{"id":2972,"date":"2020-12-03T07:26:19","date_gmt":"2020-12-03T07:26:19","guid":{"rendered":"https:\/\/timestampmag.com\/?p=2972"},"modified":"2021-01-11T21:10:33","modified_gmt":"2021-01-11T21:10:33","slug":"polymarket-is-adding-value-to-investors-everywhere","status":"publish","type":"post","link":"https:\/\/timestampmag.com\/2020\/12\/03\/polymarket-is-adding-value-to-investors-everywhere\/","title":{"rendered":"Polymarket is Adding Value to Investors Everywhere"},"content":{"rendered":"<ul>\n<li><b>Polymarket has a unique approach of operating with its blockchain-based prediction market where investors can bet on the outcomes of future events.\u00a0<\/b><\/li>\n<li><b>Polymarket raised $4 million new funding on Oct.19, 2020, through Polychain Capital. Currently, the company has as many as 15 investors. <\/b><\/li>\n<li><b>The website is still in the Beta stage. Besides, regulatory issues may crop up in the future.<\/b><\/li>\n<\/ul>\n<p><a href=\"https:\/\/polymarket.com\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Polymarket<\/span><\/a><span style=\"font-weight: 400;\"> is a decentralized information-oriented market that is built on the foundation of Ethereum. Investors bet in this market on speculations regarding the outcome of real-world events. The affairs in this market are some of the major <\/span><a href=\"https:\/\/timestampmag.com\/2020\/03\/16\/cryptocurrency-development-trends-today-2\/\"><span style=\"font-weight: 400;\">cryptocurrency development trends today<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Simply put, investors can bet on the most debatable topics in Polymarket. For example, investors resort to trading activity on <a href=\"https:\/\/timestampmag.com\/2020\/11\/13\/tim-draper-remains-bullish-on-bitcoin-and-reveals-intents-to-institutionalize-defi\/\">COVID-19<\/a>, election, and other current affairs through actionable insights and help people make better decisions. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Polymarket does not charge investors any fees; it does not keep investors\u2019 money, and there are no trading caps.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">What investors win through trading are solely theirs to keep. With the help of Polymarket, investors can use their logic and insights to make money just by pressing a button.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/timestampmag.com\/2020\/02\/25\/major-crypto-investment-trends\/\">Investors<\/a> can buy or sell \u201cOutcome Shares,\u201d which they can redeem for $1 if the outcome resolves as correct, and become useless if it is incorrect. People who hold outcome shares can sell their position at any time.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Polymarket&#8217;s website is currently running the beta version and uses a Layer 2 solution to ensure scalability and free transactions for users. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The information markets are still transparent, non-custodial, and open source, where Polymarket does not play any role as an intermediary; it does not take any profits, and never hold investors\u2019 funds.<\/span><\/p>\n<h2><b>How Polymarket Works<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The main objective of Polymarket is to harness the power of free markets and collective knowledge to provide investors with an unbiased source of truth regarding significant events that will take place in the future.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Before betting on Polymarket, you need to have the following things:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">An Ethereum wallet or a Coinbase account.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">A debit\/credit card, or USDC<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Google Chrome Browser<\/span><\/li>\n<\/ul>\n<h3><b>1. Sign Up on the Polymarket Website<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">To start <a href=\"https:\/\/gda.capital\/\" target=\"_blank\" rel=\"noopener\">trading<\/a> on Polymarket, the first step is to sign up. Currently, Polymarket&#8217;s website has a login process without a password for maximum security and easy usage.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Even if you use an email, your Polymarket account will remain as your non-custodial <a href=\"https:\/\/timestampmag.com\/2020\/11\/03\/why-are-companies-converting-their-assets-into-bitcoin\/\">crypto wallet<\/a>, and only you have the keys to access it. Follow the steps below for signing up:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Click on the \u201cSign Up\u201d button in green located in the top right corner, enter your email ID, and press enter.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">You will receive an email containing a link that will let you log in. Open the email on your computer or mobile phone and click the button that says \u201cLog In to Polymarket.\u201d\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Go back to the original Polymarket tab where you can log in. No hassles of setting or resetting passwords.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">In case, you are signing up for the first time, you need to select a username, and can optionally enter a referral code.\u00a0<\/span><\/p>\n<h3><b>2. Deposit Amount<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">After signing up, you need to deposit USDC (A cryptocurrency by <a href=\"https:\/\/timestampmag.com\/2020\/09\/16\/bitcoin-taxation\/\">Coinbase<\/a>) to begin trading. USDC is redeemable 1:1 against US Dollars. You can buy this cryptocurrency directly from Coinbase.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Polymarket uses USDC to keep the market completely open-source, non-custodial, and transparent.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Once you deposit USDC, it will work just like dollars, and you will not even feel that you are actually using blockchain technology. You can check the Deposit page by hovering the mouse over your User ID and clicking \u201cDeposit.\u201d<\/span><\/p>\n<h3><b>\u00a03. Start Trading<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Once you deposit USDC successfully, you can take the advantage of unlimited free trading in Polymarket.\u00a0 <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Click \u201cMarkets\u201d in the top navigation bar, and then scroll down and browse various available markets based on Volume, Category, Liquidity, and others.\u00a0<\/span><\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter wp-image-2974 size-full\" src=\"https:\/\/timestampmag.com\/wp-content\/uploads\/2020\/12\/image3.png\" alt=\"\" width=\"639\" height=\"245\" srcset=\"https:\/\/timestampmag.com\/wp-content\/uploads\/2020\/12\/image3.png 639w, https:\/\/timestampmag.com\/wp-content\/uploads\/2020\/12\/image3-300x115.png 300w\" sizes=\"(max-width: 639px) 100vw, 639px\" \/><\/p>\n<p style=\"text-align: center;\"><em><span style=\"font-weight: 400;\">An Example of Trading on Polymarket (Source: <\/span><a href=\"https:\/\/polymarket.com\/how-it-works\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">polymarket.com<\/span><\/a><span style=\"font-weight: 400;\">)<\/span><\/em><\/p>\n<h3><b>4. Keep Tracking Your Positions<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">You can track your position in the market in the following ways:\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">You can check the related market page and click \u201cMarket Positions\u201d below the graph.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">You can click \u201cPortfolio\u201d in the navigation bar to view a list of all your positions.<\/span><\/li>\n<\/ul>\n<h3><b>5. Sell\/Redeem Your Shares<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">You can redeem or cash out your winnings any time before market resolution.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Sell off your shares by going to the market page and identifying the \u201cBuy\u201d and \u201cSell\u201d modal. You need to click \u201cSell.\u201d Enter the number of shares you want to sell or click \u201cMax\u201d to sell all at once.\u00a0\u00a0<\/span><\/p>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-2975 size-full\" src=\"https:\/\/timestampmag.com\/wp-content\/uploads\/2020\/12\/image2.png\" alt=\"\" width=\"382\" height=\"550\" srcset=\"https:\/\/timestampmag.com\/wp-content\/uploads\/2020\/12\/image2.png 382w, https:\/\/timestampmag.com\/wp-content\/uploads\/2020\/12\/image2-208x300.png 208w\" sizes=\"(max-width: 382px) 100vw, 382px\" \/><\/p>\n<p style=\"text-align: center;\"><em><span style=\"font-weight: 400;\">Selling Shares on Polymarket (Source: <\/span><a href=\"https:\/\/polymarket.com\/how-it-works\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">polymarket.com<\/span><\/a><span style=\"font-weight: 400;\">)<\/span><\/em><\/p>\n<p><span style=\"font-weight: 400;\">You can also sell your shares by paying attention to the changes in the trade metrics after you enter the number of shares. Then click \u201cSell,\u201d and confirm your sale.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">After the market is resolved, and if your Outcome Share is correct, you can navigate to the market page and redeem your winnings by clicking the \u201cRedeem Winnings\u201d button placed at the bottom.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">To find out if a market has resolved or not, you can click the \u201cShow Resolved\u201d filter on the \u201cMarkets\u201d page to see the resolved status.<\/span><\/p>\n<h3><b>6. Withdraw\/Cash Out<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">You can withdraw\/cash out your winnings by going to the \u201cDeposit\u201d page and clicking the \u201cWithdraw\u201d button below the \u201cCurrent Balance.\u201d\u00a0<\/span><\/p>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-2976 size-full\" src=\"https:\/\/timestampmag.com\/wp-content\/uploads\/2020\/12\/image5.png\" alt=\"\" width=\"389\" height=\"321\" srcset=\"https:\/\/timestampmag.com\/wp-content\/uploads\/2020\/12\/image5.png 389w, https:\/\/timestampmag.com\/wp-content\/uploads\/2020\/12\/image5-300x248.png 300w\" sizes=\"(max-width: 389px) 100vw, 389px\" \/><\/p>\n<p style=\"text-align: center;\"><em><span style=\"font-weight: 400;\">Withdraw\/Cash out through \u201cClaim\u201d (Source: <\/span><a href=\"https:\/\/polymarket.com\/how-it-works\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">polymarket.com<\/span><\/a><span style=\"font-weight: 400;\">)<\/span><\/em><\/p>\n<p><span style=\"font-weight: 400;\">You can initiate the withdrawal by mentioning the amount you want to withdraw and confirming the process initiation.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In nearly half-an-hour, the \u201cClaim\u201d button will display below the \u201cWithdraw\u201d button, and you can claim your amount. Remember that you can claim it any time once the 30-minute window is over.\u00a0<\/span><\/p>\n<h2><b>Who Funds Polymarket?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">As many as 15 investors currently fund Polymarket. The investors include Naval Ravikant (former CEO of AlgelList), Balaji Srinivasan (former CTO of Coinbase), and Meltem Demirors (CSO of CoinShares).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Other investors are Robert Leshner (CEO of Compound), Stani Kulechov (CEO of Aave), Kain Warwick (CEO of Synthetix), and others. Josh Hannah and Marc Bhargava are the latest additions to the list of investors.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On October 19, 2020, <\/span><a href=\"https:\/\/kryptomoney.com\/information-markets-platform-polymarket-secures-4million-from-funding-round\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Polymarket raised new funding of $4 million<\/span><\/a><span style=\"font-weight: 400;\"> through Polychain Capital. According to Polychain Capital\u2019s management, they are fascinated with the potential of the information markets for some time, and this association is a step to enter the market.\u00a0<\/span><\/p>\n<h2><b>What is the Long-Term Vision of Polymarket?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Polymarket let investors bet on the current world events. The company\u2019s business philosophy is that free markets are ideal for aggregating diverse information in real-time. It means people will be able to benefit from this market with their \u201ceducated opinion.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to <\/span><a href=\"https:\/\/bravenewcoin.com\/insights\/podcasts\/the-information-market-polymarket-lets-traders-bet-on-real-world-events\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Shayne Coplan<\/span><\/a><span style=\"font-weight: 400;\"> (founder of Polymarket), platforms like blockchain, along with a generalized smart contract can develop markets on arbitrary topics, on which investors can easily trade.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">An investor can create a market on anything for a couple of dollars and avoid the bureaucratic risk. On Polymarket, investors bet on the outcomes of future events and earn profit from their prediction accuracy.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This way, Polymarket intends to address the social media problem of aggregating correct statements and transform them into a \u201ccollective knowledge.\u201d\u00a0\u00a0<\/span><\/p>\n<h2><b>Before We Go<\/b><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-2977 size-full\" src=\"https:\/\/timestampmag.com\/wp-content\/uploads\/2020\/12\/image4.jpg\" alt=\"polymarket\" width=\"1406\" height=\"1054\" srcset=\"https:\/\/timestampmag.com\/wp-content\/uploads\/2020\/12\/image4.jpg 1406w, https:\/\/timestampmag.com\/wp-content\/uploads\/2020\/12\/image4-300x225.jpg 300w, https:\/\/timestampmag.com\/wp-content\/uploads\/2020\/12\/image4-1024x768.jpg 1024w, https:\/\/timestampmag.com\/wp-content\/uploads\/2020\/12\/image4-768x576.jpg 768w\" sizes=\"(max-width: 1406px) 100vw, 1406px\" \/><\/p>\n<p style=\"text-align: center;\"><em><span style=\"font-weight: 400;\">Source: <\/span><a href=\"https:\/\/www.pexels.com\/photo\/space-grey-ipad-air-with-graph-on-brown-wooden-table-187041\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Pexels.com<\/span><\/a><\/em><\/p>\n<p><span style=\"font-weight: 400;\">Polymarket is still in the Beta stage, so the platform may not be bug-free just yet. The company suggests investors use Google Chrome, as it may not always work on Safari or Firefox.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While trading on this platform, if you encounter an issue, do not panic because you can always retrieve your funds from your wallet. In such cases, contact the customer care right away.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Polymarket has a unique approach of operating with its blockchain-based prediction market where investors can bet on the outcomes of future events.\u00a0 Polymarket raised $4 million new funding on Oct.19, 2020, through Polychain Capital. Currently, the company has as many as 15 investors. The website is still in the Beta stage. Besides, regulatory issues may [&hellip;]<\/p>\n","protected":false},"author":15,"featured_media":3056,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[2,35,4,104,430,429,428,291,352],"_links":{"self":[{"href":"https:\/\/timestampmag.com\/wp-json\/wp\/v2\/posts\/2972"}],"collection":[{"href":"https:\/\/timestampmag.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/timestampmag.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/timestampmag.com\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/timestampmag.com\/wp-json\/wp\/v2\/comments?post=2972"}],"version-history":[{"count":5,"href":"https:\/\/timestampmag.com\/wp-json\/wp\/v2\/posts\/2972\/revisions"}],"predecessor-version":[{"id":3058,"href":"https:\/\/timestampmag.com\/wp-json\/wp\/v2\/posts\/2972\/revisions\/3058"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/timestampmag.com\/wp-json\/wp\/v2\/media\/3056"}],"wp:attachment":[{"href":"https:\/\/timestampmag.com\/wp-json\/wp\/v2\/media?parent=2972"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timestampmag.com\/wp-json\/wp\/v2\/categories?post=2972"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timestampmag.com\/wp-json\/wp\/v2\/tags?post=2972"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}