Good for you! I’d love to hear more about the crypto betting markets.
I enjoyed betting on Predictit and believe I can out bet the average observer for personal gain. However, the fees push it into negative expected utility for me. What are the effective fees on FTX? Is it difficult to bet from the US?
FTX fees are .07% per trade if you take liquidity or 0 if you add liquidity. I paid somewhere under 1% to get the money from IBKR into my bank then into Coinbase then into FTX.
Betting on FTX is not allowed for US residents. I’m a US person but not a US resident, which gives me more options for prediction markets than most people. I heard some US residents were betting on Catnip. While FTX is a web site that lets people trade cryptocurrency balances held by FTX, Catnip is a decentralized market, so in some sense it’s more of a “real” crypto betting market than FTX.
Suppose that a person in the US bought etherium then logged into a VPN and traded on FTX. Is there a realistic possibility of that person being caught, and if so what is the pathway?
Also why is Trump still trading at 10% on catnip? With fees of 1%, that’s free money.
To withdraw more than 1000 USD ever from FTX, a person must do level 1 KYC, which involves proving their country of residence. So a person would have trouble if they were only willing to lie using their IP address.
Trump is trading at 10% in a bunch of places! No clue, maybe people expect SCOTUS to participate in a coup or maybe they sincerely believe there is massive election fraud.
Good for you! I’d love to hear more about the crypto betting markets.
I enjoyed betting on Predictit and believe I can out bet the average observer for personal gain. However, the fees push it into negative expected utility for me. What are the effective fees on FTX? Is it difficult to bet from the US?
FTX fees are .07% per trade if you take liquidity or 0 if you add liquidity. I paid somewhere under 1% to get the money from IBKR into my bank then into Coinbase then into FTX.
Betting on FTX is not allowed for US residents. I’m a US person but not a US resident, which gives me more options for prediction markets than most people. I heard some US residents were betting on Catnip. While FTX is a web site that lets people trade cryptocurrency balances held by FTX, Catnip is a decentralized market, so in some sense it’s more of a “real” crypto betting market than FTX.
Wow those are very reasonable fees!
Suppose that a person in the US bought etherium then logged into a VPN and traded on FTX. Is there a realistic possibility of that person being caught, and if so what is the pathway?
Also why is Trump still trading at 10% on catnip? With fees of 1%, that’s free money.
To withdraw more than 1000 USD ever from FTX, a person must do level 1 KYC, which involves proving their country of residence. So a person would have trouble if they were only willing to lie using their IP address.
Trump is trading at 10% in a bunch of places! No clue, maybe people expect SCOTUS to participate in a coup or maybe they sincerely believe there is massive election fraud.