Why Not A Crypto Trading Tournament Like Having FIFA eWorld Cup

teosanru

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Quote from: Altcoiner007 on August 12, 2023, 08:56:11 AM

At age 16, I attempted to participate in FIFA eWorld Cup, an annual tournament that is organized by FIFA and EA Sports. It is the world’s largest and most prestigious gaming tournament for the FIFA video game series. The tournament is open to all players of the FIFA series, regardless of their skill level.

Now as an older adult and a cryptocurrency enthusiast, it was thrilling to stumble on some blog articles on Crypto tournaments like CryptoWars, a blockchain-based strategy game that allows players to build and battle armies of digital warriors. Players purchase, trade, and battle their warriors using a variety of digital currencies. The game seem to be designed to be a fun and engaging way to learn about blockchain technology and cryptocurrency. But I imagine an event where actual cryptocurrency traders from every corner of the globe can join in the competition to compete for a grand prize. I don't know if there are crypto enthusiast out there already engaging in similar events other than Bets and casino events using Blockchain platforms, that seem to be the popular blockchain events I find around.

There are a lot of tournaments that actually happen. Yes generally they are sponsored by certain projects and they do it to create volumes and liquidity on their coin. These are generally coin specific competitions, which means you have to trade in only one of that coin to win the prize. Coming to why normal tournaments aren't popular. I think it's because first of all viewership of these things wouldn't be that much unless it's intense scalping. Secondly no trader would like to share it's trading strategy online.

el kaka22

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Even if not with real money, something like a demo would definitely get an attention. You could have like 10k fake money given to every participant, and surely some of them will just go crazy and do something insane, just go all-in or lose out type of deal, and they may end up winning.

This is why you need to make it like a fantasy league, like weekly thing. That way, if they end up making a big return once, then they will get just 1 point for 1 week, but anyone who does a good job weekly, could be making more points than them. This way someone who has been first twice a season, would lose to person who was third every single week for 52 weeks in a row. That is why a demo account fantasy league structure is great.

Peanutswar

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In the last year of 2021 NFT is one of the trends people are buying NFT to have the perks of it, and one of the trends is the Play to earn many people courage to play this because after they buy a character and win into a fight, there's a reward for example token that you can use for upgrades or else you can use to sell and converted into a cryptocurrency to fiat but now most of the projects with it is already failed or rug, only one is the Axie becomes the blue-chip of NFT. I don't trust anymore with the NFT also, in the current state of the market is not in a good way to release a project. If that so to support a sports team ideal to play gambling.

Gallar

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Quote from: Altcoiner007 on August 12, 2023, 08:56:11 AM

~Snip
But I imagine an event where actual cryptocurrency traders from every corner of the globe can join in the competition to compete for a grand prize. I don't know if there are crypto enthusiast out there already engaging in similar events other than Bets and casino events using Blockchain platforms, that seem to be the popular blockchain events I find around.

I personally have played a blockchain-based game, and in that game all the players competed using the heroes or characters provided by the game. Then there are various types of matches in the game, there are solo matches, duo matches, and if I'm not mistaken, can play with a group of 4 people. At first glance, the game looks like an MLBB game, but the difference between the characters or heroes in this game is the NFT that must be purchased first using GTHC coins. Which later if you have purchased the NFT hero can generate prizes in each game.
Then the prize if you can win the match, starting from the top 5 ranks, will be given a prize in the form of a GTHC coin.

And for the number of coins that are given when you can win a match, each character or hero that is played has a different prize, it all depends on the purchase price of the NFT hero. But for now I have stopped playing the game, because the GTHC coin has decreased in price, and I also have a busier activity now. And if you are curious about the game, the name of the game is THETAN ARENA.

Zee27

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Quote from: Dr.Bitcoin_Strange on August 14, 2023, 04:39:40 PM

Quote from: Zee27 on August 14, 2023, 03:37:25 PM

Have you at any point participated in any of these tournaments? I see some comments about KCJI and I'm really interested in participating in it since they also made provision for a demo account too. With this I believe I have nothing to lose if I participate.

I have not participated in any, probably because I've got zero interest in such tournaments. I am not familiar with the name "KCJI," but if you are dealing with any platforms like that and want to participate in the crypto tournament, always remember to also endeavour to use the amount of money that you can only afford to lose. In some trading tournaments that I have read a few of their "about," the winner is usually a trader that traded a large volume of money, so you might be pushed to use huge amounts of money so you can win, but just try to put in what you can lose and never live on the regret for the rest of the season.

Thanks for this advice. I actually read the criteria for participation on the KCGI event. Instead of using huge personal funds, I could team up with other traders to participate in the tournament. Or maybe engage in the demo trade. I'll be careful.

Mahanton

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Quote from: Altcoiner007 on August 12, 2023, 08:56:11 AM

At age 16, I attempted to participate in FIFA eWorld Cup, an annual tournament that is organized by FIFA and EA Sports. It is the world’s largest and most prestigious gaming tournament for the FIFA video game series. The tournament is open to all players of the FIFA series, regardless of their skill level.

Now as an older adult and a cryptocurrency enthusiast, it was thrilling to stumble on some blog articles on Crypto tournaments like CryptoWars, a blockchain-based strategy game that allows players to build and battle armies of digital warriors. Players purchase, trade, and battle their warriors using a variety of digital currencies. The game seem to be designed to be a fun and engaging way to learn about blockchain technology and cryptocurrency. But I imagine an event where actual cryptocurrency traders from every corner of the globe can join in the competition to compete for a grand prize. I don't know if there are crypto enthusiast out there already engaging in similar events other than Bets and casino events using Blockchain platforms, that seem to be the popular blockchain events I find around.

When it comes to trading competition then known exchange platforms do really make out that one or having that kind of event.
Take for example of these;

https://www.binance.com/en/FGT/MAY2023
https://cryptoarmy.io/contest/bibox-trading-championship-100000u-in-prize-pool/

These are already close or expired which means its over but usually they would really be launching another one.Therefore it would really be
better that you should set some email notifications or what. Trading competition is common and you could really be able to see and participate if you wanted to.
But of course not all platforms or exchangers would really be launching one, this is why it would be better to make yourself that well searched and informed via
those notifications or updates.

Dr.Bitcoin_Strange

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Quote from: Zee27 on August 14, 2023, 03:37:25 PM

Have you at any point participated in any of these tournaments? I see some comments about KCJI and I'm really interested in participating in it since they also made provision for a demo account too. With this I believe I have nothing to lose if I participate.

I have not participated in any, probably because I've got zero interest in such tournaments. I am not familiar with the name "KCJI," but if you are dealing with any platforms like that and want to participate in the crypto tournament, always remember to also endeavour to use the amount of money that you can only afford to lose. In some trading tournaments that I have read a few of their "about," the winner is usually a trader that traded a large volume of money, so you might be pushed to use huge amounts of money so you can win, but just try to put in what you can lose and never live on the regret for the rest of the season.

Zee27

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Quote from: Dr.Bitcoin_Strange on August 12, 2023, 10:58:43 AM

There is, but mostly this tournament is conducted by different centralised exchanges or some other altcoin project. With your topic, I have just scanned and searched through my notes to see if I can get a particular exchange that I am aware of conducting this trading tournament, but it seems I have deleted it already, and I can't remember the name of the exchange, but what you must know is that there are tournaments like this that exist and reward winners.

Have you at any point participated in any of these tournaments? I see some comments about KCGI and I'm really interested in participating in it since they also made provision for a demo account too. With this I believe I have nothing to lose if I participate.

aima55

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Quote from: Altcoiner007 on August 13, 2023, 09:40:25 PM

Quote from: Cryptomultiplier on August 12, 2023, 02:47:01 PM

I have only learnt about some e-tournaments, but not any that had to do directly with crypto traders. On this forum at least, I have learnt about the Roobet contest or should I say drawing/painting/visual design contest. It is for everyone that is a a participant here and perhaps as online customer.
I did a quick research and even discovered that Bitget did something similar by unveiling a crypto kinda trading competition to mark its fourth edition.

Quote

Victoria, Seychelles, Aug. 12, 2023 (GLOBE NEWSWIRE) -- Bitget, top crypto derivatives and copy trading platform, is thrilled to unveil the much-anticipated King's Cup Global Invitational (KCGI) 2023, an extraordinary global crypto spot, futures, demo trading and copy trading competition. Proudly marking its fourth edition, KCGI 2023 promises a captivating array of contests, an exhilarating roulette game, and a live session that will set the trading world ablaze. Traders worldwide are poised to compete for a breathtaking prize pool of up to 2,650,000 USDT, accompanied by an array of extravagant prizes, including a Tesla Cybersquad and a Airbus H135 helicopter.

KCGI 2023 kicks off on August 18 with the adrenaline-pumping Spot Trading Contest, followed by the thrilling Demo Trading, Futures Copy Trading, and Futures Trading Contests. Traders from every corner of the globe can either join the competition individually or form formidable teams to claim their stake of the coveted grand prize. Additionally, participants will be treated to two spectacular events—the riveting roulette game and live roulette session—where fabulous prizes, such as the latest iPhone and the awe-inspiring Tesla Cyberquad, await the lucky victors.

https://www.globenewswire.com/news-release/2023/08/12/2723962/0/en/Bitget-Announces-Trading-Tournament-KCGI-2023-with-a-Whopping-2-6-Million-and-Helicopter-Prize-Pool.html

This looks a bit more like what I have been thinking .. But what are the modalities put in place to monitor participation? Except for people trading in the demo category, those participating in the spots, futures Copy Trading and futures will they be using their own real trading funds or will the Exchange also provide each user same trading amount?

Absolutely! To jump into the competition, you'll need to use your own funds. For spot trading, captains and team members require a minimum net value of 100 USDT in spot assets during registration. If it's futures trading you're into, each team member needs at least 300 USDT. Beyond the challenge itself, there are irresistible rewards waiting. You just might be lucky to win the helicopter or Tesla. Good luck with that if you're gonna participate.

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Quote from: Cryptomultiplier on August 12, 2023, 02:47:01 PM

I have only learnt about some e-tournaments, but not any that had to do directly with crypto traders. On this forum at least, I have learnt about the Roobet contest or should I say drawing/painting/visual design contest. It is for everyone that is a a participant here and perhaps as online customer.
I did a quick research and even discovered that Bitget did something similar by unveiling a crypto kinda trading competition to mark its fourth edition.

Quote

Victoria, Seychelles, Aug. 12, 2023 (GLOBE NEWSWIRE) -- Bitget, top crypto derivatives and copy trading platform, is thrilled to unveil the much-anticipated King's Cup Global Invitational (KCGI) 2023, an extraordinary global crypto spot, futures, demo trading and copy trading competition. Proudly marking its fourth edition, KCGI 2023 promises a captivating array of contests, an exhilarating roulette game, and a live session that will set the trading world ablaze. Traders worldwide are poised to compete for a breathtaking prize pool of up to 2,650,000 USDT, accompanied by an array of extravagant prizes, including a Tesla Cybersquad and a Airbus H135 helicopter.

KCGI 2023 kicks off on August 18 with the adrenaline-pumping Spot Trading Contest, followed by the thrilling Demo Trading, Futures Copy Trading, and Futures Trading Contests. Traders from every corner of the globe can either join the competition individually or form formidable teams to claim their stake of the coveted grand prize. Additionally, participants will be treated to two spectacular events—the riveting roulette game and live roulette session—where fabulous prizes, such as the latest iPhone and the awe-inspiring Tesla Cyberquad, await the lucky victors.

https://www.globenewswire.com/news-release/2023/08/12/2723962/0/en/Bitget-Announces-Trading-Tournament-KCGI-2023-with-a-Whopping-2-6-Million-and-Helicopter-Prize-Pool.html

This looks a bit more like what I have been thinking .. But what are the modalities put in place to monitor participation? Except for people trading in the demo category, those participating in the spots, futures Copy Trading and futures will they be using their own real trading funds or will the Exchange also provide each user same trading amount?

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Quote from: Altcoiner007 on August 13, 2023, 08:38:12 AM

Not that I haven't seen any, I have noticed a few but I think those ones are basically just to increase trading volume on an exchange or a particular token trading volume. That's not more like what I am thinking in my head because with those ones, a particular whale can simply inject a huge some and manipulate the entire thing to win the game. That's what I think of trading volume competitions.

I don't think you're allowed to deposit with your money to be counted for trading volume competitions. What I know the exchanges will give fake money that used to trade for 24 hours or few days and the user with the highest trading volume or highest end of balance will win the competitions.

However this kind of trading competitions aren't nothing new.

Mauser

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Quote from: Altcoiner007 on August 12, 2023, 08:56:11 AM

Now as an older adult and a cryptocurrency enthusiast, it was thrilling to stumble on some blog articles on Crypto tournaments like CryptoWars, a blockchain-based strategy game that allows players to build and battle armies of digital warriors. Players purchase, trade, and battle their warriors using a variety of digital currencies. The game seem to be designed to be a fun and engaging way to learn about blockchain technology and cryptocurrency. But I imagine an event where actual cryptocurrency traders from every corner of the globe can join in the competition to compete for a grand prize. I don't know if there are crypto enthusiast out there already engaging in similar events other than Bets and casino events using Blockchain platforms, that seem to be the popular blockchain events I find around.

Sounds like a trading simulation game, where everybody gets a demo account and trades against each other. After a few months the traders with the highest returns win. In my country banks offer such games every year for student with quite large cash prizes. I took part in a few challenges and even won a trip to London back in the days. The thing is that without real prizes it won't attract any people. As a successful trader why would you invest your time to trade demo accounts, when at the same time you could make real money. Maybe some big crypto exchange could be found to offer some prize pool for some advertising. But as soon as there is decent money involved it also needs strong rules and oversight, as some people might try to get an unfair advantage. So, as long as the event is free, offers prices and is easy to take part in I would expect many people to join.

Altcoiner007

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Quote from: Hamza2424 on August 12, 2023, 01:46:51 PM

First of all Op, this is not a play secondly who said there are no tournaments for trading, most of the new centralized exchanges and other platforms even newly lunched tokens or coins held their trading tournaments with decent rewards and many trades take entries. These tournaments are mainly lunched for marketing. Most of the top tier assets tournaments are held in future trading which is highly risky and the competition rate you can judge traders like me and you cant take part in such tournaments due to low budget or you can say smaller portfolio. that is always used by the whales.

Not that I haven't seen any, I have noticed a few but I think those ones are basically just to increase trading volume on an exchange or a particular token trading volume. That's not more like what I am thinking in my head because with those ones, a particular whale can simply inject a huge some and manipulate the entire thing to win the game. That's what I think of trading volume competitions.

EarnOnVictor

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I certainly share in your view and I must say that I've thought of this many times and the answer coming to my head is that we will still get there. This often happens among forex brokers but not big as you described it in which all platforms would come together like a world event to compete for a prize. What also helped is the demo account possibility on the retail brokers' platform which is not so with exchanges. It would have been coming bit by bit with exchanges as well but since the platforms are wired directly by a live trading capability without a demo account, such bit in trying it by organizers and individuals is not easy.

Like I always say, cryptocurrency is still young, but with time, exchanges will definitely plan thing better. Businesses often follow the pattern they meet before a revolution takes place, it's a matter of more competition and a business starting something differently, and then others would follow.

If not for this, I would have introduced trading competition on this forum and would have done it in such a way that would be attractive to participants.

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Quote from: Altcoiner007 on August 12, 2023, 08:56:11 AM

At age 16, I attempted to participate in FIFA eWorld Cup, an annual tournament that is organized by FIFA and EA Sports. It is the world’s largest and most prestigious gaming tournament for the FIFA video game series. The tournament is open to all players of the FIFA series, regardless of their skill level.

Now as an older adult and a cryptocurrency enthusiast, it was thrilling to stumble on some blog articles on Crypto tournaments like CryptoWars, a blockchain-based strategy game that allows players to build and battle armies of digital warriors. Players purchase, trade, and battle their warriors using a variety of digital currencies. The game seem to be designed to be a fun and engaging way to learn about blockchain technology and cryptocurrency. But I imagine an event where actual cryptocurrency traders from every corner of the globe can join in the competition to compete for a grand prize. I don't know if there are crypto enthusiast out there already engaging in similar events other than Bets and casino events using Blockchain platforms, that seem to be the popular blockchain events I find around.

Crypto exchanges have local crypto trading tournaments, including Futures trading, spot trading and so on. If you are looking for a global crypto trading event, such an event simply can't exist because no one is going to invest and manage such an event. What do you think, what percentage of people are going to watch how people trade in live? Zero point something. Also, you have to keep in mind the way Bitcoin's price works, this idea of worldwide tournament just won't work, it's not a FIFA or Dota, it's not a game. Trading is not as exciting as Poker. Even Bitcoin isn't as famous as the games listed above.

Husires

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What is the relationship of these games to the blockchain? It is called a blockchain, but the games require a large amount of processing and synchronization, which makes them suitable only for computers with good capabilities and with high-capacity Internet to ensure that the output is in real time. The blockchain can be a way to make payments or money transfers between members instead of relying on payment using Google Play or credit cards, or NFT can be added as gifts and rewards for the winners, but a game cannot be built on the basis of it being a crypto blockchain game.

Popular game companies can develop tokens or NFTs that people buy from all over the world.

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Quote from: Altcoiner007 on August 12, 2023, 08:56:11 AM

At age 16, I attempted to participate in FIFA eWorld Cup, an annual tournament that is organized by FIFA and EA Sports. It is the world’s largest and most prestigious gaming tournament for the FIFA video game series. The tournament is open to all players of the FIFA series, regardless of their skill level.

It may be slightly different and quite difficult. Usually, trading competitions are actually carried out a lot, and are even still often carried out by certain exchanges or platforms. And the prizes also vary. It becomes a global trading competition or a local competition, depending on the organizer.
however, if a large area is being carried out like FIFA, the question is who will organize this competition? And will it be trusted because after all many people do trading competitions while staying private.

In addition, sports competitions will be very different from trading competitions like this. many people do trading but only to get a lot of profit every day and they will focus on that. only a few of them also conduct or participate in trading competitions at the same time. And they all still want to be private, to maintain privacy so that no one knows who they really are behind the account. So it might be a bit difficult to apply like eWorld cup by FIFA or similar

Cryptomultiplier

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I have only learnt about some e-tournaments, but not any that had to do directly with crypto traders. On this forum at least, I have learnt about the Roobet contest or should I say drawing/painting/visual design contest. It is for everyone that is a a participant here and perhaps as online customer.
I did a quick research and even discovered that Bitget did something similar by unveiling a crypto kinda trading competition to mark its fourth edition.

Quote

Victoria, Seychelles, Aug. 12, 2023 (GLOBE NEWSWIRE) -- Bitget, top crypto derivatives and copy trading platform, is thrilled to unveil the much-anticipated King's Cup Global Invitational (KCGI) 2023, an extraordinary global crypto spot, futures, demo trading and copy trading competition. Proudly marking its fourth edition, KCGI 2023 promises a captivating array of contests, an exhilarating roulette game, and a live session that will set the trading world ablaze. Traders worldwide are poised to compete for a breathtaking prize pool of up to 2,650,000 USDT, accompanied by an array of extravagant prizes, including a Tesla Cybersquad and a Airbus H135 helicopter.

KCGI 2023 kicks off on August 18 with the adrenaline-pumping Spot Trading Contest, followed by the thrilling Demo Trading, Futures Copy Trading, and Futures Trading Contests. Traders from every corner of the globe can either join the competition individually or form formidable teams to claim their stake of the coveted grand prize. Additionally, participants will be treated to two spectacular events—the riveting roulette game and live roulette session—where fabulous prizes, such as the latest iPhone and the awe-inspiring Tesla Cyberquad, await the lucky victors.

https://www.globenewswire.com/news-release/2023/08/12/2723962/0/en/Bitget-Announces-Trading-Tournament-KCGI-2023-with-a-Whopping-2-6-Million-and-Helicopter-Prize-Pool.html

Incarts

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Quote from: Iamcrypticguy on August 12, 2023, 12:38:05 PM

Quote from: Dr.Bitcoin_Strange on August 12, 2023, 10:58:43 AM

There is, but mostly this tournament is conducted by different centralised exchanges or some other altcoin project. With your topic, I have just scanned and searched through my notes to see if I can get a particular exchange that I am aware of conducting this trading tournament, but it seems I have deleted it already, and I can't remember the name of the exchange, but what you must know is that there are tournaments like this that exist and reward winners.

Certainly, you're correct about such tournaments organized by exchanges. I conducted a brief search and came across this upcoming KCGI tournament, which appears to be sophisticated.

https://www.bitget.com/blog/articles/bitget-announces-trading-tournament-kcgi-2023

Trading competitions like this is usually a win for both parties. While traders are incentivized, exchanges see engagements go up significantly on their platforms. The pool for this event is particularly interesting, something of a shift from the regular

tjtonmoy

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Such tournaments like this exist. Those are mostly held by centralized organizations like CEX or project teams. From my point of view, those are rigged. As they are centralized, I don't think they will let people do it without any interference. Maybe some of them are legit but I like to avoid them. But the main thing is, they do exist.
This happens with new projects launched by people on CEXs. But if we want a fair game of trading tournament, we will need to do it with an existing crypto. My thinking is Bitcoin. That way it will stay decentralized and there will be no interference from outside or inside. Also, traders will be able to keep their privacy secure. Most of the projects nowadays are scams. That's the reason I do not feel interested in them, let alone joining a trading competition.

Topic: Why Not A Crypto Trading Tournament Like Having FIFA eWorld Cup (Read 213 times)