Bitcoin Forum

What's the difference between a practice and live trading account?

A practice accounts doesn't involves real money, you're given fake money and real data and you can practice your trading strategies to see how good/bad they are. Live trading account is where you actually invest and make/lose money.

Live Baby is right. In practise you can loose your money from live trading account very fast, therefore always start with practise account and think before you invest  ;D

I am new to trading. Is there any site that offers practice accounts, where we can use free credit ? And how would one know when to move over to actual trading?

i don't think there is any crypto exchange that giving practice account but you can get with forex with any broker

The difference is that whether you can withdrawal or need deposit from the account.

you can try hitbtc they provide demo trading account.

Thanks, I will check it out.

You need to remember that practice accounts will not actually affect the market. For example if you were to place a 3 BTC order on a practice account you would simply buy the btc at the offer rate, while a "live" account would need to actually take offers out of the order book which would likely result in some level of slippage. This is important because the bitcoin markets are not very large by stock exchange standards (where multimillion dollar orders happen every minute on most stocks)

In forex trading many sites providing demo accounts to practice trading but there are no sites in bitcoin trading providing practice account.

almost every forex broker provide demo account
for demo account in crypto trading you can try this