Trader traded $12 million at Binance and wins competition

Negotiations considered volume with trading pairs using the Brazilian Real. First place will earn 12 thousand BUSD.

A cryptomaniac trader who traded $12 million at the Binance brokerage house ended up winning a competition. The trader will get his prize in stablecoin BUSD, of 2500 units.

With the arrival of Binance in Brazil, the broker has prepared news for traders in the country. One of them was the „BRL Trading Pairs Competition“, which took place from December 14th to 20th.

To participate, Binance’s clients had to trade cryptomoedas with Brazilian Real pair. The top 20 best ranked players were eligible for the brokerage house prize, which will pay at stablecoin Binance USD (BUSD).

The best ranked will win 2500 BUSD, which in direct conversion to the dollar today will give R$ 12,900. The runner-up, who traded $6 million, in the cryptomeda USDT, will also win 1500 BUSD (about $7,790).

The identity of the traders was not revealed by Binance, who shared the result on Monday (28). The traders will receive the prizes in their brokerage account.

The Binance competition moved a total of more than $40 million in the days it worked. In other words, the cryptomaniac traders that traded with real made a volume of more than $ 200 million in a few days.

It is worth mentioning that Binance requires a validated registration for trading with BRL. That is, Brazilian traders may have to declare the prize received to the IRS if they withdraw the values.

Anyway, the winners will have a prize at the end of the year of Binance which, he said in a note, have already sent the more than $ 46,000 to the accounts of the winners. The Bitcoin trade is a risky strategy, which must be done with great care and risk management.