People were ecstatic about it last autumn, and, fortunately, it happens again. The Trader’s Arena applications have opened on March 10 and will remain so until March 23. There are already quite a few thousand traders that decided to join in.
Get yourself a BTC Trading Account with a net value of at least 0.005 BTC at the time of registration. Go through the registration process, and that’s it. And if the net value goes below 0.005 BTC after the registration, that’s no problem. You can still join in as the contest will take the value at the time of registration as the initial net value within the competition.
If you want to compete with the teams, you will have to join a group. But you can’t change your mind once you join. Therefore, don’t leave it at faith’s will and ask around in crypto groups.
You can also create your own team, and you’re actually encouraged to do so as you have special rewards waiting for you as a captain. Just keep in mind that you have to rally at least ten good traders. If you have less than ten members when the competition starts, your team will get disbanded, and the members will be resigned randomly.
And once you decide to get in the competition, do not think of using tricks and other gimmicks.
Keep your nose clean of:
Batch account registrations
Profits from market manipulation
Reverse transactions between team members to yield higher ROI’s for a certain percentage of the team at the expense of the rest
Or using APIs.
Work hard together with your team and use clean trading only so you have a real chance of winning the big prize.
Phemex Trader’s Arena Prizes
In terms of prizes, the Trader’s Arena is meant to reach a prize pool of $2,000,000 as soon as the competition registers over 18,000 applications. No worries, Phemex is still holding the event, even if there are less than 18,000 participants.
At the moment, over 2661 people joined the Phemex Trader’s Arena, putting the prize pool at 3 BTC.
The prizes are divided into two tiers to reward as many hard-working traders as possible:
Team Awards 78% of the prize pool
Individual Awards 22% of the prize pool.
In the Team Awards category, the #1 team wins 25% of the prize pool, #2 gets 15%, and #3 receives 8%. As for the remaining 30%, it goes to teams #4 – #10.
The captain is incentivized to lead his team properly as he gets 40% of the prize a team receives. But the other members are also motivated to perform, as the top 10 traders in the team will receive 30% of the prize. The rest of the group is rewarded the remaining 30% of the prize.
As for the Individual Awards category, the 22% will be split between the 1st best trader (8%), 2nd best trader (5%), 3rd best trader (2%), and 4th-10th best traders (7% split equally).
How Long will the Arena Last for?
The competition starts on March 24 and will end on April 6. As mentioned before, the applications have opened since March 10 and will be received since the 23rd (included). There is still time to get in but don’t forget that time flies fast.
In two weeks of participating in this BTC trading competition, you have the time to establish your position and coordinate with your team to get the best results by the end of it.
And if you and your team did a good job, on April 13, you will be rewarded generously.
So, whip the dust off of your PC, laptop, or whatever trading setup you use and prepare for the competition. The cryptocurrency bull run is not yet over, and getting a hold of new funds can help you reach the moon with your assets.
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