There are many ways you can trade in Bitcoin and other crypto. A more special form of trading in crypto is paper trading or, in good English, virtual investing. In this article we explain what this is. We also explain what virtual investing can bring you.
Of course, investing and therefore virtual investing won’t work if you are not aware of the live Bitcoin and crypto prices. On the website of Tradeincrypto.com you can find all live Bitcoin and crypto prices 24 hours a day, including the whole weekend.
You can also find the crypto prices on the various paper trading platforms. The question of course is what paper trading or virtual investing entails.
What is virtual crypto investing or crypto paper trading?
Since paper trading originated in America, the term is English. Virtual investing is the literal translation of this term, so there is no difference between paper trading and virtual investing.
How does virtual investing or paper trading in crypto work?
If you create an account, for example with our colleagues at virtualinvestment.com, you can get acquainted with trading on a stock exchange or a crypto exchange for free. After signing up, you receive a virtual amount of your choice up to EUR 100,000. With this amount you can then invest in stocks and/or crypto just like on a real stock exchange. Here you can read how to easily open a free virtualinvestment.com account and how to continue trading.
Who is virtual investing in crypto for?
For virtual crypto investing there are 2 target groups. On the one hand, there are people who are interested in investing in crypto but still have a little cold feet. Through crypto paper trading they can get acquainted with investing in Bitcoin and crypto without cost and financial risk in order to decide if they are ready to really invest.
It is also interesting for people who already invest in crypto to have a virtual investing account. This is because they can then simulate strategies or lessons from crypto courses and assess without risk whether they are profitable and/or suit them.
Since your personal portfolio is not visible to other users, you can discreetly test your strategies or learn to invest in crypto without fear of bloopers.
Can you make returns with virtual crypto investing?
Yes you can. You invest with virtual money in an environment that is (almost) equal to a real crypto exchange. So, just like on a real crypto exchange, you can make a profit or a loss on your virtual investment. However, the return is also virtual. This means that profits are not paid out, but losses do not cost you a penny either. Still, there are possibilities to make real profits.
What is a virtual crypto trading competition?
To measure your investment skills against other users, you can join monthly investment competitions. At virtualinvestment.com, the monthly competition for virtual investing in stocks and crypto starts every 1st of the month. This month the prize package is filled with a value of more than EUR 300 thanks to reputable parties such as Cryptohopper. You can join at any time, but the later you get in, the more advantage others build. That’s why you can sign up for the crypto paper trading competition easily and quickly at Virtual Investing.com.
Want to get a head start already? In our crypto analysis from yesterday we already discussed some interesting price analysis.