully diluted market cap, and this is just from its sports betting alone. If it adds more functionality and creates more betting markets for users, we could see it rival the likes of Flutter Stars Group, GVC Holdings, and the other big players in the industry.
Augur Coin Price and Prediction
Augur was officially launched on July 9th, 2018, and has seen significant price movement in the past two and half years. 1 REP token changed hands for a whopping $102 before the market correction.
Presently, it goes for just under $25, with the price fluctuating given the fragile state of the crypto market.
But despite this, industry experts are bullish on the crypto project and have made a forecast of Augur’s crypto surging north of $50 with an expected profit of 125.4% in the next few months. According to them, this is due to the growing social awareness surrounding the decentralized betting platform. With top crypto exchanges like Binance, Gate.io, and others listing it, Augur’s REP token may be a catch you can’t afford to miss.
Ways of Buying Augur
There are numerous ways to fund your account for trading Augur crypto. Several cryptocurrency exchanges have different funding options. We’ll discuss a couple below.
Buy Augur with PayPal
There are fewer platforms that allow you to buy Augur coin with PayPal when it comes to payment options. We found out that most of the funding options that enable PayPal methods are mostly peer-to-peer exchanges, which are quite risky, to be honest.
Buy Augur with Credit / Debit Card
If you do not own a PayPal account, some exchanges allow you to fund your crypto account using traditional credit or debit cards.
Platforms like Binance support credit/debit card payments.
Best Augur Wallets
Digital wallets like Bitcoin wallets are necessary if you are keen to trade cryptocurrencies. Just like what your physical wallet does, it stores your crypto funds and protects them from bad actors. So, we will briefly touch on a few digital wallets you should look at to store your Augur crypto. One popular option is MyEtherWallet. Although created originally to support only Ethereum’s Ether token, MyEtherWallet has become the go-to digital wallet for all ERC-20 tokens. Augur is an ERC-20 token which makes it eligible to be stored on MyEtherWallet.
It features a simple setup and mobile app, allowing you to create an account and transfer your tokens within just a few minutes. You can also make trades with your MyEtherWallet, which is one of the added benefits of using digital wallets. Exodus Wallet is another option available for traders on both Android and iOS devices.
Augur coin has a presence in popular social media destinations for crypto investors on the Reddit platform. You can join the fledging community through its official Reddit account r/Augur. Here, you will learn about the ongoing development of the betting platform and connect with other crypto investors on the forum.