Bitfinex rolls out paper trading of live crypto markets

Bitfinex, a state-of-the-art crypto trading platform has introduced paper trading of live crypto markets. A press release revealed this news on July 6, noting that this feature is a demo account service that lets users practice trading strategies without the risk of losing funds in live accounts.

According to the press release, this feature will be available on newly-created sub-accounts. It will reportedly allow Bitfinex users to trade bitcoin (BTC) in a simulated environment. As such, the traders won’t have to deposit real funds into their accounts. Per Bitfinex, this launch aligns with its goal of facilitating professional trading strategies. This is because paper trading would allow traders to explore the platform’s robust features without risking the loss of funds.

The trading pairs that will be available for paper trading include, TESTBTC:TESTUSD, TESTBTC:TESTUSDT, and TESTAAA:TESTBBB. Apart from these pairs, paper trading will also be available for margin trading, funding, derivatives, and over the counter (OTC) trading.

Sharpening trading skills in a safe environment

Outlining the perks of paper trading, Bitfinex stated that the feature would offer,

Commenting on the benefits paper trading would offer traders, Paolo Ardoino, Bitfinex’s CTO said,

Explaining how to access paper trading, the publication noted that a user should,

Do you think the introduction of paper trading will help attract mainstream traders into the crypto space? Share your thoughts in the comment section below.