Crypto Parrot is a cryptocurrency social trading simulator where they allow you to take advantage of their free simulated crypto exchange without needing to risk any capital. In addition to that, you can actually earn some Bitcoin. For every $1,000 that you make on top of the initial $100,000 of play money that's given, you can then redeem them for 1,000 Satoshis; $1 is equal to 1 Satoshi.
In my previous post, I wrote about the dangers of borrowing crypto. In that post, I wrote about how my friend lost about $900 worth of Bitcoin because he, unknowingly, was borrowing when trading on Bitmex.
The feedback that I've received from writing that post is overall quite positive and better than I had expected. I believe that I was able to hit my goal of preventing at least one person from getting margin called or liquidated when trading.
Again, there's nothing wrong with trading on margin as long as you know the risks involved with it. That's why I think that for anyone who is thinking about getting in to trading should use play money first before risking his or her own money. Only after you've shaped your trading style to consistently make profitable trades should you put your own money at risk. There's no need to learn the hard way with your own money.
Having said that, I coincidentally came across a website that offers simulated crypto trading and figured that I'd write about it. I haven't really written anything about trading and so I thought I'd start writing some posts on the topic.
When it comes to trading I'm not a superstar at it, nor am I someone who's always making bad trades. Over the past few years I've been able to go from not knowing a single thing about trading to where I am today where I'm slightly more right than wrong on my calls.
If you're someone who has thought about getting in to trading crypto but didn't either because you didn't want to lose your own money or perhaps because you didn't know how to start, then you may be interested in the platform that I'll be writing about in this post. I think that this platform is worth checking out as it's an opportunity to practice trading with no risk involved. In fact, there's even some upside to it as you can earn some Bitcoin.
Yes , you should have a play money for that before , good bit of information, Thank you