There’s a New Challenge in the Crypto Area

If you are a big fan of Bitcoin trading, then we have good news for you! Phemex just started a new edition of Trader’s Arena on March 10th. 

Yes, it’s back!

And this time, with up to a $2 million prize pool.

What to know about Trader’s Arena

In case you didn’t hear about it before, Trader’s Arena is a crypto trading competition that focuses on teamwork. To participate, you need to have at least 0.005 BTC in your trading account.

From March 10th to March 24th, you can join the contest as a leader and start gathering at least 10 members for your team. Or you can choose to be the sidekick for another leader. 

From March 24th to April 7th, all the team members start trading Bitcoin like always, but this time working together to overcome other teams’ activity. 

On April 13th, you will find out if you and your team are among the winners - if so, you will get sweet rewards. 

The prize pool varies depending on the total number of participants:

• Less than 500 traders equals $10,000;
• 500 - 999 traders equal $25,000;
• 1000 - 1999 traders equal $75,000;
• 2000 - 3999 traders equal $150,000;
• 4000 - 5999 traders equal $400,000;
• 6000 - 7999 traders equal $600,000;
• 8000 - 9999 traders equal $1,000,000;
• 10000 - 14999 traders equal $1,250,000;
• 15000 - 17999 traders equal $1,875,000;
• 18000 - 20000 traders equal $2,000,000.

In other words, the more friends you gather, the higher is the pool prize. 

Who can win, and how is the prize distributed? 

To be considered a winner, you need to find yourself among the first 10 teams on the leaderboard or one of the first 10 traders. 

Or both, if you really strive for perfection. 

The prize pool is divided into these two categories - 78% for teams and 22% for individuals. 

Team Awards prize distribution  

• 1st Place - 25% of the total prize pool;
• 2nd Place - 15% of the total prize pool;
• 3rd Place - 8% of the total prize pool.
• 4th to 10th Place - 30% of the total prize pool distributed evenly.

Individual Awards prize distribution

• 1st Place - 8% of the total prize pool;
• 2nd Place - 5% of the total prize pool;
• 3rd Place - 2% of the total prize pool.
• 4th to 10th Place - 7% of the total prize pool distributed evenly.

Are all the team members getting the same rewards?

No. 

Like any other team, it is normal to have members that get involved more than others. Given that Phemex wanted a fair game, the team prize is distributed depending on the level of commitment:

For 20 members or more

• Captains get 40% of the team reward;
• The top 10 members share 30% of the team reward;
• The rest of the team share 30% of the team reward.

For less than 20 members

• Captains get 40% of the team reward;
• The rest of the members share 60% of the team reward.

Are you ready?

If you want to make the most out of your trading talent, then don’t lose the chance to join this massive competition. 

Plus, the first 2,000 participants will get a $10 bonus for trading. So what are you waiting for? 

Gather your friends and show what you got!

Disclaimer: This is a sponsored press release, and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.