BETEX: Bet Big In Binary Trading On The Transparent Platform

Binary option, or asset-or-nothing option, was highly favored as derivatives instrument for thousands of brokers and traders. The simplicity of the instrument that allows investors to guess whether or not a specific event will happen raked an estimated $30 billion annually for the market. However, dishonest brokers, shady practices, and opaque terms have resulted in tougher regulation and stricter stance by government agencies. Despite concrete efforts by the industry to regain credibility through ad campaigns, most people remain wary of entering the market.  

Trust is arguably the most fragile quality in the known universe; easily lost, difficult to regain. unless you can comprehensively prove your worth. A copious amount of information is required to establish trust, especially in the financial industry. Investors must also have access to an honest, transparent, and secure platform where they can safely execute their bets without worrying about the integrity of the operators.

This is what BETEX, a revolutionary peer-to-peer platform on the blockchain, is developing a transparent ecosystem for binary options and other derivatives. Through the disintermediation of services, BETEX allows users to directly bet against each other with no third-party interference.

“Our mission is to bring unprecedented transparency to the derivatives’ market, as well as develop the new derivatives, which won’t leave any chances for the old shady trading instruments to exist,” explains Oleg Torkhov, CEO of BETEX.

BETEX’s specialized and ready-to-use solution offers the following benefits:

• Traders: A steady stream of earning opportunity if they can correctly indicate a short- or medium-term trend in the price change of the selected basic asset (trading pair).
• Brokers: Commission fee of 2% of the total amount of their users’ bets
• Investors: 2.5% of the total volume on the platform is distributed among token holders. Each token holder automatically receives a part of this commission based on the number of tokens they have

 Betex is seeking to reintroduce binary options trading with the versatility and transparency of the Ethereum blockchain. Offering peer-to-peer trading, the ERC-20 tokens and smart contracts of their system will allow for full disclosure of fund movement and procedure. With up to 95% of the results of betting to be going to traders, Betex provides a lightweight system for betting. 

BETEX MVP is already available on two websites — https://Betex.io and https://GoBet.io — showcasing the advantages of its common liquidity pool concept

An Ecosystem Like No Other

Unlike traditional platforms, BETEX provides access to real-time data and records all information on the blockchain, thereby, ensuring absolute transparency of its system. Liquidity on the platform is secured through a white label scheme connecting traders to brokers and maintaining the integrity of the ecosystem. The platform will also distribute 95% of the pool among winning traders and take 2.5% for commission fee while distributing the rest among token holders.

“All transactions will be publicly available for any checks. No one, including the platform, will be able to influence the process.” 

If we take a closer look at the blockchain-powered model presented by Betex maintaining the transparency of the process, we can determine a couple of advantages both for users and brokers. 

The Mission

Oleg Torkhov, CEO of Betex stated, “Our mission is to bring unprecedented transparency to the  derivatives’ market, as well as develop the new derivatives, which won’t leave any chances for the old shady trading instruments to existing. All transactions will be publicly available for any checks. No one, including the platform, will be able to influence the process.

A Decentralized Way of Trading Derivatives

Complete access to real-time data which results in full transparency, accuracy and the similar mechanism for everyone involved in the process. However, the platform facilitates user to bet on future changes, but the company itself is not at all involved in betting. BETEX only gets service fees from the result of betting.

By creating one common pool for all trading asset, the platform determines higher liquidity across the derivative markets.

The BETEX platform support brokers set up their business in no time by providing white label model. Also, minimizes the entry and setup costs. The white label model doesn’t permit any scam over the platform.

Derivatives based on Ethereum smart contracts ensure immediate withdrawals and quick confirmation. With this, the payments are automatically transferred to user’s ETH address.   

Moreover, users can access BETEX features without any initial payments or deposit.

Winning traders can get 95 percent of the pool whereas remaining 5 percent commission is for BTEX platform (2.5 percent is transferred to BETEX token holders). 

Security assurances

BETEX will be registering with governing authorities including SEC following the token sale.

“We are aiming to attract funding of $4,750,000. This budget will cover one year of active development and promotion of the project,” added Mr. Torkhov.

The Betex MVP offers a clear understanding of the concept behind BETEX model and liquidity mechanism and to find out more about the project, you can read BETEX’s whitepaper.

Looking Ahead

The Betex platform should bring new life into the field of binary options trading. They have painstakingly developed a system that is founded on transparency, honesty, and fairness. In doing so, their users will now have a safe way to trade binary options without having to worry about scammers and deceitful trading methods. 

The Betex team is committed to continuously developing and improving their platform as a way to ensure the quality for its users and as a way to draw in new users. During the first quarter of 2018, the company will undergo testing on its mobile device applications for Android and IOS. They will also test their desktop application. In the second quarter, they will work on developing an application programming interface for trading bots. During this quarter, the tokens will be distributed and the mobile and desktop apps will launch. By early 2019, the company plans to expand out into the global market. Betex aims to become the new global leader in binary options trading. It is the right time for a new system of binary options trading to come along that can allow the innovative trading method to realize the promise it showed when it first came on the scene. No other company is in a better position to reinvigorate the binary options trading field. 

BETEX Token

Within the main token sale, the price of BETEX tokens is fixed and equals $3. The token sale will last from March 1st to March 31st, 2018. 30% of tokens total (3,000,000 BETEX) will be available during the main token sale. The minimum purchase amount is 0.5 ETH or 0.05 BTC.

They have decided to bring trust of the people as the main source of motivation for the development of the platform. The Token is the value exchange on the platform and one of the many features of the platform is the instant payment. The team has the right mix of talent and experience which will bring transparency to the market through the application.

• Start of ICO:01.03.18 at 12:00 GMT
• End of ICO:31.03.18 or 3,000,000 of BETEX tokens are sold out
• ICO BETEX token price:$3.00
• Max amount of tokens to be sold:3,000,000 out of 10,000,000 (30%)
• ICO hard cap:$ 9,000,000
• Min purchase amount:0.5 ETH or 0.05 BTC 

To invest and get BETEX tokens, visit the Betex website and press ‘Buy Tokens’ to get started. After singing up, you will access the Investor’s Dashboard with all further instructions for the tokens purchase. 

Why Invest Today?

The number of BETEX tokens available for sale is strictly limited to 3,000,000. 2.5% of the total volume on the platform will be distributed between the BETEX token holders. Each token holder automatically receives a part of this commission accordingly to the number of tokens he has. The official launch of the Betex platform is also planned for March 2018, which means that the profits of investors will start accumulating since then. Finally, the price of BETEX tokens is likely to increase along with the growing platform turnover.

Conclusion

After a thorough study of the project, I came to a conclusion that this project is not about the binary options, but about the blockchain-powered technology. Betex platform allows users to bet against each other. In case of the binary options, it involves that ‘peer-to-peer’ thing that excludes broker as an opponent. Thereby, the platform also is not able to act as a broker and influence the result. Betex team was able to create a fully decentralized platform where each step is recorded on the blockchain and cannot be changed. One more important moment is the usage of the average price index, which eliminates an artificial pump or dump of the price. 

For more information please visit:
Website: https://betexlab.com/
Ann Thread: https://bitcointalk.org/index.php?topic=2518678
Telegram: https://t.me/betex_ico
WhitePaper: https://betexlab.com/ico/betex-wp.pdf

My BTT:https://bitcointalk.org/index.php?action=profile;u=299304