Back in January 2020, Phemex released their first edition of a BTC Puzzle, with a prize of 2 BTC. Now they are coming back for round two, with a price twice as big.
The #PhemexChallenge (or #PXC) started on Thursday, September 3rd, and it will go on until the end of the month. Throughout this period, Phemex will be releasing numerous clues, riddles, and puzzles every two days across their social media channels. Once you find a puzzle, solving it will lead to a unique answer. The combination of all correct answers will grant the winner access to the wallet containing the prize. Even though it may seem confusing at first, it will all come together in the end to reveal the final piece of the puzzle.
How does the Phemex BTC Puzzle work?
So far, 6 puzzles have been released.
On September 3rd, Phemex published the first riddle of the 4BTC Phemex Challenge on Twitter:
“When trading with leverage, there’s more than meets the eye.”
This riddle can refer to numerous things – risk, margin, or market volatility. Or it could be hidden in their leverage trading page. Your job is to figure it out.
2 days later, on September 5th, the second clue was posted on Facebook. This time, users had to complete a few microtasks to participate. Once you completed all tasks you were either sent or redirected to this “Thank you” note:
As a freebie to all those participating, I believe I have solved this one. A quick search on Google revealed that all of the cryptic words and messages contained within this image refer to “cotton”. It is unclear if this is the final correct answer without knowing the full context, but I am confident this is at least on the right track.
As you can see, Phemex will publish a clue, riddle, or puzzle every two days, until the end of September. And they can come in any form, through any medium. For example, the 3rd puzzle was included in their newsletter. But if you were not subscribed, don’t worry. You can still check it out in their archive.
The 4th puzzle they released is hidden somewhere in their 2nd episode of Phemex Crypto Talk, the 5th puzzle is likely within their new youtube video, and the 6th or latest puzzle was posted and remains pinned in their telegram channel. Make sure to constantly monitor Phemex’s Twitter account as they often post hints about where the puzzles are located or hidden at.
Once the final puzzle is released, competitors will have one month to solve all the puzzles and attempt to retrieve the prize from a BTC wallet. If nobody succeeds, 1 BTC will be deducted from the wallet each month until the prize is claimed or until the BTC is gone.
The total prize of the Phemex Challenge is worth 4 BTC. 1 BTC will be awarded to the winner in the form of a trading bonus on their platform, and the other 3 BTC are currently stored in the following wallet:
Once the puzzle is solved, the winner will have full access to the wallet and will be able to take ownership of the 3 BTC. For the extra 1 BTC trading bonus, all you have to do is contact Phemex and a trading bonus will be deposited into your account.
Who is Phemex?
Launched in 2019, Phemex is the fastest cryptocurrency and derivatives exchange. The platform provides both contract and spot trading services, being one of the first exchanges that operate based on a low-cost membership and allow its users to spot trades with no fees.
Phemex is also one of the few exchanges that provides a non-crypto GOLD/USD contract, and their perpetual contracts allow users to trade cryptocurrencies with up to 100x leverage.
Their mission is to empower everyone to trade simply and manage risk efficiently.
Despite being a new platform, Phemex is always setting new standards for the exchange industry, serving as a helpful & trustworthy platform for both new and experienced traders.
To participate in the 4 BTC Phemex Challenge, make sure to follow them across all their communication channels.