12 Best Cryptocurrency Trading Simulators For Crypto Traders

Paper trading, which means trading crypto in a simulated market without having to own any, is common place and should be a go-to thing whether you want to learn how to trade cryptocurrency from scratch or want to automate your trading and must first test those strategies.

With different papertrading platforms, you learn to do spot trading of cryptocurrency or to trade cryptocurrency derivatives of all manner and sizes -- CFDs, ETFs name them all. You can also learn to use basic to advanced order types and to design trading strategies and bots -- including testing of those strategies before you take them live to trade in a real market.

Let us face it: cryptocurrency trading can be risky at times without the knowledge of what goes where. With these platforms, it doesn't have to be: the platforms provide a risky-free environment where you can learn how to trade for yourself and can also get to import and implement those strategies in live trading.

Altcoin Fantasy

Altcoin Fantasy allows you to practice or to simulate trading of different cryptocoins including Bitcoin, Ethereum and XRP. The platform works more like a trading contest platform. Once you sign up for an account, you get virtual unreal USD in your account, which you can use to build a portfolio or simply put. A portfolio would be a number of coins you are interested in or tracking and want to trade.

A trader doing cryptocurrency paper trading can also use research tools provided on this platform to research from over 2000 coins for instance when determining which coins they want to buy just in case they have no idea about which coin they are to buy. You purchase the coins by filtering from the category provided. 

You even get free 4000 Bonus ACF Points from the website if you play nicely and you get winning trades, and these points can be used to unlock prizes and to join contests.

Altcoin Fantasy also features resources and guides that can help you learn how to trade from scratch and learn many other issues about cryptocurrencies as well.

Bitsgap

Bitsgap is a professional cryptocurrency trading tool but it also has trading simulation feature that allows you to simulate a cryptocurrency exchange, all with orderbooks, and it affords you a free demo trading account (14-days trial period) and real market data to learn how to become a pro trader.

With both the professional trading tool and demo trading tool or crypto paper trading account, you get pretty much of the features you would meet on a cryptocurrency exchange when you want to trade cryptocurrency for profit by speculating on crypto prices. You will have trading bots, arbitrage, portfolio management tools, as well as the ability to draw in live crypto pair signal data from different exchanges such as Kraken and Bitstamp.

Being a professional trading tool and at the same time featuring simulation means you can spend time to learn how to trade crypto before actually going ahead and starting trading real and live still on the same platform.

The demo trading platform provides 1 virtual/fake/unreal BTC and allows you to trade any crypto pair such as BTC/EUR and test your strategies. You can use stop loss and trailing order types; view real-time charts for the chosen pair with data drawn from the chosen exchange in real time; and even take time to backtest your own developed crypto trading strategies.

First, on the normal trading tab, you can select the pair you want to trade; select the duration for the chart candles; select from close to 30 indicators including Moving Averages and Bollinger Bands; then you can place limit, market, shadow and stop limit orders.

You also get to view and monitor open orders, balance and positions as well as your trading history, as well as the market order book. Still on the demo account, which is free to use, you can access signals from variety of exchange and trade on the signals, monitor arbitrage from variety of exchanges; and backtest and implement your trading bot strategies and do demo trading using bots.

It is probably one of the most advanced demo trading tools because it even allows you to create or connect your Bitsgap account with your live demo accounts on different exchanges using the exchanges' demo api keys.

You can demo trading for free but to use professional trading features to do real or live trading with the tool, Bitsgap comes at a fee of $19/month for basic subscription that offers $25k monthly trading limit, and $110/month for a Pro account that offers unlimited monthly trading limit.

BitMex

BitMex, which allows people to trade futures contracts of cryptocurrencies like Bitcoin, ETH, ADA, also allows people to practice crypto paper trading via demo crypto margin trading account. Their simulated trading account provides most of the features and tools provided in real trading and is available in Chinese, English, Japanese, Russian, and Korean language.

Cryptocurrency paper trading on BitMEX Testnet requires a separate registration to practice and you are able to fund your virtual account from different sources. With a demo account even as a guest, you get access to contract orderbooks, charts for different pairs, etc. From the trade button, you get to select the instruments you wanna trade, the leverage, place and cancel orders and view price information for different cryptocurrencies. The account tab shows the current available margin balances, trade history and deposit and withdrawal information.

BitMex also provides rich information on their Futures, Perpetual Contracts, and how BitMEX indices are calculated, how positions are Marked, when and how Liquidation occurs, BitMEX Fees, Support and other informative materials.

Coins2learn

Coins2learn also provides a cryptocurrency trading market simulator that has all the charting and trading features and tools you could imagine of, for free. It provides two base currencies on their market: USD and BTC Markets with different pairs. The entire market provides about more than 60 pairs including the popular ones BTC and ETH. 

To start learning how to trade, you have $10,000 virtual and unreal USD money loaded on your account at creation of the account, and this amount is visible on your dashboard. You can then use the  to purchase cryptocurrencies, build a portfolio and make wise investment decisions as you improve by minute.

Lets say you are interested in learning how to trade BTC cryptocurrency. You would first use your USD to buy BTC on the spot market using market or limit order, then you use that BTC to trade on analyses. You click on the "Market" tab to access the trading simulator then locate the BTC/USD pair. You can also place stop limit orders in addition to stop and market orders. There are only three types of orders which to trade with, which should get you started well enough to learn and become an intermediate trader. You are able to access the orderbooks as usual and gauge the strengths of the markets.

The simulator features charting tools similar to one provided by TradingView: you can choose what candles to use, the duration, and the indicators. You can chart trendlines, open long positions, and gain insights from use of patterns such as Cypher and Triangle.

One best thing about Coins2learn is that it has social tools to take your trading lessons and tutorials to the next level. First of all, you can follow and get to be followed by other cryptocurrency traders and then the second good thing about social trading enthusiasts on this platform is that they do share sell and buy signals from and to other traders. Once you follow a trader or even before you do, you can subscribe to be receiving their signals and some of these signals help you learn how to make actual trades and even win tournaments and leagues on this platform.

If you want to sell or buy signals, you can sort them out and order or sell them based on whether they are ROI, Level or other types of signals. Signals are bought and sold in real cryptocurrencies not fake money or crypto. If you want to buy you just select from the available signals and if you want to sell you would need to device and publish your own, then set a price tag for your signals.

Social trading feature allows you to find a mentor who can teach you how to trade and even use signals although the platform has basic tutorials on their use. You basically have access to Coins2learn.com platform's most successful traders and that's where you get to select your mentor. You just find one and subscribe to their signals, although you can still get to see their dashboards and moves they are making after you make payment in real cryptocurrency in order to get access. Those buying your signals also can pay you to access your signals and dashboard.

One good thing about Coins2learn is that you can convert those learned strategies used in crypto paper trading or trading of unreal money to trading real money and real crypto in a real live market. You also get to access copy trading feature that allows you to view your mentor's dashboard and you can copy their trading in trading of real cryptocurrencies on markets such as Binance. You connect these exchanges using your keys. You can monitor your coins and previous trades when copying mentors.

There is also lots of opportunities to earn real cryptocurrency on the platform, besides selling signals. You can become an affiliate, or participate in leagues and earn real Bitcoin rewards.

Cryptohopper

Cryptohopper is an automated cryptocurrency trading bot that allows you to trade your crypto automatically from different exchanges. You get to connect your exchange account using the API keys. It allows people to make their own trading bots or trading strategies and/or to buy from their peers and they can run those bots on a 24/7 basis on their favorite exchanges. Cryptohopper is a professional trading platform featuring auto trading with bots, arbitrage trading, mirror trading, market making bots, trailing stops and paper trading.

Cryptohopper allows users to use paper trading to test out new strategies they design or buy, prior to implementing them on your exchange hopper in live trading. Therefore, many traders use the simulator to test the strategies they buy, before they can implement them in a live market.

Anyone can create their own trading sell and buy strategies using trading indicators on the platform and then sett when to buy/sell what. You can also edit strategies bought from the market or even trade your own strategies. You also get to perform backtesting of your strategies to check how the strategies would have performed in the past, which shows you where the strategy would have bought and sold your coins and give yourself an indication of how it might perform in future. 

From the dashboard, you can track performance of your portfolio, profits made during a specified time, global stats such as most traded coins and daily profits average etc. Charting tools provided by the platform also allows you to perform technical analysis in order to make important market decisions.

You can also participate in contest and win real world prizes and money.

CryptoSpaniards Simulator

CryptoSpaniards Simulator allows you to simulate trading or do paper trading of Bitcoin and 76 other cryptocurrencies, and you are able to play investment strategies live without having to risk your real money before you can do real trading. Starting with $10,000 USD virtual or unreal money (which is customizable from $100 to $1M), the simulator allows you to practice doing Limit Buy Orders, Stop Loss, and Take Profit types of orders.

The simulator also features contests in which you can compete with other investors without any risk and then get prizes if you win from your smart trading decisions and portfolio management.

It has some social features, for instance you can track best ranked investors, view the amount they have invested in total and their coin portfolio, as well as the market moves they have ever made in a given competition including the coin they bought, the amount they bought or sold and the coin price at the time of buying.

Another social feature provided by CryptoSpaniards is the forum on which you can discuss matters in English and Spanish. You can post a topic on the forum to start a discussion a discussion and discussions include cryptocurrency, trading and off-crypto matters. The forum, together with the telegram channel, allows you to interact with other community members. You can actually get trading strategy and make trades.

You can also check the latest sell or buy activity including who performed it, the coin they bought or sold, the price and the value and date.

eToro

eToro social trading app allows you to trade ETFs, CFDs, currency pairs, indices and commodities as well as cryptocurrency via CFDs. It is a place where you can trade some of the top stocks including FB, Twitter, Amazon, Google, Apple and the rest.

eToro is called a social trading tool because it allows people to copy trades of other traders in addition to providing portfolio management and price-watching tools. You also get news feeds from the market regarding what's happening in the crypto industry, and which can affect your trading decisions and moves.

How it works once you sign up is you activate the virtual or demo account and then you get an unreal USD or virtual balance with which you can trade cryptocurrency that you desire. Once you select the desired crypto that you want to demo-trade, you can access the news feed about that particular coin, then the stats (daily, weekly, monthly up to all-years chart), and then some research done on the same coin -- which is unfortunately available for people who have funded their accounts.

The stats button allows you to view coin information such as previous closing price, day's price range, 52-week range and the yearly return. You also get an explainer of the crypto in question including what it is all about. Then you get to click trade if you want to buy or sell, and on this tab you can place stop loss, leverage, and take profit orders. From the watchlist, you get to watch the cryptos of your choice and from portfolio tab you can monitor your crypto portfolio. For instance, you can monitor performance of your crypto portfolio.

From the copytrading section, you get to select the investor from who to copy trade moves and from which markets, for instance crypto or stocks. To copytrade, you start by selecting the market you are interested in say crypto or stocks, the desired location of the investors you want to copy, the gains they made in percentage and duration say in the last two months. These parameters are used to search for investors you want to copy, so after selection of the parameters you access a list from which you can select one and then click copy to copy their trades. For each of the investors in the list, you get to see the returns they made before you can copy trades from them. While copy trading, you can set the desired amount to trade and determine when copying stops, say when the value drops below a certain price mark.

eToro allows you to access your live portfolio from the same account and you can trade ETFs, CFDs, currency pairs, indices and commodities while learning how to.

Fxopen.com

Fxopen.com allows real trading of forex and cryptocurrency contracts but also has demo trading features that helps you to learn how to trade each of the two types of assets. It allows you to trade with ECN accounts, STP accounts, Micro and then there are Demo accounts that allow you to simulate trading in order to learn trading or test your strategies. You can use MetaTrade 4 and 5, Mobile trading, Trader's Tools and Web Trader. Forexbrokers.com was founded in 2003. The platform lets you trade Bitcoin, Litecoin against the US Dollar, Euro or Russian Ruble in the form of CFDs.

So, straight to the Demo account: you can open either a Forex demo account or a crypto demo account. Both are similar to the real trading accounts on the platform and replicate live trading environments for both Forex and crypto, but there is no real-money deposit required. So you learn without risks.

While learning to trade, you get to use real market data to learn how to trader using demo accounts. On creating an account on the website, you go to "Add account" and then select "Demo Crypto" account. You can select initial balance and then your account is set up with a login username and trader password.

You can then download and install MetaTrader and other trading platforms on your computer and this is what you are going to use to demo trade crypto.

With a demo account that simulates a real trading account, you get charting tools, pretty almost every other order type you would think of when trading crypto, and social trading features. The platform prepares you to use professional trading tools such as MetaTrader, to which you can connect your crypto exchange accounts. Of course, since FxOpen allows cryprocurrency CFD trading and spot trading of crypto, you also learn on how to trade and test crypto derivatives on the same platform before you can live trade it.

Trading CFDs lets you aggregate liquidity and hedge the risks of client's exposure. With a demo account, you learn to do scalping, hedging and all types of expert advisors are allowed just as in live trading of crypto CFDs. You learn the details of Swap and swap size. With the demo account, you can teach yourself how to use signals, both free and paid, in trading crypto CFDs.

Niffler.co

Niffler.co isn't just a cryptocurrency trading simulator used by people to learn how to trade crypto: it also allows the user to earn crypto rewards even as they simulate their trading and learn how to trade on the platform. It offers a life and real time simulated cryptocurrency exchange, free learning community where users can share knowledge and experience and their cumulative successes with others to help one another succeed in learning of or actual trading of crypto, and makes learning crypto trading a bit more of fun and real since traders can earn while learning to trade thanks to the Niffler Rewards Program. It suits both beginner traders and advanced traders alike.

As a professional trader, you can also receive a verification badge as a Proof of Experience showing you earned an excellent track record performance.

On opening the account, you get free $100,000 unreal or fake or Play USD to kick off trade self-taught lessons but need to invest the amount wisely as you learn. You can select from 16 crypto-crypto and crypto-USD pairs on this simulator in order to start trading. Once you do that, you can buy the crypto with the Play USD balance either using limit or market orders.

As you buy or sell based on your market speculation, you can post text or links that will be shared on the community board, in order to let others know about your trade and moves, but that's optional. For instance, if you wanna go social, you can type in the rationale or thought behind your recent purchasing of a crypto in question, say Bitcoin. You can also choose to make that private or public.

Another social feature is that you are able to follow traders and their trading moves and postings and get more traders following you. Niffler also provides a leaderboard where you can check weekly and monthly top performers in trading of crypto and all-time best performers in trading. The platform also hosts different contests which are sponsored by different companies and Niffler itself, in which winners can earn prizes

By purchasing one or more crypto, you can build your crypto portfolio on the platform, whose balances you also get to track from the dashboard. From the dashboard, you can also track stats such as your trading history, profit/loss since you started trading, and average profit. The simulator also provide crypto news and crypto price tracking. From the Cryptocurrencies tab, you can use variety of charting tools drawn from TradingView and can do charting to infer your trading actions and market decisions.

Profit tracking for demo trading is where the deal comes in about using the tool because its the place where you get to earn some real world rewards based on the virtual profit your have made from your virtual trades on a demo account, which derives from the trading decisions you make. Once you earn profit in demo trading, you can check on the Rewards tab to check the prizes for which you qualify to redeem your virtual profits, then go ahead and redeem by claiming the reward. Some of the rewards offered include real crypto rewards such as 25USD worth of Bitcoin, Ethereum or Litecoin for $150,000 demo profit; HaasBot (3-month Advanced License); Niffler.co T-shirt; Niffler PRO subscription discount; CryptoShopper Stickers; and tickets to Blockchain Conferences. 

Plus500

Plus500 allows traders to demo trading cryptocurrencies CDFs including Bitcoin, Ethereum, Litecoin, NeoRipple, XRP, EOS, Cardano and Tron. Since it is a trading platform on which you can trade CFDs, you get to demo trade crypto CFDs.

Kraken

Kraken cryptocurrency exchange features a trading simulator and a demo futures trading account which users can utilize to enhance their earnings. The simulator features all the trading tools a trader would be interested in when learning to trade cryptocurrencies. First, it is available in 10+ languages including English, French, Spanish, & Japanese.

Their simulator allows you to trade crypto on spot and in futures in margin. You get to trade both directions of the market, when prices are rising and when they are falling. You have access to orderbooks and you could place limit, market and advanced order types such as stop-loss, stop-limit, take-profit market and take-profit limit. You can also specify if orders are immediate or Cancel or Good 'Til Cancel.

Spark Profit

Spark Profit will be interesting to you if you like using Android, iOS, and PC (browser version), and its main idea is to help users or would-be-pro-crypto-traders to predict the future of cryptocurrency prices and train them to make market decisions. Both the long- and short-term predictions of price movements are available for the 19 available currencies for trading practice.

It also acts as a crypto trading game on which you can earn real-world rewards if you are successful at paper trading. The platform uses your predictions to do actual trading of crypto, gives points based on trader's predictions, and then use the profits to pay traders based on their predictions. Therefore, it is best for intermediate to advanced traders who are still learning and practicing trading.

According to their website, they combine the members' predictions in crypto paper trading, in what they term as "crowd-sourced alpha." Points awarded in one week can be carried over to the next week in order to help traders hit and diverse their talent pools. Traders can make as many predictions as possible and when they have reached high enough points, they start earning rewards.

David Kariuki

David Kariuki likes to regard himself as a freelance tech journalist who has written and writes widely about a variety of tech issues that affect our society daily, including cryptocurrencies (see cryptomorrow.com and coinpedia.org); climate change (cleanleap.com), OpenSim and virtual reality (see hypergridbusiness.com). He is currently pursuing a MSc in Environmental Management at Open University. He does write here not to offer any investment advise but with the intention of informing audience, and articles in here are of his own opinion. Anyone willing to use any opinion here as advise to invest in crypto should obviously take own responsibility and accountability of their losses (or benefits) thereof. You can reach me at [email protected] or [email protected]

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