Joining the derivatives segment starts with a competition for individuals and teams put on by a global copy trade platform.
While some investors have done well buying and selling cryptocurrency assets, the sad reality is that nearly 90% of traders lose money. Losses typically occur for several reasons. It may be a lack of knowledge for beginners, and for intermediate or advanced traders, it may come down to a lack of time for market monitoring.
To solve this, investors often look to copy trading. Copy trading allows beginners to profit by copying other trades, eliminating the need to study the market. Additionally, intermediate or more advanced traders can take advantage of the simplicity these platforms offer, reducing time spent viewing charts.
Recognizing this, Bitget has since gained popularity as the world’s largest crypto derivatives copy trade platform, supporting futures and spot trading. Over the last three years, the platform has launched three flagship products, including USDT-Margined Contract, One-Click Copy Trade, and Quanto Swap Contract. Together their platform aims to provide customers from around the globe a liberal, ultimate, and fair trading experience, upholding the mission, “Better Trading Better Life.”
Although the platform was founded in Singapore, the company has faced a hyper-growth phase with continued global expansion into Japan, South Korea, Russia, India, Malaysia, the Philippines, and many areas of Europe. The team has since announced their first-ever worldwide trading competition known as the King’s Cup Global Invitational (KCGI), a unique opportunity for investors to prove their abilities.
Competition on the global scale
This trading competition was announced in response to the platform’s rapid development as a global business, with the intent to attract more international users, increase brand awareness and further their impact in the derivatives segment. The invitation to attend the global competition is extended to any trader looking to win digital treasures.
The competition occurs on an annual basis, the theme for this year being “Defend the Earth against Pixel Invasion.” Along with the theme, announcements for the trading competition include a story set in the era of Etheric civilization. The story goes into more detail, painting a scene six light-years away, where quantum civilization plans to launch an attack on Earth in search of a better living environment.
In this era, the most sophisticated weapon can transform entities into pixels once said entity comes into contact with pixel particles. Given the situation, humans have no choice but to defend their homeland. As a result, an anti-pixel coalition including race car drivers, gaming masters and others attempt to fight against quantum civilization.MORE INSIGHTS FROM BITGET HERE
With this story in mind, the details of the contest can be further broken by the team, who shared, “the competition includes Team Battle and Individual Competition with a total prize pool of up to 100 BTC.” With the intent “to encourage more regular and new users,” the team is also providing “additional events such as City Assembly, Lords Assembly, Airdrop for All, Lucky Lottery, Post-Competition Bonus and Early Bird Benefits, offering a total of 5 million BGB.”
The team (territory) battle will divide ten teams with the highest profits in more detail. The top 7 captains in order of revenue will also be eligible to receive a customized nonfungible token (NFT) featuring Silicon, Gold, Earth, Wind, Water, Fire or Thunder. Users will be divided into Super Leaders and SuperHeroes in the individual competition, as determined through profit rankings.
The competition period will occur from Oct. 30 to Nov. 20 at 10:00 am (UTC+8). However, participating users must register between Oct. 20 and Nov. 4 at 10:00 am (UTC+8).
Creating contract products
As the platform continues to grow, Bitget’s mission is to cultivate the derivatives competition to create the best products. Their roadmap highlights a continued focus on their three core contract products while improving innovations and launching at least one innovative product each year.
In addition to trading competition such as KCGI, product development will help ensure Bitget is expanding its market share globally, carrying out localized operations in various countries, and continuing to push the boundaries of blockchain technology.
read more: Bitget Copy-trading 101 (for copiers)