We have fantastic news for Bitcoin trading enthusiasts! On March 10th Phemex unveiled the Trader’s Arena 2021 edition.
And this time, with a prize pool that can hit 2 million dollars.
What is Trader’s Arena?
In short, Trader’s Arena is a team-oriented crypto trading competition. The goal is to get a place in the top 10 best trading teams registered.
But watch out. The contest is made for truly devoted traders. Therefore you should have a BTC Trading Account Net Value of at least 0.005 BTC to be eligible. Also, each team must have at least 10 members. Otherwise, you would have no chance of winning.
As of March 10th, those interested can sign up as a team leader and start building their team until March 23th. Or they can join other already made teams.
Then it’s time for trading, from March 24th to April 7th. After that, Phemex will start working on the leaderboard to announce the winners and distribute the rewards on April 13th.
The prizes distribution
The total prize pool depends on the number of players, so for a maximum of $2 million, the number of participants should hit at least 18,000.
This can’t be that hard, considering that you will get all your crypto enthusiastic friends to the game.
Once the total prize pool is set, it will be distributed in two groups – 78% for teams and 22% for individuals:
- The first three teams on the leaderboard will get 25% of the total prize pool, respectively 15% and 8%. The following seven teams will have 30% of the total prize pool to share evenly.
- The individual traders get a reward too. The best trader gets 8% of the total prize pool, the second one 5%, and the third one 2%. The following seven traders on the leaderboard will also share 7% of the total prize pool.
Besides the prize pool distribution, players can get additional bonuses depending on how they choose to play.
If they choose the role of captains, then they will also get:
- 100 USD team formation prize;
- 1 million unique visitors in traffic exposure;
- 50% maximum share of trading commissions.
If they choose the role of sidekicks, they could get:
- $10 bonus – if they are among the first 2,000 players registered;
- Limited edition Phemex merch.
Are you up for the challenge?
There are up to 45 Bitcoins on the line, so get your best squad and conquer the game! Show us what a real trader is made of!
Disclaimer: The content of this article is sponsored and does not represent the opinions of Finance Magnates.