As a top crypto platform, Phemex always makes it a point to surprise its users with innovative ways to generate profit. The exchange has announced a new linear BTCUSD contract that is USD-margined.
What’s more, they’re hosting a trading contest where individuals may compete for a $20,000 prize pool by trading the linear BTCUSD contract. To win, users must rank in the top ten traders by trading volume.
If you’re new to the platform, make sure to first register on Phemex and then join Bitcoin Bonanza through the competition page. Before going any further, let’s learn more about the initiative and see when and how the prizes will be awarded.
Phemex
Phemex was built to provide users with trustworthiness, customer service, and professionalism.
Phemex is more than a trading platform, its purpose is to enable everyone to engage in trading and risk management. The platform’s founders include Jack Tao and other experienced Wall Street executives who put users’ needs first and strive to make the trading environment safe for all.
How to join the competition
To participate, individuals must first create an account to begin trading. The competition features three main phases.
The first stage is event registration, which begins at 8:00 UTC on October 26 and ends at 8:00 UTC on October 28. The second stage is the competition, which will run from October 28 at 8:00 UTC to November 7 at 8:00 UTC.
Starting November 15, prize distribution will take place.
What are the prizes and terms?
This competition is unique in that it is just a linear BTCUSD perpetual contract trading competition. The BTCUSD USD-margin trading volume will be used to calculate who wins. The inverse BTCUSD contract is not included in this competition. After the contest period ends, the awards will be given in BTC.
To maintain fair competition, the following behaviors will result in immediate disqualification:
- Registration of several accounts in a batch;
- Profits made from market manipulation;
- Using API for competition.
Only primary accounts will be counted in the competition; sub-accounts will not. The final quantity of BTC will be determined by that day’s OTC settlement exchange rate. Phemex has the final say when it comes to adjusting conversion prices.
Phemex has the right to make final, binding changes to these regulations at any time. All users should be aware that the rewards are determined by the amount of BTCUSD linear contract trading that occurs during the competition stage.
Below is a table showing the various potential prize totals:
| Rank/ Participants | 1 | 2 | 3 | 4-6 | 7-10 |
| <250 | 3,000 USD | 1,500 USD | 800 USD | 500 USD | 200 USD |
| 250-500 | 5,000 USD | 3,000 USD | 1,500 USD | 800 USD | 300 USD |
| >50 | 8,000 USD | 5,000 USD | 2,000 USD | 1,000 USD | 500 USD |
Conclusion
Phemex is an efficient crypto trading platform that provides users with the best services. What’s more, they’ll always list the safest and most popular cryptos for trading.
Members can contact their CEO via Telegram and Twitter, and the platform offers 24/7 multilingual support. Phemex offers unique services so that all types of customers have something to look forward to.
Other than that, they will always surprise their members with different competitions and prizes.
With Phemex, you can rest assured that you’re enjoying the greatest crypto experience possible. See what’s new on their platform by following them on social media: Facebook, Twitter, Telegram, LinkedIn.
