What is Augur (REP)? Things to know about the latest REP coin 2020

Augur (REP) Cryptocurrency whose current price is only 1/10 of the peak price of 2018. So…

If you are looking to find out Augur platform and potential invest REP tokens, this article is what you need to find

Augur is a decentralized prediction market (prediction market) platform built on the Ethereum Blockchain in 2014. It is one of the dApps was first developed on the platform of Ethereum at that time.

Nature Augur is a protocol that allows users to create their own prediction market. And the operation process is encapsulated in the following 4 stages: Creation, Trading, Reporting and Settlement.

Prediction market maker must own some ETH and REP token so you can start creating a prediction market for an impending event.

The market maker must set an end time and designate a reporter to publish the outcome of the event.

In addition, the creator needs to set up maker and taker fees so that others can trade the event.

Once the prediction market is created, the user can place a bet on the likelihood of the event happening or not. Users can still trade shares (shares) about that event.

Holders REP can participate in this reporting phase to output the correct result of the event.

If the results are correct, the reporter will receive a reward. If they are wrong then they will lose the corresponding REP number.

The way the Reporting phase works is quite lengthy. Those who want to understand more can refer here: https://docs.augur.net/#reporting

Traders will have 2 ways to close their positions in the prediction market as follows:

REP token is the base currency of the protocol Augur. The REP token plays a key role in maintaining stability, security, and economic incentives for network participants.

Currently REP token is working on the Ethereum blockchain according to the ERC-20 token standard.

The maximum fixed supply is 11 million tokens, the REP is distributed as follows:

REP is used to pay the prediction market creation fee and to participate in the prediction market users have to bet with REP.

Should I invest REP token or not?

Attention: no investment is 100% safe and every decision carries risk. In any case, it’s up to you to invest or not. Here is some useful information that can impact the return on your REP token investment.

The above section has clearly stated the purpose of using REP token. It is mainly used to participate in the prediction market which is made up of 3 factors: prediction market maker, trader and reporter.

This being said, as more people enter the prediction market, the supply of REP tokens outside the market will decrease. This will cause the value of the REP token to increase.

For now, though, the platform Augur of the REP token is having some issues that make it difficult to develop and the community needs to question it. These issues have been reported and detailed by Binance Research itself. Readers who are interested can refer to this link: https://research.binance.com/analysis/augur-design-flaws

REP token price

Gia-rep-token

Currently, at the time of writing price REP token is being traded at 12.79 USD. Level highest REP price so far is set at 108.43 USD (January 2018). That is, compared to the peak price, then SNX token price currently dividing nearly 10 times, a difference worth arguing.

Meanwhile, SNX’s all-time low of $0.783 was set on September 4, 2016.

Where to buy and sell Augur tokens (REP)?

At the present time, investing in cryptocurrencies as well as buying and selling cryptocurrencies has become much more popular. It is considered one of the most popular ways to make money online. That’s why, the buy REP, sell REP has also become much simpler.

In this article, I will introduce to you the 2 most popular and simple ways to buy and sell at the moment.

How to buy and sell REP tokens in VND

Currently, there are many exchanges that support cryptocurrency trading in VND, but separately buy REP For prestige, I think the best currently is the Bitmoon exchange.

See more articles: What is Bitmoon? Bitmoon Exchange Basic Guide for Newbies 2020

The advantage of Bitmoon is low fees, high liquidity, support for many coins and can store coins right on the exchange. Besides, Bitmoon has been operating for a relatively long time and the reputation level is guaranteed.

Bitmoon has high liquidity and reputation, so I believe that for basic trading needs, cash out in VND, Bitmoon is enough to apply.

Reputable international REP token trading platform

The advantage of all international exchanges is that they support many types of coins, besides also supporting other forms of trading such as Margin, Futures.

For those of you who have traded a lot and have experience, you can use and trade regularly on international markets.

Below is the name of the exchange and a comparison table of transaction fees for your reference.

If you want to learn about which floor, you can click on that floor’s name in the table, there will be a detailed article on that floor.

Exchanges Transaction fee
Binance 0.015-0.100%
Bitfinex 0-0.2%
Bittrex 0.25% (most sour – should not trade)

Mainly trading REP Your account on international exchanges uses ETH, BTC, etc. to buy and sell.

Augur wallet should use

Depends on usage REP token your wallet that you will choose for yourself the appropriate wallet.

Suitable for those who want to store REP long term and few transactions.

The advantage of cold wallet is that it is safe and optimal for storage. Cold wallets you can refer to to choose from are: Ledger Nano S, Ledger Nano X.

Maybe you are interested: What is ledger nano S cold wallet? Latest User Guide and Security 2020

Since TUSD is an ERC-20 token, you can completely use current popular supporting web platforms such as: MyEtherWallet nice MetaMask.

Maybe you are interested: What is MyEtherWallet? Instructions on how to create a MyEtherWallet wallet and how to use it

The best choice for this wallet is Trust Wallet, with a friendly and easy-to-use interface.

Maybe you are interested: What is Trust Wallet? How to create a Trust Wallet and use details

This wallet is suitable for those who regularly trade.

Some Reputable trading platform that you can refer to are: Bitmoon exchange, Binance exchange…

Conclude

This article has summarized the most basic information you need to know about Augur . protocol and REP token. With this article, I hope that readers can grasp some of its investment potential.

Although it will take some time to read the entire article, I hope that your time will not be wasted.

If you find the article interesting and useful, do not hesitate to share it with your friends.

Good luck!

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