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Prediction Markets WEB 3.0

How to Use Polymarket Platform to Earn Rewards Predicting the Market 

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How to use Polymarket platform for Punters to earn rewards in crypto predicting the market on blockchain using cryptocurrencies.

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In today’s post, we talk about the information market and a platform known as polymarket, where you can make money by just predicting the outcome of an event.

What is an Information Market?

An information market is a marketplace where people can purchase and sell shares in the outcome of a future event. 

An information market is where people buy and sell shares on how a future event will resolve. Prices change in response to trading activity. You can buy, trade, or sell shares in future outcomes. 

Polymarket

Polymarket is a trading platform for information markets that allow you to trade on the world’s most hotly contested topics (e.g politics, current events, crypto, financial markets, and so on). On polymarket, you develop a portfolio based on your forecast and earn a profit if you are correct. When you decide to invest in a market, you are putting your knowledge, research, and perspective on the table. 

Trading activity is transformed into actionable information that helps consumers make better decisions by market prices reflecting what traders believe are the odds of future events. As a result, Polymarket has established itself as a prominent provider of unbiased, real-time data on upcoming events.

What blockchain is Polymarket built on? 

Polymarket is built on the Polygon blockchain, which enables users to purchase and sell tokens without network fees.

It only accepts USDC, USD Coin (USDC) is a type of cryptocurrency called a stablecoin. Since 1 USDC can be redeemed for exactly $1.00 USD, the price is always stable. Polymarket uses USDC for transaction speed, security, and transparency. You can purchase USDC directly on a centralized exchange like Coinbase, a debit/credit card on Polymarket for non-US residents, or a decentralized exchange like Uniswap

SInce polymarket is based on crypto. The trading times is 24/7. Cool right?. 

Getting Started with Polymarket Platform. 

To get started, connect to Polymarket using either your Magic Link or MetaMask wallet.

For Depositing:

You can deposit using any of the following channel.

  • From an Exchange such as crypto.com and binance. 
  • From a USDC wallet. 
  • Buying through a bank through Debit card. 

Building Your  Portfolio:

Once your deposit is successful, you have all you need to start experiencing Polymarket’s unlimited trading.

1) Click on Markets in the Navigation Bar at the top of the page.

2) Browse the available markets and select one that interests you. 

3) Choose the outcome you believe will resolve correctly in the Buy/Sell Modal. Next, input the USDC worth of shares you’d like to buy.

  • Current market price
  • Price of the market after your action. The larger the order size and the lower the liquidity is, the greater the prices will change.
  • Your Avg. Price: The average price you’re paying for each outcome share. The larger the order size and the lower the liquidity is, the higher your average price will be when buying shares.
  • Estimated Shares Bought: Approximately how many shares you will purchase. This number may change due to external slippage.
  • Maximum Winnings: The amount of USDC you will be able to redeem if you are right.
  • Max. Return on Investment:

4) Click Buy, review your transaction, agree to our TOS and Privacy Policy, and click Confirm.

5) Your transaction will process within 20 seconds.

SELLING AND REDEEMING SHARES

Selling Shares

1) Go to the individual market page, locate the Buy/Sell Modal, and click the Sell

2) Enter the number of shares you intend to sell or click Max. Review the metrics and click Sell. 

3) Review your trade, agree to our TOS and Privacy Policy, and click Confirm.

4) Your trade will process within 20 seconds. Be sure to tweet your trade!

Redeeming Shares

1) Click Portfolio to view your individual positions.

2) Scroll down to see your market positions. Once a market has resolved, the button will change from Trade to Redeem. Click Redeem

3) Click Redeem Winnings.

4) You have successfully redeemed your shares! Check out our other markets to maximize those returns!

WITHDRAWALS

There are three ways of withdrawing funds from the polymarket.

  1. Manual withdrawal 
  2. Peer-to-peer withdrawal
  3. Polygon withdrawal

CONCLUSION

As you can see, polymarket makes it an easy to use information market. Whether you are a speculator, who has seen the opportunity to make some money from it. Or you are just an observer. Polymarket makes it easier for people to see what people are thinking about a certain event and the outcomes, not only just about their opinions, people putting money where their mouth is. 

Now, I would like to know your thoughts on POLYMARKET.

Already using Polymarket? Tell us about your experience.

Do you still have a question about the information market?

Drop your comment in the box below.

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