Can you test your trading strategy before implementing it in the real market? It is possible to do this with cryptocurrency simulators. It is a known fact that the crypto market is very volatile, and investors will find it hard to start earning profits right away. Cryptocurrency simulators are tools that will let you test your skills before you invest a fortune.
Why are cryptocurrency simulators useful?
Traders on the Bitcoin Loophole exchange often find it hard to know the right time to execute trades, especially when the market is so very volatile. As a result, many traders lose out on the bigger deals primarily because they are either apprehensive, or they trade when the timing is not right. You cannot control volatility, but you can definitely learn the tricks of trading to interpret market conditions correctly. With cryptocurrency simulators you can start learning and practicing trading free of cost before actually using your digital assets.
Best cryptocurrency simulators and how these work:
- Bitcoin Mining Profit Calculator (BMPC) is a highly-recommended simulator for the beginner and it is more like an interactive game. There is a comprehensive introduction to the Bitcoin and trading aspects. You will find all the latest Bitcoin news and prices here.
- Bitcoin Hero is perfect for investors who are not looking for tutorials online and keen to take the plunge right away. This app works well even on smartphones and you may play the game without installation. You must however create an account for tracking progress across multiple sessions. The cryptocurrency prices of Ethereum, Bitcoin, Litecoin and Dash are from the real market and so you get a feel of the real thing.
- Altcoin Fantasy allows you trade with others in a competition to get a better insight of crypto trading. You can even earn in-game coins called the ACF Points that you are free to trade in exchange for real-world prizes. This simulator uses real market prices from real exchanges and encourages healthy competition. So, you will have to hone your trading skills to get ahead of the others.
- EToro is a trading app attracting regular investors as well as professionals. You can find successful investors who match your risk levels and you may copy their trades. You can sign up for a practice account before risking real money.
- CoinMarketGame is the perfect simulator that lets you try your hand at multiple currency investments. You can be sure of getting an accurate feel of what a real trader’s life will be like in the real market. You will be provided with a $20,000 starting amount on signing up. You must spend this wisely and create a diversified portfolio. You can view the leader board to see how your rivals are trading.
- Spark Profit is a cryptocurrency prediction game meant for both iOS and Android devices. Here, you can use historical data for predicting positions of coins like Ethereum, Bitcoin or Litecoin. You must either take a short or a long position regarding the market’s future; your aim is to get points by making right predictions. This is a tough simulator to master and offers a reality check that is most beneficial for early investors.