The problems with binary option are most traders trade against the brokers. These brokers are the firms that provide trading platforms for traders. Mostly they have the upper hand because trading happen on their platform/backend where manipulation of data can be done which will certainly end up to traders losing their money. There is no transparency at all on that making trust a big issue on the industry of binary option. Thus, with these issues BETEX wants to provide solutions.
Betex is a new revolutionary platform designed to radically shift the mindset of users from worrying about the integrity of the platform providers focusing on own capacity to make profits.
Built on blockchain technology, unlike traditional platforms, Betex will provide access to real time data, thereby ensuring absolute transparency to its system by issuing tokens.
To ensure full transparency and fairness, Betex will not participate in the trade but will earn money by charging a fee for services. Since they do not participate in trading, they can not manipulate the results of trading or bidding. The general concept of the pool of liquidity is shown through the company’s MVP. There are three trading pairs and six trading intervals in the MVP network. They will be released commercially in the second quarter of 2018 after the pre-sale Betex token.
How Is Betex Different?
Traders will always place bets against one another. This is what makes it a peer-to-peer system. The traders will never place bets against platform providers or middlemen. The traditional model is inherently flawed. If traders are betting against brokers, it is in the best interest of the broker for the trader to fail. This means as a trader, you have to trust that the broker has integrity.
the Betex model with its business model has highlighted the various problems and hence has preferred a lasting solution as well as benefits using the blockchain technology, they include.
- Outcome of a bet makes no difference to Betex (as the platform provider) or to brokers as neither of them can actively take part in the betting process.
- No deposits are required and an instant automatic withdrawal of funds is ensured (using the smart contracts ).
- Traders who accurately determine future changes are rewarded with 95% of funds, in case of success traders gains largely depends on the rate of the correct and incorrect outcomes.
- Both the platform and brokers can actually prove authenticity and accuracy of the result.
- Trading is realized with the ECR-20 tokens of stable value which is stored and presented in the ethereum blockchain making it possible to audit the platform operations in real time or later
BETEX Ecosystem
- Traders (Bettors): A trader selects one of the trading pairs (assets), which selects one of the 6 trading intervals then decides on the amount of bet and finally choose a direction, in which the price will move in his opinion (call or put)
- Investors: investors can interact with the platform through their personal dashboard where both the platform’s general and investors personal statistics will be stored.
- Brokers: in the first quarter of 2018, brokers will be offered a ready to use solution allowing engaging with the platform by a known white label principal.
Built with Blockchain technology, unlike traditional platforms, Betex provides access to real-time data, providing absolute transparency of the system. Determined to re-open the market of financial derivatives, we are striving to instill an irreversible business logic that will convincingly eliminate the trust problem.
Token
There are two tokens in the system. The main token is BETEX. The second token is a Stable Betting Token (SBT), which holds a stable value of $1.00. The SBT is used in the betting process and in payouts to winners. BETEX token is used for profit’s distribution — 100% of the platform’s profit is being distributed among BETEX token holders.
• Symbol: BETEX
• Price: $2.50
• For sale: 60%
• Platform: Ethereum
• Accepting: ETH, BTC
• Hard cap: $ 3,750,000
Betex Token is the main token in the system. BETEX is issued once in the amount of 10,000,000 tokens. The benefits of the token holders comes from this which 50% of the platform gains.
An important thing to note is that you have to pass KYC procedure to be able to buy tokens. Also token sale is available for Americans — only qualified American investors can purchase BETEX.
Team
The Betex team is committed to continuously developing and improving their platform as a way to ensure the quality for its users and as a way to draw in new users.
The Betex platform should bring new life into the field of binary options trading. They have painstakingly developed a system that is founded on transparency, honesty, and fairness. In doing so, their users will now have a safe way to trade binary options without having to worry about scammers and deceitful trading methods.
For More Information:
Website: https://betexlab.com/
Whitepaper: https://betexlab.com/betex-wp.pdf
Bitcointalk: https://bitcointalk.org/index.php?topic=2518678
Medium: https://medium.com/@betex
Facebook: https://www.facebook.com/Betex-Lab-108138139938618/
Twitter: https://twitter.com/betex_tokens
Telegram: https://t.me/betex_ico
My Profile Link: https://bitcointalk.org/index.php?action=profile;u=1661797