Price prediction is one of the most important tools in the financial sector. It helps investors analyse a product or service based on its characteristics, demand, and current market trends. One initiative that seeks to disrupt how price prediction is carried out is Prosper (PROS).
Prosper is a blockchain-prediction market that enables individuals to predict outcomes of events and earn rewards. This beginner’s guide details how to buy Prosper in minutes and why it is a worthy investment option.
Where to Buy Prosper PROS
This section is our top picks of where and how to buy the Prosper PROS Crypto token. We chose these based on our experience of using them and considered fees, security, payment options and reputation.
Binance: Largest Crypto Exchange with Low FeesGate: Solid Platform With Lots of Coins
Binance: Reputable Exchange with High Liquidity
Binance is the largest cryptocurrency trading exchange in daily trade volumes. The exchange offers investors full access to trade over 600 crypto assets.
The renowned platform also features a well-detailed learning curve and advanced trading tools that support well-experienced traders and investors looking to learn how to buy different cryptos. Although Binance features a user-friendly interface that facilitates a great user experience, it is more suited for well-experienced traders.
Read: Our Full Binance Review Here
Binance has a minimum deposit of $10. This enables investors to kickstart their investing journey with low fees. Investors can also initiate deposits through seamless payment methods like wire transfers, credit/debit cards, peer-to-peer (P2P) payments, and other e-wallet solutions.
Binance deposits come with a fee that varies based on the payment method used. For instance, the global exchange charges a standard fee of up to 4.50% for all deposits made with a debit/credit card.
All investors enjoy very low fees when trading on Binance, as it charges a standard trading fee of 0.1%. For investors that buy using Binance token (BNB), a discount of 25% on trading fees will be applied.
In addition, investors can rest assured that their funds and data are well protected whenever they trade on Binance. The broker features top-notch security measures like two-factor authentication (2FA), cold storage to keep most coins, whitelisting, and advanced data encryption to protect funds and data. Binance functions effectively in over 100 countries and has a spin-off regulated platform (Binance.US) that tends to US-based traders and investors.
Trading fees at 0.01%High liquidityWide range of payment methods600+ crypto assets in library
Interface is suited for advanced tradersUS-based customers cannot trade most coins via its subsidiary
Gate.io: Solid Platform With Lots of Coins
Gate.io is a cryptocurrency trading site that aims to offer its members an alternative to the exchanges currently dominating the market.
The site has been in operation since 2017 and aims to capture a portion of the cryptocurrency trading market by offering its users hassle free access to a number of hard to find coins and up and coming projects.
The site is also designed to help investors find specific information related to both their preferred coins and overall market trends.
Read: Our Full Gate.io Review Here
Trading mostly takes place on a web-based trading platform that is similar to most cryptocurrency exchanges. The site incorporates a number of functional features such as an order book, trading history, and charting.
A wide range of currenciesA low fee structureSimple registration processFunctional platform with a mobile app available
UnregulatedThe team is not very transparentNo fiat currency transfers
What Is Prosper (PROS)?
Prosper (PROS) is a non-custodial prediction and hedging market platform. The platform is decentralised and operates as a cross-chain prediction market that allows users to predict the values of various outcomes of events. Prosper proffers solutions to the lack of liquidity in the decentralised finance (DeFi) ecosystem through the integration of unique binary models of liquidity provisions.
This innovative platform uses Chainlink to avert market manipulation and ensure transparency and security for all users’ data and funds. Chainlink is a decentralised oracle network that provides off-chain resources to the blockchain to create a hybrid smart contract. This helps to determine the final price value of a set prediction market.
Furthermore, Prosper runs on the Binance Smart Chain (BSC) mainnet. Due to its decentralisation, the platform operates as a non-custodial market with no control over user’s wallets or predictions.
The Prosper project consists of the following products:
Prosper consists of pools that feature single prediction markets. Each pool has two sides, that is, the bulls and bears. Users will be allowed to create their custom prediction pools; however, they will need to hold PROS tokens.
Prosper generates liquidity from liquidity providers (LPs) to fill its smart contract pools. For every pool that bets are not proportionally matched, LPs automatically provide funds in exchange for platform fees (in PROS tokens).
The PROS Crypto
PROS is a utility token of the Prosper platform. The token is deployed on the ERC-20 standard of the Ethereum blockchain, with a market cap of $19.9 million. The PROS token powers all transactions and interactions in the platform’s ecosystem and is also used for governance, creating custom prediction pools, commission rate discounts, prediction insurance, and many more.
The Prosper project has partnered with the world’s brightest companies to deliver robust user experience, mutual success, and stronger solutions for all customers. These companies include Microsoft, SAP, Adobe, IBM, CGI, Deloitte, and many more. As a result of being acquired by Animoca Brands, as well as its rich partnerships, crypto enthusiasts believe PROS will grow exponentially and is capable of scaling past its all-time high of $9.39
What Can You Do With PROS?
Users can use PROS to create custom pools and set their own conditions, including a custom treasury rate.
As earlier stated, PROS can be used for governance. This means that holders of this token can participate in activities in the ecosystem, including decisions on the platform via decentralised autonomous organisation (DAO) structures. Even better, they can vote on new updates, features, projects, roadmaps, and many more.
Staking is rightfully gaining momentum in the crypto market. PROS token holders can generate interest (passive income) by staking. Exchanges like Binance allow you to stake your PROS token and enjoy yield rewards (paid back in $PROS)
How Does Prosper Work?
Prosper is a decentralised platform based on the Binance Smart Chain network. This platform works on the logic of smart contracts and features a pool system which runs as an operational model. This model enables Prosper to generate 168 prediction pools daily on the BSC network, allowing users to place predictions for BNB and ETH on the pools. Users must place a custom value on each pool to predict the correct outcome, asset value, or event.
Adding to its unique functionality, Prosper platform utilises a special liquidity provision to provide standard availability of assets in the pool by using prediction markets to validate the results of each prediction.
Prosper does not limit users to predictions only. According to its website, users who own PROS tokens can build pools embedded with their own customised conditions. Prosper uses PROS tokens to create pools which stand as insurance against predictions and set rewards. Ready to place your first prediction on Prosper and win great rewards?
Users will need to connect to the decentralised application with their Metamask wallet using the Binance Smart Chain mainnet. Next, select the currency you want to place a prediction on, for example- BNB/AXS. Select ‘Bull’ or ‘Bear’ against the trading pair you’ve chosen to make a prediction about, once done, confirm your position. Once the prediction pool is closed, users are eligible to claim their rewards if their prediction is right.
Is PROS Crypto A Good Investment?
PROS is an underrated token deployed on the Ethereum blockchain, though it is still relatively new. This token has great use cases and the potential to drive it to the very top. Here are key reasons that make this crypto asset a worthy investment option:
PROS is a ERC-20 Token
Prosper (PROS) is based on the Ethereum (ETH) blockchain. Ethereum is arguably the biggest and most utilised blockchain right now, home to hundreds of projects. As Ethereum continues to incorporate new features as well as increased growth, it will continue to rub off on Prosper’s project. This will gradually scale the price value of PROS to the peak, creating gains for its holders.
Animoca Brands Acquisition
In 2021, Animoca Brands released a press release affirming the acquisition of the Prosper platform and its native crypto, PROS. This acquisition enables the Prosper ecosystem to leverage Animoca Brands’ industry expertise and connections that are not available to other markets. Considering that Animoca Brands’ past investments are faring (SandBox and REVV), it is certain that the Prosper project will experience exponential growth.
PROS Is Relatively Cheap
In the traditional investment sense, investing in cheap crypto assets and generating massive gains when it grows tends to be the best strategy. PROS is one of the hottest cryptocurrencies today, with very strong potential. Its $1 token value makes it appealing for investment.
Prosper’s vision of leading the pricing, sales effectiveness, as well as revenue management markets for industries and companies globally have drawn collaborations from popular companies. The current significant partners include Microsoft, IFMA, Ava Labs, Union, Clover, MDM, NewBound, OpenJaw, and many others. Prosper project has also teamed up with VTEX to provide a better and more seamless digital commerce platform for users.
Crypto staking makes every crypto asset appealing for investment. This is a process where a holder of a crypto asset ‘locks up’ a portion of their asset for a fixed time to support the platform blockchain network. Another feature that makes PROS attractive for investment is staking. Holders can participate in staking in Prosper decentralised autonomous organisation (DAO) to participate in its governance system and get more PROS tokens as rewards.
How To Buy Prosper On Binance
Prosper (PROS) is playing a big role in the investment industry and has seen a level of success. Investors should know how to buy Prosper; this guide will help potential buyers achieve this easily. Our top exchange to buy Prosper is Binance, the overall best trading platform.
Binance offers users high liquidity, low fees, a wide range of deposits and withdrawal channels, and top security. To get started, follow these detailed steps:
Step 1. Create a Binance Account
Navigate to the Binance platform’s website and register. Click on ‘Create a Personal Account’ to register an individualised account.
Users will have to submit a valid email address and enter a strong password to ensure account safety. This password must be a combination of numbers and letters. It should contain at least 8 characters, one UPPER CASE letter, and one number. To verify a phone line and an email address, users will also need to input a valid cellphone number after clicking the ‘Next’ button to move to the next screen page.
Step 2. Verify Account
Binance, just like all regulated exchanges, requires every user to provide KYC (Know-Your-Customer) information and complete certain verification processes, such as providing government-issued identity cards, a photograph, and other contact information to access the platform’s full features.
Step 3. Deposit Funds
The next step is to deposit funds in the Binance account. These funds is the capital that users use to purchase PROS or any other crypto asset on the crypto exchange. Binance supports a wide range of payment options, including bank transfers, credit/debit cards, peer-to-peer (P2P), and payment processors like PayPal.
Click on the ‘Deposit’ icon, type in the amount to invest, choose a payment option, and click on ‘Deposit’ to fund the newly created account.
Step 4. Buy PROS
After depositing, proceed to the search bar menu, search for ‘PROS’, and select the relevant option. Investors can then place a buy order, so Binance knows they wish to buy PROS. The PROS tokens will be added to their wallets once the transaction has been processed and completed.
Prosper (PROS) Wallets
Hot wallets, also called software wallets, are one of the most popular cryptocurrency storage options. They are always online, hence the affiliation with the ‘hot’ tag. Investors can easily get a hot wallet once they open an account with a crypto exchange. This allows them to store and manage their private keys, which prove their ownership of their assets to the blockchain network. Hot wallets are usually more convenient for everyday crypto transactions and can be custodial or non-custodial.
A custody wallet is responsible for storing assets to an exchange or a third-party platform. The user only places an order for a transfer or receipt, and the exchange signs off on the transaction, much like the traditional banking system. Meanwhile, a non-custodial or self-custody wallet gives the full responsibility to the end-user.
Hot wallets are usually free, but they are largely considered less secure due to their constant internet connectivity. An instance of a hot wallet is the Binance Wallet.
A Hardware wallet is a device which has been created to provide an extra layer of security when interacting with your various cryptocurrency wallets.
Normally you would use your private key to move funds, the problem is though, if your computer has been compromised with malware or a virus, it is possible for your private keys to be captured and used to steal your funds.
With a hardware wallet, the private keys are stored on the device and never exposed to your computer, which means even if you are infected with such a program your private keys will remain safe. These options are safest way to store your crypto if you have more than a small amount.
Popular examples of cold storage offerings are the Ledger and Trezor line of hardware wallet solutions, read our reviews:
A mobile wallet is essentially a hot wallet on a smartphone device. They offer users an even more convenient way to use their coins for daily activities. Mobile wallets store and manage users’ private keys while enabling them to pay for things they love with their digital assets.
These wallets are usually free and always online for transactions to be processed. Popular mobile wallets are eToro Money Wallet and Coinbase Wallet.
A desktop wallet is a PC version of a hot wallet. It is essentially software that an investor downloads into their personal computer or laptop for easy interaction with their digital coins. They also offer a browser extension which allows users to interact using an extension instead of downloading the entire software. Desktop wallets are also hack-prone due to their online nature. A popular example is the Exodus Wallet.
The paper wallet is arguably the oldest form of crypto wallet. They are no longer common in the modern crypto industry. It contains users’ public and private keys. The paper wallet is the least secure type of wallet as it can easily be lost, stolen, or torched.
Prosper PROS FAQs
What is Prosper coin?
Prosper token (PROS) is the native currency that powers the Prosper platform. Holders can make use of this token to be eligible for governance, create custom pools, and stake.
Where to buy Prosper token?
Learning how to buy Prosper token also entails knowing the best place to buy the token. We recommend Binance because of its reputation, wide range of crypto offerings, trading features, and security.
Where can I buy Prosper crypto?
Investors can buy Prosper (PROS) on crypto exchanges that list and support the token for trading. Although hundreds of exchanges exist, we recommend Binance because of its low fees, high liquidity, and top security. Investors new to trading can learn how to buy Prosper via Binance e-learning blog.