Competition breeds excellence in all ways. Without competition, there would be no reason to strive to always be our best or perform at the top of our games. The spirit of competition comes from our instinct to not just survive, but thrive at the top of the food chain as humans.
It is human nature to want to win and win big. When the opportunity is in front of us, we tend to follow it. That’s why the all-new PrimeXBT Contests module is the perfect fit for the trading community at large, which is already rife with competition and always ready for what is to come next.
PrimeXBT Contests takes the risk out of trading, however, making the entire experience for users of all kinds and skill levels more enjoyable, engaging, and potentially more profitable. Without the risk, there’s no chance of loss, but plenty of ways to win with weekly and monthly prizes totaling up to $100,000 in the first-ever global trading competition.
Here is everything you should know about PrimeXBT Contests and the global trading competition.
PrimeXBT Creates New Contests With Various Conditions
PrimeXBT Contests is another new module from the masterminds at the award-winning PrimeXBT, known for other successful modules such as the Covesting copy trading module, Covesting yield accounts, and much more. PrimeXBT also offers long and short positions for margin trading with more than 50 different trading instruments all under a single account.
The variety of trading instruments makes for an incredible value for margin traders but also participants of any trading competitions that take place within the Contests module. The list of trading instruments includes cryptocurrencies like Bitcoin, Ethereum, and LItecoin; stock indices such as the Dow Jones Industrial Average, FTSE, DAX 30, and the S&P 500; commodities like gold, oil, natural gas, silver, and more; as well as forex currency trading.
What is forex trading? It consists of currencies traded in the foreign exchange market, such as the United States dollar, Swiss franc, Japanese yen, and many other top currencies from around the globe. Forex trading is further broken down into majors, minors, cross-pairs, and exotics.
With such variety in the instruments alone, it means that trading competitions can be designed with a variety of conditions or focus on certain assets on the list. Trading condition requirements can consist of things like meeting a specific amount of trading volume, a set number of trades, or by only going long or short.
PrimeXBT Celebrates Contests With Global Trading Competition
Contests let users participate in trading competitions. The idea is that new users or those that aren’t yet comfortable with trading can learn in real-time in a simulated market environment using the real trading instruments mentioned above. Professional traders will still find value, by being able to participate in competitions for a chance to win outrageous prizes valued at around $10,000 weekly and up to $100,000 in the grand trading competition to celebrate the Contests platform launch.
Partners of PrimeXBT can also create branded trading competitions to engage with their audiences in a unique and exciting way. For example, a metals firm can promote gold and silver products by having a silver and gold trading competition through PrimeXBT. The possibilities are endless.
The best part is that there is no risk to enter, as all trading is conducted with virtual funds using PrimeXBT’s advanced trading tools. Despite there is no risk whatsoever, there is still plenty of rewards possible. For example, the global trading competition offers up to $100,000 in total, with a first prize winner earning $20,000, with up to ten winners in total.
To learn more about the PrimeXBT global trading competition, you must visit the PrimeXBT Contests section of the website or the company blog where the competition was first announced. There is also a walkthrough of the product along with further details on how to join and the breakdown of prizes.
Why The Trading Competition Matters For Traders
The trading community can benefit from bolstering their skills and winning prizes in a safe and fun environment, and PrimeXBT gets the benefit of a faster-growing user base. The lack of risk takes away any barriers and fears over-trading. Prizes make for plenty of incentive. Once signed up to the trading platform, there is also so much more to check out, as we’ll reveal.
PrimeXBT Contests is just one of many modules, including an Analysis module provided by TradingView, the Covesting copy trading module, Covesting yield accounts, and much more.
Analysis lets traders tap into the best technical analysis tools around, without having to leave the PrimeXBT platform at all. Covesting copy trading connects strategy managers with followers, who make profits together synergistically. Followers copy the trades of these more experienced strategy managers and profit when they do. Strategy managers make a profit share from their followers’ winnings, which makes the entire system work and stay moving.
Because the incentive is so high for both sides of the situation, the fully transparent Covesting leaderboards are jam-packed with hundreds of these skilled strategy managers for followers to sort through and follow. The leaderboards are a window into each manager’s performance.
Covesting also created a module for accessing top DeFi protocols in just a click, allowing users to stake idle crypto assets for a variable APY of up to 10%. The My COV module is where users can then stake COV tokens to activate additional benefits and utilities for use within each Covesting module.
Benefits include a 2x increase in yields, up to a 30% trading fee discount for strategy managers, and a plethora of benefits for followers that is too long to list. Staking COV tokens is simple and can be started or stopped at any given time. COV tokens are regularly burned and ultra scarce, so be sure to get yours today from Uniswap, Kucoin, or at PrimeXBT using the exchange tool.