Are you new to trading cryptocurrencies and looking for a way to practice without risking real money? A crypto demo account can be a great tool for beginners to learn about trading platforms, trading features, and strategies.
This article will explore crypto demo accounts, how they work, and which crypto exchanges offer these risk-free accounts. Whether you’re interested in spot trading, futures trading, or trading bots, a demo account exists for you.
Methodology
This guide selects the leading platforms for crypto demo accounts. Platforms were chosen based on several strict criteria, and the selection followed five months of testing by BeInCrypto’s product testing teams. Here’s why each platform was chosen.
Binance
- Low trading fees, making it cost-effective for frequent traders
- Advanced charting tools and APIs ideal for pro traders
- High liquidity and volume for efficient trade execution
- Supports trading on holidays and weekends
- User-friendly mobile app with full functionality
- Comprehensive educational resources for traders of all levels
FXGT.com
- Competitive crypto exchange fees, ideal for budget-conscious traders
- Offers a diverse range of trading instruments, including forex, commodities, and cryptocurrencies
- Multi-currency accounts for flexibility in trading and deposits
- Frequent bonuses and promotional offers for traders
- Fast and reliable trade execution with minimal slippage
Uphold
- Seamless integration with banks and cards for easy deposits and withdrawals
- Supports crypto trading on holidays, providing flexibility in trading hours
- Transparent pricing structure with no hidden fees
- Instant transfers between Uphold accounts for quick transactions
- High security with multi-layer encryption and robust user authentication
Kraken
- Low trading fees, appealing to both casual and high-frequency traders
- Advanced trading features such as margin trading and futures
- Extensive range of supported cryptocurrencies for diverse trading
- Robust security measures including 2FA and global settings, lock
- Comprehensive educational resources to help traders improve their skills
OKX
- Extensive selection of cryptocurrencies for diverse trading opportunities
- Advanced trading tools and features for pro accounts
- Supports futures and options trading for advanced trading strategies
3Commas
- Smart trading terminal integrates with multiple exchanges for comprehensive trading
- Advanced trading bots for automation, allowing hands-free trading
- Real-time market data ensures up-to-date trading decisions
- Detailed backtesting capabilities to refine trading strategies
- Comprehensive analytics tools for in-depth market analysis
Bitsgap
- Arbitrage trading opportunities across multiple exchanges
- Automated trading bots for continuous trading
- Real-time market data for accurate trading decisions
- Detailed portfolio management to track and analyze your holdings
- Integration with numerous popular exchanges for diverse trading options
Bybit
- Low trading fees, ideal for active traders
- High liquidity for major cryptocurrency pairs
- Advanced trading features such as leverage up to 100x for derivatives
- 24/7 customer support for immediate assistance
- Regular updates and improvements based on user feedback
eToro
- Social trading platform with copy trading feature, perfect for beginners
- User-friendly platform designed for ease of use
- Advanced charting tools for detailed market analysis
- Strong community and social features for shared learning and insights
- High security standards, including SSL encryption and 2FA
BYDFI
- Competitive trading fees, making it accessible for all traders
- Leverage trading options for amplified potential returns
- Robust security measures, including cold storage for assets
- Intuitive and user-friendly interface suitable for all trading levels
- 24/7 customer support for continuous assistance
- Mobile app with full functionality for trading on the go
- Educational resources available to enhance trading skills
Cryptohopper
- Advanced trading bots for automated trading
- Supports multiple exchanges for diversified trading
- Real-time market data for accurate and timely trading decisions
- Detailed analytics and reporting tools for in-depth analysis
Margex
- Low trading fees, appealing to both casual and frequent traders
- No KYC required for trading, ensuring privacy
- Advanced trading features for pro accounts
- Strong security measures including multi-signature wallets and cold storage
- Educational resources available to enhance trading knowledge
StormGain
- Zero trading fees, making it cost-effective for all traders
- Leverage up to 300x for high-risk, high-reward trading
- High security standards to protect user funds and data
- Loyalty program with bonuses and rewards for active traders
TradingView
- Comprehensive charting tools with a wide range of technical indicators
- Supports multiple exchanges for diverse trading opportunities
- Real-time market data for accurate analysis
- High customization options for a personalized trading experience
- High security standards, including SSL encryption and secure servers
*KuCoin
- Low trading fees, ideal for both casual and high-frequency traders
- Advanced trading tools and features for pro accounts
- Margin and futures trading available for advanced strategies
- User-friendly mobile app with full functionality for trading on the go
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- Top crypto demo accounts in 2024
- 1. BYDFI
- 2. Binance
- 3. Uphold
- 4. Kraken
- 5. OKX
- 6. 3Commas
- 7. Bitsgap
- 8. Bybit
- 9. eToro
- 10. FXGT.com
- 11. Cryptohopper
- 12. Margex
- 13. StormGain
- 14. TradingView
- 15. *KuCoin
- Crypto demo accounts compared
- What is a demo account?
- Why do you need a demo account?
- Jumpstart your trading journey
- Frequently asked questions
Top crypto demo accounts in 2024
1. BYDFI
BYDFi (Build Your Dream Finance), formerly Bityard, is a relatively new exchange that started in 2019. It offers spot, derivatives, copy trading, and lite contracts, which are BYDFI’s version of demo trading. As a derivative investment tool, Lite Contracts allows investors to trade the price movements of various financial assets such as stock indexes and commodity futures.
Traders can speculate on various financial markets by trading Lite Contracts without holding the underlying assets in the relevant markets. The demo trading feature allows you to trade over 70 different assets. However, each asset has limits.
Every asset has a specific trading limit. These limits are based on leverage, with KYC and without KYC. Naturally, KYC will allow larger trading volumes than the latter.
– Up to 125x leveraged trading
– Stop loss and take profit
– Trigger orders (limit orders)
– $100,000 in demo funds
– Lite contracts are made simple and easy for newcomers to understand
2. Binance
Binance offers traders an extensive range of products and services, plus access to a huge selection of altcoins. The platform offers a demo account with a virtual balance to assist new traders with leverage trading.
Users can hone their trading skills using advanced chart analysis tools and order types such as market, limit, stop limit, stop market, trailing stop, and post only. At the same time, you can practice your futures trading strategies on this demo account. Binance offers USDT perpetual contracts with up to 125x leverage. Users can speculate on more than 233 crypto trading pairs without taking any risks.
– Access to a trading account with a balance of 15,000 USD
– The user interface looks the same as the live trading interface, with a few details to tell them apart
– Offers advanced trading techniques and futures trading
– Useful for both beginner and advanced traders
– Demo account (called “mock trading”) can be activated in the settings
– Accessible through the Binance website or mobile app
3. Uphold
Uphold is a crypto exchange that allows users to gain access to cryptocurrencies. The platform has multiple licenses and is regulated in the U.K. and the U.S. In addition to cryptocurrencies, you can also purchase precious metals and fiat currencies.
Precious metals include gold, silver, platinum, and palladium, while fiat currencies include USD, GBP, CAD, and EUR. In addition to the assets, Uphold also has a sandbox feature for building and testing applications on the Uphold platform. Here, users can test strategies without risks.
– Bitcoin faucet
– Sandbox API
– Test environment for building applications
4. Kraken
Kraken Futures offers a useful demo platform that allows users to experience futures trading without the risk of using real funds. The option allows users to experiment with futures trading, providing a useful introduction to the possibilities of derivatives.
– Multi-collateral wallet (use a variety of collateral types to manage all of your positions)
– Support API trading
– Use futures to hedge against spot market volatility
– You may make a profit regardless of the way the crypto market moves
Terms Apply. Cryptoassets are highly volatile. Your capital is at risk.
5. OKX
Users can choose to trade spots or derivatives on the OKX demo account, which provides an opportunity to learn about leverage and how to manage funds. Consecutive trading sessions on the demo account can help traders keep emotions in check and learn to make decisions based on logic.
Experienced traders can also use the demo account to test new strategies and become more comfortable with the OKX user interface. The demo account’s interface is almost identical, with a few labels that let the trader know they’re in the demo account.
– Simulated trading environment for top cryptocurrencies
– The demo account starts at $9,000
– Practice with different order types, including market, limit, stop-limit, and more
– Provides an opportunity to test out different trading pairs and markets
– Easy-to-use interface with step-by-step tutorials for spot, futures, and perpetual trading
– Ability to transition from demo trading to real market trading seamlessly
– Resources for learning more about trading, including a beginner’s guide and tutorial on crypto derivatives
6. 3Commas
3Commas is a trading bot that provides a central console for monitoring your exchange accounts. The platform also allows manual trading for those who prefer to be more hands-on. 3Commas is available on desktop, iOS, and Android. It offers four different plans, one of which is free. Additionally, the platform allows integrations of up to 18 exchanges. You can use the Grid bot, Futures bot, or DCA bot to fit your specific trading needs.
– Up to 1500 active bots
– TradingView custom bot messages
– Create and integrate your apps
– Trailing features have the best result
– Fee simulation
– Simulates Binance spot markets
7. Bitsgap
Bitsgap is one of the platforms pioneering AI-powered trading bots. Users may place trades across all their linked exchanges from a single account. More than ten major cryptocurrency exchanges, including well-known market heavyweights like Binance, Kraken, Bitfinex, Poloniex, and Coinbase, have interfaces available for your use.
The platform provides a wide choice of active trading bots, such as Grid bots and bots, to accommodate various trading methods and preferences. The demo account offers a straightforward avenue for traders to practice and refine strategies.
– Portfolio management
– Real-time market data
– Virtual funds
– Market and limit orders
– Multiple exchange integrations
8. Bybit
Bybit is a popular cryptocurrency derivatives exchange that was established in 2018. It offers an industry-leading demo trading account (called Bybit Testnet) and supports MetaTrader 4 or MT4, making it an excellent option for those familiar with forex trading.
With MT4 support, traders can perform automated trades, back-test strategies, and advanced technical analysis. Bybit also provides advanced analytical tools and customization for a better trading experience.
– Users receive Testnet coins through various faucets
– Clean interface that provides access to crypto prices and other essential metrics
– Bybit Learn site is available for new traders to learn about crypto and trading strategies
– Bybit’s Copy Trading platform allows traders to copy and execute trades of experts
9. eToro
The eToro demo account is an excellent way to explore the sector of online trading without risking any of your hard-earned money. When you open a demo account, you will be given $100,000 of virtual cash to invest in any asset on the platform. This allows you to experiment with different trading strategies and test your skills in a risk-free environment.
To begin using the platform, switch your account from “Real” to “Virtual.” This can be done by clicking on the “REAL” text below your profile picture and selecting “Virtual Portfolio.” Once you’ve made the switch, you can start exploring the platform’s features and familiarizing yourself with its functions. The platform is user-friendly and easy to use, but studying its features can help you get the most out of your demo account experience.
Disclaimer
Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. BeInNews Academy is not an affiliate and may be compensated if you access certain products or services offered by the MSB.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more
FXGT allows you to trade multiple financial products, such as forex, precious metals, stocks, energies, cryptos, and more.
The platform uses advanced algorithms to give you access to real-time data, charting tools, and technical analysis options. The platform also has multiple accounts for traders at different proficiency levels, including an easy-to-use demo account.
– 2 demo accounts per currency
– MT4 and MT5 platform
– Over 1000 assets to trade
– Move Stop execution trading tool
– Trade strength analysis tool
11. Cryptohopper
The Cryptohopper demo account offers a paper trading bot. While this simulator may be more complex than other platforms, it allows users to learn how to use a trading bot. The free plan gives access to most of their trading bots and paper trading accounts. Paper trading on Cryptohopper works similarly to regular trading but connects to public data instead of your exchange account. You can deposit up to $100k of any cryptocurrency into this free simulator and experience trading on real exchange with real-time data.
– Automatic trading feature that allows you to initiate efficient trades using algorithms
– Exchange and market arbitrage feature that takes advantage of pricing differentials across more than 70 trading exchanges
– Market-making feature with multiple configurations to help get the best deal.
– Mirror trading feature that allows inexperienced traders to copy proven strategies from trading experts
– Offers a stop-loss feature that captures profits and reduces high-risk chances regarding a reversal.
– The demo account allows you to trade using historical data.
12. Margex
Margex is a cryptocurrency trading platform that caters to individuals seeking to engage in the digital asset markets. It was founded on Aug. 15, 2019, in Seychelles. The platform allows traders and investors to enjoy services, including spot trading, futures, staking, demo trading, and other trading-related activities. It offers a user-friendly and transparent interface, allowing traders to buy and sell crypto seamlessly.
Margex distinguishes itself with a range of features designed to enhance the trading experience and provide added convenience for users. The platform does not charge deposit fees, making it cost-effective for traders to fund their accounts and get started.
– Risk-free trading
– Live demo
– No deposit required
– No sign-up required for demo
– Advanced and user-friendly interface
– Use promo code to get an exclusive, risk-free $100 airdrop to trade
13. StormGain
StormGain is a leading crypto demo account provider because it offers future markets with a 200x margin. This can be extremely risky, as a 0.5% move in the wrong direction can wipe out a trader’s entire position. The StormGain demo account is a great way to get a feel for the platform and understand why leveraging trades should be treated cautiously. The demo account provides standard-looking price charts with indicators. It also allows you to draw and save trendlines that recalculate when the timescale is altered. Another advantage of this crypto demo account is that it will enable trader assets to be liquidated a few times without risking real funds. Not all demo accounts allow this.
– Dashboard with limit orders, stop-loss and take-profit orders, and other tools
– User-friendly layout and easy navigation
– AI with automatic trade alerts and sentiment gauge
– Leverage of up to 1:200 on BTC/USDT pair, up to 1:100 on ETH/USDT, BCH/USDT, and LTC/USDT pairs, and up to 1:50 on other supported cryptocurrency pairs
– Support for trading top cryptos
14. TradingView
TradingView is a highly sought-after cloud-based charting and networking website in the trading and investing world. The platform was initially developed for stock scanning and charting purposes. Through TradingView, users can monitor the historical prices of thousands of trading pairs across various markets on one platform. However, it is not an exchange where one can deposit funds and trade with real money.
Users can activate a demo account to simulate trading and back-test strategies from the community. This feature is best suited for experienced investors familiar with the platform or those who want to learn more about technical analysis. TradingView supports various order types, such as market and limit, and takes profit/stop loss orders.
TradingView gathers data from numerous crypto exchanges, giving access to hundreds of crypto pairs. Another big advantage of the TradingView demo account is the strategy tester feature. It allows you to simulate trading strategies and evaluate results. Moreover, users can customize popular cryptocurrency indicators, draw chart patterns, use overlay tools, and even use custom indicators created by other users.
– Simulated trading and back-testing of strategies and ideas from the community
– Access to hundreds of crypto pairs from various exchanges
– Advanced charting system with the ability to add popular and custom indicators, draw chart patterns, and overlay tools to charts
– Multiple order types, such as market, limit, and stop-loss orders
– Real-time monitoring of active positions and pending orders
– One-stop-shop to chart hundreds of trading pairs and demo trade
15. *KuCoin
Last but not least, KuCoin offers a crypto demo account for individuals new to cryptocurrency trading. This practice account, the Kucoin Sandbox, allows users to create trading strategies and familiarize themselves with the markets.
The platform is known for supporting 600+ tradable assets and providing many services and products for users to make profits, with safety and security measures in place to minimize risks. KuCoin offers a range of products, including spot trading, margin trading, futures contracts or derivatives ETF, and crypto lending. It also provides services such as P2P, trading bots, and special privileges for API users.
The KuCoin demo account provides access to all these features and services, allowing traders to experiment and develop their skills before investing real money.
-Simulated trading environment for top cryptocurrencies.
-The demo account starts with 9,000 USD.
-Practice with different order types, including market, limit, stop-limit, and more.
-Provides an opportunity to test out different trading pairs and markets.
-Easy-to-use interface with step-by-step tutorials for spot, futures, and perpetual trading.
-Ability to transition from demo trading to real market trading seamlessly.
-Resources for learning more about trading, including a beginner’s guide and tutorial on crypto derivatives.
*In 2024, KuCoin is facing charges from the Department of Justice following allegations that the platform knowingly flouted AML rules in the U.S. The company’s legal woes have dramatically dropped its market share, with many concerned users withdrawing funds from the platform. For a detailed overview of the current situation, please check our explanation of KuCoin’s legal status. If you are considering alternatives to KuCoin, explore our recommended exchanges here.
Crypto demo accounts compared
| Platform | Availability | Cryptos |
| Binance | E.U., MENA, APAC, SIC, and 100+ | 100+ |
| FXGT.com | Global except U.S., EU & UK | 19 |
| Uphold | U.S., U.K., & 4+ | 250+ |
| Kraken | U.S., U.K., & 100+ | 100+ |
| OKX | E.U., MENA, APAC, & 100+ | 100+ |
| 3Commas | E.U>, MENA, APAC, SIC, and 100+ | 100+ |
| Bybit | E.U., APAC, & 100+ | 100+ |
| eToro | E.U., MENA, APAC, 100+ | 80 |
| BYDFI | E.U., MENA, and 100+ | 100+ |
| Cryptohopper | E.U., MENA, APAC, 100+ | 100+ |
| Margex | E.U., MENA, and 100+ | 10 |
| StormGain | U.K. & 100+ | 6 |
| TradingView | E.U., MENA, APAC, 100+ | 100+ |
| *KuCoin | E.U. & 100+ | 100+ |
What is a demo account?
Crypto demo accounts allow traders to practice trading cryptocurrencies without the risk of loss of actual funds. They’re ideal for novices who wish to learn the ropes of trading on the crypto market.
Demo accounts allow users to explore the platform, execute trades, and monitor market activity. They are funded with virtual money, which can be used to buy and sell various crypto like a real trading account.
Why do you need a demo account?
A crypto demo account offers traders a risk-free setting to practice and learn about trading. It enables them to familiarize themselves with the trading platform, execute trades in real-time without fear of actual financial loss, or learn what it takes to become successful at trading.
The second benefit of a crypto demo account is that it allows you to test trading strategies. Traders can test different approaches, assess their efficiency, and make necessary adjustments before investing actual funds into them.
“Simple question: How do athletes train? They first practice before going for a marathon or competition. Trading is the same. You need a high level of skill and discipline, which a demo account provides. It removes the emotional connection people have with money as they learn to trade. Often, these emotions influence FOMO and other emotions you would experience when trading with a live account.”
David Kemmerer, Co-Founder and CEO of CoinLedger: BeInCrypto
It goes without saying that a demo account can also help you gain confidence. It allows users to learn from their errors and hone their skills without fear of financial loss. At the same time, it allows any new trader to learn about the crypto market.
Jumpstart your trading journey
Starting to trade crypto can be intimidating, but options are available to help you develop your trading skills in a risk-free environment. By using a demo trading account or paper trading platform, you can simulate real-world trading with virtual funds and explore the various trading features offered by different exchanges and trading bots.
Once you feel comfortable, you can start trading with real money on a reputable crypto exchange. Remember always to define a trading strategy with risk management rules that are repeatable and profitable before you start trading with real money. Additionally, consider using a low-fee crypto exchange to keep trading costs down.
Frequently asked questions
Yes, demo accounts in cryptocurrency trading are highly beneficial for beginners. They allow new traders to practice without risking real money. Using demo accounts, beginners can learn trading strategies and understand market dynamics. This experience helps build confidence and improves decision-making skills in actual trading.
Several exchanges offer crypto demo accounts for their users. Some popular options include eToro, Binance, and Kraken. They all provide a risk-free way to practice trading with virtual funds. These crypto demo accounts allow users to experience the platform’s features and practice trading strategies without risking real money.
No, you cannot trade with a demo account using real money. A demo account is only used for paper trading or simulated trading, which uses virtual funds and is risk-free. Its purpose is to allow users to practice trading skills, test out trading features, and gain trading experience without risking real money.
You can demo trade on platforms like eToro, TradingView, Coinbase, Binance, and others. These platforms offer a crypto demo account that allows you to practice trading without risking real money. It’s a great way to improve your trading skills and test new strategies in a risk-free environment.
Yes, KuCoin has a demo account called KuCoin Sandbox. It allows users to simulate trading with virtual funds and test their trading strategies before trading with real money on the KuCoin exchange.
Yes, Kraken does have a demo account. It is called the Kraken Test Account, and it allows users to practice trading with virtual funds in a simulated environment. Using the demo account on Kraken, you can access all of the trading features that are available on the real Kraken exchange (trading crypto, futures, and trading bots).
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