Frequently Asked Questions

General Questions

What is BeeNBet?

BeeNBet is a secure crypto betting platform that allows users to bet on crypto-related events and outcomes. Unlike traditional betting, all operations are secured by blockchain technology, ensuring transparency and fairness.

How is BeeNBet different from traditional betting?

• Crypto-Based: Uses cryptocurrency for all transactions
• Transparent: All results are verifiable on blockchain
• Fair: Provably fair algorithms ensure equal treatment
• Global: Accessible from anywhere with an internet connection
• Secure: Your crypto funds stay in your wallet, not on the platform

Is BeeNBet legal?

BeeNBet operates as a crypto betting platform. The legality depends on your local jurisdiction. Please consult with a legal professional to understand the regulations in your area.

Do I need to create an account?

No, you don't need to create an account. Simply connect your crypto wallet to start betting. Your wallet serves as your identity on the platform.

Getting Started

How do I connect my wallet?

1. Visit https://beebbet.io/
2. Click "Connect Wallet"
3. Select your crypto wallet (MetaMask, Trust Wallet, etc.)
4. Approve the connection in your wallet
5. You're ready to start crypto betting!

What wallets are supported?

BeeNBet supports most popular crypto wallets:

• MetaMask
• Trust Wallet
• Coinbase Wallet
• WalletConnect compatible wallets

Do I need crypto to use BeeNBet?

Yes, you need crypto for:

• Gas Fees: Transaction fees for blockchain operations
• Trading: Use BNB to buy shares in prediction markets
• Payouts: Receive winnings in BNB

How much BNB do I need to start?

• Gas Fees: 0.01-0.1 BNB for transaction fees
• Trading Funds: Amount you want to trade with
• Recommended: Start with 0.1-1 BNB to learn the platform

Trading Questions

How do I place a bet?

1. Browse available prediction markets
2. Choose a market you understand
3. Research the event and its likelihood
4. Decide whether to buy Yes or No shares
5. Enter the amount you want to bet
6. Confirm the transaction in your wallet

Can I sell my shares before resolution?

No, all positions are locked until market resolution. This prevents manipulation and ensures fair play for all participants.

What happens if I win?

If you win, you receive your payout automatically when the market resolves. The smart contract distributes funds to all winners immediately.

What happens if I lose?

If you lose, you lose your initial investment. There are no partial payouts - it's all or nothing.

Can I bet on both Yes and No?

Yes, you can bet on both sides of a market, but this is generally not profitable since you'll lose money on one side and win on the other.

Market Questions

Who creates the markets?

Only the BeeNBet core team can create markets. This ensures quality control and prevents spam or low-quality markets.

How are markets resolved?

Markets are resolved automatically using trusted data sources:

• Chainlink oracles for price data
• Official APIs for sports scores
• Public data for verifiable information
• Team verification for complex events

What types of events can I bet on?

• Crypto: Price predictions, market cap flips, protocol launches
• Sports: Game outcomes, tournament winners, player performance
• Global Events: Elections, policy changes, economic indicators
• Technology: Product launches, adoption metrics, technical milestones

How long do markets stay open?

Market duration varies by event:

• Short-term: Hours to days (sports games, price movements)
• Medium-term: Weeks to months (elections, product launches)
• Long-term: Months to years (major economic events, technology adoption)

Technical Questions

What blockchain does BeeNBet use?

BeeNBet is built on BNB Chain (Binance Smart Chain), which provides:

• High throughput and low fees
• Fast transaction confirmation
• Secure and reliable infrastructure
• Global accessibility

Are my funds safe?

Yes, your funds are safe because:

• No Custody: Your funds stay in your wallet
• Smart Contracts: All operations are executed by immutable code
• Transparent: All code is publicly verifiable
• Decentralized: No single point of failure

What if the smart contract has a bug?

BeeNBet smart contracts are:

• Audited: Reviewed by security experts
• Battle-tested: Used by thousands of users
• Transparent: All code is publicly available
• Upgradable: Can be updated if needed

Can I use BeeNBet on mobile?

Yes, BeeNBet is fully responsive and works on all devices. You can also use mobile wallets like Trust Wallet or MetaMask mobile.

Payout Questions

When do I receive my winnings?

You receive your winnings automatically when the market resolves. There's no manual withdrawal process - payouts are sent directly to your wallet.

How are payouts calculated?

Payouts are calculated based on the total market pool divided by the number of winning shares. Each winning share is worth 1 BNB.

Are there any fees for payouts?

No, there are no fees for receiving payouts. You only pay gas fees for placing bets.

What if I don't receive my payout?

If you don't receive your payout:

1. Check if the market has actually resolved
2. Verify you had winning shares
3. Check your wallet connection
4. Contact support if needed

Security Questions

Is my personal information safe?

Yes, BeeNBet doesn't collect personal information. You only need to connect your wallet to start trading.

Can my account be hacked?

Your account is your wallet, so security depends on your wallet security:

• Use strong passwords and 2FA
• Never share your private keys
• Consider using hardware wallets
• Keep your wallet software updated

What if I lose my wallet?

If you lose your wallet, you lose access to your funds. This is why it's important to:

• Backup your seed phrase securely
• Use hardware wallets for large amounts
• Never share your private keys

Can the platform be shut down?

BeeNBet is decentralized and cannot be shut down by any single authority. The smart contracts will continue to operate even if the website goes offline.

Support Questions

How can I get help?

You can get help through:

• Support Email: support@beebbet.io
• Discord: Join our community Discord
• Documentation: Check our comprehensive guides
• FAQ: Common questions and answers

How do I report a bug?

To report a bug:

1. Email support@beebbet.io with details
2. Include steps to reproduce the issue
3. Provide screenshots if possible
4. Include your wallet address and transaction details

Can I suggest new features?

Yes! We welcome feature suggestions:

• Email support@beebbet.io
• Post in our Discord community
• Submit through our feedback system
• Follow us on social media for updates

How do I stay updated?

Stay updated by:

• Following us on Twitter: https://x.com/beebbet
• Joining our Discord community
• Checking our website for announcements
• Reading our documentation updates

Still Have Questions?

If you have questions not covered in this FAQ:

• Email Support: support@beebbet.io
• Join Discord: Connect with our community
• Read Documentation: Check our comprehensive guides
• Follow Updates: Stay informed about new features

We're here to help you succeed on BeeNBet!