ByBit has just announced that they are launching a vast Bitcoin trading competition on their platform starting on the 10th of August. Link for account registration and the contest will be found at the bottom. If you want more information about the exchange please refer to our detailed evaluation of ByBit.
The World Series of Trading (WSOT) will be a twice-a-year crypto trading competition where users from around the globe can participate to win recognition and prizes in the form of bitcoin.
The competition rankings will be based on profit and loss in percentage (PnL) to make it fair for everyone despite account balance. The only exciting thing to see from a rankings standpoint is how well the competitors can trade, not how much they start with on the account.
ByBit Prize Pool
The traders in this competition will be competing for a piece of the 200 Bitcoin prize pool supplied by ByBit.
Additional Bonus Rewards and Perks
If you pre-register, you will receive an extra $60 in the welcome bonus. Additionally, if you create your account through the link provided below you will be eligible to get up to $90 extra as a welcome bonus.
Note there will be a maximum of $9 400 in bonuses being shared among the registrants for this competition.
During the period of the competition, there will be a 20% discount off all trading fees.
In other words, even if you don’t plan on competing, registering to receive a welcome bonus and lower fees for when or if you trade during the competition period, is probably not a dumb idea.
Account Creation and Competition Registration
If you don’t have an account from before or desire a new one with bonuses available, use the registration button below to get started with an account that grants you up to $90 in welcome bonuses.
If you only desire to get started with registering to the World Series of Trading competiton, use the button below.
Why do Exchanges Arrange Competitions?
There is a straightforward reason; it’s a win-win situation.
The traders will be able to win a large sum of prizes and trade at a discounted rate. However, the exchange hosting the competition will reap the benefits of promoting their brand and exchange. The massive levels of increased trading activity will also cause increased fee revenue for the exchange.
This is why I enjoy competitions, even if I use it to test an automatic strategy or do it manually, it allows me to trade for cheaper and possibly win prizes and see how well I do against others.