Now that bitcoin is once again trading over 300 many feel there is good reason to hang onto a long position in the currency. But if you have bitcoins, wouldn’t it be great if you could hold onto them while simultaneously using them to pull in even more profit? First Global Credit, a digital economy investment company is hosting a trading competition on their platform to allow new traders to experience their services and capture the profit opportunities available in the worldwide stock markets using the value stored in their bitcoins. Traders interested in pitting their skills against other traders can sign up now for a free demonstration account to familiarize themselves with the platform so they will be ready for THE 100 BITCOIN TRADING COMPETITION, which begins on November 23, 2015.
COMPETITION DETAILS
The competition, runs on First Global Credit’s paper trading platform. The platform simulates both stock market trading as well as trading bitcoins against fiat currencies.
Each player is given a competition account loaded with 100 practice bitcoins and has free rein to choose from over 200 stocks and 4 fiat currencies to trade over a period of four weeks. To spice up the competition, those 100 bitcoins can be leveraged up to 5 times their value on the Stock Trading Platform and twice their value on the Currency Switch Platform leaving room for big wins and big reversals too. Competition profits are returned to the contestants account in bitcoins and at the end of the competition the three traders with the most profits will win a live fully funded trading account and entry into First Global’s Star Trading Program. Each live prize account will give the winner the ability to trade the value of up to 10 bitcoins worth of stock and currencies. But as time goes on, members of the Star Trading Program make more money while their ability to trade more stock increases and they receive more profit.
The first winner of the victorious three will be the trader who makes the most profit from stock trading on the competition platform. The second winner will be the person who makes the most profit from trading bitcoins against fiat currency. The final prize winner will be talented trader who has the largest bitcoin profit from trading both stocks and currencies. And that is one of the unique points of the First Global Credit platform. While deposited bitcoins are used as margin to finance stock trading, they can simultaneously be traded against fiat currency without closing stock positions.
The paper trading platform mirrors the live platform using real time market prices and the same fees, so the competition emulates a real trading environment. Marcie Terman, Communications Director commented “There’s another reason First Global Credit is interested in finding the best and brightest bitcoin traders. Competition winners will join winners from previous competitions in our Star Trader Group.” She continued, “Post competition, as Star Traders amass profits over time and there will be additional benefits that we will bring on line in 2016.”
PREVIOUS BITCOIN COMPETITION WINNERS
Aaron Welton, a winner from August 2015, is a consultant from the United Kingdom who had no prior experience in trading stocks and currencies. This was Aaron’s second competition with First Global Credit. At the end of the four week competition, Aaron had grown his original portfolio investment to a profit of approximately 624 bitcoins. “The prize was an incentive both times I entered.” Aaron said in an interview following the August competition. “I was disappointed with my performance in the first competition so upon entering the second time I wanted to be prepared. I understood trading Altcoins, I wanted to have the same level of knowledge about stocks and stock trading.” Read more…
Also declared a winner in the August competition was Barry Goers, a professional hockey player from the United States. Barry posted a profit of approximately 140 bitcoins during the four week period. Barry is extremely positive about the future of bitcoins and sees the potential of using them to generate a return. He says, “It is very important that bitcoin has all of the capabilities of other currencies. Now, people can actually invest with their bitcoin, and really use it to grow their money instead of simply hiding it in a cold wallet or something.” Read more…
Visit the First Global Credit Facebook page or follow them on Twitter to keep tabs on the best players and post your comments about how your trading strategy is going.
Full details of the competition rules are available on the First Global Credit website (add URL). Potential contestants are encouraged to create a paper trading account immediately to begin practice trading prior to the actual competition start date by visiting the competition page and clicking on the registration link.