Best exchanges to practice for free?

[jostorres]

I will open accounts on some exchanges soon. I would like to prioritize one where I will be able to practice for free. From what I have read and seen so far, Binance seems to be considered the best exchange overall. However, I didn't see any mention of being able to practice for free on Binance website. So which exchanges would be best for that?

You can practice trading for free on eToros demo mode. And because they are a social trading platform you can also copy more experienced trader once you have built up some confidence. Good Luck!

Copying any of the pre-existing traders might not really need any confidence. What you would need is to find a trader who has good portfolio, good ROI and also you have to check the number of people copying the trader. Understanding these basic things can make you copy any professional trader and earn a decent amount but you need to pay some fees which would directly be transferred to the trader you are copying and also you would need a good capital to invest on such traders.

It would be good for OP if he starts learning trading on his own because it would not cause him any extra fees and also he might perhaps get higher returns if he move onto real trading with immense knowledge and experience.

[1714879198]

1714879198

[1714879198]

1714879198

[1714879198]

1714879198

[redsun114]

I will open accounts on some exchanges soon. I would like to prioritize one where I will be able to practice for free. From what I have read and seen so far, Binance seems to be considered the best exchange overall. However, I didn't see any mention of being able to practice for free on Binance website. So which exchanges would be best for that?

There are a number of platforms where you can practice your trading skills with some testnet coins. Bybit also offers testnet trading feature so it might be something which would be best for you to start learning how trading actually works. You can learn about leverage trading because it might give you good profits as compared to spot trading or margin trading.

You have to bear you own loss in such kind of trading but the profits would make you bear the loss. Even holding $500 to $1000 might make you able to trade with a whole number of bitcoins which would indeed give you major profits if you calculate fees approximately.

[vintages]

I would have suggested Binance but it does not offer this feature. I found a site/platform online and most people claim it is helpful. It is https://altcoinfantasy.com/

But the truth is, you don't have to look for a site like this but you can start from an exchange even with a reputable one. While you do so, instead of playing with good coins, play with shitcoins that cost little. It might cost you a little money, but it will help you to get used to it quickly as you are doing the real thing.

[erikalui]

The list is here with websites having free demo accounts and even it mentions the fee and BTC pairs: https://www.bitcointradingsites.net/features/demo-mode/

I don't know how useful it can be as unlike forex where demo accounts actually help you a lot to learn market trends with fiat, the altcoin and bitcoin prices are too volatile to even test pairs.

[samcrypto]

I will open accounts on some exchanges soon. I would like to prioritize one where I will be able to practice for free. From what I have read and seen so far, Binance seems to be considered the best exchange overall. However, I didn't see any mention of being able to practice for free on Binance website. So which exchanges would be best for that?

That’s a good plan before you do an official trading, and you can try on HitBtc which I believe have the feature of demo trading. Trading is not easy mate, you should also read books, attend seminars and watch youtube tutorial because you can just know the system of an exchange but still your trading action will depend on your knowledge about it. If you’re ready to the real world, then Binance is indeed the best option.

[Dart18]

Binance doesn't have that feature implemented. You can try BitsGap. It's a platform that I came across a not long time ago, and it seems like they allow demo trading through 5 different exchanges (not sure which). You also have BitMex testnet which is another reputable exchange.

Thank you for this.
I had been looking all around the internet about this.
Before I was using SparkProfit for practice in foreign exchange and commodities.
So we do have this kind also in crypto currencies.

I thought I will be wasting a lot of dollars just so to test my own skills. 

[AniviaBtc]

Binance doesn't have that feature implemented. You can try BitsGap. It's a platform that I came across a not long time ago, and it seems like they allow demo trading through 5 different exchanges (not sure which). You also have BitMex testnet which is another reputable exchange.

In terms of practice trade I also using Bitmex. Before I use a newly learned tading setup in a real trade, I first trying it in bitsmex to see if it is suitable for me. The practice trading helps me to improve my trading psychology and also my proper risks and management. Before I open a account in a reputable exchanges, I practiced first in this reputable exchange and it takes me a month for me to master the basics.

It is good if you practice trading in a exchange where you can easily used to it. Try to practice also in Binance so that you can master how it works easily without any problem. I tried using Binance when I was a newbie and for a month of practicing and using it, it went well for me. As you read for some strategies and techniques on how to proper use the Binance, it has features that you will discover that is easier for you to trade with some customers. Finding an efficient and effective exchange will make you productive, improve, and earn more profit in the upcoming transactions.

[iv4n]

I can't resist sharing this with you:
https://twitter.com/i/status/1222874359687262208
Source: https://twitter.com/crypto_blkbeard/status/1222874359687262208

I never understood people who like to use demo versions, especially people who trade or gamble with a demo version! Why would anyone do that? I think it's exactly like in this gif, it's what demo is, you are doing something but actually you are not doing anything! Better spend couple dollars and get the feeling of the real deal than to fool around.

[The_honey_bager]

I never understood people who like to use demo versions, especially people who trade or gamble with a demo version! Why would anyone do that?

The point in doing that imo is mostly to test if you are at least able to generate some kind of return on investissement before doing it with real money (or cryptocurrencies in this case).

[nydiacaskey01]

I can't resist sharing this with you:
https://twitter.com/i/status/1222874359687262208
Source: https://twitter.com/crypto_blkbeard/status/1222874359687262208

I never understood people who like to use demo versions, especially people who trade or gamble with a demo version! Why would anyone do that? I think it's exactly like in this gif, it's what demo is, you are doing something but actually you are not doing anything! Better spend couple dollars and get the feeling of the real deal than to fool around.

I would rather loose money in a demo account than loose money in a live account. Having a demo account may not sound like a good idea specially to those who are into trading for quite some time now, but for the noobs who would like to try trading as a side hustle, having a demo account or a practice account is a good start. We dont want to hear headlines of  new trader jumped off the building because he lost all his money and besides, why would exchanges add such a feature if its not a good idea.

[canamani]

As i know some exchanges offer free demo account but not all and could practice there, but even so  not get good results.

[joeperry]

Yeah haven't think of that it's better to have an practice exchange or maybe an artificial coins or something, I remember that there are some exchange or just a practice trading platform but it's been year now since I used it to have some experience on how trading works, however I forgot the what website it is.

It's great to have a practice area for a new investor so they would be able to practice first or to have an experience before they would invest to cryptocurrency and also it might be a good place as a training ground for different strategies of every users.

[Mahanton]

I can't resist sharing this with you:
https://twitter.com/i/status/1222874359687262208
Source: https://twitter.com/crypto_blkbeard/status/1222874359687262208

I never understood people who like to use demo versions, especially people who trade or gamble with a demo version! Why would anyone do that? I think it's exactly like in this gif, it's what demo is, you are doing something but actually you are not doing anything! Better spend couple dollars and get the feeling of the real deal than to fool around.

I would rather loose money in a demo account than loose money in a live account. Having a demo account may not sound like a good idea specially to those who are into trading for quite some time now, but for the noobs who would like to try trading as a side hustle, having a demo account or a practice account is a good start. We dont want to hear headlines of  new trader jumped off the building because he lost all his money and besides, why would exchanges add such a feature if its not a good idea.

This is the main purpose why demo trading is created.Going back in forex trading platforms which most of those brokers do have that demo trading feature which it is somewhat already a standard but not
quite common here on crypto and only a few does offer this one.For total noobs its highly suggested on making some demo before doing the live one.Its true that better start off with real with small amounts
but you cant really avoid the impulsive reaction when you lose real money which would probably result into more complicated situation.

Suggestions on exchanges that do have demo is already mentioned, no need to repeat it.

[iv4n]

I can't resist sharing this with you:
https://twitter.com/i/status/1222874359687262208
Source: https://twitter.com/crypto_blkbeard/status/1222874359687262208

I never understood people who like to use demo versions, especially people who trade or gamble with a demo version! Why would anyone do that? I think it's exactly like in this gif, it's what demo is, you are doing something but actually you are not doing anything! Better spend couple dollars and get the feeling of the real deal than to fool around.

I would rather loose money in a demo account than loose money in a live account. Having a demo account may not sound like a good idea specially to those who are into trading for quite some time now, but for the noobs who would like to try trading as a side hustle, having a demo account or a practice account is a good start. We dont want to hear headlines of  new trader jumped off the building because he lost all his money and besides, why would exchanges add such a feature if its not a good idea.

This is the main purpose why demo trading is created.Going back in forex trading platforms which most of those brokers do have that demo trading feature which it is somewhat already a standard but not
quite common here on crypto and only a few does offer this one.For total noobs its highly suggested on making some demo before doing the live one.Its true that better start off with real with small amounts
but you cant really avoid the impulsive reaction when you lose real money which would probably result into more complicated situation.

Suggestions on exchanges that do have demo is already mentioned, no need to repeat it.

Its psychological aspect, real money means real emotions. There are many articles about it, I found one interesting one that explains very good what I wish to say:
3 Psychological Differences between Demo and Live Trading - https://www.babypips.com/trading/demo-live-forex-20181031.
When you risk real money you know what's on stake, you know that good moves makes your profit bad moves hurts you, and that's a school, you need to learn what is good and what is bad for you if you wish to survive in long run. Article explains that, I figure that out by myself years ago. It good for reading, especially for people who think to try demo or real for the first time.

[buihieucr77]

I will open accounts on some exchanges soon. I would like to prioritize one where I will be able to practice for free. From what I have read and seen so far, Binance seems to be considered the best exchange overall. However, I didn't see any mention of being able to practice for free on Binance website. So which exchanges would be best for that?

I recommendation you opening account on Binance, Houbi, Bitmax because Those are exchanges high secure with cheaper fees when you transaction altcoin or bitcoin.

[Ailurophile]

I will open accounts on some exchanges soon. I would like to prioritize one where I will be able to practice for free. From what I have read and seen so far, Binance seems to be considered the best exchange overall. However, I didn't see any mention of being able to practice for free on Binance website. So which exchanges would be best for that?

Yes you could try some trading simulator there are so many of them you just have to look in the internet.
I think most of the best exchange doesn't offer that kind of game since there are already some dedicated website for such thing.

[Spider A4]

Binance exchange have no demo trading for beginners. Binance dex test net demo there is a opportunity you can try. Maximum cryptocurrencies exchanges not implement free trail method. I'm used Iq Option android apps for the first time practicing, it is forex binary trading platform. So helpful for android users. In the BitMex exchange you can free practice. 

[Ucy]

I can't resist sharing this with you:
https://twitter.com/i/status/1222874359687262208
Source: https://twitter.com/crypto_blkbeard/status/1222874359687262208

I never understood people who like to use demo versions, especially people who trade or gamble with a demo version! Why would anyone do that? I think it's exactly like in this gif, it's what demo is, you are doing something but actually you are not doing anything! Better spend couple dollars and get the feeling of the real deal than to fool around.

Trading with real money actually helps, but what of those who can't take risk or can't afford to lose even a little amount?
I guess the available demo trading sites could use the carrot and stick to keep their users from becoming too complacent. Practicing with demo is safer approach to many/most people.

[Mahanton]

I can't resist sharing this with you:
https://twitter.com/i/status/1222874359687262208
Source: https://twitter.com/crypto_blkbeard/status/1222874359687262208

I never understood people who like to use demo versions, especially people who trade or gamble with a demo version! Why would anyone do that? I think it's exactly like in this gif, it's what demo is, you are doing something but actually you are not doing anything! Better spend couple dollars and get the feeling of the real deal than to fool around.

I would rather loose money in a demo account than loose money in a live account. Having a demo account may not sound like a good idea specially to those who are into trading for quite some time now, but for the noobs who would like to try trading as a side hustle, having a demo account or a practice account is a good start. We dont want to hear headlines of  new trader jumped off the building because he lost all his money and besides, why would exchanges add such a feature if its not a good idea.

This is the main purpose why demo trading is created.Going back in forex trading platforms which most of those brokers do have that demo trading feature which it is somewhat already a standard but not
quite common here on crypto and only a few does offer this one.For total noobs its highly suggested on making some demo before doing the live one.Its true that better start off with real with small amounts
but you cant really avoid the impulsive reaction when you lose real money which would probably result into more complicated situation.

Suggestions on exchanges that do have demo is already mentioned, no need to repeat it.

Its psychological aspect, real money means real emotions. There are many articles about it, I found one interesting one that explains very good what I wish to say:
3 Psychological Differences between Demo and Live Trading - https://www.babypips.com/trading/demo-live-forex-20181031.
When you risk real money you know what's on stake, you know that good moves makes your profit bad moves hurts you, and that's a school, you need to learn what is good and what is bad for you if you wish to survive in long run. Article explains that, I figure that out by myself years ago. It good for reading, especially for people who think to try demo or real for the first time.

Im aware of articles made by babypips yet this mostly talks about forex and stock market concerns and all factors connected to it.
When it comes to real and demo trading it will really be different and as said this would be on psychological aspect since you know that
you would lose money if you wont trade well.Carelessness level will be different between the two.Platforms that do offer demo trades
is good but as said earlier i cant see this much on crypto market.

[davinchi]

I can't resist sharing this with you:
https://twitter.com/i/status/1222874359687262208
Source: https://twitter.com/crypto_blkbeard/status/1222874359687262208

I never understood people who like to use demo versions, especially people who trade or gamble with a demo version! Why would anyone do that? I think it's exactly like in this gif, it's what demo is, you are doing something but actually you are not doing anything! Better spend couple dollars and get the feeling of the real deal than to fool around.

Trading with real money actually helps, but what of those who can't take risk or can't afford to lose even a little amount?
I guess the available demo trading sites could use the carrot and stick to keep their users from becoming too complacent. Practicing with demo is safer approach to many/most people.

There is no doubt in this. Practicing trading with real money would only give you profits if you have any knowledge about trading. How could you start trading with real money if you have just started with trading? You need to gain a lot of knowledge before you could start with trading.

There are some major points which needs to be considered before investing real money in trading. You also need to understand the risk management which would help you to minimize your loss. Demo trading would only give you immense experience which would not charge back anything in return so it is a best head start for newbies who want to develop their career as a trader.