Connect with us

Demo Trading

Top 5 Cryptocurrency Trading, Betting Platforms with Free Demo Money

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…

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.

Altcoin News, Bitcoin News, Cryptocurrency news, News, Personal Finance

CoinSpeaker Staff
Author: Andrey Sergeenkov

Cryptocurrency investor, journalist, analyst, and growth hacker. I cover crypto, blockchain, crowdfunding, and education.

Share this article
Continue Reading
Advertisement

Broker news

Donald Trump blasts ‘fools’ who oppose good Russian ties

US President-elect Donald Trump has posted a progression of tweets censuring the individuals who contradict great relations with Russia as “‘dumb’ individuals, or nitwits”.

Mr Trump promised to work with Russia “to comprehend a portion of the numerous… squeezing issues and issues of the WORLD!”

His remarks came after an insight report said Russia’s leader had attempted to help a Trump race triumph.

Mr Trump said Democrats were to be faulted for “gross carelessness” in permitting their servers to be hacked.

In a progression of tweets on Saturday, Mr Trump said that having a decent association with Russia was “no terrible thing” and that “lone “idiotic” individuals, or simpletons, would believe that it is awful!”

He included that Russia would regard the US increasingly when he was president

Continue Reading

Broker news

Bulls and Bears Took on More Currency Exposure in Week Through January

he most striking improvement among theoretical situating toward the finish of a year ago and the primary session of 2017 is not that modification were little. There was just a single gross theoretical position modification of more than 10k contracts. With sterling apparently not able to maintain even humble upticks, the bears added 13.1k contracts to the gross short position, lifting it to 120.2k contracts.

Or maybe, it is eminent that examiners for the most part added to positions, long and short, as opposed to close positions at the very end of the year. Examiners added to net long outside cash prospects positions, aside from in the Japanese yen and Swiss franc where 2.6k and 2.5k contracts were exchanged separately. Examiners likewise added to gross short positions. Here there was just a single exemption, the Japanese yen. Despite the fact that the dollar shut comprehensively higher in front of the end of the week, every one of the monetary forms we track here, spare the Mexican peso, picked up against the dollar in the three sessions since the finish of the CFTC reporting period.

Every once in a while it is helpful to review why many market members take a gander at the theoretical situating in the cash fates advertise. It is not that the outside trade is essentially a prospects showcase. It is principally an over-the-counter market in which every day turnover midpoints in abundance of $5 trillion a day.

Trade exchanged monetary forms and alternatives represented around 3% of the normal day by day turnover as indicated by the BIS study. Be that as it may, past reviews have discovered some contemporaneous connection between’s market heading and net position changes. We think it additionally offers knowledge into a specific market section of pattern supporters and energy brokers. It is not by any means the only device, yet one of a few data sources.

One ramifications of this is albeit theoretical positions in the money fates market are moderately extensive, it is still little contrasted and the money showcase. Along these lines, it is difficult to see the genuine essentialness of a record vast position, as though there is some market top. At some point, examiners are not driving the costs, possibly there is another fragment, national banks, enterprises, as well as genuine cash that is more essential at any given minute.

We invest some energy taking a gander at gross positions instead of just net theoretical positions, which is the more customary approach. We think a more granular look is frequently fundamental. There is a distinction between short-covering, for instance, and new purchasing, however it appears to be identical in the net. Additionally, the gross position is the place the introduction is not the net position. A net position of zero does not mean the market is nonpartisan. Net positions could be huge, which implies a short press or a negative stun could in any case troublesome. The positions that must be balanced are captured in the gross measure not the net figure.

We find numerous customers are likewise keen on theoretical situating in the US Treasuries and oil. The net and gross short theoretical Treasury position has swelled to new records. The bears added 23.8k contracts to the as of now record net short position, lifting it to 616.2k contracts. The bulls attempted to pick a base and added about 20k contracts to the gross long position, which now remains at 471.2k contracts. These modification prompted to a 3.8k contract increment in the net short position to 344.9k contracts.

The bulls delayed in the oil prospects toward the finish of 2016. They exchanged short of what one thousand contracts, leaving 608.1k gross in length contracts. The bears added 4.1k contracts to the gross short position, giving them 168k. These conformities trimmed the net long position by very nearly 5k contracts to 440.1k.

Continue Reading

Broker news

3 ways to profit in the ‘year of the dollar’

In December, the Federal Reserve raised loan fees for the second time since the Great Recession and included the desire of a 2017 financing cost climb to its gauge. Furthermore, only a couple days prior, the abundantly anticipated minutes from the most recent Fed meeting demonstrated the most hawkish tone from the national bank in two years.

In the meantime, Europe has been dove into political turmoil after a year ago’s Brexit vote and the later abdication of Italy’s leader. Somewhere else, the Bank of Japan proceeds down the way of negative rates and forceful security purchasing.

Put it all together, and it isn’t astounding that the U.S. Dollar Index is up against 14-year highs.

Speculators may have missed so much discussion on account of babble about the Dow Jones Industrial Average at the end of the day almost hitting 20,000. Be that as it may, paying little respect to your assignment to stocks or your venture skyline, this sort of huge picture incline in the dollar implies right now is an ideal opportunity to position your portfolio to benefit and, maybe most critical, to keep away from a portion of the pitfalls that can originate from a solid local cash.

Here are a couple ideas dollar exchanges ought to consider:

Residential plays over multinationals

There’s a considerable measure of seek after shopper stocks in 2017 on account of an enhancing work market and any desires for a jolt under a GOP-controlled Congress and President Donald Trump. In any case, remember that not all retailers are made equivalent especially those with abroad operations that are adversely affected by the wide dissimilarity in monetary standards at this moment.

For example, retailer Wal-Mart Stores Inc.(WMT) said troublesome money trade rates shaved very nearly 2.5% off profit for each partake in the second quarter of 2016. On the other hand consider that in the monetary final quarter of 2016, athletic attire goliath Nike Inc.(NKE) saw its income development cut down the middle because of forex weights, from 12% year-over-year in consistent cash measures to only 6% including real money changes.

To take advantage of the “reflation” exchange that numerous financial specialists are counts on in 2017, you need to represent the headwinds that a solid dollar are making for multinationals at this moment. The most ideal approach to do that is to consider customer plays that do by far most of their business here in the U.S. – for example, Foot Locker Inc.(FL), which has been an uncommon splendid spot in retail throughout the most recent couple of years.

Supported money ETFs

Obviously, in the event that you need a steady portfolio, you can’t just purchase just local centered values. Geographic expansion is similarly as imperative as enhancement crosswise over parts and resource classes. Such a large number of financial specialists keep on holding worldwide plays in light of a legitimate concern for a balanced portfolio, regardless of the possibility that it implies battling a daunting struggle as a result of a solid dollar.

The uplifting news, notwithstanding, is that you don’t need to leave yourself to torment through a solid dollar and a powerless euro when you put resources into Europe. Nor do you need to stress over the yen-dollar conversion standard when you put resources into Japan. That is on account of there’s an entire group of cash supported ETFs to permit financial specialists to put their cash in outside business sectors yet keep away from forex issues.

Consider that Japan’s Nikkei 225 file is up around 25% from its July 2016 lows. The WisdomTree Japan Hedged Equity Fund(DXJ) is up 35% in a similar period on account of assurance from forex issues and a somewhat better-performing rundown of stocks – while the non-supported iShares MSCI Japan ETF(EWJ) is up only 10% in a similar period because of battling a difficult task against a solid dollar.

In the event that you need to differentiate your portfolio comprehensively, you ought to consider supported assets that incorporate the Japan-centered DXJ, the WisdomTree Europe Hedged Equity Fund(HEDJ) to play Europe or the iShares money Hedged MSCI EAFE ETF (HEFA) for developing markets.

Dollar list ETF

In the event that you are searching for an immediate play on a rising dollar as opposed to putting resources into stocks, figuring out how to exchange remote trade can appear like an overwhelming undertaking. Gratefully, there’s the PowerShares DB US Dollar Index Bullish Fund(UUP).

This ETF is attached to the U.S. Dollar Index, which is a measure of the greenback against a wicker container of other worldwide monetary standards including the yen and the euro. It’s a straight money play, however that doesn’t make it straightforward or hazard free. In the event that the dollar debilitates, you’ll lose cash similarly as though you’re putting resources into a stock that has fallen on difficult circumstances. Furthermore, obviously, PowerShares takes a little cut of your speculations en route that indicates 0.8% yearly, or $80 a year on each $10,000 contributed.

Still, in the event that you need to conjecture on the dollar or support against a solid U.S. cash keeping down other worldwide ventures on your rundown, it’s maybe the least demanding approach to do as such for generally financial specialists.

Continue Reading

Trending