Many people try to engage with crypto trading, for the crypto market is lucrative and can really bring significant profits. However, besides brighter prospects, trading also bears risks and sometimes heavy losses. Every trader goes through his own mistakes and learns from them. To make fewer mistakes, follow the rules:
- Do not invest your last money. Separate only a part of your budget you can afford to lose.
- Make decisions with a cool head. Emotions are your enemy in trading.
- Adhere to the chosen trading strategy and do not rush.
- Pick a credible platform to work with. Good news if an exchange allows practicing with a demo account.
Crypto demo trading is a fairly helpful option that enables you to practice trading without risk.
Here is the list of exchanges with demo crypto trading:
- Binance
- Coinbase
- Huobi
- OKEx
- WhiteBIT
Let’s see how it works and take a young exchange WhiteBIT as an example.
Trading Without Risk of Losing Money with WhiteBIT
WhiteBIT is a young company working under European jurisdiction. It allows you to buy cryptocurrency with fiat money using bank cards, and it enables crypto demo trading.
Once you have registered on White BIT and got your first crypto on your wallet, picked the trading strategy, and know what assets you want to buy, you would probably like to go through some training period. This is your first trading strategy, and you don’t want to lose your funds. The advantage of the demo crypto trading option is that you can buy and sell crypto without fear of losing your investments when making a wrong decision. So how does it work?
Once you sign up on the WhiteBIT website, you are offered to get a Demo Token. This asset has no real value, and it can’t be purchased, but you can accrue it and practice trading strategies for free. WhiteBIT offers demonstrative tokens which allow you to buy Bitcoin in test mode and sell it as many times as you wish and understand how it is done. Such Demo Tokens are 0.5 DBTC and 1000 DUSDT. It is important to note that they cannot be used for buying or selling assets using borrowed funds as in margin trading.
