Bitcoin Forum

Covesting's trading competition went live!

https://medium.com/covesting/trading-competition-is-now-live-2c15f4048d2f

https://medium.com/covesting/here-we-go-release-candidate-trading-competition-and-bug-bounty-ce8613f2e817

How to apply for participation:

1. Register at the covesting.io and confirm your email (you can use your existing account if you have one);
2. Complete the KYC procedure
3. (UPDATED) PM one of the telegram admins in order to be provided funds by Covesting.

Was this for randomly selected participants? I want to participate and get $100. That sounds like a lot of fun.

Did you get invited? Or know how to get invited to participate in these events?

Some exchanges are also offering that kind of competition. I saw some that gives you trial funds that when you could reach a quota for trading volume or gathered/deposited amount then you now could withdraw that trial fund. It might work this way and the given 100$ for trading could only be withdrawn if only you could win the competition plus the prize. Nothing free either.

Do you have to undergo KYC procedure? I never leave my personal data on the Internet anywhere

This would make traders eager enough to trade intensely without knowing whether it is the right trade or not, but I guess this would be a great idea for the once who are good in trading.

This type of competitions are good for the promotion but I have participated in few of these competition on different exchanges and I think they are not fair in some exchanges the exchanges try to bring the fake volume by some bots/internal traders forcing the participants to make more than usual trades to maintain their positions in the competition.

Nice concept aimed at creating lots of activity on the exchange and generating new users. I've never won a contest, so I hardly bother trying. But it won't be such a bad idea trying some trades on there

Some of the exchanges offered lower price bids, which I think pulled down the market price to a very cheap value. That made the it unfair in terms of profitable gains with other exchanges. The competition was so tough and definitely as holder, we can't expect and immediate price change in quicker timeline.