Gnosis is an Ethereum-based platform where users can bet on all kinds of events and happenings in the world. Thanks to Gnosis people can bet on such events in a fully decentralized. On this page, you can read what Gnosis is and you get some tips for when you decide to buy or sell Gnosis.
Gnosis is a platform built on top of the Ethereum blockchain. It is, therefore, a so-called decentralized application, or dApp. It offers a number of products, but Gnosis' flagship is its prediction market.
The possibility that an event will end in a certain way is calculated based on the expectations of the participants. Here is an example of how a prediction market works.
Suppose someone asks the question "Where will Unilever establish its new headquarters?" and gives Rotterdam, London, Amsterdam and Other as possible outcomes, the users of Gnosis can bet their tokens on the option they expect to see happening. As time passes and more information becomes available users may bet their other tokens on other positions. The most likely option becomes more valuable and the other options lose value. This way, one can generate more value with their Gnosis.
Buy Gnosis (GNO) safely and easily via Knaken+
Gnosis, or GNO for short, is an ERC-20 token. The cryptocurrency can be purchased from most major cryptocurrency exchanges. You can buy gnosis from Kraken, Binance, and Knaken.
GNO can also be purchased through over-the-counter (OTC) platforms. These are companies, often local, that offer Gnosis for sale. The advantage of these platforms is that customer service often speaks your language because they are local. These platforms also offer more privacy compared to major exchanges. However, buying Gnosis can be the cheapest when you buy it through an exchange.
Sell gnosis (GNO) safely and easily via Knaken+
Selling gnosis, or GNO, is very easy. This can be done through an exchange as mentioned above. On those exchanges, you can sell the GNO within just a few mouse clicks. You can also decide to sell your Gnosis via other ways, such as through the aforementioned OTC platforms.C through a platform mentioned in the paragraph above, you can often sell this ETC there as well. The same applies if you received the ETC in any other way.
Knaken helps you buy or sell Gnosis safely and easily. It doesn't matter if you are a beginner or a veteran. These three simple steps apply to everyone.
• Select your cryptocurrency
• Pay via payment methods such as IDEAL.
• Receive and manage your crypto in your Knaken dashboard or your own wallet.
Why do people buy or sell Gnosis?+
Gnosis is a decentralized prediction platform which is a large market. It is, therefore, possible that the platform will see more and more users with the result that the GNO price can rise. This means Gnosis can be bought as a long term investment.
You can also decide to actively trade with Gnosis. This means that you buy the cryptocurrency when the price is low and sell it again when the price has gone up. This requires, among other things, proper technical analysis. Active trading involves a lot of risks because the Gnosis price, like most other cryptocurrency prices, is very volatile.
In addition, you may want to buy Gnosis to participate in the bets on the platform. As soon as you have Gnosis in your wallet you can participate!
Why choose Knaken?+
• Safe & Easy
• No extra costs
• Manage crypto via your Knaken Dashboard or your wallet
• Knaken has its own exchange
Important tips when buying/selling Gnosis+
One of the most important things to getbefore buying Gnosis is a cryptocurrency wallet. This is a piece of software, online or hardware with which you can save your GNO. An online wallet is considered to be the least secure since you always need to be connected to the internet to access your Gnosis.
It is best to at least ensure that you have your own private key, the key with which you can send and sell your GNO. A hardware wallet, a kind of USB stick, is the safest option since you can put your Gnosis on it and then place the wallet in a physical safe for extra security, for example.
When you have selected a good wallet, properly investigate the companies that sell Gnosis. Search for reviews from other customers such as on Trustpilot, and see if there are any responses on the internet from users who have used a company's services. If a website looks suspicious and cheap, be extra careful.
It is advisable to put only money in Gnosis that you can really miss. The Gnosis price can be quite volatile. It is therefore possible that your Gnosis loses a lot of its value in a short period of time.