Binance, the world’s leading crypto exchange platform, announced the launch of its new trading strategy contest which permits regular clients of the platform to perform better trading strategies than their peers, as reported by Blokt. The competition, which takes place between October 18th and November 1st, would total prizes of 37,000 Binance Coin (BNB) crypto tokens, about $358,000 at the current trading rate.
The Binance trading strategy contest has some rules, as well as any other competition. There are no restrictions on which or how many cryptocurrencies users plan on using during the contest, and, this time, Binance’s representatives will now focus on the quality of the tradings instead of concentrating on the volumes as it happened in previous competitions operated by the crypto exchange platform.
“You are free to select the cryptocurrencies you like to trade, buy, and sell, whether you trade one token or 50. We measure for overall crypto wisdom here,” Binance said in a blog post on the new trading strategy contest.
Binance Crypto Exchange Launches Trading Strategy Contest With 37,000 Binance Coin (BNB) In Prizes
Binance will rank the traders who participate in this trading strategy contest depending on the rate of their returns that they receive.
“Regardless if you trade one token or 50, your total returns will be appraised in comparison to your starting balance, all measured in Bitcoin (BTC). This way, we are leveling the playing field by looking at growth rates, not just the crypto added,” added Binance.
According to the official blog post on the Binance site, the cryptocurrency exchange platform will offer 37,000 Binance Coin (BNB) tokens in prizes. As reported by Binance, the winner of the trading strategy contest would receive 8,000 BNB, while the second-place would get 4,000 BNB. The third place winner would receive 2,000 BNB.
Also, the 6,000 BNB tokens would be split equally for the occupants of the 4-10 places, while another 7,000 Binance Coin (BNB) would be evenly distributed for the rest of 40 traders who rank from 11th to 50th.