Bitcoin Trading Competition
Bitcoin has become even more popular this year. This popularity is reaching into the hearts and minds of traders and gamers. Bitcoin trading competitions are popping up in various places to put a smile on the faces of those who like cryptocurrency. There are different ways to play and to have success trading the king of coins.
A bitcoin trading competition is just like it sounds
The ups and downs of the bitcoin market produce trends that can be measured. Cryptocurrency traders use these ups and downs in the market to make their own profits. The news creates bubbles and bursts of those bubbles in the market.
When people get together to trade crypto coins to exploit this process for a set amount of time this is called a competition. The person or group of persons who make the most profit during the limited trading competition time will win a bounty. Doing this with bitcoin is an exhilarating process.
Start with a your bitcoin
The bitcoin trading competition has to start somewhere. Believe it or not, those who can not afford to buy coins are not left out. Some trading competitions will hand out virtual bitcoin to allow everyone to be able to play. This will allow even a novice user to begin to learn how to trade in cryptocurrencies. Learning about trading strategies becomes a painless event because no money will be lost.
Getting started in a bitcoin trading competition
Those who want to learn how to learn trading strategies have options. One of the first places to begin is by downloading trading software. Trading programs have been created for Android and Apple users for this very task. This is the place to deepen the understanding of what a bitcoin trading competition entails.
Another option is to become a user of a large exchange. They will sometimes create their own trading competitions to increase their user base.
Different competitions have different rules
Some competitions will run for one month. Others will do the same but add the variable of measuring deposits. The second feature is to divide up winners into two categories. The first group of winners will win by creating the highest return on investment.
The second group is determined by the highest return on investment based on the amount of money they started with. In the second group those who have traded more will rank higher and win more money. The winners will receive a predetermined prize, usually in USDT or in another cryptocurrency.
Verification is not always required to take part
Because bitcoin is similar to bearer securities, competitions can begin without the approval of third party institution permission. There is little to no barrier for entry for those who already own some bitcoin. Unlike stock markets, there are no official exchanges sanctioned by any particular country. There are hundreds of exchanges that deal with bitcoin and have their own prices, making the competition even more interesting.
Winning a competition can award a sizeable prize. The prize for winning a competition can reach up to 5000 USDT or more.