Trading campaigns helps level up trading for traders

[Cryptoababe]

Traders mostly enter the markets to make profits or accept losses. But these days, trading platforms incentivize traders with attractive rewards and events.
An example is this event which offers lucrative prizes like Louis Vuitton bags, Rolex watches, and even a Tesla car for achieving higher trading volumes.

So, even if traders incur losses, the prospect of earning substantial rewards can motivate them to keep trading. These kinds of campaigns make trading more engaging by providing tangible incentives beyond just monetary profits or losses. With the right strategy, dedicated traders can aim to accumulate trading volumes and secure coveted prizes while also making profits

[1714754978]

1714754978

[1714754978]

1714754978

[1714754978]

1714754978

[1714754978]

1714754978

[1714754978]

1714754978

[Bitcoin_Arena]

Except for maybe just gaining experience, a variety of traders lose out on the rewards that are usually given out to the few. Such competitions mostly favor whales as they have very high trading volumes unlike retail traders with small accounts.

Compared to the prizes top traders win, exchanges often make a lot from trading fees in such competitions. They are just aimed at upping an exchange's revenue.

[Assface16678]

Traders mostly enter the markets to make profits or accept losses. But these days, trading platforms incentivize traders with attractive rewards and events.
An example is this event which offers lucrative prizes like Louis Vuitton bags, Rolex watches, and even a Tesla car for achieving higher trading volumes.

So, even if traders incur losses, the prospect of earning substantial rewards can motivate them to keep trading. These kinds of campaigns make trading more engaging by providing tangible incentives beyond just monetary profits or losses. With the right strategy, dedicated traders can aim to accumulate trading volumes and secure coveted prizes while also making profits

Well, its a very good thing truly, that trading platforms will give prizes for those traders that will make a higher trade volumes and maybe earnings also, although this will motivate those traders to trade more and also can drive them to learn more about trading in order to trade profitable, there will always a disadvantage to it, like OP said that this will drive those traders to trade more, some for sure will be desperate because they now or they want to get the prizes and that's when greed will come, they keep on trading even though they know they lack something, they lack in terms of experience or knowledge in trading, in short of for other this will serves as a motivation for others it will make them desperare, well wr can't control people or what will they do so its up to them on what they will doing in trading.

[boyptc]

Those that are good can join them but for someone like me that don't trade a lot but wants to make some profit, maybe if you're qualified to join and just want to experience how it goes, you may try to go.

The incentives that the traders will get there could also help them more with their trades if ever they win. Those prizes are good amounts and encouragement to those that are good in trading.

But, there's always the minimal requirement that's needed and it's not for everyone to join.

[Potato Chips]

So, even if traders incur losses, the prospect of earning substantial rewards can motivate them to keep trading.

But risks should be taken into account as well. For instance, they could end up burning a lot of money and not getting the reward they want or at least the same value of the funds burned. But hm, I think most people in the forum are not whale enough for such contest.

[GreatArkansas]

(....)
So, even if traders incur losses, the prospect of earning substantial rewards can motivate them to keep trading. These kinds of campaigns make trading more engaging by providing tangible incentives beyond just monetary profits or losses. With the right strategy, dedicated traders can aim to accumulate trading volumes and secure coveted prizes while also making profits

It's kinda experimental as this is not existing before. This approach could potentially shift the focus from purely financial gains to the excitement of earning luxury rewards. For traders, this mans an additional layer of goals beyond market profits.
However, there is also a risk that such incentives could encourage excessive trading or taking unnecessary risks to meet the requirements for rewards.

[SamReomo]

These kinds of campaigns make trading more engaging by providing tangible incentives beyond just monetary profits or losses.

Those campaigns are created to get volume on coinmarketcap. The exchanges that offer such campaigns aim to get all those traders who get greedy after seeing something like that and in greed they continue to make a lot of trades to create volume so they could earn the rewards.

During that some of those traders end up loosing way more money than they earn even by winning those rewards. There are only a few exceptional traders who find such campaigns as an opportunity and instead of focusing on trading volume they look for those who try to create that volume and earn profits by buying/selling at right times.

[OcTradism]

Traders mostly enter the markets to make profits or accept losses. But these days, trading platforms incentivize traders with attractive rewards and events.

With the right strategy, dedicated traders can aim to accumulate trading volumes and secure coveted prizes while also making profits

Trading is risky and if  you trade to achieve KPI, just a word, to meet trading volume and other requirements to win prizes of a trading competition, I am quite sure that you will put your capital to bigger risk.

Do you think why exchanges host those trading competitions?

It's because they can get benefit from these events. Their users trade more, the exchange earn more from trading fees and if it is margin, futures trading, they get more trading fees than with spot and even much more by liquidate their users' trading positions.

[michellee]

Trading campaigns attract many people to follow them, regardless of whether they have good trading skills or not. They want to get this tempting prize and try to be one of the winners. This is actually a good move for trading platforms to attract more people to join.

However, traders should be aware of the extent of their trading abilities. If they don't have good trading skills, they shouldn't follow it. They can continue trading as usual because competition in the trading campaign will definitely be tight. There will be a sudden rise in emotions because they want to be one of the Top Traders and that will make them lose control of themselves in trading.

We don't need to force ourselves to join such campaigns if we realize our lack of trading ability. We should learn more so we can improve our trading skills. There will be many other trading campaigns in the future, so we don't need to insist on following them.

[LogitechMouse]

~

These types of contests favor the whales. Well, they are being favored every time, right?

I bolded the text so many can see that the contest or in this case campaigns is based on the trading volume. Average investors can join, but their chances of winning would be lower because those who are rich are the ones that will win. If not the rich people, those who are expert in trading are the ones that will win. If an investor will join solely for these types of campaigns, then I guess it isn't worth the try especially if you're a newbie.

It would be better to just trade as it is and don't focus too much on these campaigns. I know that these are being added on these Centralized Exchanges to attract investors, but at the end of the day, your main goal when you're trading is to make more money and not these items.

[$weetne$$]

So, even if traders incur losses, the prospect of earning substantial rewards can motivate them to keep trading. These kinds of campaigns make trading more engaging by providing tangible incentives beyond just monetary profits or losses. With the right strategy, dedicated traders can aim to accumulate trading volumes and secure coveted prizes while also making profits

I do not see any problems with participating in trading competitions, they can serve as a motivation to make you improve on your trading strategy and become a more successful traders. They also have their bad sides but you are incharge of letting those bad effects to have an impact on you. You do not have to forget about the discipline you should have as a trader and ignore your trading strategy because there's a competition that you want to win. If you trade and lose, you do not have to continue trading when you know what is motivating you is a prize reward and not because you have reanalyzed your strategy and you saw some mistakes that made you to lose the trade. Trading competitions should only motivate you to becoming a very good trader that follows all the guidelines to prevent losses and not letting trading competition shift your attention to sometimes different.

[Iamcrypticguy]

Traders mostly enter the markets to make profits or accept losses. But these days, trading platforms incentivize traders with attractive rewards and events.
An example is this event which offers lucrative prizes like Louis Vuitton bags, Rolex watches, and even a Tesla car for achieving higher trading volumes.

So, even if traders incur losses, the prospect of earning substantial rewards can motivate them to keep trading. These kinds of campaigns make trading more engaging by providing tangible incentives beyond just monetary profits or losses. With the right strategy, dedicated traders can aim to accumulate trading volumes and secure coveted prizes while also making profits

Well, its a very good thing truly, that trading platforms will give prizes for those traders that will make a higher trade volumes and maybe earnings also, although this will motivate those traders to trade more and also can drive them to learn more about trading in order to trade profitable, there will always a disadvantage to it, like OP said that this will drive those traders to trade more, some for sure will be desperate because they now or they want to get the prizes and that's when greed will come, they keep on trading even though they know they lack something, they lack in terms of experience or knowledge in trading, in short of for other this will serves as a motivation for others it will make them desperare, well wr can't control people or what will they do so its up to them on what they will doing in trading.

I think this kind of event will test your discipline and risk management levels, such as how you perform under pressure. It's a good challenge, and even better if you can meet the requirements and compete for the listed prize. I would have taken on this challenge myself, but unfortunately, I just noticed that the campaign is only open to users in the UK, Canada, Australia, DACH, France, Italy, Netherlands, Sweden, and Poland.

[Bureau]

It looks like exchanges are now following the path of crypto casinos. Casinos are known to attack new and existing gamblers by holding wagering competitions in the past to increase their revenue. The same is being done by the said exchange to get new traders and attract existing traders. I do wonder how many traders have won those awards and whether such competitions are completely fair towards the traders. I have seen Binance and a few more exchanges organizing such events but they do not offer physical rewards, they offer tokens which I think is fair enough as participants do get to see their rewards.

[Silberman]

Traders mostly enter the markets to make profits or accept losses. But these days, trading platforms incentivize traders with attractive rewards and events.
An example is this event which offers lucrative prizes like Louis Vuitton bags, Rolex watches, and even a Tesla car for achieving higher trading volumes.

So, even if traders incur losses, the prospect of earning substantial rewards can motivate them to keep trading. These kinds of campaigns make trading more engaging by providing tangible incentives beyond just monetary profits or losses. With the right strategy, dedicated traders can aim to accumulate trading volumes and secure coveted prizes while also making profits

I do not see those contests with the same light, since on their desire to obtain one of those prizes, traders may overtrade the markets or leave behind their money management strategy and use too much money for each one of the positions they open, so even if they were to win one of those prizes, most likely they will lose more money than what it could have cost them to buy the item outright, plus this could lead them to develop mistaken habits which could later cost them even more money.

[EarnOnVictor]

Traders mostly enter the markets to make profits or accept losses. But these days, trading platforms incentivize traders with attractive rewards and events.
An example is this event which offers lucrative prizes like Louis Vuitton bags, Rolex watches, and even a Tesla car for achieving higher trading volumes.

So, even if traders incur losses, the prospect of earning substantial rewards can motivate them to keep trading. These kinds of campaigns make trading more engaging by providing tangible incentives beyond just monetary profits or losses. With the right strategy, dedicated traders can aim to accumulate trading volumes and secure coveted prizes while also making profits

It's okay if you call it a campaign but it has been conducted since a very long time. If I limit the time, I would say since over 20 years now. And of course, it has been helping traders and it can come in different forms. I became what I am in trading today because of these kinds of programs, and what helped me mostly was the programs where brokers would invite interested traders to post on their forums, just like what we do here and will be giving us incentives. The arrangement is that the money you accrued through your activities on the forum would be deposited into your trading account as bonuses, and you can trade it as you like.

The profits gained from it can also be withdrawn with no questions asked. I must say that I participated in such a program for over 10 years and I made so much money and most importantly gained enough trading knowledge. This helped me stop losing money directly by depositing in my trading account and that alone is a big encouragement for me to keep on learning even as new deposits are entering my trading account weekly. What a grace!

Today, if I flash back, I always appreciate such a program that made me train, test, reorganize and restructure my trading systems and styles until I eventually discovered myself and my path in trading. But unfortunately, those of Bitget and others are not so the same, but at least, could still prompt traders who believe they can win something, and for this, try their luck. But for me, I rather prefer the demo context to all these, after all, nothing is to be lost even as you gain more expertise.

[Dzwaafu11]

Trading is risky and if  you trade to achieve KPI, just a word, to meet trading volume and other requirements to win prizes of a trading competition, I am quite sure that you will put your capital to bigger risk.

Yeah. Because even when the traders suppose to do the best thing he won’t since his mind will be in where he will get those things from and exchanges also he will use huge amount of money to trade so that he will be the winner of the competition which is not the main problem here. The things is these trading platforms are doing advertisements and this is what some traders are still yet to understand, those people are not doing this for the sake of motivating their customers to use their platforms for more than the time they have been using it, they are doing it because they want to get more people in their platform, and this is what some traders did not understand.

Do you think why exchanges host those trading competitions?

It's because they can get benefit from these events. Their users trade more, the exchange earn more from trading fees and if it is margin, futures trading, they get more trading fees than with spot and even much more by liquidate their users' trading positions.

Also they should get more traders to joint their platform and trade using the exchange, so some traders who are still yet to even get enough skils to trade, are rushing to join the exchanges to trade and risk their money which most of them may even lost, because there is no way you will trade without the knowledge of trading, and this one is competition, which I believe it will make them risk more than what they can afford to lose.

[joeperry]

It's a competition and just like @Bitcoin_Arena says, only whales will take advantage of this kind of promotion and it's not a competition but rather a campaign ad to have more big traders to come join their site. Though it would be nice if they offer a daily challenges to players or side quest they can beat to have a special discount or might get a new coin offering  or they'll have at least a discount in the trading fee or something like that.

In this way all traders no matter small or whale could enjoy up and would definitely help them to grow and keep trading entertaining.

[batang_bitcoin]

It looks like exchanges are now following the path of crypto casinos. Casinos are known to attack new and existing gamblers by holding wagering competitions in the past to increase their revenue. The same is being done by the said exchange to get new traders and attract existing traders. I do wonder how many traders have won those awards and whether such competitions are completely fair towards the traders. I have seen Binance and a few more exchanges organizing such events but they do not offer physical rewards, they offer tokens which I think is fair enough as participants do get to see their rewards.

IMHO, every establishment has their own ways of marketing their platforms and that's just part of everything. As for these trading competitions, it's possible that they're attracting new users of their platforms but have been trading in some other exchanges. It's actually a good way to promote and gain more good traders into their platforms. Because the more, the better and more commissions they get from each of the trades that these good ones make.

[Kelward]

So, even if traders incur losses, the prospect of earning substantial rewards can motivate them to keep trading.

But risks should be taken into account as well. For instance, they could end up burning a lot of money and not getting the reward they want or at least the same value of the funds burned. But hm, I think most people in the forum are not whale enough for such contest.

Trading campaigns are not for every traders, newbie traders, inexperienced traders and traders without sufficient trading funds will likely not win in these competitions, they'll end up over trading and burning out their limited trading capital. Whale traders and experienced traders are the most suitable contestants to win these competitions because they have the money and skills to go far and win. Just like the casino owners, the trading competition organizers are not charity organizations, they're into business to make profit, and the more competitor's means more fees and popularity, so as they're rewarding winners, they're also gaining.

[Lakai01]

[...]
Trading campaigns are not for every traders, newbie traders, inexperienced traders and traders without sufficient trading funds will likely not win in these competitions, they'll end up over trading and burning out their limited trading capital.

To be honest, I see it the same way. I have often taken part in gambling competitions on various platforms such as WinDice in the past. The result was always the same: Whales with the corresponding amount of Bitcoin on the respective casino won the competitions and took the prize money (which in some cases was well over 0.1 BTC in 2018).

Unfortunately, this is also the case with trading competitions. A whale simply takes 100 BTC, exchanges it for USDT and immediately swaps it back ... and has a trading volume of 200 BTC. Someone with just a few BTC will never achieve such a volume, even if they carry out the trades constantly ... especially because fees are then also due and reduce your own holdings.