Have you ever heard anything about trading competition from any exchange?
Trading competition is one of the best and most powerful marketing techniques used by some cryptocurrency project owners to attract new and more people to their projects. A large percentage of trading competitions are made by a new project only when they are launched, this helps the project owners to reach a large number of users of their project due to their needs. Often projects that prepare a trading competition to succeed in achieving their goals by 95% - 100% and even more if their project is good and useful to consumers.
In trading competitions not only does the project owner benefit from achieving his or her goals in marketing, but even those involved in the competition also benefit! There are many different gifts depending on the project itself, the project owners, as well as the project sponsors. There are some business competitions that can give you a prize starting at just $10 but there are other competitions that will give you a prize of up to $3000! It all depends on who is behind the competition in the project as well as the service provided by the project. Every trading competition has its own terms and conditions and you must follow them very carefully if you want to be the winner of that competition. Although the terms of the competition may also vary depending on the exchanges in which the competition is conducted, the important thing is to read the terms of the competition carefully and adhere to them!
Personally, I have participated in a lot of trading competitions and have managed to win more than $3000 since I started participating in these competitions, I know my victory is not so great but it is due to my capital in participating in the competition. I have participated in many competitions in three different exchanges which are Binance, Kuna, and Coinsbit exchange but in all that time I have gained the most profits in the Coinsbit competitions! I know you may be surprised why I have won so many times from Coinsbit and not from Binance as it is the leading exchange! As I told you my capital is low, and most of the competitors for Binance competitions have very large capital compared to Coinsbit or Kuna. You can enter with $200 in the Binance competitions and win only $20 because you may be in the top 30 winners! But you can enter with $200 in the Coinsbit competitions and win $300 because you may be in the top 5 winners! This is because Binance is more reliable and therefore has 7 times more users than Coinsbit exchange.
There are a number of things you should consider when you want to participate in a trading competition because most projects that organize competitions are new so there may be different results from what you expected.
There are some projects that will tell you the rule of their competition is to buy their coins and keep them until the end of the competition (if you sell it during the competition you will not be given a prize) now there are projects that when the competition is over they will lower their coins and you will earn a loss.
So you have to participate in project competitions that have a positive impact in the future, not every project will benefit you because I have witnessed some projects stealing money from their participants by lowering the value of their coins immediately after the competition is over! It is advisable to participate in competitions that offer prizes for popular currencies such as BTC, ETH, LTC, USDT, and so on. Or at least make sure the competition is conducted from a trusted exchange such as Binance and etc, make research on the project that organized the competition before buying its coins to participate in the competition.
Nothing more, good luck!