Cryptocurrency trading is quite challenging. Therefore some crypto trading platforms provide their users with free demo money to make the first steps easier. Here is the Top-5 of them.
Cryptocurrency price prediction isn’t something you can just get into straight away. It comes with a multitude of challenges that you need to be aware of because you can start putting in your real money. That’s why many crypto trading platforms give you free demo money when you sign up.
This doesn’t only allow you to understand the user interface and learn how to trade on the platform but also gives you the opportunity to make yourself aware of the dynamics of the cryptocurrency market. You can develop an understanding about volatility, technical analysis, and general trading rules without risking losing your real money. Here are 5 best crypto trading platforms that give you free demo money.
AlphaPlay
AlphaPlay is a unique platform as it combines crypto trading and fun into a single platform. It’s a blockchain-based service that allows users to bet on real cryptocurrency prices to earn money. On AlphaPlay, every user gets $1,000 of demo money without going through any registration process. This helps them to learn the interface as well as evaluate different betting strategies.
The platform is selling ALPHA ERC20 tokens which allow users to receive 6% of the turnover in terms of loyalty bonuses while the recommendation program will distribute 4% of the turnover among players who play with their friends and attract new players. The remaining 90% is distributed as prizes. All of these disbursements are made using smart contracts to keep it fair and transparent.
eToro
It is one of the largest cryptocurrency trading platforms that follow the social model. It means that it allows cryptocurrency investors to copy the trades of successful traders. Users can also learn from the vibrant community that posts insightful status updates and technical analyses.
The trading platform also has its own mobile application which makes trading easier on the go and you don’t need to stay glued to your computer screen all day long. With more than 12 million users, eToro is one of the top social trading platforms for all types of traders – from beginners to seasoned investors.
Plus500
On this digital asset trading platform, you can demo trade a variety of cryptocurrency CFDs including the most popular ones such as Ethereum, Bitcoin, Litecoin, Neo, Cardano, Ripple‘s XRP, EOS, and more. The platform has a user-friendly interface without any distractions where you can easily find the listed crypto pairs you are interested in. There are charts available that enable users to see patterns and trends to make informed trading decisions.
You are automatically directed to a demo account so you can learn the ins and outs of crypto trading without putting your real money at risk.
StormGain
It is a new crypto trading platform that gives users the opportunity to trade with up to 200x leverage. Beginner traders can use the demo trading account which contains all the features and functions of the real account. Users can see their positions, wallet balance, live price charts, and a variety of cryptocurrency pairs on the dashboard. You can also add patterns and trend lines to lay out your strategy and execute better trades. With an easy to user interface and a range of modern features, the trading platform is ideal for beginners.
ByBit
Offering a modern and intuitive user interface, ByBit is another crypto trading platform for all types of traders. It offers a demo trading mode where users can set up a testnet to learn cryptocurrency trading. A testnet is like a crypto blockchain that can be used for testing trends and patterns allowing traders to test with real cryptocurrency prices instead of using a simulated environment. Real price volatility and movement are better trading teachers as compared to simulations.
Final Word
Cryptocurrency trading can be quite a challenging experience especially if you are just starting out. You need to be wary and cautious to ensure you don’t lose your hard-earned money due to some misstep. That’s why many top crypto trading platforms give you the option to learn using a demo account and money so you can get used to the market dynamics as well as the platform.
Moreover, different types of platforms have different unique selling points. From social trading to betting on crypto prices, you have the option to choose your preference.
Cryptocurrency investor, journalist, analyst, and growth hacker. I cover crypto, blockchain, crowdfunding, and education.