Betting and hedging with Crypto

This is about the new betting market protocol called Augur, and this will explain the first steps necessary to get started with betting on the platform.

What can you do with Augur?

1. Bet on anything — politics, crypto, racing, sports…. if you can think of it, you can bet on it.
2. Create markets for betting — From above, it would make sense that if a market does not exist, you can create it. As well, the market creator can charge fees, and this allows you to monetize any topic.
3. Find public opinion on specific topics! Using the features as a poll, you can identify how a specific proportion of the population feels.
4. Hedge your bets against natural disasters! By betting the disaster will happen, you can hedge against it actually occuring.

It is apparent how much value is in this ecosystem, but it can be kinda tedious to set up. This tutorial will cover some of the steps necessary to run the DAPP and get you going. First off, you will need an Edge bitcoin wallet. With this app, you will want to transfer in some eth into your wallet so that you can use it later with the Augur web app.

Next, you will need to go to the Augur documentation to download the DAPP. By following the instructions in the documentation, you should be able to download the application and start it up on your local machine.