The market of financial derivatives, including binary options, has always been an attractive one for many people willing to earn money. However, due to the shady schemes and scams, the binary options have lost their reputation and have even been banned in some countries. Now, as the blockchain technology is gaining momentum, many fields are experiencing a rebirth. And this is exactly how Betex is bringing a revolution to how the binary options work.
Betex Binary Options Platform: How It Works?
Betex is a blockchain peer-to-peer platform for transparent financial derivatives trading. Contrary to the shady traditional models, Betex uses the blockchain technology to keep all the information public and maintain the equal conditions for all the players. Within Betex, users bet against each other, which is recorded in the blockchain, where everyone can have access to. The rates are taken from several liquidity providers/exchanges. Thereby, the platform is not able to manipulate results.
Thanks to the smart contracts, users do not need to make deposits or wait for the payouts. The bets are made directly to the smart contract, and the payouts are instant to the users’ ETH wallets.
Finally, users will be forming one shared liquidity pool for each asset, instead of creating multiple ones. 95% of funds are distributed among traders who make correct assumptions, while Betex charges only 5% commission.
To vividly show the advantages of the common liquidity pool, Betex has already launched 2 MVPs in the test net: https://Betex.io and https://GoBet.io.
How Betex Can Be Profitable?
Being transparent and provably fair, Betex is creating a win-win solution for traders and brokers. Traders can constantly earn by correctly indicating the short- or medium-term trend in the price change of the asset. The size of the trader’s reward is limited only by the volume of the general pool of rates and the ratio of the number of bets to each of the outcomes.
Brokers receive a 2% commission of the total amount of their users’ bets. The larger the turnover, the more earnings a broker gets. Thereby, the white label mechanism provided by Betex allows to quickly set up the platform under their own name, as well as get technical support.
The last but not least, investors in Betex can also profit from the exchange through participation in its ICO.
Betex Token Sale Details
To raise funds for the platform’s development and promotion, Betex is holding an ICO campaign and selling BETEX tokens. 2.5% of the platform’s turnover will be distributed among the BETEX tokens holders, according to their investments.
Betex pre-sale is held in 2 rounds, one of which is already live. Tokens will be issued in accordance with SAFT agreement after the pre-sale, once they are generated and registered. The details of the pre-sale can be viewed below:
Start of pre-sale round 1:
04.12.17 at 14:00 GMT
End of pre-sale round 1:
08.01.18 at 14:00 GMT or 500,000 of BETEX tokens are sold out
Pre-sale round 1 BETEX token price:
$2.00 Max amount of tokens to be sold: 500,000 out of 10,000,000 (5%)
Pre-sale round 1 hard cap:
$ 1,000,000
Min purchase amount:
15,000 BETEX
Start of pre-sale round 2:
10.01.18 at 14:00 GMT
End of pre-sale round 2:
31.01.18 at 14:00 GMT or 1,500,000 of BETEX tokens are sold out
Pre-sale round 2 BETEX token price:
$2.50
Max amount of tokens to be sold:
1,500,000 out of 10,000,000 (15%)
Pre-sale round 2 hard cap:
$ 3,750,000
Min purchase amount:
5,000 BETEX
Only qualified investors who have completed the KYC/AML process will have access to the Betex Token pre-sale. The timeframes and conditions of the general token sale will be announced later.