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Augur vs. Bitcoin; Should You Invest in Augur?

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There’s no denying that Augur is unique in the crypto world, but can you compare it to Bitcoin and is it better or not? Find out if you should invest your money or save it for Bitcoin here.

Augur vs. Bitcoin: What is Augur?

Augur is a prediction platform that allows users to essentially gamble on the outcomes of cryptocurrencies. It is decentralized and is a standalone platform that was built on the ETH blockchain. It relies on its users to determine the probability of things happening through crowdsourced opinions. Users set the fees as well. This tends to mean that they are a bit lower than other trading or gambling platforms. Because they are built on the ETH blockchain, they utilize the same smart contract system.

Augur vs. Bitcoin: How is it anything like Bitcoin?

In short, it isn’t at all like Bitcoin. REP allows you gamble with crypto across an entire platform on the outcomes of the crypto you are gambling on. Eh? Yep, you are gambling on the value of your money with your money. Bitcoin, on the other hand, is a completely different platform with a strong independent market presence.

Augur vs. Bitcoin: Should you invest in Augur?

It really depends on your attitude to risk. Downloading the platform and installing it is free. Access to the platform is also free of charge. Carrying out crypto transactions carries fees (often small and insignificant), and placing bets is straightforward to do. However, that is what you’re doing. There are no two ways about it; on Augur, you’re gambling with your crypto and hoping that the predictions of the crowd reflect your own predictions. Even being slightly out of touch with the crypto world could get you in deep crypto trouble. We recommend using REP only if you are fully confident in what you’re doing. You need to know confidently how the markets will change in the future. Given that real-world uncertainties are having such a drastic effect on real-world currencies, it is no surprise that this will roll over into the crypto world. We really think Augur is a neat platform but is for those high risk, high reward gamblers only. It is best to stick to Bitcoin.

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