Do you love to trade cryptocurrency? And do you want to make some extra crypto off of this? In that case, look no further – as a freshly launched competition promises to give away 5 BTC to lovers of cryptocurrency trading.
Competition will remain open until February 28th
Specifically, this competition is being held by the blockchain trading platform trade.io. Moreover, the competition is intended to celebrate the addition of the NEO and EOS blockchains onto trade.io‘s exchange.
Traders that manage to outperform the competition – through superior returns and volume – will receive one of trade.io‘s Bitcoin prices. Furthermore, competitors do not have to limit themselves to the NEO and EOS coins. Rather, any coins on the trade.io exchange will be eligible to trade for the competition.
The criteria for entering the competition are also fairly straightforward. First and foremost, all existing accounts, as well as new ones, will automatically be entered in the trading competition. Those without a trade.io account can sign up here.
In addition to this, those looking to enter the competition should make sure that they have a starting balance of at least 0.1 Bitcoin, or a currency equivalent to this.
Moreover, those looking to take part in the trading competition will need to trade a minimum of 500 US dollars – or a currency equivalent to this amount.
The competition was kicked off on February 18th, at 8:00 AM GMT. However, there’s still plenty of time for prospective traders to take part in the event, as it will run until February 28th, at 0:01 AM GMT.
Winners will be determined by performance and volume
Furthermore, contestants will need to take in the competition both when it comes to volume and performance. Specifically, traders’ overall ranking is calculated by multiplying one’s performance score with their volume score.
Calculating the performance score is relatively uncomplicated. If a trader begins the contest with 1 Bitcoin (or a currency equivalent) and ends it with 2 Bitcoin (or a currency equivalent) will have a 100% return. Moreover, if 100% is the largest percentage increase in asset balance amongst all traders, this trader will receive a performance score of #1.
The volume score works much in the same way – although it is based on total volume. The trader with the largest trade volume will receive a volume score of #1. These two scores will then be multiplied, and the trader with the lowest overall score wins.
All in all, 50 lucky and skilled winners will ultimately win their fair share of Bitcoin through the competition.
Rasmus Pihl is a writer for Toshi Times by day and an avid follower of the cryptocurrency industry by night. Rasmus holds a Bachelor’s Degree in Marketing from the Gothenburg School of Business, Economics, and Law and runs a Swedish marketing consulting firm. Moreover, when he isn’t writing for Toshi Times, traveling, working or changing the world in some other capacity, Rasmus is more than likely caught up in postgraduate studies.