Polymarket is a prediction market. Here, you can create any event, including whether Kim Kardashian or Cardi B can take over from Trump in 2028. Punters will place bets, but most will likely not make money. The platform is on Polygon, a sidechain for Ethereum, and by virtue of this, users can place bets on events using multiple tokens, including USDC and USDT.
Until yesterday, Polymarket supported all other coins, including some of the best cryptos to buy now, like ETH and SOL, but curiously, not Bitcoin. Interestingly, while the native BTC on the Bitcoin mainnet wasn’t supported, wrapped versions like UBTC had been incorporated.
This era is now past news, and in a simple post on X, the prediction market announced its support for BTC. With this integration, it is now possible for punters across the world not only to deposit BTC straight from supported wallets but also to place bets on events using digital gold.
(Source: Polymarket, X)
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How does this work? Polymarket Bitcoin: A Game Changer?
Unlike Web2 platforms, where users have to register and submit full names, Polymarket is a bit different. All you have to do is “sign in,” and by doing so, the platform asks you to connect via a supported non-custodial wallet like MetaMask or Brave Browser, for example.
Once the connection is established, there is an option to deposit funds. You can deposit hard dollars straight from your card or deposit from PayPal. However, being a web3 native project, crypto is attractive.
Interestingly, USDC on Polygon pops up as the first option, but scrolling down, users can now deposit “BTC”. If you choose this option, Polymarket automatically generates the deposit address, and of course, there is a “price impact” charge, probably masked as processing fees. When writing, you had to wait at least 20 minutes before the transaction is processed and deposited.
(Source: Polymarket)
The decision to add Bitcoin, besides Solana, which hosts some of the top meme coins, is a move in the right direction. It took some time, but more should be expected as Polymarket expands its offerings and deepens its regulatory footing in the United States.
The integration of Bitcoin comes weeks after Polymarket added Chainlink oracles to supply smart contracts with reliable, tamper-proof feeds.
Yesterday, on October 7, Polymarket also announced a $2Bn investment from ICE, the owner of the NYSE, which is by far the largest exchange in the world. As part of this deal, the ICE will distribute Polymarket data to thousands of financial institutions across the globe.
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Investors Turning to Bitcoin Hyper: Over $22.6M Raised
As ICE invests billions into Polymarket and the prediction market integrates more coins, investors are turning to potent platforms whose tokens can generate millions in volumes from punters placing bets on future valuations.
Bitcoin Hyper is increasingly in focus, and thanks to its ambition to scale the Bitcoin mainnet, the project continues to dominate crypto news headlines.
Bitcoin Hyper is building a layer-2 for Bitcoin using Solana technology. To do this, it is leveraging the Solana virtual machine, enabling automatic interoperability with the scalable, modern chain.
There is also a Canonical bridge from which BTC users can transfer their tokens to layer-2 in a secure yet private manner. The bridge relies on trustless zero-knowledge proof smart contracts for seamless transfers. Its code has been audited by some of the top blockchain cybersecurity firms, including Coinsult.
Presently, the Bitcoin Hyper ICO has raised over $22.6M.
Each HYPER token is trading for $0.013085 but will increase in the next 24 hours. Those who buy HYPER now can also stake for a 51% APY.
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Polymarket Bitcoin, Bitcoin Hyper Presale Raises $22.6M
- Polymarket integrates BTC
- ICE invests $2Bn in Polymarket
- Bitcoin Hyper presale raises over $22.6M
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