Korbit, the South Korean cryptocurrency exchange, recently introduced its inaugural league for virtual asset investment, set to commence between midnight on November 26 and 27. This marks a significant milestone for Korbit, and all account holders are invited to partake in this groundbreaking event.
Prospective participants can join the league by using the mobile application. They simply need to click on the “Join League” button. Additionally, they must consent to the collection and disclosure of their personal details.
The investment league operates as a weekly competition, spanning from Monday (00:00) to Sunday (24:00). It evaluates participants according to their “realized return” in Korean won (KRW), indicating the profits obtained from cryptocurrency investments.
To be eligible for ranking, participants must execute cryptocurrency sales amounting to at least KRW 100,000 (approximately $77.4).
Korbit’s Inaugural League: Rewards, Social Trading, and Real-Time Monitoring for Investors
Korbit intends to award KRW points to the top 100 performers on a weekly basis. These points are redeemable for crypto asset investments on their platform.
The first, second, and third-place winners will receive KRW 200,000, KRW 100,000, and KRW 50,000, respectively. Furthermore, all participants within the top 100 will be granted KRW 5,000 each.
The league presents an exceptional opportunity for social trading, enabling investors to scrutinize and replicate the strategies of the market’s leading traders. Users can inspect the profiles of the top 100 traders to observe the three cryptocurrencies these traders engaged with during the week.
Furthermore, Korbit users have the capability to monitor their cryptocurrency holdings in real-time. They can also assess their total realized return, a calculation spanning from the beginning of their trading journey on Korbit to the current moment. This holds true regardless of their participation in the league.
Korbit’s Crypto League: Incentives and CEO’s Vision for a Vibrant Community
To stimulate active involvement, Korbit initiated a pre-event, running until November 26. The first 10,000 investors consenting to the collection and disclosure of personal information will instantly receive KRW 1,000.
Furthermore, the initial 1,000 investors selling crypto assets worth KRW 100,000 or more within the league’s first four weeks will receive an additional KRW 5,000.
Oh Se-jin, Korbit’s CEO, emphasized the authenticity of this competition, involving real investments rather than simulations. He expressed a strong desire to host such events regularly.
The goal is to foster a community where investors not only compete for returns but also share valuable information. Oh believes this approach will contribute to nurturing a healthy culture of cryptocurrency investment.