Crypto demo: Practicing Bitcoin Investing with Fake Money
Did you know that you can try investing in Bitcoin and other cryptocurrencies without any risk by using a free demo? Within a demo account, you’ll receive fake money, allowing you to test out different strategies right away. In this article, you’ll discover how and where to open a free crypto demo.
Which crypto brokers offer a free demo?
In the table below, you can see which brokers allow you to try investing in crypto with fake money:
|Probeer beleggen in crypto gratis uit met een demo. Cryptoassets zijn erg volatiel en niet gereguleerd. Geen consumentenbescherming. Belastingen over winsten kunnen van toepassing zijn.|
|Bij CFD provider Plus500 kan je actief speculeren uitproberen met een gratis demo. 82% van de retailbeleggers verliest geld met CFD's.|
Which brokers let you try investing in crypto for free with a demo?
eToro – virtual investing with $100,000
You can try out virtual crypto investing without any risk with a free demo at eToro. The user-friendliness of eToro is a great advantage. You can add your favorite cryptocurrencies to a watchlist and keep track of the prices. You also benefit from staking profits at eToro and can follow other users with the Crypto portfolio.
Illustrative prices. The eToro demo platform
Plus500 – active speculation with CFDs
Plus500 is an ideal option if you want to try out crypto day trading with a demo. With Plus500, you can speculate on both rising and falling prices with CFDs. Opening a demo is 100% free and you can also open a larger position due to the presence of leverage. Use the button below to open a free demo account with Plus500:
Illustrative prices. The Plus500 demo platform
Capital.com – Popular crypto demo
Capital.com is another popular choice for investors who want to try out crypto with a demo and is known for its low fees. Use the button below to open an account with Capital.com:
What are the benefits of practicing crypto trading with a demo?
- Test the broker: You can test the crypto broker to see if it suits your needs.
- Watchlist: With a demo account, you can closely monitor crypto market prices. For example, you can set notifications to receive an alert when the price reaches a certain level.
- Practice: You can use a crypto demo to test out different trading strategies.
- No risk: If you’re unsure whether investing is right for you, a demo can help you avoid financial risk.
What are the risks of trading with a crypto demo?
- Overconfidence: Some crypto traders become overconfident when trading with a demo account. When real money is on the line, emotions run higher.
- Realism: On a demo account, crypto positions are often opened immediately, whereas in reality, you may experience slippage. This means that your actual results may be worse.
- Features: Not all brokers offer exactly the same features in a demo account. Therefore, it is important to research whether the transaction costs are the same as in real life.
How can you best practice with a demo?
- Experiment: By trying out the possibilities, you can find out if investing in crypto is right for you. Try out different strategies: this way you can find out if you can achieve positive results with your investments.
- Reflect: Take the time to evaluate your trades. Write down what went well and what went wrong for yourself: this way you can achieve better results.
- Realism: Trade with the demo as you would in real life. With a demo account, you often start with a large amount of, for example, $100,000. When you want to trade with $100 yourself, it is important that you also trade on the demo as if you only have $100.
Transition from fake money to real money
When you are ready, you can directly switch from your demo with fake money to a live account. To do this, you must first activate your account by uploading a copy of your passport and address. You can then immediately deposit money at the crypto exchange and start buying and selling crypto for real.
Keep in mind that investing with real money is always more difficult. Emotionally, losses are harder to handle!