People are crazy about crypto trading nowadays since there are several popular virtual currencies and more are looking to join their ranks. This is the next stage in the world of finance as these currencies don’t come in the shape of banknotes or coins like regular fiat currencies.
These new currencies also make sure to pack a good dose of benefits which are the reasons why people are looking to use them. Crypto users are the only ones with access to their digital currencies because these currencies are decentralized. Moreover, the users are anonymous and their information is kept safe with this anonymity. Then you’ve got the profit potential which is the main reason why some go for virtual currencies.
To enjoy this profit potential and the other benefits people need to learn how to trade these currencies. Thankfully there are several apps that offer to teach you how to trade crypto. These apps focus on various virtual currencies and various elements of crypto trading. With that said, you’ll need to find a couple that will teach you the right skills. And if you have no idea where to start you can go for one of these apps:
1. Spark Profit
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Most apps will focus on the buying and selling aspects of crypto trading, but Spark Profit will focus on predicting which way the value will go. If you make correct predictions you’ll win points and if the predictions are wrong, you’ll lose points. The virtual currencies available are Bitcoin, Ripple, and Litecoin. Then again you’re not required to learn any skill when it comes to crypto trading and you can go for an alternative solution to experience the profit potential. In other words, you can go for a trading platform like BitQTApp.
The platform will trade in your stead as it needs your user as an input and will combine that with an algorithm. But the platform won’t know what to do unless you adjust the settings accordingly. This means you must create an account to learn how to operate the settings and a small amount of money as a start for your budget. With that said, you’ll also need to go over a couple of tutorials and tinker with a demo account to better understand the platform. Then it’s off to the live session and then it’s time for the real world of crypto trading.
2. CoinMarketGame
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Unlike the previous entry, CoinMarketGame is a simulator that focuses on the buying and selling aspects of crypto trading like many other games. It also offers players a variety of popular virtual currencies to trade with on the virtual market. Moreover, these assets are coupled with real-time prices as players will be able to trade into the real world. Some of the virtual currencies include Ripple, Litecoin, Dash, and Ethereum. Spending some time with this simulator will teach you the essentials which are the only skills you’ll need when at an online exchange.
3. Altcoin Fantasy
Source: cryptoslate.com
Buying and selling are taught again by Altcoin Fantasy, but this simulator’s forte is the market analysis skill. This combines the prediction skill and the decision-making skills that are crucial if you’re looking to make it as a trader. Also, you have complex competitions for the most skilled traders and the winners get real virtual currencies as a prize. There are many benefits of choosing this option. It is focused on beginners who can learn more about the process of trading on this market. The platform managed to bring the real-time environment with a tracking system that will simulate the real situation on the market. You will receive the virtual $100,000 when you open this demo account.
4. Niffler
Source: inthemesh.com
For those interested in learning more than standard trading that involves buying and selling, we suggest you check Niffler. With this app, you will be able to gain knowledge about various aspects of the market like leverage, shorting, and more. Therefore, you will be well-prepared to start investing with real money much faster. There is a decent selection of cryptocurrencies available as well, besides the well-known BTC.
5. Bitcoin Hero
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If you want to skip the tutorials since you are already familiar with all the details related to the process of trading with cryptocurrencies, the best option is BTC Hero. It is a quick and convenient way to start practicing by using virtual funds. Also, there is no need to register and create an account here. You will be provided with 10,000 units of virtual money and use it to invest in BTC, ETH, Dash, and more. Due to its simplicity, there are certain limitations for trades. You can buy units only in sizes between 100 and 1,000. When it comes to functionality, it is following the most recent changes on the market.
6. Bitmex
Source: coinbureau.com
This app is an excellent option for those interested in a more complex simulator. There is great flexibility in terms of various trading methods like leverage, long and short positions. You will be able to learn more about the complexity of trading, the influence of various factors on values, and how to react at the right moment. One of the main advantages is the part where you can learn more about the analyses, how to check them, where to find the reliable ones, and how to apply the information you got from these reports into your trading performance.
7. Mining Calculator
Source: coindesk.com
People who would like to learn only about Bitcoin for the start should use this app since it is providing only trading with this cryptocurrency. The gameplay is unique, and you will receive various tasks that will help you to gain more information about the potential changes on the market and the best moments for buying and selling.
Conclusion
Now that you’re aware of some of the simulator apps you can take your pick or go looking for another one. What’s important is to learn the skills. Another important thing to pick is one virtual currency from the various virtual currencies available at exchanges. Then you’ll need to go for an exchange and a secure wallet. Keeping track of the value is also important as you’ll need to adapt to the changes.
All of these apps provide some benefits and downsides. The main point is the same, and that is to help people learn more about trading on this market. It is especially important for beginners to never rush with the decision to invest with real money before getting some experience.
There is a great potential of making a profit by trading with crypto. However, you need to be aware of different factors that affect the market and high volatility as a result of that. Simple investing in some crypto you find to be a good choice is risky if you are not aware of the current situation on the market and how it might change over time.
