INTERVARSITY BITCOIN TRADING COMPETITION


Are you interested in trading for the first time? Or an expert looking to test and challenge yourself? UNSW Forex Society would like to welcome you to our first international intervarsity trading competition, where you can compete for your share of a total prize pool of over $3000!

This competition is an opportunity for you to learn about trading cryptocurrency first-hand with live capital and compete with students internationally!


For 2019, the competition will comprise of 10 societies from across Australia and New Zealand, including:

University of New South WalesUNSW Forex Society

Macquarie UniversityMacquarie University Business Society

University of Technology SydneyUTS Investment Society

University of New South WalesFMAA

University of SydneyFMAA

University of MelbourneFMAA

University of QueenslandFMAA

Monash UniversityFMAA

Curtin UniversityCurtin Wall Street Club

Auckland University of TechnologyAUT Investment Club


The Intervarsity Bitcoin Trading Competition will run for one week, from the 4th of March Monday 9AM to the 11th of March Monday 9AM.

The winning prizes are as follows:

1st Place: $1000!!

2nd Place: $500

3rd Place: $300

4th Place: $200

5th Place: $100

In addition, the university society with the highest accumulated profit across their active members (>20 trades) will receive a $1000 cash prize that will assist the society with running events for students.

Registrations are open till the 1st of March with only 100 spots per university society so do not miss out! Follow the link below and sign up now!


FAQs

Is there a cost to enter?

No, entrance to the competition is free.

When does the competition start and end?

The competition runs for 1 week from 9am 4th March to 9am 11th March.

How much funding will I get in my account?

Each account will be funded with 0.001 Bitcoin.  You will have a maximum of x10 leverage thereby giving you a maximum position size of 0.01 Bitcoin.

What is leverage and can I use it?

Leverage is a multiplier that allows you to increase your position size based on a fixed funding amount. For example, if your account was funded with 0.001BTC and you used x10 leverage, all gains and losses are multiplied by 10.  So a 1% movement in price will result in a profit or loss of 10% on your account. On the other extreme if you used 100x leverage, a 1% price swing against your position would result in your account being wiped out.

We recommend using a minimum of x2.5 leverage on every order as orders below a value of 0.0025XBT are regarded as Spam by the BitMex system and don’t appear in the order book.  https://blog.bitmex.com/notice-regarding-spam-orders/

How can I track my performance?

A leaderboard showing the top 5 individual traders plus university will be updated at 6pm from Monday to Friday on our sponsor’s website.

How can I sign up?

The registration link is here and close at 11:59pm on the 3rd of March.  Please keep up to date with this event by clicking on our Facebook event here.

When will I receive my login details?

Participants will receive their Bitmex login details via email on 4th March at 9am.  Once you receive these details you will be able to start trading immediately.