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.
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 member 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. The second group will have deposited more and will win more money. The winners will receive a predetermined prize, usually in US dollars or in another cryptocurrency.
Because bitcoin is similar to cash, competitions can begin without asking anyone for permission. There is little to no barrier for entry for those who already own some bitcoin. Unlike stock markets, there are no official places sanctioned by any particular country. There are hundreds of exchanges that deal with bitcoin and have their own prices, making the competition even more challenging. Winning a competition can create a sizeable prize.