Bybit Initiates Bitcoin Trading Contest with $50,000 Prize Pool

In recognition of Bitcoin’s unprecedented peak in value, Bybit, ranked as the second most significant cryptocurrency exchange by volume, has launched a BTC Trading Tournament. The competition will take place from November 19 to December 10, 2024, and is designed to attract traders from various skill levels. The participants stand a chance to win from a grand prize pool of 50,000 USDT spread across two engaging contests.

According to their recent press release, the two main segments of the competition are the Beginner’s Trading Quest and the Profit and Loss (PnL) Battle.

For novices, the Beginner’s Trading Quest offers a chance to engage in trading BTC Perpetual contracts. All that’s required is a minimum trading volume of $100 to qualify for a share in the 10,000 USDT prize pool distributed for this challenge.

Seasoned traders are encouraged to enter the PnL Battle, where a minimum trading volume of $100,000 is the ticket to vie for rewards calculated based on traders’ profit and loss standings. A sum of 6,000 USDT awaits the top trader, with prizes reducing in amount down to the 50th place contender.

Bybit ensures competitors are well-equipped for success by offering sophisticated tools such as Trading Bots for automated transaction execution and Copy Trading, allowing users to mirror the trades of proven successful traders. Both novice and expert traders will find the competition inclusive of their trading capabilities.

Competition Overview

Match 1: Beginner’s Trading Quest
Reward Pot: 10,000 USDT Bonus
Objective: Carry out trades with any BTC Perpetual contracts (BTCUSDT, BTCUSDC, BTCUSD), ensuring a trading volume that meets or exceeds $100.
Compensation: All new and qualifying perpetual contract traders will split the 10,000 USDT prize pool evenly.

Match 2: PnL Battle
Reward Pot: 40,000 USDT Bonus
Objective: Engage in trading with any BTC Perpetual contracts while attaining a trading volume of no less than $100,000. The rankings will be based on Profit and Loss (PnL) outcomes.

Prize Distribution:

1st Rank: 6,000 USDT Bonus
2nd Rank: 4,000 USDT Bonus
3rd Rank: 3,000 USDT Bonus
4th to 10th Ranks: 1,000 USDT Bonus Each
11th to 50th Ranks: 500 USDT Bonus Each

Ben Zhou, CEO of Bybit, conveyed excitement for the forthcoming event, stating, “The crypto sphere has reached a monumental juncture with Bitcoin’s record highs. We are eager to present traders with this platform to demonstrate their adeptness in trading and receive commendable rewards in this celebratory period.”

This tournament offers traders a timely opportunity to leverage the upward trend in Bitcoin. Registration is presently live, promising traders a shot at the substantial 50,000 USDT reward pool. For more information and further updates, veer to Bybit’s main site.