If you are looking to invest or trade in Bitcoin, it might be worth starting with a Bitcoin demo account first. To learn and to understand how the online trading platform functions. Later, when you are confident with the progress and success of your demo account, then you can think of getting in the real game with real money.
Below, you will find the Top 10 platforms to make a Bitcoin Demo Account to Practice Trading:
eToro is operating since 2007. It is your best choice to trade Bitcoin virtually as they pioneered Bitcoin trading via CFDs in 2013. Bitcoin is the top cryptocurrency on their trading platform, which ensures that they understand all about Bitcoin.
It is easy to use, you can read articles for research on the platform itself, and it’s easy to sign up. You can get registered on the website without having to download the app. You can form your Bitcoin Demo Account from anywhere in the globe on eToro.
2- IQ Option
IQ Option was developed in 2013 and now has 48 million registered clients. It has a specific platform for the demo accounts. What makes it unique are the advanced tools that clients can use. It is also available on mobile devices which makes it convenient to use. You can start your practice with $1000 in virtual money. The website supports 22 languages and has a great customer support service.
Founded in 2019, StormGain is the youngest on the list. Its platform allows users to customize their dashboards as they require.
It is user-friendly and also keeps track of market trends and price movements. You can access the website from any web browser or you can download its free-trading app too. StormGain focuses on Bitcoin mining applications as well. It will mine the Bitcoin for you and you will gain a mining reward after every four hours. If you have any problem their live support team will help you solve it.
Libertex has been operating since 1997 and has over 2.2 million registered clients. With more than 20 years of experience, their platform is trustworthy. To add to its fame Libertex is the official trading partner of Tottenham Hotspur, a premier league team of European Football.
With Libertex you have the option to trade on MetaTrader 4 and 5. The platform has a fast execution system and several tools for efficient trading. Libertex gives you 50,000 USD as virtual money, to practice in your Demo Account. Opening your demo account would not take more than a minute with Libertex.
Binance was founded in 2017, it is also known as high-frequency trading software. The name is a combination of Bitcoin and finance so the main cryptocurrency is Bitcoin. Binance puts extra effort into training and educating the newbies. They have an educational tab called Binance Academy that offers several courses on Bitcoin trading. Signing up to this broker is quite tricky though. It has a testnet page that evaluates your knowledge about trading before signing up. The website is 24/7 available and the customer support system has a live chat system for resolving problems. The virtual money given for practice is $100,000 on Binance.
Plus500 is a leading CFD provider that allows its clients to trade the world’s most popular assets. This broker’s demo account is also a good way to learn to trade on cryptocurrency. Plus500’s interface is simple and easy to use. There are no distractions like pop-up menus. It has all the basic tools necessary to learn to trade. There is an order entry window that provides a summary of the trade. Overall Plus500 is a great choice for beginners who want to hone their skills to the next level.
PrimeBit allows users to short-sell Bitcoins with up to 200x leverage. The platform has MetaTrader 5 which is a good choice for a trading application. PrimeBit charts are easy to use, comfortable, and provide several tools for trading. The demo account comes with in-built technical indicators like Simple moving averages, Relative Strength Index, Ichimoku, Bollinger Bands, etc.
Bitmart is a popular trading platform that has over 2 million clients. Its features include trading, staking, and lending services to earn rewards. The interface is designed for beginners, with leverage options too. The charts are provided by TradingView and the trading environment has the same appearance as a live trading account. It sports the market with over 90 crypto pairs against BTC, ETH, etc. The BitMart app monitors the portfolios and trades of its demo account holders.
Nominex has an easy interface, cold storage wallet, excellent liquidity, resources to help new traders learn the basics, and the trading commissions are close to nil. Nominex.io has free educational courses that have 10 modules aimed to help the new folks learn about the crypto markets in detail. After completing the course, you can open a demo account and practice trading there. Beginners can learn to trade on a real exchange with zero risk, understand price trends, test trading theories, and practice at the same time.
BitMEX is one of the largest and most widely used crypto margin trading platforms in the world. At first, the interface looks a bit outdated as compared to the above platforms but its services are really nice. BitMEX is a premium crypto trading service that facilitates demo trading using a testnet through its own portal. The interface could seem a little complicated at first, especially for beginner traders. So BitMEX might be more suited for users with a basic understanding of trading, leverage, position-sizing, and risk management.
For traders who are looking for easy-to-use Bitcoin demo trading platforms with good trading tools, the above 10 companies would be the best to go with. With a user-friendly interface, you can make trading strategies of your own on the demo accounts, understand risk management and earn profits. So, hone your skills before starting the real trade. It’s not about making money at first, but avoiding losses in trading any commodity in the beginning.