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Prediction markets are quickly becoming one of the hottest commodities in the world of bitcoin and cryptocurrency. Giving everyone in the world the option to wager on any type of event is an intriguing concept. Moreover, it goes to show harnessing the wisdom of the crowd can potentially lead to more precise results. Below are some of the top cryptocurrency prediction markets to keep an eye on.
BitBet
It is possible a lot of people have never come across the Bitbet platform before. Anyone looking into prediction markets will be somewhat familiar with the platform, as they offer anonymous betting and trading. Users can add their own events, ranging from politics to sports. All funds are stored in a cold wallet for added security. However, the platform looks a bit unprofessional, which may turn off some people.
BetMoose
When it comes to finding a convenient prediction market platform, BetMoose checks all of the right boxes. They even offer two-factor authentication, which is a positive development. Creating events takes a few seconds, and users can even earn a portion of revenue for creating an event. Mobile users may have a bit of a hard time navigating the site, though, although the developers are working on improvements.
Fairlay
It has to be said, Fairlay is perhaps one of the most comprehensive platforms when it comes to trading events. Signing up for an account and creating new events takes mere seconds, which is a positive sign. However, it appears Fairlay is not accessible by UK residents. Although the site layout is a bit basic, it looks better compared to BitBet. It is also worth noting Fairlay operates on a zero-fee structure.
HiveMind
Hivemind is one of the few open source peer-to-peer oracle protocols in the prediction market industry. The platform also allows for anonymous payments, which is quite appealing to specific users. For now, Hivemind is accessible on Windows and Linux, although mobile support is on the horizon. The only downside is how everyone who wants to partake in this prediction market needs to install and run the software client. Then again, not having a centralized front-end is a big bonus.
Augur
Hardly anyone will dispute the fact Augur is the market leader when it comes to cryptocurrency-based prediction markets. The million in funding raised during their token sale has certainly been put to good use. Augur uses the Ethereum blockchain, making them one of the very few prediction market platforms to do so. Moreover, Augur ensures all of the funds are stored in smart contracts, which self-execute. Not having to trust a third party with funds is incredibly valuable. Augur is also open source and features many different trading events. For the time being, Augur remains in beta, and it appears their mobile app may need a bit of tweaking moving forward. Other than that, Augur is by far the go-to platform for cryptocurrency-based prediction markets.
Chuck Reynolds
Contributor
