Deutsche Bank launches internal probe on possible staffs' inappropriate selling of investment products
Bitcoin Trading Simulators or How to Get Some Practice
More and more people are looking to become Bitcoin traders. It’s not surprising since the digital currency is popular all over the world. However, if you’d like to become one you’d need to know the basics first.
If you’re looking for history and what it’s all about then you can plenty of articles online that have the matters covered. For example, you’ll need to have a wallet to store your Bitcoin in. You’ll need to know the different types of wallets you’ll come across, which ones suit your needs best, and so on.
However, don’t think that if you know the basics you’re ready to start trading. You’ll need a bit of practice first. And that’s where the Bitcoin trading simulators come in. As you know, simulators put you in a virtual environment and let you experience various situations.
The best example of this is every racing game you’ve come across. You can thank the gaming industry for these simulators. The best part about them is that they’re available as apps that you can have on your smartphone. In other words, they’re convenient and easily accessible. Without further ado, here are a few simulators that you can practice with:
Bitcoin Mining Profit Calculator
This game comes in the shape of a text message adventure game. If you’re into retro games then Bitcoin Mining Profit Calculator is the game for you. It’s an entertaining and educational game that will teach you the basics of Bitcoin trading.
You’ll get various notifications about what’s happening on the market as well as prompts and messages that will keep you in the loop. In other words, you’ll be notified of everything and you’ll be learning crucial decision-making skills.
These skills will make you a better trader when you decide to trade in real-time. In that regard, there are some platforms that can make the process a lot easier. One such platform is the Bitcoin Pro Official platform. You’ll need an account and a minimum deposit to begin. Naturally, you’ll get a demo session to better understand how the trading bot works. After that, you can set the bot’s settings and go live. You just need to check on it from time to time to see how it’s doing.
Altcoin Fantasy is another trading simulator app you can enjoy. You’ll get virtual currency to trade with and it comes in the form of ACF points. The other players in the exchange market will be there as your competition. Additionally, you’ll be able to make mistakes without losing any real money.
This game will also teach you how to analyze the market and make good investment decisions. As you know there are various cryptocurrency types so besides Bitcoin you can trade with other cryptocurrencies as well. In other words, you’ll learn all the important skills that you’ll need as a Bitcoin trader.
However, the game has one interesting feature. It comes in the shape of more than one competition where you as a trader can test your skill. If you prove to be skilled enough you’ll walk away with a prize made up of real cryptocurrency.
This app is for the players that already know the basics. Again you get virtual money to play with. The game uses real-time information so the prices of assets are the same as the price on an actual exchange. You’ll have other players to compete with and make important decisions along the way. All in all, you’ll have plenty of practice and you’ll be a better trader when you go for the real thing.
These 3 are only some of the simulators you’ll come across. Naturally, the choice of a simulator is entirely up to you. What’s important is to get practice and build the skills you’ll need to become a successful Bitcoin trader.
By practicing daily, you’ll be able to better assess the market you’re in and coincidently make better decisions. You’ll minimize the risk and your losses substantially. These apps will provide you with an environment in which you can safely make mistakes. So make sure to practice with a Bitcoin trading simulator before you start trading for real.
This article does not necessarily reflect the opinions of the editors or management of EconoTimes