Crypto Derivatives Powerhouse Phemex Launches Trading Contest With A Colossal Prize Pool Of $ 750,000 – Sponsored Bitcoin News

Some say trading is a game of chance; others see it as an adventure sport. Just as athletes love to make mind-blowing maneuvers, making the perfect trade is exciting. For those who are new to the scene Trade competitions enable beginners to learn and grow as brokers and give more experienced participants the chance to take on a new challenge.

Knowing what you’re doing, trade contests can be a fun way to make money quick, but the level of risk can be hard to justify when you don’t have to invest a lot, especially with lackluster prices and unpredictable markets. Phemex is no stranger to hosting trading competitions after successfully running Bitcoin Bonanza last month to launch their. to celebrate inverse BTCUSD contracts. This time, however, the stakes are increased.

This November, Phemex, a Singapore-based crypto derivatives powerhouse, is launching the fourth edition of its’Phemex dealer arena‘Trading competition that encourages teams to compete for a whopping $ 750,000 prize pool.

The fun & the games

In contrast to Bitcoin Bonanza, in which only the inverse BTCUSD contract volumes were counted for the competition, all Phemex contract products are counted towards the participant ratings. This means that each player records the ROI on both their USD and BTC trading accounts, with the higher value counting towards a team’s final ROI. The results for individual prices are calculated using the aggregated PnL for both USD and BTC trading accounts.

In addition, participants can make deposits into their Contract trading accounts During the registration period you will receive additional prizes with the chance to win trading bonuses of up to $ 1000 for deposits over 2 BTC (or $ 100,000). In addition, users are only allowed to participate with a single account, and players with a trading volume under $ 500 will be excluded from receiving rewards.

Registration of crews and captains will open between November 25, 2021 and December 9, 2021, and with three-quarters of a million dollars worth of BTC at stake, the stakes are huge. Teams must have at least ten members to be valid, and groups that do not meet this requirement will be randomly reassigned to other teams after they are disbanded.

Captains who manage to build a team can win up to $ 6000 depending on the number of team members. The ranking of the teams depends on the average ROI of their top 10 traders, although the players also receive rewards and ranks on an individual level with PnL.

The pot of gold

78% of the total prize pool is given for prizes for teams, while the other 22% is reserved for retailers. 25% goes to the first-placed team, 15% goes to the second team and 8% to the third-placed team. The last 30% is evenly distributed among the remaining seven of the top 10 teams.

Captains receive a 40% share of their team’s profits, and 30% is distributed among the top 10 dealers on the team, while all other team members share the remaining 30%. However, for teams of fewer than 20 members, the captains will still receive 40% of the price, with the remaining 60% evenly distributed among the rest of the team.

Of the 22% of the individual awards, 8% go to the first place, 5% to the second place and 2% to the third place. The last 7% will be divided equally among the remaining members.

Phemex also runs a series of Twitter campaigns to get the news out and invites all registered attendees to follow their page @Phemex_official. Randomly selected followers can receive rewards, including limited edition and themed merch, for the duration of the contest.

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Crypto Derivatives Powerhouse Phemex Launches Trading Contest With A Colossal Prize Pool Of $ 750,000 - Sponsored Bitcoin News

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