While the vast majority will never be profitable on a crypto trading platform using real funds, to find out if you have what it takes is to use a Bitcoin demo platform and give it a go! If you can multiply a crypto paper trading or demo account several times over, then perhaps you have the right skills and mindset to grow a small account into a fortune. Although, finding a crypto website to demo trading can be quite challenging as not all trading platforms and brokers offer a practice account. This article will list and compare the top places for crypto demo trading.
Best Demo Crypto Trading Accounts For 2022
The most popular cryptocurrency demo accounts to practice trading are:
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Cryptocurrency Demo Account: Reviews
We have reviewed and assessed each website to demo trading crypto on important factors such as beginner-friendliness, ease of use, number of crypto pairs and available trading tools. It's equally important to open a demo account with a crypto exchange that is reputable, offers a good selection of coins to trade and has low fees to open a real account once ready to trade with actual money.
eToro is a global financial brokerage that was established in 2007 to provide financial trading and investing platform that includes a variety of markets such as Crypto, ETFs, Stocks, Indices, Commodities and Forex. The brokerage has become well-known for its crypto social trading platform that allows investors to follow the most successful traders and copy-trade their positions.
eToro is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) and the Financial Conduct Authority (FCA) of the United Kingdom. This means, demo traders can switch to live funds using a regulated crypto platform in Australia and the UK.
New users on eToro can open a free $100,000 Practice Account to start trading cryptocurrency and other assets. Here, traders can select from 16 digital currencies to analyze the price chart, add indicators, draw lines and patterns and place buy and sell orders to enter a position. Using a demo trading account means that traders don't need to worry about losing money.
One of the best features of eToro is the social news feed that allows traders from all over the world to post their trade ideas, chart analysis and sentiment on market direction for Bitcoin and 15 other crypto coins. This community can be used for beginners to understand how to trade with other users on the platform and find potential trade setups.
It is important to note that each trader on eToro will have a different strategy. However, the benefit of social trading allows users to be exposed to different methods for trading cryptocurrency. A good place to start is to follow the “Popular Investors” and replicate their trading using a demo account to learn their trading style, evaluate their performance and see what actual gains could look like using real money.
eToro mobile trading app supports the demo trading account which enables users to monitor their positions, place orders and watch the market. The eToro app is highly responsive and can even follow the trading social feeds on your mobile device to stay informed of the activities of the top traders on the platform. Once ready to trade with real money, an eToro account can be funded using a bank transfer or wire transfer with as little as USD 10. In short, eToro has one of the best apps for crypto with its demo trading and social platform.
TradingView is a cloud-based charting and social-networking website that is widely popular in the trading and investing world. Originally used for stock scanning and charting, Tradingview is considered the "Rolls Royce" of charting software, tools and technical analysis for traditional and cryptocurrency markets. Tradingview offers the ability to monitor the historical prices of thousands of trading pairs across a variety of markets using a single platform.
TradingView is not an actual exchange to deposit funds and start trading with real money. Therefore, you will need to find a cryptocurrency trading platform to trade with actual funds. Instead, TradingView can be used to demo trade crypto and take advantage of its advanced charting system. Users can add technical indicators, chart patterns and drawing tools on the charts. There is even the option to add custom indicators by other users. Overall, using Tradingview's demo account is a little complicated and is best-suited to experienced investors that are familiar with the platform.
Users can activate a demo account on TradingView to simulate trading, back-test strategies and ideas from the social network. To get started, traders will need to create an account with TradingView to access the demo trade feature and connect to a paper trading account.
Once the demo mode has been activated, an order window will be displayed to enter buy or sell trade. TradingView includes different order types such as market, limit and stop. Another great feature is the ability to set a take profit and stop loss order which can be adjusted on the live price chart. Active positions and pending orders can be monitored at the bottom of the charts.
TradingView provides access to hundreds of crypto pairs by collecting data from crypto exchanges such as Binance, Bittrex, Coinbase, Bitfinex, Bybit, FTX and many others. The data collected from each exchange can be charted individually based on their own order books. Other great features of using the demo account on TradingView include:
- A one-stop shop to chart hundreds of trading pairs and demo trade
- Strategy tester to simulate trading strategies and measure results (Advanced)
- View prices from multiple exchanges with real market data
- Demo trade on traditional and crypto markets
- Set price alerts, additional indicators per chart, volume profile etc.
Plus500 is a leading CFD provider that allows its massive customer base to trade the world's most popular assets such as Shares, Indices, Forex, ETFs, Options, Indices and Cryptocurrencies with leverage up to 30x. The CFD demo account platform is a popular way to learn how to trade cryptocurrency.
Users can participate in demo trading traditional financial assets and buy cryptocurrency CFD's such as Bitcoin, Ethereum, Litecoin, Neo, Ripple XRP, EOS, Cardano and Tron in one location.
The dashboard lists each crypto pair that can be selected on the demo trading account or using real funds. It is quick to filter through each trading pair to find a chart to analyze and place orders. New traders will find the user interface on Plus500 to be simple and easy to use.
There are no distractions such as pop-up menus, options and flashing order books. The charting screen is intuitive, clean and responsive that includes basic tools to draw trend lines, chart patterns, change time-period intervals and much more.
The order entry window provides a summary of the trade which is useful for beginners using the demo account. Here, traders can quickly review the spread charges, leverage amount, set alerts and enter a buy/sell position.
Overall, investors that want to start Bitcoin trading using a demo account will find Plus500 a great choice for experienced traders. The only disadvantage with Plus500 is that the platform is not available in many regions. For example, residents in the United States will not be able to create an account. Therefore, eToro is a better option to demo trade crypto in the US.
StormGain is a new and advanced cryptocurrency trading and investing platform that offers 17 different futures markets to trade with leverage up to 200x. The exchange includes a demo account for its customers to practice trading using the real market data and become familiar with the user interface.
The trading interface is cutting edge and comes with all the crypto trading tools and features to gain an edge in the market. With its modern interface, secure wallet, two-factor authentication and excellent user experience, StormGain is a serious crypto trading platform. Beginners can experience trading on a modern and sleek platform with StormGain's demo account.
The demo trading experience is surprisingly excellent and has all the features and trading functions if you were trading with a real account. The main page shows the different crypto pairs, live price charts, wallet balances and open positions.
If you click on 'Full Screen' mode, the full charting window is shown which is very modern. Here, you can add indicators, draw trend lines and patterns by right-clicking the chart. Any technical analysis that you apply to the chart remains when you return to the dashboard.
Overall, StormGain is one of the best places to trade crypto with margin. The futuristic user interface and trading charts are one of the best we have seen that will suit beginner traders.
BitMart is a popular trading platform that has grown in popularity since its launch with over 2 million customers worldwide. BitMart has expanded its products and services offering to include futures trading, staking and lending services to earn rewards. Users on the exchange can get started with cryptocurrencies by using a practice account.
BitMart's user interface is designed for beginners to trade the crypto spot market with a slightly different appearance from the futures markets to include leverage options. The charts are provided by TradingView where new traders to crypto can overlay several technical indicators. The simulated trading environment has the same appearance as a live trading account as shown below.
Users that decide to fund a real account with BitMart can benefit from the cutting-edge trading products and services offered on the platform such as:
- Spot market with over 90 crypto pairs against BTC, ETH, USDT and BMX tokens
- Futures market to trade crypto with leverage up to 100x
- BitMart app to monitor portfolio and trade from anywhere
- Lending on digital assets such as USDC to earn crypto interest up to 6.25% annualized
Nominex is a new cryptocurrency exchange that features a simple and elegant user interface that is ideal for beginners or intermediate traders. New users will not need to complete a KYC verification process to begin trading and can withdraw funds up to 3 Bitcoin per day.
Nominex has been designed to focus on helping new users by offering:
- An easy to use interface
- Demo trading modes
- Cold storage wallet security
- Trading commissions near zero
- Excellent liquidity and low spreads
- Resources to help new traders learn the basics
- Earn additional income through referral programs.
Nominex.io offers a free crypto trading and educational course that comprises 10 modules aimed to help new traders to become familiar with the exchange and grow confidence in trading the market. There are more than 30 articles with examples and detailed explanations. To help incentivize new traders, Nominex offers rewards for completing each trading lesson and a starting account with up to $500 USD in trust.
Once completion of the training course, users can also activate the cryptocurrency demo trading account which is based on real market conditions. Beginners can learn to trade on a real exchange with zero risk, understand price trends, test trading theory and practice at the same time.
Nominex is one of the only exchanges that offer competitive tournaments on a demo account with a prize fund of $2,700 USDT and 415 NMX tokens. The reward for first place is $1,000 USDT in trust management. The balance is updated daily to $10,000 in USDT with generous rewards for winning the tournament. Users can choose to participate in real cryptocurrency trading tournaments with prizes in USDT.
Top Bitcoin Demo Trading Sites: Comparisons
This comparison guide provides an overview of the best demo account websites to trade Bitcoin and cryptocurrency assets without losing money.
|Exchange||Crypto Assets||Trading Fees||Rating||Promotion||Website||Review|
|None available at this time||Visit eToro|
Disclaimer: 78% of retail CFD accounts lose money
|None available at this time||Visit TradingView|
|9||Spread & other fees|
|None available at this time||Visit Plus500|
CFD service. Your capital is at risk.
|248||0.1% (spot), 0.06% / 0.01% (futures)|
|Up to $180 bonus for new users||Visit Phemex||Phemex Review|
|Up to 20% Bonus for deposits||Visit Stormgain||Stormgain Review|
|None available at this time||Visit BitMart||BitMart Review|
|None available at this time||Visit Nominex|
Benefits of Using A Demo Account
There are several top cryptocurrency exchanges that offer demo trading to learn crypto trading without making a deposit. Using a demo trading site before funding a real account offers several advantages for beginner traders such as:
- Get to know the trading platform and user-interface
- Learn cryptocurrency trading and technical analysis
- Back-test a crypto day trading strategy
- Understand the different order types and market dynamics
- Fun and safe environment with no risk of losing money
- Test out automatic crypto trading bots and algorithms
- Participate in demo account trading tournaments for crypto
If you would like to learn how to trade crypto, then the next step is to find a crypto exchange that supports paper trading crypto-assets to practice on the live charts.
How To Demo Trade Cryptocurrency
Beginners should focus their time and effort on learning to trade cryptocurrencies. One of the best ways to learn to trade is to register a crypto demo account. There are many free resources online to understand how the crypto market works and basic technical analysis. This way, you get to preserve your recently purchased Bitcoins while learning a new skill that, if done correctly, will benefit your trading and investment portfolio.
Trading cryptocurrency with a demo account is similar to using real funds. To get started, follow these simple steps:
- Register for a crypto demo provider such as eToro
- Activate demo trading and select a crypto pair to trade
- Place an order using the buy and sell buttons
- Monitor the trade in the position window
- Close the trade at the desired price level
Frequently Asked Questions
First time investors and beginner traders that create an account with a trading exchange should trade cryptocurrency using fake money using a demo account. Using a practise money allows a trader to understand the platform features and learn how to trade Bitcoin and other altcoins without losing any capital.
Crypto exchanges that offer a testnet or paper trading are free to use. The trader can become familiar with the user-interface before making an actual deposit. In most cases, you do not need to register another user account and can use the same login details.
Binance does not offer a demo trading mode to allow users to trial out the trading platform without making a deposit. Users need to deposit fiat currency, crypto or stablecoins to trade on the exchange.
Coinbase is designed for beginners to get started with digital currencies, however does not offer a demo or paper trading account to practice on the platform. New investors will need to make a deposit to access all the features on the exchange or use a platform that allows demo trading.
For new traders that are looking for an easy-to-use Bitcoin demo trading platform, our suggestion is eToro which is incredibly beginner-friendly. It's quick to sign-up and the user interface is intuitive, features social trading, copy-trade successful traders and has a mobile trading app.
Remember, when you’re just starting out with trading with real crypto, it’s not about making money at first. It's more important to define a trading strategy with risk management rules that is repeatable and profitable. To keep the costs of trading down, new users of crypto can also consider using a zero-fee crypto exchange. While losses can still be incurred, at least there are minimal transaction costs involved when buying and selling crypto.