Poker meets bitcoin in Bybit’s bumper new trading competition. The event, which comes bearing a prize pot worth almost $2 million, is modeled closely on the famous World Series of Poker that’s held in Vegas annually. Bybit’s semiannual counterpart, World Series of Trading, will commence in August and run for two weeks.
The inaugural event is the largest event of its kind, boasting a prize pool that puts other trading competitions in the shade. By way of comparison, Binance’s Quarterly Futures Trading Competition dispenses just $1,000 in BNB prizes each day. Designed for serious crypto traders – as well as poker legends, who have also been invited to participate – Bybit’s event will give all participants an equal shot at glory, regardless of the size of their initial stake.
Bybit Takes Its Trading Game to the Next Level
Bybit is no stranger to trading competitions and promotions. Its Bybit Games event series has attracted participation from a broad swathe of futures traders, and dispensed over $1 million in prizes. Last year’s BTC Brawl, for instance, came packing a 100 BTC prize. This year’s WSOT will double the reward and increase the number of participants, attracting a geographically diverse crowd of wannabe champions.
“The World Series of Trading will be the main tournament of Bybit Games and the crypto trading world. We at Bybit believe in the importance of empowering traders who embody the prowess and passion for crypto trading,” said CEO Ben Zhou. The WSOT event can be seen as a shot across the bows of rival derivatives exchanges such as Deribit, BitMEX, and Binance Futures. Bybit has demonstrated that it is not afraid to innovate, and has been praised for the steps it’s taken to enliven derivatives trading without injecting unnecessary risk.
$2M Prize Will Attract Some Serious Players
The prize that Bybit is offering for its World Series of Trading event dwarfs anything else on the market. As a result, it will attract not only bitcoin traders, but professionals from forex and commodities. After all, many of the requirements for successfully trading BTC are the same as those for mastering traditional markets, including good TA skills, charting abilities, and an innate knack for gauging the mood of a market, be it bullish or bearish. All of these skills will be put to the test when WSOT launches on August 10, with the promise of a 200 BTC prize pool, 20% reduction in trading fees for participants, and over $9,000 in USDT bonuses.