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- 1. Compare 9 best crypto demo accounts for trading in 2023
- 2. The 9 best cryptocurrency demo accounts 2023
- 3. What are the best crypto practice trading accounts?
- 4. Top 9 crypto demo trading accounts reviewed
- 5. What is a crypto demo account?
- 6. Why do you need to use demo accounts for crypto trading?
- 7. How to use a cryptocurrency demo account?
- 8. How should I choose a demo crypto trading account?
- 9. Should I use a crypto practice trading account?
- 10. Methodology: How did we choose the best demo crypto accounts?
- 11. FAQs
Compare 9 best crypto demo accounts for trading in 2023
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82% of retail CFD accounts lose money.
Many of the best crypto exchanges offer a free demo account so you can sharpen your trading skills while using virtual funds. Our cryptocurrency experts have tested, reviewed, and ranked the best crypto demo accounts and you can find the top options on this page.
The 9 best cryptocurrency demo accounts 2023Copy link to section
What are the best crypto practice trading accounts?Copy link to section
You can find out top rated crypto paper trading accounts below. These trading platforms all offer free demo accounts and you can register in just a few minutes. Click on any of the links to get started or keep scrolling to learn more about each exchange.
77% of retail CFD accounts lose money.
Top 9 crypto demo trading accounts reviewedCopy link to section
1. eToro. Best for beginners, copy-trading & demo-account
Pros & Cons
We love eToro because it makes it simple to trade crypto at home or on the go. If you’ve never bought cryptocurrency before, then eToro makes it simple to buy 75+ of the leading coins, including the likes of Bitcoin, Ethereum, and Dogecoin. Every crypto trade comes with a flat 1% fee, which makes it one of the cheapest crypto brokers on the market to boot.
As well as being a broker that offers lots of investor protection, eToro offers a very social trading experience. You can easily see what’s trending on the crypto market every day, browse the latest technical analysis about every one of those tokens, and copy other people’s trade suggestions from your desktop or the eToro app.
The fees: You will be charged a 1% fee every time you buy or sell crypto. The charge is included in the market price that’s displayed on eToro. CFD trades may be charged an overnight or weekend fee if you leave the position open.
77% of retail CFD accounts lose money.
2. Public. Best for sharing beginner trading ideas
Pros & Cons
We love Public because it’s a social platform where you can share trading tips and get ideas from other people. Public offers 9,000+ financial instruments, including cryptocurrencies and stocks from around the world.
Alongside a community of other investors all sharing their ideas, Public offers real time news and information so that you can see the full picture before you invest. And the assets don’t just include your run-of-the-mill assets; you can make alternative investments in things like handbags and comic books as well.
The fees: Cryptocurrency trades are charged a 2.5% fee per transaction.
3. Uphold. Best for building long term wealth
Pros & Cons
We love Uphold because it’s a regulated and transparent digital asset platform. There are 160+ cryptocurrencies available to hold and trade, along with three fiat currencies; GBP, EUR, and USD.
Uphold’s key features include the ability to schedule transactions to avoid trying to time the market. With a focus on long term wealth building, Uphold also offers the ability to earn rewards of up to 25% on staked crypto, as well as 4% cashback paid in XRP for purchases made with the Uphold card.
The fees: Crypto spreads start from 0.9% and are usually lower than 1.3% for BTC and ETH. Other cryptocurrency spreads are higher. Average spreads on fiat currency are 0.2%. There is a $0.99 fee for transactions under $100 made with the Uphold card.
4. OKX. Best for futures and margin trading
Pros & Cons
We love OKX because it’s an adaptable and flexible exchange, with an app that’s available in three different versions depending on how you trade. Choose from the beginner-friendly Lite version, Web3 option for NFT traders, or the Pro version for a plethora of trading tools.
From an app or desktop you can trade 350+ crypto coins on one of the world’s top crypto exchanges. You can fund your account easily, through a variety of simple payment methods, and a sliding scale of fees that means you can access discounts by holding the OKB token or trading high volumes.
The fees: Regular users pay a 0.1% fee on spot crypto trades. OKB crypto holders are entitled to a discount, up to 0.02% off for holding more than 2,000 coins. High volume traders are also entitled to a discount, with the cheapest fees available for traders with a 30 day trading volume above $10,000,000,000.
5. Nexo. Best for earning interest & rewards
Pros & Cons
We love Nexo because you earn rewards every time you make a purchase. You can trade 60+ cryptocurrencies and earn rewards of up to 0.5% on every transaction, then store your coins on Nexo to build your wealth through passive interest payments.
You can trade on the go from a mobile app and Nexo is designed for simplicity. Every trade is locked in at the rate you see on your screen, so you won’t suffer from price slippage, and it has the added bonus that any crypto held in your account automatically starts to earn interest.
The fees: Nexo charges a 2% spread on buy and sell transactions. There are no fees for storing coins in your Nexo account. Depending on your loyalty tier, you receive a fixed number of free withdrawals, and any additional withdrawals will be charged a network fee.
6. KuCoin. Best social trading altcoin exchange
Pros & Cons
We love KuCoin because it;s a great place for beginners to trade more than 700 altcoins. KuCoin is a social trading platform with 20+ million investors worldwide in 200+ countries.
KuCoin’s beginner zone offers up rewards up to $500 for new users. The rest of the platform has plenty of features for the crypto enthusiast: a staking service to earn money on your stored crypto, an NFT marketplace, and margin trading features to buy leveraged tokens.
The fees: Trading fees are charged on a sliding scale. Fees are 0.1% on trading volumes below 50 BTC in a 30 day period. Discounts are available if you pay fees in KCS or store more than 1000 KCS in your account.
What is a crypto demo account?Copy link to section
A crypto demo account is a simulated platform that lets you trade with virtual funds. It simulates real market conditions so that you can practice crypto trading without putting any real money at risk.
Crypto paper trading accounts come with a virtual balance that can be used to buy and sell different cryptocurrencies. A demo crypto trading account is a helpful tool for beginners who want to learn how to trade crypto in a risk-free environment. Experienced traders can also use a Bitcoin demo trading platform to test new strategies.
Why do you need to use demo accounts for crypto trading?Copy link to section
There are lots of reasons you may want to use a paper trading crypto account. Not only do they offer a risk free environment for learning, but they offer several other benefits, some of which we’ve explained below.
- Practice trading strategies without financial risk. Demo accounts allow you to test out your trading methods and find strategies that work for you before risking real capital. This gives you room to learn from mistakes without using a live trading account.
- Become familiar with the markets. Trading demo crypto allows you to understand market movements, volatility, and technical analysis without putting skin in the game. Crypto markets are highly volatile, especially compared to traditional asset classes, so it’s always a good idea to practice trading in simulation mode.
- Master a trading platform. Demo accounts let you learn the interfaces and features of exchanges and trading apps. You can gain confidence in navigating the platforms before trading with real money. Platforms like TradingView are very popular with retail crypto traders and comes with a free demo account.
- Control emotions. You can practice maintaining composure and sticking to trading plans during demo trading. Developing discipline early is key to eventual success with live trading. This is especially important in the crypto industry, which is notoriously volatile.
- Build experience. There is no better way to gain experience analysing charts, executing orders, and day trading than putting in time with a demo account. Starting to trade crypto can have a steep learning curve and paper trading is the safest way to learn.
- Test strategies. The best traders continually backtest their strategies. Demo accounts provide a good testing environment before deploying systems with real money. Many of the best crypto demo accounts also offer backtesting software within their platforms.
How to use a cryptocurrency demo account?Copy link to section
Virtual cryptocurrency trading accounts are easy to set up and use. Follow the steps in the guide below to get started with a crypto demo trading platform.
Step 1. Choose a virtual crypto trading accountCopy link to section
First, choose a crypto trading platform that offers a demo account. We recommend a secure, reliable exchange, such as eToro
Step 2. Create an accountCopy link to section
Follow the onscreen registration process to create your demo crypto trading account. This usually involves providing your name, email, address and setting a password.
Step 3. Verify and activate your accountCopy link to section
Many crypto exchanges require you to verify your account by clicking a link sent to your email. You may also have to verify your identity, so have a photo ID like a passport or driving licence to hand.
Step 4. Turn on virtual crypto tradingCopy link to section
Go to your account settings and flick the switch that allows you to enter demo mode and trade with virtual money. This is usually just an on/off or real/virtual button. You can flick between a real and a virtual crypto trading account.
Step 5. Choose your crypto and place your tradeCopy link to section
Once you’ve got to grips with the platform basics, you can select which market you want to trade. The best crypto trading demo accounts have all the big coins like Bitcoin, Ethereum, and Dogecoin.
Place your first trade by selecting the cryptocurrency you want to buy or sell and entering the amount you want to trade. You may also have to specify the price and order type.
Step 6. Monitor and review your tradesCopy link to section
Keep track of your open trades and analyse their performance through your virtual portfolio screen. You can use the Bitcoin demo account charting tools to help with your market analysis.
You can also review your trading history to see which trades were profitable and which were not. This will help you identify patterns in your trading strategy.
Step 7. Practice different strategiesCopy link to section
As you’re using virtual funds, try trading crypto with different strategies and techniques to see which works best for you. You can experiment with different options to see how they affect your trades.
If you’re successful, it may be time to move to a live account.
How should I choose a demo crypto trading account?Copy link to section
The most important feature to look out for a is a realistic trading experience. To get the most useful feedback and experience from your crypto trading practice, it’s vital that you can buy and sell digital assets in live market conditions.
There are several other features to consider when choosing a virtual cryptocurrency trading account. Use the list below to help you make a decision about what’s best for you.
- Reputation. Look at online reviews and feedback from other traders to ensure that the Bitcoin demo trading platform you go with has a good reputation in the cryptocurrency industry. You can use many independent review sites to find reliable information.
- User interface. When you’re just starting, you want to ensure that your platform has an easy-to-navigate interface. Even if you’re an experienced trader, an easy-to-use interface will make your demo trading much more productive.
- Support. Look for a platform that has good customer service. The easiest way you can find out is by contacting support staff by email or live chat before registering your account. This way, you’ll know how well they respond before joining.
- Available coins. Use a practice crypto trading account that has a good selection of cryptocurrencies available to trade. This will allow you to experiment with different assets in a simulated trading environment. You can learn how each token’s price moves and how the market reacts to various events. All of this is crucial information to learn before you start trading for real.
- Trading tools. The best demo crypto trading accounts have lots of charting and analysis tools. Take the time to use as many as you can to find what works for you. Advanced trading tools and features can help you analyse the crypto market and make informed trading decisions.
Should I use a crypto practice trading account?Copy link to section
Yes, virtual cryptocurrency trading accounts are an excellent way to practice your trading skills and are suitable for both beginners and experienced users. A Bitcoin demo account lets you experiment with different trading strategies and techniques, try out other coins, and get a feel for how the market works, all in a risk-free environment.
Demo crypto trading platforms can also help you familiarise yourself with a new platform’s features, tools, and interface before committing real funds. Trading in a simulated market environment is the easiest way to improve your skills, practice new techniques, and learn what works for you.
What are the risks of using a virtual crypto trading account?Copy link to section
Overconfidence is the biggest risk many users face when using a crypto trading demo account. When trading with virtual funds, it is very difficult to replicate the emotional aspect of trading, which can lead to some traders falling into the trap of thinking it’s easy when they move to a real trading account.
Here are some benefits and risks of using a crypto demo account.
ProsCopy link to section
- Practice with virtual funds, without risking real money
- Learn crypto trading, test new strategies, compare different trading techniques
- Learn how to use a new crypto platform
- Large choice of coins available
What are the fees for using a virtual cryptocurrency trading account?Copy link to section
Using a Bitcoin demo trading account is free and you will not be required to pay any fees. All the best crypto exchanges offering practice accounts do so without charge. Many are limited to a certain amount of time so your demo crypto trading account may expire after a few months, but you can always open a new one with a different email address.
Methodology: How did we choose the best demo crypto accounts?Copy link to section
Helping people make better financial decisions is at the heart of our mission at Invezz.
We periodically test more than 48 cryptocurrency platforms to provide our users with clear, accessible guidance on the demo accounts available. All testing is carried out by our panel of crypto experts, analysts, and active traders who sign up to each exchange, conduct research, and score each service.
Our tests are designed to find crypto exchange platforms that offer demo account, alongside a beginner-friendly, secure trading experience at a fair price. To supplement our practical testing and experience, we research each exchange to gather any further relevant information. We read online customer reviews, app reviews on the Play Store and App Store, and conduct user surveys to get feedback from real people about what works, and what doesn’t.
Each crypto exchange is awarded a final score based on 130+ data points across 8 ranking categories: cost, reliability, user experience, deposit & withdrawals, investing options, range of products/markets, research & analysis tools, and the availability of educational & learning resources.
We work closely with individual crypto brands to ensure all factual information displayed here is accurate. All data is then fact-checked by an independent reviewer. You can learn more about our expert panel and how we test, rate, and review platforms in our review process.
FAQsCopy link to section
Yes, the best crypto exchanges offer demo accounts so that you can practice using virtual funds. Use our comparison table above to find the best rated demo crypto platform.
Our cryptocurrency trading experts reviewed several of the largest exchanges and ranked eToro as the best demo trading account. You can learn more about the features available on eToro using our review above, or register an account to get started now.
The easiest way to practice crypto trading is by using a free demo account. When you use a practice account, you can demo trade crypto in live market conditions with virtual funds. This way, you can practice crypto trading without risking your own money. Use our comparison table to find the best demo crypto trading platform.
The best app to practice crypto trading is eToro. It’s our experts’ top ranked demo crypto trading platform and you can download its app to your tablet or smartphone and practice your cryptocurrency trading.
You can use eToro to practice crypto trading for free. It’s our experts’ top ranked demo trading accounts crypto platform.
Yes, Binance has a demo account that is very simple to use and set up.
Although Coinbase is one of the best platforms for beginners, it does not offer a demo account. However, you can deposit very little money with Coinbase and practice your skills in a live environment.
Anyone new to crypto trading or looking to test out a particular trading strategy or platform should take advantage of demo accounts to trade with pretend money. Here are some examples of who can benefit:
- Beginner traders just starting out should use demo accounts to learn technical analysis, practice trading psychology, and understand how the markets work. Starting with fake money allows beginners to gain competency before putting real skin in the game.
- Experienced traders jumping into crypto for the first time. Even if you have experience trading stocks or forex, the crypto markets have unique attributes. Demo trading can help experienced traders adapt their skills while avoiding costly mistakes.
- Technical analysts testing trading systems should run strategies on demo accounts to determine their profitability before using real money. Demo trading provides an environment to perfect a plan.
- Investors checking out a new exchange should first take the exchange’s demo account for a test drive. Trying out the platform with demo funds allows users to navigate the interface and ensure it meets their needs.
Yes, reputable crypto exchanges and trading platforms typically offer free demo accounts for you to practice trading with virtual funds. Here are some reasons free demo accounts are provided.
- Promote the platform. Exchanges want to encourage new users to try out their platform, so offering free access helps attract sign-ups. Demos allow traders to test drive the platform’s services before depositing real funds.
- Build skills. Exchanges want to enable new traders to learn properly, so they offer free practice accounts. Traders can develop better habits by starting on a demo. Profitable traders are generally good for exchanges, as the longer someone trades, the more money the exchange will make from commissions and fees.
- Reduce risks. Allowing people to practice for free reduces risky behaviours by new users that could lead to losses and complaints, and demos promote responsible trading.
- Gain customers. Once traders become comfortable through demo trading, they are more likely to fund a live account and become paying exchange customers
Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >