Cryptocurrencies are a popular way to make additional money. Whether it's through earning compound interest on crypto or speculating on the markets using high margin trading platforms, it's possible to grow your crypto portfolio very quickly.
While the vast majority will never be profitable trading, the only way to find out if you have what it takes is to 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. Just remember to use a crypto hardware wallet when using real funds.
Popular Crypto Demo Trading Accounts
The most popular demo trading sites to practise trading without real money are:
- eToro (world-class platform with social trading and copy-trade to learn from the best)
- Plus500 (beginner-friendly CFD provider with an easy to use platform)
- Phemex (advanced trading platform that offers zero-trading fees to buy/sell crypto)
- TradingView (feature-rich and advanced charting system that allows paper trading)
- StormGain (cryptocurrency exchange with a highly intuitive and sleek interface)
- PrimeBit (peer-to-peer exchange that supports MT4 trading)
- ByBit (leading crypto derivatives platform with advanced trading features)
- BitMEX (most popular margin platform in the world with a testnet to practise trading)
Bitcoin Demo Trading Sites: Comparison
This comparison guide provides an overview of the best demo account websites to trade Bitcoin and cryptocurrency assets without losing money.
Crypto Demo Trading Exchanges: Reviews
We have reviewed and assessed each website to demo trading Bitcoin and crypto based on important factors such as beginner-friendliness, ease of use, number of crypto pairs and available trading tools.
eToro is a global financial brokerage that provides 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 social trading platform that allows investors to follow the most successful traders and copy-trade their positions.
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 analyse 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 on eToro is the social news feed that allow 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 from other users on the platform and find potential trade set ups.
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.
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 platform is a popular choice for beginners to learn how to trade cryptocurrency with a demo account.
Users can participate in demo trading traditional financial assets and cryptocurrency CFD's such as Bitcoin, Ethereum, Litecoin, Neo, Ripple XRP, EOS, Cardano and Tron in the 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 analyse 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 due to its beginner-friendly platform that is ideal for traders of all skill levels.
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 as the "Rolls Royce" of charting software, tools and technical analysis for traditional and cryptocurrency markets.
TradingView is not an 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. However, TradingView offers a complete demo account that uses its advanced charting system. It is a little complicated to enable and is 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 activate, 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, Biki and many others. The data collected from each exchange can be charted individually based 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.
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, the platform is packed with excellent features for traders that have want to eventually learn Bitcoin trading with margin. The futuristic user-interface and trading charts is one of the best we have seen, is not too complicated and will suit beginner traders.
PrimeBit is a peer to peer crypto margin trading exchange that allows users to trade Bitcoin, Ethereum and Litecoin with up to 200x leverage. Trading with leverage is very risky, so beginners learning to trade crypto should keep clear for now.
The platform is integrated with MetaTrader 5 which has been the trading application of choice for experienced and beginner traders for many years. If you have traded the traditional assets and looking to speculate on crypto markets, then seeing the MT5 charts will come as a nice surprise.
Primebit charts are easy to use, comfortable and provide multiple functions to suit the modern day trader. The charting window is clean, well laid out and simple to use for technical analysis and backtesting crypto strategies.
It comes with in-built technical indicators that can be added to the chart such as:
- Simple Moving Averages
- Relative Strength Index
- Bollinger Bands
- Average True Range
- And many more...
The next best crypto demo trading site on our list is Bybit. It is one of the top crypto exchanges on the market today that is safe, reliable, fair and user-friendly to trade Bitcoins and altcoins with leverage.
Bybit has seen explosive growth in the last year as it solves a number of issues such as poor liquidity, latency and unreliable services.
One of the best things about Bybit is the sleek, modern and intuitive user interface as shown above. The charts are by TradingView which are widely renowned as one of the best charting sites for several different asset classes.
To help beginners learn the craft, Bybit has a demo mode where you can learn to trade the crypto markets by setting up a testnet. A testnet is an alternative Bitcoin blockchain to be used for testing. This allows you to trade real crypto prices and not a simulated environment.
If you're going to learn crypto trading, then you might as well get use to trading with real market data to experience real price movements and volatility. The only downside with the Bybit demo trading site is the process to set up a testnet is a little complicated. It does take some effort so we suggest you follow this guide to help you out.
BitMEX is the largest and most widely used margin trading platform on the planet. The exchange allows traders are able to buy and sell contracts for cryptocurrencies (not the actual coins themselves) combined with margin trading up to 100 times
At first, the interface does appear to be a little dated compared to the newer exchanges such as Bybit. However, it still provides all the basic functions to learn how to trade Bitcoin and the major altcoins.
The interface can be a little daunting at first for beginner traders, so this exchange might be more suited to users with a basic understanding of trading, position-sizing, risk management and leverage.
Given that it is a premium crypto trading service that offers demo trading using the Bitcoin testnet, BitMEX makes our list for one of the best Bitcoin trading sites.
Why Should I Trade A Bitcoin Demo Account?
There are several cryptocurrency trading platforms 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
- Understand the different order types and market dynamics
- Fun and safe environment with no risk of losing money
- Back-test a crypto day trading strategy
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.
Frequently Asked Questions
Beginners should focus their time and effort learning to trade cryptocurrencies. One of the best ways to learn trading 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.
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.
To start crypto demo trading, follow these simple steps:
- Register for a crypto demo provider such as Plus500
- Verify your account
- Navigate to the trading interface
- Place an order using the buy and sell buttons
- Monitor the trade in the position window
- Close the trade when it hits your take profit or stop loss levels
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.
The best way for beginners to learn how to trade cryptocurrency is to practice using demo trading account. This allow the trader to understand the platform features, risk management tools and technical indicators. Once the trader is confident with using the platform and is profitable, they can deposit funds and trade with an actual account.
There you have it, the top platforms to trade cryptocurrency with fake money using a demo account.
For new traders that are looking for an easy to use platform, our suggestion is to create an account with Plus500 which is incredible beginner-friendly. It's quick to sign-up and the user interface is intuitive, easy to use 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.
Also, don't forget to take profits and transfer your crypto to a reputable hardware wallet. This way, you can keep growing your crypto wealth in the long term. If trading is not the best fit for you, then you can also learn about high-interest crypto savings accounts to earn additional income.
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