The 7 best risk-free cryptocurrency trading simulators

Cryptocurrency trading is a notoriously risky venture as the state of the market is ever-changing, with assets worth nothing one day and hundreds of dollars the next. Plus, there are now thousands of coins and tokens out there that you can invest in, which can easily make you feel overwhelmed. But do not worry. There are ways you can practice trading cryptocurrencies before investing a single penny: through cryptocurrency trading simulators.


So which cryptocurrency simulator is the best?

CryptoParrot allows you to trade using fake funds so that you can learn more about the mechanics of trading and the pitfalls to avoid. When you create a CryptoParrot account, you are given 100,000 PlayUSD, a fake virtual asset that you can use within the simulation.

CryptoParrot allows you to view the prices of cryptocurrencies, as well as their recent growth statistics, so that you can understand the current trajectory of a given asset. Additionally, you can choose to display the best-performing or worst-performing cryptocurrencies on your home page, so you are aware of which ones to avoid or invest in.

If you want to buy cryptocurrencies on CryptoParrot, you just need to click on an asset and enter the amount you want to buy. You can view your past trades using the sidebar (provided you verify your email address) and even consult CryptoParrot’s trading guides.

CryptoSpaniards is another great option for potential cryptocurrency traders who want to get more used to the market before investing their funds. When you create an account with CryptoSpaniards, you can choose how much you want to start with, which are presented as fake US dollars. Then, you can view the best cryptocurrencies on the market (along with their recent growth), as well as the most successful simulation traders on the site right now.

It is super easy to buy or sell assets using the CryptoSpaniards simulator and you can visualize your activity to reflect on your trading habits and behaviors. There is also a handy forum where you can post to connect with other people who use CryptoSpaniards. Who knows, you might learn something priceless about the market!

Bitsgap provides users with useful bots that allow them to trade automatically and without human intervention. However, Bitsgap also offers a demo mode, where you can trade without risk, using fake assets.

Bitsgap’s demo mode is very similar to a typical exchange page, with a central Bitcoin glow price chart and real-time order book. However, if you are very, very new to cryptocurrency trading, this can be a little overwhelming, as there are many elements present that you may not understand yet. Hence, the Bitsgap demo trader may be more suitable for slightly more experienced traders.

But you can still buy and sell assets using the Bitsgap demo trader. The process is just a little more complicated.

Bitcoin Hero is a super simple way to simulate a basic trading situation. Using Bitcoin Hero, you can trade Bitcoin, Litecoin, Ethereum, and Dash, with real-time price charts offered for all four assets. When you buy a certain amount of a certain coin, you can see how the price changes in relation to the price of the asset at the time of purchase. Also, when the price changes, you can see how much you are gaining or losing at the top of the page.

You can also sell one of the fictional assets available using Bitcoin Hero and see if you would have made a profit or suffered a loss if you had waited longer.

Like Bitcoin Hero, Bitcoin Flip offers a basic trading interface suitable for cryptocurrency beginners. But Bitcoin Flip offers a much larger selection of fictional assets, including those offered by Bitcoin Hero and many others, such as Monero, Cardano, Neo, and XRP. After selecting which asset you wish to purchase, you can see how you will gain or lose funds from your purchase in real time.

Additionally, you can choose to sell a select amount of an asset to see if you have sold at the right time. You can calculate your overall losses or gains by checking the total amount at the top left of the page.

Bitfinex is a popular decentralized exchange that offers a “paper trading” feature for those who want to practice their trading techniques. The process of creating a Bitfinex fictitious trading account takes 5-10 minutes and involves the following steps:

  1. Create a normal Bitfinex exchange account
  2. Create a sub-account by going to Secondary accounts section in the drop-down list of your account in the upper right corner of the page. Here you can set up a secondary account, which you will need to verify via email and Google Authenticator or Fido. Make sure you tick the Card trade account box before creating your account.
  3. After accepting the terms of service, you will need to set up two-factor authentication on your sub account using Google Authenticator or the Fido app. You can find the steps for this at the bottom of your sub-account homepage. This will allow you to access the fake trading page.

Bitfinex’s Paper Trading feature is very similar to a legitimate trading page. You have candlestick price charts, order forms, tickers, and of course the ability to buy or sell fictitious assets. The dummy assets used by Bitfinex have the word “TEST” in front of the typical asset name, such as TESTBTC or TESTUSDT. Using Bitfinex’s Paper Trading simulator, you can only trade in Bitcoin, US dollars or Tether.

This type of trading simulator is quite complex and requires some knowledge of how trades work, similar to the Bitsap simulator.

eToro provides a trading exchange for both traditional and decentralized assets, along with a demo account for cryptocurrency traders who want to learn a little bit of the basics before getting started. For starters, you are given $ 100,000 in fake cash, which you can use to purchase a range of different cryptocurrencies. You can then sell your assets in a simulated trading environment to learn the tricks of the trade.

You can also post from your account and connect with other eToro traders to share your experiences and learn more about the different markets.

The only downside to eToro’s demo mode is that you have to create an eToro account and provide a lot of information to do it successfully, such as your home address and phone number. So, if you’re not looking to divulge any private information, try one of the other simulators listed here that don’t require any kind of login.

Find out how to trade cryptocurrencies with practical money

If you want to start trading cryptocurrencies, you don’t need to spend money to gain experience. Using the trading simulators listed above, you can buy and sell fake assets in a risk-free environment, allowing you to understand how the market works and what you should avoid doing. There is nothing wrong with learning a little before investing!

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