Brokers with bitcoin trading demo account at a glance
Trading in Demo Mode Without Real Money
Some Bitcoin trading sites offer trading in Demo Mode for newbies – or a Demo Account, which is pretty much the same.
Trading with play money helps you to understand the functionality of the platform and simply get used to using it.
If you feel secure because you are familiar with placing orders and the way the system reacts and executes those orders, then you are ready to trade with your real Bitcoin.
On BitMEX you find the Demo Mode Platform (Testnet) linked here below the sign-up form.
Why It Is Important To Practice Bitcoin Trading
It's important to practice trading at the beginning, as successful trading is a skill which comes with time and experience.
You can compare it to driving a car.
At the beginning you have to learn some theory and then practice it by driving frequently a little bit, to get used to the system.
You cannot just jump into a sport car and start driving fast to anywhere, when you've never been driving before.
The likelihood to cause an accident would be enourmously high. With trading it's the same – you cannot just start and achieve profits all the time.
Likely the opposite will happen – you lose all your funds very quickly.
So make sure you learn the basics and take advantage of demo accounts or demo mode trading.
Demo Accounts Are Also Helpful For Veterans
If you are already experienced, it might still be helpful to first use the demo mode of a new platform. Just to make sure the order types function exactly as you expect.
How to start trading bitcoin
Sometimes it might happen that the functionalty of different platforms' order types is a little bit different and you might do a mistake by expecting a certain execution which then happens differently.
You can also generally practice trading in the stock market simulator on investopia.com, to get the principles of trading.
However, if you intend to trade Bitcoin on margin it's best to directly learn trading on BitMEX on their testnet platform. You find a direct link to their testnet subdomain in the text on this page.