Today’s post is based on How to Buy Augur Coin.
Before starting the step to step guide to buying Augur I would like to give a short information about what is Augur? For those who just came to know the Augur coin.
Before understanding Augur, first, you should know what is prediction market ?
A prediction market is an exchange-traded market used to create the prediction of the outcomes of events. Here traders are allowed to Buy and Sell shares in the outcomes of events. The market prices indicate that what crowd believes in the outcome of certain events.
Let us understand by an example,
Suppose there are a group of 20 traders. There is two option available for the traders in the market one is Mahesh market share will go up tomorrow and the other one is Fakre shares will go up tomorrow.
According to the perspective of the individual, the group of 20 traders will give their votes to the option which they think are going to win tomorrow (between Mahesh and fakre). Now assume that 12 traders voted for Fakre that his shares are going to be up tomorrow and 8 traders voted for Mahesh. So as more people voted for fakre so the chances of winning Fakre is very high.
This example represents the content of prediction market. As the same operation is done on a huge scale of traders voting. High voting indicates more accuracy in the trading pool.
what is Augur?
Augur title itself as a ‘future of forecasting’. Augur is a decentralized prediction market where participants are rewarded for their knowledge, capacity to gain an accurate and deep understanding, ultimately their ability to predict future events.
The main problem with existing prediction market is that they are centralized. The platform is built on Ethereum. The Augur protocol is a set of smart contracts that are based on the Ethereum Blockchain.
The founder of the Augur is Jack Peterson and Joey Krug. It was founded in the year of 2014.
Now we will see our main topic that how to buy Augur coin?
Buying cryptocurrency is not that much complicated.
How to Buy Augur Coin ?
Follow these steps to Buy Augur Coin.
- Exchange your fiat currency for Bitcoin.
- Use any biggest and reputed exchange platforms such as koinex, Coinbase, Bittrex, Bitfinex, and
open an account with an exchange platform that supports Augur trading.
- Now after exchanging fiat currency to Bitcoins, you need a place to trade it for REP (Augur coin token).
- Here is a list of exchange platform where you can buy and sell Augur (REP).
Get your Bitcoin address
- After opening an account on the exchange platform, get your BTC wallet address.
- Getting a wallet address on a different platform is a little bit
- In most cases, you will find it easily.
- Make sure you have your ‘deposit’ and ‘receiver
- Copy your unique address for the next step.
send Bitcoins to your new wallet address
- Send Bitcoins from your exchange account to your receiver BTC address from the above step.
Trade Bitcoin for Augur (REP)
- After you receive the BTC in your ‘secondary’ exchange account you can trade it for Augur within the exchange.
- The steps for trading in currencies differ platform to platform.
- You have to search for REP/BTC trading pair.
- Click on Buy or “place an order” to buy REP with your BTC balance.
- Thats all now you buyed Augur coin.
How to buy Augur using shapeshift ?
As we know first we have to buy some Bitcoins from any cryptocurrency exchange platform. Then we have to exchange it for Augur. If you don’t know how to buy Bitcoin read our post on this.
Go to shapeshift.
You will be redirected to the home page of shapeshift. Here you will see a box of Asset trade on the right side of the page.
You will see two option “Deposit” and “Receive”. Select Bitcoin in the Deposit option and Augur (REP) in the “Receive” option.
Hit the Continue button. There is also an option of Payment ID you can skip that.
Shapeshift will take you to the page where you will see minimum and maximum Deposit limit.
Scroll down, here you will have to give your Augur destination address and Bitcoin address also in case if the transaction fails then your Bitcoin will be refunded to the given address.
Paste your Augur wallet destination address and your Bitcoin address. You will get Bitcoin address on the exchange platform only from where you Bought it or the wallet where you have it.
Check the box of “I agree to terms” and click the “start transaction” button.
It will take some time to verify your Details. After that, a QR code will pop up on your screen. Near to the QR code, you will see a Bitcoin address. Just copy the address for the next step.
Go back to your Bitcoin wallet click on the “Send” option and paste the copied address into the receiving address option and enter the desired amount of Bitcoin that you want to exchange for Augur.
Click on the Send button and then confirm. Wait for the confirmation on Shapeshift.io you will see “awaiting Deposit” popup. after confirmation you will get your augur.
Store your Augur in a private wallet
- If that you have some Augur, you just can’t leave it on the exchange platform from where you bought it.
- You can move your Augur (REP) coin to a wallet.
- Following are the list of wallets that holds Augur. (Jaxx wallet,Myetherwallet,Exodus,Coinspot,Gatehub)
Augur seems to be a good investment. It has the potential to give the traders at least some amount of profit not now but surely in the future. You can start investing in Augur from now only. If you want to trade on some reputed and fast exchange platforms than you can use Kraken or Bittrex. poloniex is also a good option.
The wording may differ from exchange to exchange but the steps that I told you will remain the same.
So that’s all for the best way to Buy Augur Coin (REP). I hope this post will help you in buying Augur coins.
If you are still facing some issues please to Buy Augur Coin then let me know in the comment section. Also, like and share this post with your friends and family.