Augur is a decentralized platform that rewards its users if they make accurate predictions of specific events. You can perform Augur exchange (REP) on our website, BestRate.org. The predictions can be made about almost any event with any outcome imaginable, regarding politics, movie stars or digital currency market, and the bids can be made by purchasing virtual shares. Their main purpose is to create an accurate forecasting tool.
The reward rules are simple. If your predictions prove to be wrong, you just lose your bid. If you guess correctly, then you get back one dollar per each share you bet on this or that event. The price of shares changes over time. The more people purchase shares for a specific outcome, the higher is the price and vice versa. Thus the participants can earn money by buying low and selling high.
In order to exchange Bitcoin to Augur you need to set up a wallet for both of these currencies first. We recommend to use the wallet named Jaxx.