Singapore-based cryptocurrency and derivatives exchange Phemex, just announced a 4 BTC competition! Dubbed The Phemex Challenge (#PhemexChallenge #PXC), the event consists of a series of puzzles or riddles that will be hidden across all of their social media platforms, websites, and communication channels. The first puzzle will officially release this Thursday (September 3, 2020) at 12:00 PM UTC.

To participate, simply follow and join anything that is Phemex-related. Every two days, Phemex will release a new hidden puzzle somewhere. Finding and solving the puzzle will lead to a unique answer. The first one to solve all puzzles correctly will gain access to a wallet containing 3 BTC. The winner can then contact Phemex to get an additional 1 BTC trading bonus on their platform. 

To help users locate these puzzles, Phemex will often tweet out a clue when a new challenge is released. However, make sure you are subscribed and registered on every Phemex channel as there is no guarantee that clues will solely come through Twitter. Once you locate a puzzle, deciphering it to arrive at the correct answer will require a variety of skills.

If you believe you have the correct answer, simply move on to the next challenge. Phemex will announce when the last puzzle is released and provide more details at the time. 

Anyone can monitor the prize money stored in this wallet address: 

395pH5TSR4i8jJGdyhnHR5qvMKznEQ2XxF

Check out their official announcement.

This isn’t the first time this young exchange has offered an exciting competition with high stakes. In fact, back in January of this year, Phemex released its now-famous Satoshi Puzzle. The maze-like portrait recreation of the father of cryptocurrency contained all the clues and hints needed to piece together a private key. With it, the winner had the ability to transfer 2 BTC out of a target wallet. The event brought the community together in pursuit of a common goal while teaching people the fundamentals of public key infrastructure and cryptography.

Although the specific skills needed to solve these new puzzles still remain a mystery for now, Phemex is confident that the event will once again bring people together and encourage users to learn new skills.

Launched only in November of 2019, Phemex is already within the top 10 derivatives exchanges according to coinmarketcap.com. The exchange offers perpetual contracts for many popular cryptocurrencies with up to 100x leverage. It is also one of the few to provide a non-crypto GOLD/USD contract. In March of this year, Phemex also began offering zero-fee spot trading services. With premium memberships costing as low as $5.8 a month, users can spot trade a variety of cryptos without being subjected to the standard 0.1-0.5 % trading fees that most of their competitors charge. To learn more visit Phemex.com

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