Frequently Asked Questions
#1. What is Conviction?
Conviction is a decentralized prediction market platform built on BNB Smart Chain (BSC). You can trade on the outcomes of real-world events by buying and selling outcome shares. If your prediction is correct, your shares pay out $1.00 each.
#2. What blockchain does Conviction use?
Conviction runs on BNB Smart Chain (BSC) mainnet, chain ID 56. Cross-chain deposits from Ethereum, Arbitrum, Base, Polygon, and other supported chains are handled by third-party bridges integrated into the deposit flow.
#3. Do I need to pay gas fees?
No. All gas fees are sponsored by the platform through account abstraction (EIP-7702 smart accounts). You never need to hold BNB or any other token for gas.
#4. What currency is used for trading?
USDT on BSC mainnet (0x55d3...7955) is the primary trading currency. All prices and amounts are denominated in USDT.
#5. What is the minimum order amount?
The minimum order amount is $3 USDT.
#6. How are share prices determined?
Share prices range from 1 cent to 99 cents (or 0.1 cent to 99.9 cents depending on the market's spread) and are determined by supply and demand through the orderbook. A share price of 60 cents roughly implies a 60% probability of that outcome occurring.
#7. What happens when a market resolves?
Winning outcome shares pay out $1.00 each. Losing shares become worthless ($0.00). You can redeem your winnings from your Portfolio page.
#8. Can I sell my shares before a market resolves?
Yes. You can sell your shares at any time while the market is active by placing a sell order on the orderbook. You do not need to wait for resolution to exit a position.
#9. Which wallet holds my funds and positions?
Your wallet on Conviction is a single address, created automatically when you sign in (via Dynamic). It receives deposits, places orders, and holds your positions. If you sign in with an external wallet such as MetaMask, that wallet is used only for identity verification — assets and trading live in your Conviction wallet. See User wallet for details.
#10. How do I deposit funds?
Open the Wallet Panel and select Deposit. Choose your source chain and token, then send to the deposit address shown on screen. The integrated bridge service delivers USDT on BSC straight to your wallet — no extra transfer step is needed.
#11. How long do cross-chain deposits take?
Typically 1 to 5 minutes, depending on the source chain and current network conditions.
#12. What is Split and Merge?
Split converts USDT into equal YES and NO shares (or all outcome shares in a categorical market). Merge converts equal shares of all outcomes back into USDT. These are useful for advanced trading strategies and have no fees.
#13. What are the trading fees?
Fees apply to takers only — makers pay 0%. The rate is set per market (2% by default) and declines as the fill price rises above $0.50. The fee is deducted from what you receive: outcome shares on buys, USDT on sells. There are no fees on split/merge operations and no gas fees. See Fees for the full schedule.
#14. Is Conviction available on mobile?
Yes. Conviction is a responsive web application that works on mobile browsers. Visit conviction.bet from your preferred mobile browser.
#15. What wallets are supported?
Conviction supports a wide range of wallets through Dynamic Labs:
- Email or social login (creates an embedded wallet automatically)
- MetaMask
- WalletConnect-compatible wallets
- Coinbase Wallet
- And many more
#16. What is the minimum withdrawal amount?
There is no fixed minimum — you can withdraw any amount up to your available balance. Withdrawals are sent as USDT on BSC.
#17. Are my funds safe?
Your funds are secured by smart contracts on BSC. Only you control your wallet through your sign-in method. The platform can sponsor gas for transactions but cannot access or move your funds.
#18. What types of markets are available?
Conviction offers two market types:
- Binary markets (YES / NO) — Simple two-outcome predictions
- Categorical markets (multiple outcomes) — Predictions with three or more possible results
Markets are organized into categories including Crypto, Sports, Politics, Entertainment, Science, and Finance.
#19. How do I contact support?
You can reach the Conviction team through:
- Telegram: https://t.me/conviction_bet
- Twitter/X: https://x.com/conviction_pred