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There are many types of virtual currencies in the world, but one that is currently attracting attention is the virtual currency Augur (REP)!

Compared to Bitcoin (BTC), the virtual currency Augur is a new currency. Many people may not know what kind of currency it is.

If you read this article, you will understand all about Augur, so let's learn together!

The virtual currency Augur is an open platform created for the future prediction market. To put it simply, it provides a service to bet on what will happen in the future.

In fact, this Augur is translated into Japanese as "fortune teller", and the currency unit REP is an abbreviation of Reputation and has the meaning of reputation.

Roughly speaking, it makes it possible to make fair bets by using various mechanisms unique to virtual currencies.

For example, in current gambling, the middleman is basically always profitable, and fair betting is not done. As is often the case in movies, people like the master who is in charge of gambling are exploiting the middleman's fees or working with the gambling participants to commit fraud, right?

This project aims to overturn this gambling system and ensure that participants and the bookmaker (the person in charge of the betting/organizer) can make fair bets.

Note that Augur cannot be purchased at domestic exchanges.

It can be purchased at overseas exchanges such as Binance.

You will need to open an account with a domestic exchange to use for transferring funds to overseas exchanges.

Of the domestic exchanges, Coincheck is recommended due to its easy-to-use app and large number of users.