Cryptocurrencies

World Series of Crypto Trading

 

I’ve just entered the World Series of Crypto Trading

and I suggest that you enter it too.

 

From https://wsoc.io

The World Series of Crypto Trading (WSOC) takes place on the Waves platform. I love platform coins, but as much as I want to, I can’t hold them all. WAVES is a cryptocurrency which has so far (unfortunately) escaped being added to my portfolio. In hindsight I should have bought WAVES long ago, instead of several other unsuccessful coins which I did buy.

One of the nicest things about Waves is that it has its own DEX, and that is where the WSOC trading will take place. I don’t think I need to emphasise to you just how important DEXs are becoming, but let me say a few words on that anyway. Centralised entities are starting to panic about crypto, and with panic comes regulations. Just yesterday I read about the IMF trying to coordinate a global response to crypto (Ha ha! I wish them luck!). While ultimately the governments and IMF will fail, they can make things tricky for us by regulating centralised exchanges. Our best defence against that is to move over to DEXs – to places where we hold our own private keys and where we can trade anonymously. Waves is one of the best DEXs available to us so far. More DEXs will soon be available. The sooner we all start using DEXs for most of our trading, the better.

The WSOC is all about trading. I am NOT a trader, but I know how to trade and I think that this is a good chance to enhance those seldom used skills of mine. It’s also an opportunity for me to benchmark how good (or bad) a trader I am. I’m not entering to win, I’m entering to learn and to enjoy the experience. With 2470 people already having signed up (at time of writing), it’s doubtful that I will come bone last, but even if I do, I’ll still have learnt something.

The WSOC is free to enter, so you literally have nothing to lose by doing so. Each trader is given virtual funds to trade with – the sum of 100 000 dUSD. All those who finish the competition with a balance of more than 100 000 dUSD will share in the prize pool of 3000 WAVES, in proportion to their profits. WAVES is worth $2.36 per coin today. If you are lucky enough to finish in the top three, then your prize gets much bigger: 3rd place wins 2000 WAVES, 2nd place wins 3000 WAVES and 1st place wins 5000 WAVES. In other words: consider this a free entry to a crypto competition which will help to build your skills and in which you could win over $10 000. I think that makes it worth attempting!

Applications have been open since 19 May and you have until 19 June to sign up. Signing up is easy: you need a WAVES address and an email address. To get a Waves address, I chose to install the Waves Keeper browser extension (the link is on the Waves Platform site) and I can happily report that it is very easy to use. On the Waves site click “Get Started” -> “Import Accounts” -> “Waves Keeper” -> “Install” and you will be prompted to install the extension for your browser. Firefox, Chrome, Opera and Edge are all supported. You can go directly to the Waves Keeper site by visiting https://wavesplatform.com/products-keeper. I intentionally sent you the long way round so that you could visit the Waves platform along the way – it will be the platform you need to sign into in order to trade in the contest.

Once you have the Waves Keeper Extension installed, you create a password and an account name and then you copy down a 15 word seed phrase and your wallet address. Put that address into the WSOC site along with your email, and you’re ready to roll!

 

From https://wavesplatform.com/products-keeper

 

The competition starts on 20 June and runs for a week (until 27 June). Trading rules are not restrictive, you can even use bots if you choose to. There will be five trading pairs used in the contest: dWAVES/dBTC; dWAVES/dUSD; dBTC/dUSD; dETH/dUSD and dETH/dBTC – so basically WAVES, BTC, ETH and USD equivalent trading pairs. That’s a nice workable number of assets to juggle. At this stage I have no idea what my own strategy will be, I need to start thinking about that. I’ll probably split my funds and run a few different strategies, as I said earlier, for me this will be more about learning than anything else.

There is more to Waves than just a DEX. I would like to see some of the properly built smaller platforms get more attention. Ethereum tends to dominate everything, EOS is more well known than it deserves to be, Cardano is glorified vapourware which produces nothing – and yet those are the platforms which we find in the top market cap positions. It would be healthy to see crypto enthusiasts looking more seriously into other less popular platform projects like Waves, Icon, Lisk, Holochain etc. Hopefully this contest can help to popularise Waves and the work that it is doing on Web 3.0.

If you would like to join the WSOC, then head on over to https://wsoc.io and sign up.


From https://wsoc.io

 

Hope to see you in the contest!

Yours in crypto

Bit Brain

Featured image from https://wsoc.io

“The secret to success: find out where people are going and get there first” 

~ Mark Twain

“Crypto does not require institutional investment to succeed; institutions require crypto investments to remain successful” 

~ Bit Brain

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