BETEX vs. Standard BrokersBinary options trading has taken a lot of heat in recent years. What was once a promising industry has now stagnated because of high-profile scams and a widespread lack of accountability. Advances in blockchain technologies offer solutions, which could turn the fledgling industry into a powerhouse. To do this, the industry needs integrity. Traders must be able to trust that the system is equitable. Betex Lab limited has created a platform that solves the trust problem that has burdened the binary options industry.
Betex uses an innovative business model characterized by peer-to-peer binary options trading and unprecedented levels of market transparency and fairness. They key difference is that traders bet solely against each other; never against brokers. The model relies on Ethereum smart contracts. The following review will discuss the differences between Betex and standard brokers. It will also provide an overview of the betting process and the initial coin offering.
Comparison Between Betex And Traditional Binary Options Trading
Transparency
Blockchain technology allows information about prices, available assets, and market depth to be accessed by anyone at any time on the Betex platform. This transparency is important to making the trading run efficiently. Traditional trading systems, like Forex, lack transparency. This presents several obstacles. It puts investors in a position where they need to form bonds of trust with trading partners. A lack of transparency also makes it difficult to verify transactions and limits the productivity of the market. Transparency issues can also linvite scams.
Provable Fairness
With standard brokers, the broker takes part in the betting process. This gives them an incentive to make sure the results of the bet work in their favor. Betex does not bet. Instead, it collects service fees that do not change no matter what the outcome of the bets are. Therefore, they have no reason to manipulate the results of the bets. This means you can trust that the betting process is fair in a way you cannot with most other trading platforms.
Instant Payouts
Withdrawals typically take days to go through when it comes to traditional brokers. Because Betex uses smart contracts, payouts are released immediately into your Ethereum wallet. The whole process happens automatically. This is a clear advantage over other trading platforms. No one wants to wait a week or more for a payout when they can have instant gratification. In addition, many of the other trading platforms only allow for one free withdrawal a month. Otherwise, you have to pay for withdrawals. You do not have to worry about that with Betex.
No Deposits
Platform users have access to all the operations and benefits Betex has to offer without having to deposit funds into the system. This means you do not have to worry about transaction fees, and you do not have to go through the hassle of making deposits. Most of the popular binary options trading services out there require a minimum deposit anywhere between $5.00 and $10.00. Some even require a deposit of $200.00 or more. Meanwhile, your maximum return could be as low as 80%.
Greater Control Over Your Money
One of the clearest benefits of the Betex platform is that users have significantly more control over their money. When you go through a regular broker, there is always a risk that scammers could end up robbing you of your money. With Betex, you do not have to worry about this. The platform was specifically designed as a solution to the scamming problem associated with traditional binary options trading. This is especially important because the industry is full of unregulated brokers and even the regulated brokers cannot fully be trusted. For instance, the broker could go out of business and abscond with your cash.
Limits
Another problem that arises with traditional binary options trading is that brokers are not going to pay up if you are lucky enough to consistently win large sums of money. They will find a way to limit you, either by restricting trade size or limiting bet exposure. The blockchain-backed Betex eliminates this problem. On the Betex platform, the users constitute a common pool of liquidity. Once the result of a bet comes in, 5% of the total bets goes to the commission. The remaining 95% is distributed across the winners who accurately predicted the price movement. This will always be true.
The Betting Process
The process is simple. As a trader, you select a trading pair. You will also hear the trading pair referred to as an asset. Once you have chosen a trading pair, you select a trading interval. You will have your choice of six time intervals. Next, you will select the amount of money you want to bet. The last step is to predict which direction the price will move (call or put).
Brokers can engage with the platform via the White Label solution. The mechanisms and systems of the Betex platform can be implements on the broker’s own domain. Betex will also provide them with technical support.
The betting process is facilitated by an easy-to-use user interface. You can see how simple the platform is to use with this live preview:
Conclusions
Betex revolutionizes binary options trading. The company found a way to use Ethereum smart contracts and advances in blockchain technologies to resolve the dishonest and unfair trading mechanisms that threatened to wreak havoc on the industry. By restoring the trustworthiness and reliability necessary to maintain an efficient trading system, Betex is in a position to bring new life into the industry of binary options trading. Moreover, it is the only trading platform of its kind where 95% of total bets are distributed across users who made correct asset predictions. This is your chance to be a part of groundbreaking movement that could change the industry as we know it.
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