By | Anna Koretskaya
Trading is not just speculating on the price of assets. A successful trader can make a profit even when the price goes down. To succeed in trading, you should:
- understand how the crypto market works;
- be able to read crypto charts and understand the market trends;
- be able to control emotions and not allow greed, hope, or frustration to guide you;
- practice with a small amount first.
Having all the necessary knowledge about the market is not enough for successful trading. You never know what pitfalls wait for you in the process of trading. It would be good to practice with some kind of cryptocurrency simulator. And we have one to offer you. The WhiteBIT exchange has the option of crypto demo trading. Let’s talk about it in detail.
Cryptocurrency Exchange Demo Account
This feature is helpful for both beginner and experienced traders. When you practice demo trading, you use virtual funds that work within the exchange only. You cannot deposit them or cash them out. It allows you to make mistakes, check your trading strategy thoroughly, find all the pitfalls, and understand how to avoid them in the future.
Demo trading also helps you notice all the opportunities you could miss when trading on the real market. It helps make wise decisions without an emotional component.
Also, with demo trading, you can test all the available tools on the platform and comprehend how to use them efficiently.
One of the biggest differences between a cryptocurrency simulator and actual trading is that a simulator usually works much faster. Due to the load of the network, real market trades may take longer.
To learn more about the cryptocurrency simulator, read the White Blog. The WhiteBIT exchange launched this resource to help users receive more information on the market, educational materials, and guides on how to trade.
