What is Gnosis (GNO)? An Analysis of the Next Generation of Decentralized Exchange
Gnosis is a blockchain-based prediction market that will allow people to buy, sell, and trade shares in the outcomes of future events.
The marketplace can be used to trade anything from financial assets like futures contracts to political outcomes, including the US Presidential election.
There are 3 types of tokens in Gnosis:
1) The GNO token will give holders access to prediction markets. 2) Gnosis tokens are the currency used to make predictions on these markets. 3) Finally, Reputation tokens are used to rank participants on the platform according to how much they contribute.
Gnosis is a decentralized platform powered by Ethereum smart contracts. It was created to allow users around the world to make predictions about future real-world events. The end goal of Gnosis is to provide an efficient, secure, and transparent way for anyone to create their own shareable prediction market.
It varies from traditional centralized exchanges in that it does not require any form of middlemen or third parties. This means that users do not have to pay fees for transactions because it is all done on the blockchain. Gnosis also doesn’t require any personal information about their users, which offers more anonymity and security than centralized exchanges.
Gnosis is a decentralized prediction market platform. The GNO token is used for governance and voting on proposals, and also as the protocol fee when the protocol’s native tokens are used for trading or other transactions.
Where and How to Buy Gnosis (GNO)
Binance announced that it will list four trading pairs for Gnosis (GNO) on August 30th. The said pairs are GNO/BTC, GNO/BNB, GNO/USD, and GNO/USDT trading pairs.
This is the first time Binance has offered a token from an ICO project to its coin holders.
Gnosis is a prediction market platform that allows users to speculate on the outcome of various scenarios that can happen in the future. In contrast to many other platforms, Gnosis is powered by a proof-of-stake system which means that new tokens are distributed through a process called staking. Through this process, people who have deposited their funds in order to use the platform’s services will earn more tokens if they correctly
So to get started you need to open an account with binance and register today.
Buy a trading pair for GNO
So with this option you can choose GNO/BTC, GNO/BNB, and GNO/USDT trading pairs. So buying BTC, BNB, USDT, will let you trade on the binance platform for GNO Gnosis.
To do this with your fiat click buy crypto and then choose the one of the options above.
Trade it on the binance exchange
Next up we need to trade our cryptocurrency for GNO, all you need to do is click on market, and classic to get to this screen.
Then type in the pair that you bought and that you want to trade.
Its really this simple!
Then once you have clicked on the pair all you need to do next is choose the amount you need with a sliding scale percentage option. Or just type manually the amount you want to trade for GNO.
There are two types of orders now to bear in mind when you click buy.
The market order is the easiest type of order for someone who does not know much about or has much experience in investing. A market order simply buys or sells at the best available price. The limit order, on the other hand, is much more specific in that it can set a maximum or minimum price at which you are willing to buy or sell an asset.
And then done you are the proud owner of Gnosis (GNO)
Why invest in GNO
Gnosis is a decentralized, non-custodial crypto-token exchange platform.
The platform is the brainchild of Martin Köppelmann, who co-founded the project with his wife, Stefanie Koeppelmann.
Köppelmann has been an active member of the Ethereum community since 2015, and has led various projects pertaining to Gnosis at ConsenSys.
Koeppelmann has also been involved in the Ethereum ecosystem for years and was previously appointed as CEO of Bity.com (a Swiss cryptocurrency broker).
Gnosis is built on top of the Ethereum blockchain utilizing smart contracts. The platform utilizes prediction markets to generate prices for tokens through its native token GNO which is traded on their decentralized exchange.
To get your GNO register on Binance today