For Clarity, Augur (REP) is an ERC-20 Token.  The real-world use for blockchain technology and cryptocurrency became an everyday thing with the coming of decentralized finance.

Augur is used in sports betting and predication markets to make bets.  The Augur’s Token REP is locked in to a third party escrow account by anyone willing to bet with Augur. User who win are rewarded with Ethereum (ETH).

REP tokens have an independent value.  They trade on major exchanges.  Those who want REP can buy them from exchanges and win them in pools. Sometimes it is used as a governance token to dispute the event outcomes.

To buy Augur (REP) users open an online account, buy a hardware wallet or software wallet and then make their purchase.  After purchasing they can trade or sell their cryptocurrency.

Balaji S. Srinivasan, Former CTO of Coinbase in the past when talking about Augur stated, Blockchain-based prediction markets may be the one force strong enough to counterbalance the spread of incorrect information on social media. They give people a financial incentive to seek the truth and then protect them with the twin shields of pseudonymity and decentralization.”

Augur is better because best bettors have a hard time as their limits are lowered and their accounts are closed.  The betting industry promises the idea of getting rich quick and they use all the tricks in the book to make customers invest their maximum in betting.

Augur being a transparent exchange does not impose limit on what the users can bet on and there are no max limits on the accounts.  There is no roll over either.

Ryan Berckmans, Predications Global have stated, Augur is a substitute for betting platforms that charge high fees, ban winners, delay withdrawals, freeze accounts, aren’t globally accessible, lack privacy, and don’t let you sell your bet mid-game.

Augur Not Controlled by a Single Entity

Being an open, global prediction market protocol, Augur permits anyone to create a market for anything. There is no single entity which controls the protocol and it is community owned and operated.

Powered by Ethereum, Augur enables payouts to run as an automated process which no person or organization, including Augur will be able to interfere with.

Reputation token (REP) is not used to trade in the Augur markets, it is used by market creators and reporters when they report on the outcome of markets created on the Augur Platform.  The good things is that Augur permits anyone to create a market about any upcoming event.

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