[Review]Betex Intend to Revolutionalized Binary Option Trading through Blockchain Technology

Binary option is a financial trading model through which traders correctly indicate the price movement direction of an asset at a particular time. Nearly a decade ago, binary option is a lucrative investment through which financial experts and stock brokers make end needs. Reverse is the case todays as binary option has regulators from different part of the world have labelled binary option as shady and scammed business and this has driven away so many traders, hobbyist and enthusiast from trading using binary option but the fact still remain that binary option was being run within a centralized authority which give room for foul play. Binary option was greatly being damaged by gullible brokers through their lust for money.

Betex intend to bring sanity back to binary option through peer to peer trading by using decentralized approach to tackle the major problem facing the traditional binary options which is discussed below;

Transparency: traditional binary option lack transparency. Data storage is not accurate. Betex is using blockchain technology which is very effective due to the way information is being processed (i.e. open access).

Fairness: traditional binary option lack fairness. In fact one of the major problems facing binary option is due to unfairness. Traditional binary option involves traders betting against brokers. So the more the trader loss the higher the profit of the brokers. Therefore, the brokers will do everything to make sure traders lose. Trading binary option on betex will discourage this because trading will be peer to peer. That is, trader to trader and not trader to brokers.

Before trader can get access to traditional binary option platform, initial money is deposited but betex will stop this as no initial deposit will be require before getting access to binary option platform.

Instant payment: Traditional binary option generally delays payment. In some instance payment are not processes for days to weeks. Since Betex platform is making use of blockchain technology which is effective in processing payment. chashout will be process instantly and the money will be deposited to the user wallet.

Traditional binary option has poor reward sharing formula. Reward for traders are fixed which means the sum is known in advanced even before the winning. For betex, the reward the traders will earn depend on the overall amount in the pool and winners can earn up to 95% of the sum in the pool

Some other key benefit of betex platform include low transaction fee which is one of the features of y blockchain technology. Referral commission program which is paid based on the number of users that signed up through the referral link. Multi-based platform interface that grant users access via desktop, PC and mobile platform.

Information about Betex

Betex system will have two tokens which include Stable betting token (SBT) and BETEX. SBT will have a fixed value of $1 which will generally be used in betting on the platform and will also be used as a payment option to both winners and brokers. BETEX will serve as the main token. 50% of the commission generated through the platform will be paid to those holding BETEX token in ETH.

For more information about Betex, kindly visit one of the following links

Article Written by