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 (ERC-4337). 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. What is the difference between Funding Wallet and Trading Wallet?
Your Funding Wallet (EOA) is your connected external wallet that receives deposits. Your Trading Wallet (Smart Account) is where all trading activity happens. You can transfer USDT between them in the Wallet Panel.
#10. How do I deposit funds?
Open the Wallet Panel and select Deposit. Choose your source chain and token. The integrated bridge service delivers USDT to your Funding Wallet on BSC. Then transfer from your Funding Wallet to your Trading Wallet.
#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 vary by market but are typically 2%. The fee formula is:
Fee = Fee Rate x min(Price, 1 - Price) x Receive Amount
Fees are lowest when prices are near 0 cents or 100 cents and highest at 50 cents. There are no fees on split/merge operations and no gas fees.
#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?
The minimum withdrawal amount is $3 USDT.
#17. Are my funds safe?
Your funds are secured by smart contracts on BSC. Only you control your Trading Wallet through your connected wallet. 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