The crypto market has been in a brutal downtrend, which means there is widespread fear and a strong hesitation to reenter positions. Some investors lost significant capital during the drawdown and could have less money to risk at this time. Others might simply want to see more of a recovery from the asset class before going long.
One thing is for sure, Bitcoin isn’t dead, and the crypto market always recovers. And more often than not, such moments of fear pinpoint a bottom and lead to a reversal. The emerging asset class has the potential to disrupt traditional finance and will see growth again at some point. Even the dot-com bubble didn’t bring an end to internet companies, for example.
Fortunately, PrimeXBT Contests can help crypto enthusiasts invest or even learn to trade with no starting capital required at all and be prepared for when the crypto market recovers. Even better, if you are able to compete at a high level and win a crypto reward within the Contests module, you could come away with some sizable capital to start trading with.
What Is PrimeXBT, And What Are Contests?
PrimeXBT is an award-winning margin trading platform that first got its start during the last crypto winter and helped traders remain profitable and build a strong base for the bull market breakout. The same opportunities could be ahead once again, and the platform provides access to all the trading instruments and advanced trading tools to get prepared.
The margin trading platform offers exposure to cryptocurrencies, stock indices, commodities, metals, and forex currencies, all under one roof. Traders can profit from both directions of the market and better protect capital using long and short positions, stop-loss orders, built-in technical analysis tools, and more. PrimeXBT also includes the innovative Covesting copy trading module where followers can copy the trades of high-ranking strategy managers.
The Contests module is yet another new solution from PrimeXBT. Contests is an area of the platform that hosts weekly trading competitions where traders can use risk-free virtual funds to compete for a chance to win incredible crypto rewards or exclusive prizes like NFTs.
How Contests Can Build Your Capital And Trading Career
PrimeXBT Contests is much more than meets the eye. At first glance, it appears to be a competition for traders to battle for crypto-based prizes of up to $100,000. However, Contests uses risk-free virtual funds, so traders have nothing to lose and nothing to risk and require nothing at all to start trading using the tool.
Why this matters is because not only does this mean it takes nothing at all to get started trading, but you can build your capital from nothing with no risk at all! Even more potentially valuable is the fact new or even advanced traders can use the risk-free real-time simulated market environment to learn how to trade or backtest trading strategies. With enough time, effort, and natural talent, anyone can grow their capital from nothing at all.
PrimeXBT also provides traders with the knowledge and educational materials they need to succeed and grow. In conjunction with Contests, PrimeXBT also offers the PrimeXBT Trading Academy led by expert trader Dirk Hartig. Hartig has a library of videos prepared that teach traders how to trade or help professionals execute more advanced trading strategies. There are also plenty of tutorials to help users navigate the market and the PrimeXBT platform itself.
What Contests Can Do For Capital Levels
PrimeXBT Contests let’s traders win anywhere from 1,000 USDT to 100,000 USDT depending on the stakes and scope of the competition. Global trading competitions lead to larger prizes but might have more strict requirements, such as meeting a specific trading turnover obligation. In some cases partners offer prizes like exclusive NFTs and more.
Even winning a small amount of starting capital can turn into a gold mine with the right tools and dedication to the craft. With the education, practice, and capital in place, traders can take small amounts of capital and maximize its profitability using leverage. Leverage uses margin as collateral to open trading sizes much more significant than what the capital would otherwise allow for.
Traders can then move on to trading more volatile cryptocurrencies or even traditional markets like gold, oil, or the S&P 500. Those who excel can turn a margin account into a strategy manager account and attempt to rise the ranks of the Covesting copy trading module and earn additional income from followers. PrimeXBT provides all this with a free account, offering access to Contests, PrimeXBT Trading Academy, Covesting copy trading, and margin trading of more than 100 different global markets.
Don’t sleep on the opportunity – try PrimeXBT today.
Disclaimer. This article is paid and provided by a third-party source and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing funds in any company. CoinIdol shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any such content, goods or services mentioned in this article.
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