Everyone into crypto knows how popular the Binance cryptocurrency is, but many new traders are wondering whether or not it has a demo account which they can use to practice trading crypto. In this guide, I’ll be giving you the answer to this question and showing you where you can practice trading crypto on demo accounts.
No, Binance does not have a demo account. You can only trade on the exchange by depositing real cryptocurrency. The minimum deposit is low though, so you can practice without risking too much capital upfront.
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Why doesn’t Binance have a demo account?
It’s hard to say why Binance doesn’t have a demo account, but I presume that it is because there isn’t much demand for one. Most people who start trading cryptocurrency don’t mind trying it out with some money. Nevertheless, you may still want to try out on a demo account, so it would be nice to see Binance add this feature in the future.
Crypto exchanges with demo accounts
Not every cryptocurrency exchange is like Binance. There are some exchanges which offer demo accounts which let you try out trading with something called ‘testnet bitcoin‘, here are 5 of my favourites: