A cryptocurrency exchange has launched a demo platform for its users, giving them the chance to put trading strategies to the test in real-life market conditions.
Demo HitBTC, from the platform of the same name, provides a digital balance so experiments with ambitious techniques can take place without real-life assets being used. It offers most of the features that HitBTC does, and the company says its simulation is “just as fast and robust as our live platform.”
The service is completely free, and given that it runs completely independently to the core HitBTC exchange, interested users will need to sign up for a new account. From here, a virtual demo fund of 0.1 Bitcoin TST is available, along with 100 Tether TST.
Multiple purposes
Besides helping traders strategize, there are other benefits, too. For crypto enthusiasts who currently use other exchanges, it’s a chance to familiarize themselves with what HitBTC has to offer. The platform has also said that it plans to trial new features on its demo site first, giving long-term users a sneak peek at the innovations that are just around the corner.
Complete with a “clean, user-friendly and fully customizable interface,” Demo HitBTC supports a plethora of trading tools and order types, partly thanks to its compatibility with a range of APIs, including FIX API, WebSocket and REST.
The demo accounts also support margin trading with five times leverage, enabling users to see how their strategies would have panned out with an amplified amount of capital. In the real world, this would be the equivalent of opening up a $1,000 position by committing $200 of their own capital. HitBTC says this is a feature exclusive to its demo platform, which is yet to be implemented on the live exchange.
Three currency pairs are on offer through Demo HitBTC: BTC–USD, EOS–BTC and EOS–USDT. The company says that this is an ideal place for putting trading bots through their paces in a risk-free environment, enabling users to get an understanding of how an API works, how trading tools function, and how to get to grips with the trading interface. Given how every exchange does things a little differently, achieving this familiarity can help prevent expensive mistakes in a real-world setting.
According to HitBTC, such demo platforms give newcomers a powerful opportunity to explore how crypto exchanges work, the confidence to execute trades, and to make the most of their newfound skills.
Seven years in business
HitBTC first launched in 2013 and has become stronger since then, the team notes. The exchange now offers more than 800 trading pairs, too.
In other developments, the exchange recently offered platform integration for digital assets designed to contribute in the fight against COVID-19 — giving a boost to crypto startups supporting cutting-edge scientific activities, as well as the health care community.
HitBTC subsequently announced that CureCoin, which has been specifically directing its computing power to aid research efforts on the coronavirus, was among the projects to benefit from this new initiative.
Back in December, the exchange also added a sub-account feature to its trading platform, enabling users to add secondary profiles to their master account so activities can be carried out separately and online assets can be controlled in a more organized way.
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