The event will take place in Waves DEX, a platform that allows the programming of tokens through smart contracts, and fast exchange thanks to a novel architecture focused on the development of the Web 3.0
The World Series of Crypto Trading Contest will begin on June 20, allowing traders and enthusiasts from around the world to compete in a safe and tamper-free environment to see who is the world’s best crypto trader.
To take part in the World Series of Crypto Trading, no significant investment is required. According to the event’s website, registration is free and only requires the installation of Waves Keeper and a Telegram account.
Although the prize is in real tokens with monetary value, the exercise of trading during the competition is purely recreational. At the time of registration, traders will receive 100,000 dUSD (demo tokens) which they will use to trade against dBTC and dETH.
The public can follow the evolution of the competition in real time. In the end, the possibility of any kind of trading with demo tokens will cease and they will convert the entire balance back to dUSD.
Everything Will Run on Waves
According to the rules, all participants with more than 100,000 dUSD at the end of the competition will enter a pool of winners with a distribution of prizes as follows:
- 1st place will receive 5000 Waves
- 2nd place will receive 3000 Waves
- 3rd place will receive 2000
- All the other winners will share a prize of 3000 which will be “divided in proportion to their trading profits above the initial capital of 100,000 dUSD.”
Sasha Ivanov, Founder and CEO of Waves shared his excitement with the British news portal Business Fast after learning that the organizers of the World Series of Crypto Trading chose his blockchain to develop this event:
“The World Series of crypto trading (WSOC) – is a platform that specializes in holding trading tournaments, inviting all exchanges and the whole crypto community to participate … We are convinced that the choice of Waves DEX exchange for the tournament by WSOC will provide complete transparency and reliability of the outcome. So let the battle begin!”
Events like this illustrate the significant growth of the ecosystem. The organizers hope to replicate the success of similar competitions – such as the World Cup Trading Championships – which have been held since 1983.
This year-long competition evaluates participants’ performance according to various categories such as Futures trading, Forex, Binary Options, Equity Index, etc. Since no category included cryptocurrencies, the WSOC organizers filled this gap.
World Series of Crypto Trading: Win Money, Promote Trading and Help the Ecosystem Grow
According to Joel Robbins, President of Robbins Financial Group Ltd, and founder of the World Cup Trading Championships, the competition is perfect for traders to show their talent:
“It’s a good way for promising traders to make a name for themselves and ultimately become commodity trading advisors, or become advisors on WorldCupAdvisor.com. The main motivation of a lot of entrants is to make a name for themselves and develop their career.”
It is possible that the crupto equivalent of this 34-year-old competition, may boost the hype around crypto trading, helping to the expansion of the whole community. It’s easy, it’s free and it’s risk-free too, so lots of participants could actually find this competition as motivational. In a paper named “Intrinsic motivation and pro-environmental behaviour” Mr. Sander Van Der Linden explains that the very nature of a competition may impact not only the competitors but the whole enviroment that gravitates around them, so it is always good to expect something positive from this event other than just a prize in Waves tokens…
And seeing how some winners got returns of just 2% with a maximum of 243% in traditional investments, it is not strange to realize why Bitcoin has been considered the most profitable asset by many standards.
ROI of Bitcoin in blue, compared to de SP500, Dow Jones, Nasdaq and Nikkei