Trading with real funds is a risky endeavor and this is why most traders first trade using simulated funds before putting their real money at risk. You are about to enter the stock and crypto market and you are after a sense of added confidence through the experience gained by using a risk-free simulator? So the question is where could you practice cryptocurrency trading for free?

Want to jump straight to the answer? Top Bitcoin & Crypto Trading Simulators In September 2021:

  • Cryptoparrot
  • Bitcoin Mining Profit Calculator
  • Bitcoin Hero
  • Altcoin Fantasy

Where could I practice cryptocurrency trading for free?

If it free and risk-free crypto trading practice that you are after, then rush to join CryptoParrot, an excellent tool which gives you access to real-time market data and great analysis tools at zero commission. If you go by the motto that practice makes perfect, which is indeed often the case when it comes to learning how the trade, and especially when learning to trade cryptocurrencies, then read on to learn all you need to know about crypto trading simulators.

Best Bitcoin & Crypto Trading Simulator to Learn Trading

The turbulent trading history of Bitcoin and other cryptocurrencies, and their hugely unpredictable prices, mean that aspiring investors are having a hard time achieving profit. This does not mean that you should be discouraged. The truth is that cryptocurrencies lie somewhere between currencies and commodities in terms of their trading, and this fact alone creates ample money making opportunities, provided one knows what they are doing.

If you do wish to enter the wonderful crypto world then, and gain access to this alternative trading way and money management method, your first step is to learn how it is all done in a safe environment that does not put any of your funds at risk. Crypto simulators are the ideal solution for this purpose, since they allow you to try out the trading of multiple cryptocurrencies in a risk free manner, without using any real money, allowing you to learn and test your skills before you start trading for real. Find out more about cryptocurrency simulators and choose the best suited for your needs to maximize your chances for crypto trading success.

What are cryptocurrency simulators?

What are Bitcoin Crypto Trading Simulators

Simulators are common place in world of video games, with multiple games across different consoles, simulating real life situations, such as those of sports leagues. But while playing football or basketball on a simulator will not make you a better athlete, trading on a crypto simulator will most likely turn you into a much better trader. Novice investors can greatly benefit from trading on a simulator, since it allows them to experience trading under real market conditions, the only difference being that they trade using fake money and thus any losses they incur will not hurt their pockets.

Cryptocurrency simulators are tools developed purposely to be working in real time, displaying real-life current prices and rates and allow the placing of orders and transactions on all the different cryptocurrencies supported by any specific cryptocurrency exchange. Moreover, each transaction performed is recorded in a diary so that users can access their trading history at any time and analyze and evaluate their trading decisions and performance for learning purposes. Since trading on a crypto simulator is done using simulated money, crypto simulators are thus the best and safest method for novice traders to learn how to trade and for seasoned traders to test, experiment with and try out different and new trading strategies, without ever risking a single penny!

Why you should use cryptocurrency simulators

Learning is a process and learning how to trade cryptocurrencies is no exception. During the learning process it is natural and inevitable to make mistakes and to be forced to take risks in order to explore new approaches, methods and strategies. However, when risks are involved and when real money is at stake, one tends to be more reserved and less inclined to experiment. And here is where trading simulators come to play, as tools that serve the goal of improvement, allowing traders to improve their skills without the fear of loss of any real funds.

By using crypto simulators traders learn to better identify trading chart patterns and trends and thus learn how to take more timely and successful trading decisions. And with most trading simulators being available online to be downloaded and instantly charged with simulated funds, you can instantly start your simulated trading experience. Since crypto trading is always risky and entails the element of gamble, traders are called to apply several investment tactics and techniques in an attempt to mitigate such risks. Crypto trading simulators, which offer a safe venue for practicing all money management and investment making skills are thus useful for all types of traders, regardless of their previous experience and level of proficiency.

Such high tech trading simulators would not have been possible in the past, when trading charts were hand drawn on paper, and the placement of a trading order on time, depended on how fast one could actually run! Thankfully, nowadays, advanced technological solutions, high-speed computers and internet connectivity make possible the development of such sophisticated software on which trading simulators are based catering for practicing trading techniques and testing out trading strategies.

Types of cryptocurrency simulators

There are two main cryptocurrency simulator types for you to choose which suits you best:

  • Cryptocurrency market games: these type of games places less emphasis on trading and trading skills, but are mostly a fun way to compete with your friends or with total strangers and try to create the strongest cryptocurrency portfolio, by picking the cryptocurrencies or stocks with the best performance. The winner is the one who can most successfully buy and hold on the top investments over the life of the specific game.
  • Virtual trading simulators: simulators, where users can closely track the real market and actively trade cryptos and stocks for virtual profits. The main goal is to use the simulated trading experience in order to practice your real trading skills, while in case of a simulator tied to a specific broker’s actual trading platform, you can use the simulator in order to also test-drive the trading platform itself and become accustomed to the various trading tools offered.

The Benefits of cryptocurrency Simulators: the top reasons why you should try a crypto simulator

Benefits of cryptocurrency Simulators

  • Trading simulators can offer you general investing education. Besides allow you to trade under real trading conditions, simulators often also put at your disposal a lot of other educational materials, such as articles and tutorials, while also allowing you to interact with the community of other users and get their insights on any questions or doubts you may have.
  • Since when trading on a simulator no real funds are put at risk, this is the safest set up for novices to learn the mechanics of placing trades and how to build a successful investment portfolio, through trial and error. On a simulator you can trade more comfortably and learn more effectively without fearing that any mistakes you make will cost you dearly.
  • Simulated trading is great for more seasoned traders as well, since it allows them to expand their investing repertoire and try out any new investment strategy or trading method or type they wish to experiment with. On a simulator you can engage in more sophisticated trading than you are usually accustomed to and thus expand your horizons in pursuit of bigger and better earning potential, all without risking any real money.
  • A trading simulator is a great venue for traders to learn how important it is to be able to be keeping your emotions under control when investing. Though real money is not at risk when trading on a simulator, the conditions are real and thus often your brain reacts as if real money is at stake, offering you a convincing preview of the roller coaster of emotions you might expect to go through when investing on the real market, using real funds. This puts you in a better position to be able to deal with your emotions when you start trading through a regular paid account.

Where to find trading simulators

If you are looking for trading simulators you are in luck as there are several options out there from you to choose from. Actual online brokerages are perhaps amongst the top providers of virtual-trading practice environments, since the simulated investing platforms are as close to the real thing as you can get, as the practice accounts they offer mirror the offering and the working of the broker’s actual live trading platform. Usually you can access such simulated trading venues offered by brokers for free, though most will require you to set up an account before you can use them. What is great about such simulators is that brokers usually give simulated users full access to a set up that is fully functioning and includes the same array of tools offered to live trading clients, such as watch lists, stock screens, research and live data feeds.

Key Qualities of the Best cryptocurrency trading Simulators

The top cryptocurrency trading simulators, some of which we present below, share a few common merits to deserve the title of top-notch simulated trading venues. Such characteristics and qualities include:

  • A very close resemblance to the actual market. If simulators do not look and feel like the real thing, then the experience they will offer you will not be that of authentic crypto trading. It is thus important that they enable the buying and selling of cryptocurrencies, stocks and other assets in real time, while also allowing you to have access to more advanced securities and order types.
  • Offer much more than just crypto. Testing your trading strategies requires access to a wider array of securities, and good trading simulators offer that by allowing you access to such options, such as the buying and holding of ETFs and mutual funds. In fact, really good crypto or stock market simulators will also let you trade triple-leveraged ETNs and hold mutual funds for many years.
  • The inclusion of useful research tools and stock charts. Learning how to trade requires you to be able to do research, so getting access to that is an essential merit, while charting tools are also a necessity irrespective if you are trading with real or fake money. Good simulators are those who grant you full access to all available tools, including economic data and relevant news reports.

Best crypto Simulators – Tools for Professionals or Individual Investors

Becoming a better investor is an important need for traders, be they novices or pros. This is why finding the best crypto simulator is a crucial decision. However, there is no “best” simulator all around, as all traders are different and thus have different needs, goals and requirements. In short, the best crypto simulator for each trader is the one that best serves and matches those specific needs. To help you with your quest, we highlight below a handful of simulators which we consider among the best and most trusted, having received high credentials by independent reviewers and actual users alike. We invite you to give them a closer look and make your final pick according to which best serves your own specific needs, expectations and aims.

  • Cryptoparrot

    Cryptoparrot Bitcoin Crypto Trading Simulator Review

    Cryptoparrot’s primary aim as a simulated, practice cryptocurrency exchange is to help its users learn about all aspects of cryptocurrency trading. To achieve this, Cryptoparrot does not merely simulate the buying and selling of cryptos, but also the use of leverage as well as different trading types such as, going long, shorting a position, etc.

    What is mostly interesting about Cryptoparrot, making it stand out from other cryptocurrency trading simulators, are some unique features, such as for example the earning of progression badges as a user moves on to learn about the different types of trades available on Bitcoin and crypto exchanges. Rewarding your effort and helping you keep track of your progress, after you complete a minimum of 30 trades, achieve an average 1.5% profit margin, and manage to complete a minimum $25,000 Play USD (the Cryptoparrot simulation currency), then you receive “verified status,” indicating your enhanced level of trading experience. Having earned the verified trading experience status, Cryptoparrot then allows you to act as a mentor and tutor, offering advice to other users who are prospective crypto traders. And if the advice you offer proves to be good quality, then more reward points and Play USD will come your way. Moreover, you can use these earnings to purchase rewards from the Cryptoparrot rewards store, which features various goodies from Cryptoparrot’s trading partners. Thus, by using Cryptoparrot, you can not only improve your trading skills and learn risk-free but actually stand to win much more.

  • Bitcoin Mining Profit Calculator

    The Bitcoin Mining Profit Calculator (BMPC) is exceptionally suited to complete novices in the world of Bitcoin and crypto trading, as it is a truly easy trading simulator to use, while at the same time including a full introduction to the trading of Bitcoin. The BMPC website is set out as an interactive, clicker game with explanations coming up on the screen as you click on different prompts and tabs, guiding you through in a fun and easy to follow process, which also includes regular updates. This ensures that you will never miss out on any relevant information which affects the price of Bitcoin and other cryptos, while also granting you access to the inner workings of the Bitcoin community.

  • Bitcoin Hero

    This simulator is more suited to users who are already familiar with what cryptocurrencies are and are thus ready to jump right into their simulated trading. Bitcoin Hero is essentially an online trading simulator which comes in the form of an online app that can be accessed at any time, even on the go, and from any device, working great on mobile screens as well and not requiring to even be installed. For those who do wish to download it, there is an Android App available, while if you also create an account, though this not necessary, you can better track your progress and be able to monitor your performance over multiple sessions. The prices quoted on Bitcoin Hero are live, real prices and thus the simulated trading is done under real conditions, while the available cryptocurrencies to buy and sell on this particular simulator are Bitcoin, Ethereum, Litecoin, and Dash.

  • Altcoin Fantasy

    Altcoin Fantasy Crypto Trading Simulator

    Altcoin Fantasy (ACF) is a far more advanced simulator than others, such as Bitcoin Hero, not least because it allows for simulated trading against other users, in a competitive mode which promises great real-life prizes. Besides such prizes, competing against others also rewards users with ACF points, which is the in-game simulated currency, which can also be traded for trading-related real-life prizes as well. Moreover, users get a daily sign-in bonus and can also gain more points through a free spin-wheel. The use of real market data and conditions from across a range of different exchanges ensures that the simulated trading experience is highly realistic, while the competitive mode pushes users to up their game and further sharpen their crypto analysis and trading skills to be able to effectively compete and stand better chances for earning coveted prizes and rewards.

  • CoinMarketGame

    For a full-fledged simulator consisting of all major cryptocurrencies, you can’t do much better than CoinMarketGame is a full-fledged crypto trading simulator, which caters for the simulated trading of all major cryptocurrencies, through a trading experience that is realistic and accurate of real-life market conditions. Once you sign up for a CoinMarketGame account you receive a $20,000 starting amount of simulated money, which you can use to trade on both popular and less known coins, helping you build up a diverse investment portfolio. Moreover, you can monitor your performance via the embedded leaderboard which allows you to know how your competitors are faring as well and give you further motive to trade more, learn more and become more successful.

Using the Best Crypto Simulators for Practice and Strategy Trials

Crypto Simulators for Practice and Strategy Trials

The importance of a good stock and crypto trading simulator cannot be stressed enough, as such simulators are zero risk practice tools, where traders can learn how to make investments under real life conditions and also try out new and different trading strategies. As a practice venue then, a trading simulator is also a great source of learning the basics and then mastering the secrets of effective trading and investing. When trading on a simulator you learn how to perform asset analysis and also learn how to factor in trading costs. Moreover, though the use of analytical tools which are available on simulators users can learn all about financial ratios like price/earnings and debt/equity, which will greatly help their real-life trading efforts.

Concluding remarks

There is little doubt that using a trading simulator before actually starting to trade with real money is a much safer option, allowing traders to complete their learning curve and acquiring the necessary knowledge without risking any funds. Though some approach the use of simulators with some skepticism, this type of negative comments should not deter novice traders to reap the benefits to be had through simulated trading. After all, the knowledge, enhanced skills and added confidence which come with practicing will always bring better trading results than blindly clicking up and down. A reliable and highly realistic trading simulator is thus truly useful and important for any trader and you should always do your research and make sure you find the simulator which best suits your own needs. And once your trading game is up to scratch you can hit the real markets much better equipped and with far greater chances for success and profits.

Crypto trading simulators FAQs

What is a cryptocurrency trading simulator?
A cryptocurrency market trading simulator is a dedicated online tool allowing an investor to practice his or her crypto trading and picking skills without investing, and thus risking, any real money. By logging on and setting up an account on a simulator, interested, aspiring investors can make simulated investments using simulated money. What are the best cryptocurrency trading simulators? There are several cryptocurrency trading market simulators, which offer interested individuals the chance to learn and practice their trading skills in a fully risk-free manner, using simulated funds. Those we consider to be the best such solutions are the ones we present above.
What is the difference between a trading simulator and a real exchange?
The main difference between trading on a real exchange and trading via a simulator is the fact that on the cryptocurrencies trading simulator you do not have to use real money and you are thus free to practice and learn without the risk of incurring any losses. Cryptocurrency simulators are the safest and easiest way to learn how to trade. Moreover, simulators are not only suitable and useful for novice and inexperienced traders, but for pro traders as well, who can use trading on a simulator, using simulated funds, to try out and test new trading methods and strategies.
Is investing real money in bitcoin worth it?
Many seasoned and less experienced traders have made fortunes through trading on Bitcoin, stocks and other tradable assets. At the same time, many have suffered huge losses, so whether investing real funds into trading is worth your while will eventually be judged by the outcome of your trading endeavor and thus nobody can give you a definite answer. What is certain however, is that trading is always risky and not an easy task, especially if you trade with your emotions and hear and not with a cool head. Simulators are important in this regard, as they allow you to try out different trading techniques and learn and improve your trading skills without risking to lose any of your capital.

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