A lot of people think that, but the truth is that there are some competitions out there where you can win prizes without making any kind of initial investment — in fact, your only requirements are that you create an account and have a mobile device! One of those platforms is called BuyCrypt which lets users participate in crypto trading competitions for free.
A crypto trading competition is essentially an event where everyone starts off with the same balance and trades based on price action of live data only. This means that although you will be able to execute trades, none of them will incur losses since your wallet balance does not consist of real funds.
As all participants start under the same conditions, competition is based purely on skill level rather than money put into the account. Therefore, this setup is useful because it enables beginners to experience how trades are executed without risking their own capital.
Initially, your focus should be on making a specific number of trades so that you can gradually build your skills.
The main advantage of joining crypto trading competitions for free is that you avoid the possibility of losing actual money. This prevents any kind of pressure from getting everyone to deposit money and encourages them to trade, even if they are clueless about how to handle things.
In general, the biggest problem with beginner traders is always related to having put some kind of money into account before mastering order types, timeframes, and so on. For a beginner, zero-risk environment is attractive.
This is exactly what happens when you start off playing games in tournaments; there are no extra fees and you get a virtual wallet balance.
To play, you simply sign up for free and start looking through the list of tournaments available at any given moment; once you have found one, just join and start trading!
Playing games after all is about repetition. The more time you spend playing games in tournaments, the faster you will learn how spreads, volatility, time and others impact your overall results.
Another advantage of playing crypto trading competitions for beginners is due to the fact that they allow people to develop skills when faced with real time situations such as when the market does not stop for anybody regardless of whether or not there are uncertainties. Gamification makes learning a lot more interesting.
Thanks to gamification, users have a clear vision on what needs to be done when taking part in a competition since they will always be able to check how their rankings change every second.
Once you will feel a sense of security playing the game and are doing fairly well with beating out the competition regularly, this is when you can think about creating an actual account with real money.
Next you can look to graduate to your path towards getting funded either by paying $5 or entering through our free The Ladder option to land in one of our funded accounts with 80% profit sharing attached. In fact, BuyCrypt has funded 127 competitive traders since its inception, while growing successfully as well.
Master patience and stick to constraints.
Treat your balance with respect — this applies equally well to virtual balances.
Hardly ever ignore anything important happening in the market after having placed trades.
Disclaimer: BuyCrypt is a simulated, skill-based platform for learning and competition; it is not an exchange, does not sell crypto, and makes no guarantee of profit.
No. In free no-deposit tournaments, you do not have to pay anything other than your entry to participate. You have a virtual balance where you can trade using real-time market data and still win real USDT prizes without incurring any financial risk.
This is a skill game that utilizes actual live price feeds from regulated exchanges; your funds are virtual. Hence you experience all the emotions involved in trading but you won’t put any of your real cash on the line – this means it is a form of education combined with game mechanics.
Of course, everyone has the same balance at the beginning of streams so it really comes down to skill and not how much money you have. It should also be noted that BuyCrypt hosts numerous tournaments and has already paid out $384k in winnings, including various leaderboard prizes in USDT, though there is no guarantee on results.
Just create an account for free, get either the iOS or Android app or use the web terminal and select any of the free tournaments offered by us. The good news is that we have around 54 free tournaments available at a time meaning there will be no shortage of opportunities.
Next you can look to graduate to your path towards getting funded either by paying $5 or entering through our free The Ladder option to land in one of our funded accounts with 80% profit sharing attached. In fact, BuyCrypt has funded 127 competitive traders since its inception, while growing successfully as well.
In general, players are ranked based upon how they perform in tournament contests – mostly determined by using parameters such as profit and loss, return on investments, and sometimes by position movement changes which consider good management over the course.
