Trading tournaments are unique crypto trading campaigns organized by cryptocurrency exchanges, encouraging users to trade more to win incentives, such as tokens, hardware wallets and more/
Trading tournaments are one of the most popular ways to make a profit from your crypto holdings. These are exclusive crypto trading events organized by spot and derivative crypto exchanges, offering traders a unique way to test their knowledge of the cryptocurrency market and rewarding them for their skills.
Since the crypto industry is fiercely competitive with new platforms and innovations launched regularly, trading platforms organize trading tournaments to attract new users and motivate them to trade.
These competitions come with specific requirements and different formats, each designed to fine-tune the user’s skills and contribute to new trading techniques and tactics. In general, trading tournaments involve speculating on selected cryptocurrency price movements and buying and selling the underlying coins via an authorized exchange or a CFD (contract for difference) trading account.
Although the rules and rewards may vary, crypto trading tournaments usually reward traders with the highest trading volume of a specific coin/token for the tournament duration.
Some of the frequently used terminologies used in trading tournaments include:
Ben Zhou, the co-founder and CEO of global cryptocurrency derivatives exchange Bybit, has had eight years of forex experience with forex brokers XM as the General Manager for the Greater China region.
Back in 2016, Ben started taking a keen interest in crypto. By 2017, he had launched a YouTube channel to educate users about the benefits of investing in cryptocurrency. Combining the best aspects of traditional finance and crypto, Ben founded Bybit in 2018, which is now among the top three derivatives exchanges in the world.
Connect with Ben directly on Twitter.