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The Singapore cryptocurrency exchange has evolved Phemex Prediction Marketsan exciting new product that allows you, the user, to predict the outcome you think will happen by buying stocks in any market.
How do Phemex prediction markets work?
Phemex Prediction Markets allows users to make predictions about the future outcome of an event in any market or pool. The areas of interest will not only be crypto related. Phemex will introduce different attractive markets for news, politics, sports and price targets where users can participate in different types of prediction markets.
A user selects the market they wish to participate in and then selects the outcome they are confident will take place. Eventually they will buy the appropriate stocks for the market. Thanks to Phemex’s new product, users can win big rewards after predicting various outcomes of an event. Shares are essentially the percentage of the prize pool that a user owns. If the prediction is correct, the winners get all the shares of those who chose the wrong prediction.
Phemex Prediction Markets is easy to use for all investing experience levels and users can easily earn crypto by predicting outcomes in their areas of interest.
To use the new product, users just need to follow 4 simple steps:
- Select a market and your predicted outcome.
- Stake tokens or funds in exchange for shares in this market.
- Check the results to see if your prediction was correct.
- Redeem your shares to receive your rewards.
Phemex is a financial services company founded on the values of honesty, integrity and trustworthiness. Phemex moved quickly after observing users’ needs and enabled them to increase their earnings by working hard in the crypto space. Phemex Earn and Crypto Savings Account products offer the same level of security and simplicity as banks, but with much higher stablecoin Annual Percentage Returns (APYs).
Once again, the platform is showing its ability to launch revolutionary products like Phemex Prediction Markets, another unique opportunity that allows Phemex users to maximize their profits. Phemex’s evolution into a full financial platform has helped users earn profits from participating in prediction markets, save on high APY accounts, and harness the power of leverage trading on a single cryptocurrency platform.