Trading crypto requires deep knowledge of the market and a lot of practice. A beginner trader should start by studying the theoretical part, for example:
- How does the crypto market work?
- What assets are worth buying?
- How to read crypto charts?
- How to conduct tech analysis?
- How to access the external factors impacting the market.
- And many more topics.
In the process of studying the key things about crypto, you will get an understanding of how it works.
Crypto trading strategies are essential paragraphs to study because trading is actually based on them. When you begin learning strategies, you will face many questions. Try to combine theory with practice, and it will help you understand how trading works. Let’s discuss what a crypto trading simulator is and how it works.
Crypto Demo Trading
Some crypto exchange platforms offer their users a demo trading option, for it is the best way to receive priceless experience in trading. Demo tokens are used as demo trading cryptocurrency. They can’t be cashed out or deposited. That is, a user does not worry about possible losses or gains. Instead, the user is focused on the trading process and studies the strategies.
The crypto trading simulator allows you to realise the weaknesses and pitfalls in trading strategies and see earning opportunities you could miss out on when trading on the real market. Also, demo trading helps to cope with emotions and not allow the feeling of greed and hope to guide you and impact the decision-making process.
Where Can I Practice Crypto Demo Trading?
The WhiteBIT crypto exchange is one of a few platforms allowing demo trading. The exchange provides users with demo tokens and all the needed information on trading – charts, articles, and guides. You will find a lot of helpful guides on the White Blog. When practicing demo trading, you will also learn to use all the platform’s tools which will help you in the future when you trade on real markets.