Bybit derivatives exchange has announced the official launch of its trading competition via Twitter. The event runs until May 6, 2019.
The trading completion will allow users to compete against themselves and stand a chance to win $6,000 in prize money.
Participants will demonstrate their trading skills and the top 5 traders will qualify for a prize pool worth more than $6K. The 1st place prize is 3000 USD.
The winners will be chosen by calculating the total “Realize Profit and Loss” of every participant. In essence, there is a level playing field for all participants, regardless of factors like trading volume.
How it Works
To take part in the competition, users are required to follow Bybit on Twitter, retweet the competition announcement and have a minimum of 0.02BTC in a Bybit account. After this, interested participants will fill the registration form.
The exchange will send a direct message to all participants on Twitter to confirm their registration and give them a $20 competition bonus.
Registration is ongoing, and it runs until April 15, 2019, while the competition will run from April 15 to May 6, 2019.
Also, participants who retweet the competition poster from April 8, to May 6, will automatically enter a weekly raffle draw to win a Ledger Nano S hardware wallet.
Interestingly, Bybit has made it clear that all new traders on the platform are entitled to a welcome bonus of $10 and an additional $50 trading bonus when they deposit at least 0.2 BTC into their trading accounts.
The trading bonus will be transferred directly to users’ wallets, and it must be used to trade on the Bybit platform.
Traders can not withdraw the bonus, but it can be used to pay trading fees, order margin, funding fees and to cover potential losses. However, profits made from the bonus can be withdrawn by the trader, but once that is done, the remaining bonus will be forfeited.
Bybit In Brief
Founded in 2018, Bybit is a global crypto derivatives exchange registered in the BVI. Bybit is headquartered in Singapore, with offices in Hong Kong and Taiwan.
Bybit offers crypto trading services to both retail and institutional investors alike. The exchange’s technology team is made up of experts from firms like Morgan Stanley, Tencent, and more.
The Bybit matching engine processes more than 100,000 TPS, dedicated to all trading pairs and the servers are never offline.
All funds on the Bybit exchange are stored in cold wallets, making it inaccessible to bad actors. Bybit currently offers users a vast array of products including BTC/USD and ETH/USD perpetual contracts and Bybit will launch EOS/USD, XRP/USD and LTC/USD perpetual contracts shortly.
For more visit https://www.bybit.com/?regist_channel=PR2