To celebrate its upcoming launch this summer, crypto derivatives exchange EMX is launching a trading competition on their testnet exchange, pitting traders against each other for over $6,000 USD worth of bitcoin in total prize money.
The EMX testnet trading challenge is free to participate in, as it is conducted in a risk-free, simulated market environment. Anyone who wants to participate can do so by joining EMX’s Telegram and signing up for an EMX.com login to participate. Upon registering, they will receive 20 test BTC to trade with.
Participants can trade any of the available futures contracts on Bitcoin, Ethereum, Litecoin and Bitcoin Cash.
The best traders will be ranked by unrealized profit and loss percentage, so factors such as starting capital or start time will not matter. The top 5 traders by profit percentage will split a prize pool, with the top trader getting $2000.
For an interesting twist, there are also prizes for the traders demonstrating the largest declines from maximum profit, and prizes for traders with the most referrals.
The competition lasts a total of ten days, from May 9th to May 19th. Traders can qualify for the prize pool by referring at least one other trader to EMX, using a unique competition invite link given to them upon entering the competition.
Founded in 2017, EMX is the first institutional-grade crypto derivatives exchange to bridge cryptocurrency markets with traditional equity and commodity markets. EMX aims to provide a fair, transparent and secure market, enabling efficient and cost-effective trading for all participants.
Built by a team of traders, engineers and exchange operators with decades of experience in financial markets and technology, EMX provides users with a modern, sleek and powerful interface for trading derivatives. EMX is backed by top investment funds such as Bain Capital Ventures and #Hashed.