Phemex has just announced the launch of a new financial product called Phemex Prediction Markets. Phemex Prediction Markets is a real-time information market platform that allows traders to place bets on prominent real-world events and topics and win rewards for getting the right outcomes.
This product is going to be great for people who love to anticipate hot events and upgrades going on in crypto as well as those current event junkies.
Moreover, it’s a financial tool that will reward those who pay attention to global and crypto events. The more you know, the more likely you’ll be able to anticipate the correct outcome.
Phemex is the first exchange to create this type of product where users can purchase shares in their specified market of interest.
What Are The First Prediction Markets On Phemex?
The first two prediction markets that we launched are of course about the upcoming Ethereum Merge.
First, you can choose to participate in a general price prediction competition where you simply guess whether the price of ETH will be higher or lower one week after The Merge. Second, you can participate in a more targeted competition where you predict whether the price of ETH will be above a specific price point such as $1,550 on September 11th (a few days prior to The Merge).
What Are The Benefits Of Prediction Markets?
What’s great about this new product is it can offer traders a way to hedge their investments by playing both sides of the fence as well as gather market insights about what other traders are perceiving will happen in the future. So it can be used to earn money betting on opposite outcomes, as well as getting more validation from other traders about specific crypto or non-crypto-related outcomes.
Phemex is releasing a slew of new products such as copy trading, new contract trading pairs, new learn and earn lessons, and now a prediction market. So this signifies Phemex’s efforts in creating an all-inclusive platform for crypto financing that will help you break through and take your finances to the next level.