Blockchain and crypto asset exchange (Cryptocurrency exchange)
Blockchain and crypto asset exchange opens up ample opportunities for a trader to make quick profits. Today, this financial instrument is considered the most liquid one, since the use of proven strategies allows you to increase your income in just a few minutes.
Blockchain and exchange of cryptoassets with maximum benefit is possible only for experienced traders, beginners are advised to practice on demo accounts. After all, it is foolish to use your money, hoping only for luck, when you can test all bets using the system of the demo platform.
What is a demo account?
In other words, this is an instrument with virtual money, which practically coincides in function with real money. It is built on the same platform, there are the same underlying assets, identical instruments, and the quotes offered for trading are also presented in real time and under the same conditions as traders on real accounts.
The only difference is that all transactions are carried out with virtual money, which is available on any demo account when it is opened.
What are the advantages of a demo account?
In addition to the fact that you cannot risk real money, the training ground has a number of advantages:
• you can familiarize yourself with the features of the cryptocurrency trading platform and broker offers. The presence of a crypto exchange with a demo account indicates the high professionalism of the broker, which should be taken into account when choosing a particular platform;
• You have the opportunity to practice, test all the blockchain and crypto-asset exchange options that you have already read about on the Internet or watched the video in order to develop your own earning strategy.
The success of the exchange of cryptoassets with maximum benefit consists of several factors:
• choosing the right timeframe;
• Selection of the required market conditions (trend, consolidation);
• correct determination of the volume of a particular transaction.
Therefore, there is a demo account. With its help, you can develop your own plan for working with cryptocurrency and determine the rules for entering the market.
And the moment you decide to switch to a real account, you will have your own dozens of time-tested trading strategies.
Are there any disadvantages to trading on a demo account?
A novice trader, practicing his skills on the training site, gets an excellent opportunity to learn all the nuances of working with a cryptocurrency exchange without the risk of losing his personal money. But in the case of successful transactions, he also does not receive real profit, only an increase in the amount of the virtual deposit.
In addition, those newbies who stay on demo cryptocurrency trades for more than a month may lose their “sense of the market” due to the lack of risk. That is, due to a decrease in attentiveness and caution, deviate from a strategy that interferes with trading in the real market.