Wagerr is an inner crypto coin that can’t be easily used on other exchanges as a means of trading. However, it doesn’t mean that it can’t be used as a valuable source of investment for your trading. The nature of this crypto token enables it to bring passive income to its holders. Accumulating it and turning it into the more liquid currency is the process where Wagerr truly shines.
One of the most liquid cryptocurrencies on market is, of course, Bitcoin. Fortunately, Wagerr (WGR, for short) is easier converted into BTC than into ETH or USD. It’s one of the main ways to make use out of WGR – using it as the raw material for Bitcoin. Here’s how it works:
In order to obtain WGR, you have to trade your BTC for it on one of the officially supported exchanges (Beaxy, fortunately, supports this currency). When you’ve acquired some amount of Wagerr coins, you may put them to use. You may just hold onto them until they grow in value, but most people utilize them for their direct purpose – betting.
Wagerr is a betting website, and all the betting is done with the WGR coins. You can’t use dollars or Bitcoin to place bets, the only accepted currency is Wagerr. Fortunately, these Wagger coins are very useful for accumulating value. A lot of mechanisms (namely Value Coupling) are meant to increase the value of existing coins by destroying some portion of fees you’re paying the house.
Additionally, you can receive bonus coins by being an Oracle agent. It means participating in data collecting – for it you’re rewarded with some share of fees.
Finally, after you’ve somehow multiplied your WGR savings, you can just as easily trade them for BTC on the very same platform where you obtained your initial investments in the first place. There aren’t too many exchanges that support WGR, and Beaxy is the safest and most convenient of them all.
When you’re done exchanging, you can convert BTC back to WGR on Beaxy. For it, you’ll have to follow a few simple steps:
1. Register your account on Beaxy. Click here to jump right into the registration process;
2. Verify your new account. Click on the KYC tab and then submit your ID in order to start trading on Beaxy;
3. Transfer your initial funds here to start converting. You’ll probably need to buy a few Wagerr coins first. It’s simple – just pick the trading pair you like the most,
4. After you transfer funds, return your Wagerr to Beaxy and convert them to Bitcoin (or any other available currency).
Convert Wagerr to other currencies
Bitcoin is easily the best pair currency for WGR. But if you have to trade in other currencies (like ETH), you can do it. Such an exchange isn’t prohibited. Beaxy can help you with most such currencies, but if there’s no pair featuring your favorite currency, you can use Ethereum as an intermediary.
Bitcoin may be great, but using ETH as an intermediary is a great idea, because:
1. It’s much closer to WGR in value than BTC;
2. It’s much easier to count the conversion rates since the value of Ethereum can at least be remembered;
3. ETH is also a very liquid currency. Maybe not as esteemed as BTC, but it’s close by
Bitcoin is the most popular trading currency when dealing with WGR. You can also trade Wagerr for USD and ETH on the free market. Both Ethereum and other currencies are available on Beaxy. But even so, Wagerr is not very convertible.
You can get both USD and ETH at the same place where you trade for Bitcoin – on one of the exchanges that support WGR coins. The most prominent, of course, is Beaxy. But even here WGR can mostly be used simply for conversion. The actual profit-making is done elsewhere.
You can’t convert WGR to any currency on any official WGR piece of software. The betting system of WGR uses these coins as betting resource, and the winnings are also represented by Wagerr coins. There are no instruments to convert these coins into dollars, as you might be misled.
The most popular betting tool – Wagerr Wallet – actually represents the value of your current wealth in dollars. Nevertheless, the actual funds you hold are all in WGR currency, both in the wallet and after you’ve sent them somewhere. Dollar representation is actually a great feature because you can sustain longer exchange sequences in your head, given you use the currencies with close value.
Exactly what is Wagerr is a subject for argument. It isn’t like other cryptocurrencies, nor is it very similar to classic crypto tokens. Currencies are usually minable and liquid resourced, while tokens are used as inner currencies for a variety of projects and platforms. However, in such cases, they are usually distributed as an incentive. In the case of Wagerr, you can only get a free bonus if you’re a member of the Oracle program.
Oracle is a program meant to collect betting data from successful bets. The blockchain where this data is eventually stored uses it to provide calculations of what factors contribute most to the positive outcomes of bets. In short, it helps to predict the outcome of bets.
The data collecting itself is conducted by volunteers amongst users. For their services, they receive bonus coins from the fees that the house collects from won bets. This is the only instance of free incentives in WGR coins. Between the two types of crypto resources, WGR is more like a token, however.
Why the distinction? What’s the difference? These are fine questions. You see, in terms of features, the tokens and the cryptocurrencies aren’t too different. Both types are used for trading, and they obey the same rules on the market. Because of this, people fail to realize why tokens may be inferior to usual coins.
The tokens are very inclusive, they are barely liquid. Your token savings, whatever they are, are most useful on the platform of their birth. They can be used as an investment or as a currency (as in the case with Wagerr), but you can’t use them to trade freely on the larger market.
The only few exchanges that support Wagerr are only visited by the users of this betting platform to convert their WGR funds into the more liquid type of money. This liquid currency may then be used to purchase for WGR or find some other purpose.
Because of all this, turning your WGR hoard into Bitcoin is a very effective move. Bitcoin is an astoundingly liquid (which is to say, buyable) currency. It can be traded for more WGR or used in other ways if you changed your mind.
The most popular strategy is to take your pure betting profit and convert it into Bitcoin. From here, you can either use these for trade or just store them. After all, it’s much better to store your money in the shape of the BTC, rather than WGR.
WGR is usually stored in the Wagerr Wallet. After the Bitcoin profit is deducted, the users are left with the same amount of investments as they initially had. These are utilized in betting – the primary source of profit on this platform.
This was pretty much everything there is to know about this currency/token. One can only add that this platform is, in fact, very transparent because the house mostly takes their income from the winnings fees (usually 6% of the winnings). Because of it, your savings here are always secure (when stored, at any rate).