How to buy Augur

How Augur and REP work.

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Augur is designed to function as a betting platform, but in outcome it’s more of a soothsaying device – or augur if you will.

Augur is designed to use the wisdom of the crowd to consistently outperform expert predictions on everything from market movements to sports.

It costs REP to make a bet. Correct predictions reward gamblers with more than they bet, while incorrect predictions aren’t rewarded at all.

The end result is a decentralised prediction marketplace. You ask it a question, the question is put to the crowd and the wisdom of the crowd pumps out an answer that’s statistically more accurate than any expert answer.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Where to buy Augur (REP)


Quick guide: How to buy REP

  1. Register for an account with a cryptocurrency exchange like Swyftx.
  2. Verify your account.
  3. Go to the deposits section
  4. Select your preferred payment method and confirm.
  5. Go to the buy section and select the cryptocurrency you want to buy.
  6. Enter how much you want to buy, or how much you want to spend.
  7. Double check the details and confirm your purchase.
Go to Swyftx's site

This is our quick guide to just one way to buy REP. Compare some other options in the table below.

Name Product Deposit methods Fiat Currencies Cryptocurrencies
Swyftx Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card, Osko, PayID


Buy and sell a wide range of cryptocurrencies at competitive rates on this Australian exchange.
Binance Cryptocurrency Exchange
Credit card, Cryptocurrency, Debit card, Osko, PayID


Binance is the world’s largest exchange by trading volume. Get started with instant zero fee AUD deposits and withdrawals in Australia, and enjoy low trading fees, a wide selection of cryptocurrencies and 24/7 local customer support.
Independent Reserve Exchange
Cryptocurrency, SWIFT, Osko, PayID, EFT


Trade AUD and other fiat currencies against a wide range of cryptos at competitive rates.
Bittrex Global
Bank transfer, Credit card, Cryptocurrency, Debit card


Buy from one of the largest cryptocurrency exchanges with a selection of over 190+ cryptocurrencies and 3 USD pairings.
Bitfinex Professional Trading Exchange
Credit card, Cryptocurrency, Bank Wire


Cryptocurrencies are a highly volatile investment product. Your capital is at risk.
Spot trade all of the major cryptos on this full-featured exchange and margin trading platform.
CoinField Cryptocurrency Exchange
Cryptocurrency, Interac e-Transfer, Wire transfer, Credit or Debit Card, SEPA, EFT, Faster Payments (FPS)


Canadian-founded Bitcoin and cryptocurrency exchange available in 193 countries.
Bithumb Cryptocurrency Exchange


A global platform where users can make KRW and cryptocurrency deposits to purchase up to 15 popular cryptocurrencies.
Coinbase Pro
Bank transfer, Cryptocurrency, Debit card, PayPal, Wire transfer


Formerly known as GDAX, Coinbase Pro is a US-based exchange which offers fiat currency payment options, including wire transfer, ACH bank transfer and SEPA.
IDEX Cryptocurrency Exchange


A decentralised cryptocurrency exchange where you can trade over 250 ERC20 tokens.
ShapeShift Cryptocurrency Exchange
Credit card, Cryptocurrency, Debit card, Banxa


Quickly swap between more than 40 cryptocurrency assets or use your credit card to instantly buy bitcoin.

Compare up to 4 providers

How does Augur work?

The main question on your mind might be whether Augur can really outperform experts. The remarkable accuracy of aggregate predictions has been known for decades. DARPA and the CIA even started their own project in 2001 but lost funding in 2003 after being accused of wasting millions of taxpayer dollars on “terrorism betting parlours".

Fortunately, blockchain technology has now allowed for an exceptionally cost-effective, flexible and secure decentralised terrorism (and sports, politics and everything else) betting parlour in the form of Augur.

Bets are placed through the purchase of “shares” in an event and the prediction itself takes the form of a price tag for each likelihood, showing the respective odds of each outcome according to the crowd.

  • The system is designed to indirectly give more weight to more confident answers, with the effect of encouraging more research among participants and encouraging better-informed users to bet bigger.
  • The betting odds are dynamically updated in line with previous bets. This is because all shares are routed through an interface that adjusts prices based on previous share purchases. In short, riskier and less popular guesses net higher rewards.
  • The sustainability of the system is mathematically ensured by the above. It can’t be gamed or otherwise compromised, and the integrity of results and fairness of the system is provable.

How it works

Someone creates an event and specifies the outcomes on which users can bet. Users place their bets by purchasing shares in each outcome.

For example, say someone wants to predict the outcome of a Red vs Blue sports match with no chance of a draw.

The shares on sale here will be “red team wins” and “blue team wins.”

The cost of the share will depend on the previous purchases. If everyone’s buying the “red team wins” shares, then those will be considerably more expensive than the “blue team wins” shares, and consequently pay out less.

For example, if the cost of a Red share is 90 cents and the cost of a Blue share is 10 cents, then the crowd is predicting a 90% chance of Red winning. It might be a safe bet, but they’d only be getting $1.10 back for every $1 spent on shares.

Someone might also buy a share in “blue team wins” for 10 cents. If they were correct with those odds, they’d get back $1.90 for every dollar put in.

The cost of each share is dynamically adjusted based on previous shares purchased. The wisdom of the crowds doesn’t immediately whip up a guess. Instead, it vacillates on the issue eventually settling on an answer, constantly changing rewards to incentivise those with the most knowledge or subject experience to bet more, and therefore have a larger influence on the prediction.

For example, Red’s star player might get injured, so people start buying up a lot of Blue shares, and the price swings around until Blue is selling for 70 cents and Red is selling for 30 cents. This means it’s now predicting a Blue victory with 70% confidence following the injury.

The beauty of Augur is that it can be used for much more complicated bets than this. In this case, the betters sell shares for specific margins of victory, specific players scoring goals or the chances of the entire game being cancelled alongside the plain victory prediction of others.

The end result, depending on the types of events being created, is a set of rich, detailed predictions that dynamically change until they settle on a final answer at the specified end time.

Things to consider before buying Augur?

The REP token itself is an ERC20 token that functions as a license to use the platform and is the main currency of exchange on Augur. It is used for buying shares and paying the nominal fees associated with participating and creating events.

The total supply of Augur is 11 million, without any kind of mining program, and it’s a divisible token.

People may feel that Augur is most interesting as a soothsaying platform, but may find that its most commercially viable applications are as a straight-up sports betting system and a very interesting type of futures trading platform.

As a simple betting platform, you may decide that the use of blockchain technology makes Augur a reasonable alternative to sports betting sites, given that it runs in a transparently fair manner and with much lower fees than current online betting systems. The Augur system also automatically runs the numbers on sustainable betting odds, automating what used to be an arduous process.

Futures trading is also betting. If you go long, you’re betting the price will go up. If you’re shorting, you bet that the price will go down. Augur is extremely similar to these and stands to disrupt that market. For all the talk of cryptocurrency futures trading, there still aren’t too many purely blockchain-based futures trading platforms and Augur stands to disrupt those too.

Traders will need to decide whether Augur's relatively low supply of 11 million tokens as well as its ability to be used as a trading platform will help it grow. The growth of 0x, in particular, will start unlocking extra features in Augur and expand its functionality.

Also, gambling tends to be subject to serious regulations around the world, and traders will need to decide if a high-roller sports (and terrorism) betting parlour/futures trading platform will escape a government crackdown.

One concern traders need to consider is whether established industries will oppose Augur. Traders may find that Augur's potential for gambling, insider trading and accurate predictions will give lobbyists a lot of ammunition.

Traders will also need to pay attention to how long its auguries will continue being accurate. Traders will need to make sure they don't ignore the clear overlap between Augur’s crowd-sourced wisdom and the mechanisms behind machine learning.

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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