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CRYPTO TRADING SIMULATOR - CRYPTO PARROT

By cryptoforcanadians | cryptoforcanadians | 30 Jun 2020

$1.86

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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.

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.

When you go to www.cryptoparrot.com, you'll be presented with a homepage that
looks like this:



Signing up with them takes less than 30 seconds and once you create an account,
you'll then be brought to a page that looks like this:



The left side is the menu where you can view your trades, look at the different
cryptocurrencies, read some news articles, exchange your play dollar profits for
real Bitcoin, view past competitions, check out the leaderboard, invite friends,
and join their Telegram group. 

On the homepage though, is where you would make a new trade. There's a green
button on the top right hand corner that says "New Trade." If you click on that
button, a trade menu will slide out where you can make a trade. It looks like
this:



To change the crypto, click on the "BTC/USD" button and a menu will drop down
showing you the different types of crypto you can trade. You then have the
option of buying or selling at market, putting in a limit order, or a stop loss
limit just as you would on a top crypto exchange. They even have advanced
options where you can leverage, and set conditional closes. You then have the
option to share it on your timeline where others can view the trade you've made.
One thing about Crypto Parrot is that you can only take "long" positions. This
means that you can't "short" it.

For those of you who like to chart, I wasn't able to find out which exchange
they're following for their prices. I'm just assuming that it's an aggregate of
all prices across multiple exchanges. 

For anyone who's been contemplating getting into trading but doesn't want to
risk any capital, I would definitely check out Crypto Parrot as they help you
get comfortable with understanding the basics of trading and to get a feel what
trading is like. It's not going to replace actual trading with your real money
but it will at least show you the basics of trading.

Here's a video I made showing how to place a trade:







If you're interested in trying them out, here's a link:

PRACTICE CRYPTO TRADING WITH CRYPTO PARROT!



In the future I will be writing more articles related to trading as there's just
so much to it. I'm personally glad that I spent the time (probably thousands of
hours over the course of a few of years), and hard work learning how to do it as
it definitely has been profitable for myself. I'm not going to say that it will
be profitable for you but I think that if you've got the willingness and
dedication to learn to trade, I don't see why you can't be profitable. 

If you liked this article, please give it a thumbs up or share it with others!
You can check out my other posts
here: https://www.publish0x.com/@Cryptoforcanadians.

Like what you see? Consider signing up with my
link: https://www.publish0x.com?a=Mvbm9jpbYA. It takes less than 30 seconds. 

If you have any questions or comments, please feel free to leave them down below
as I will respond. You can also contact me at cryptoforcanadians@gmail.com. You
can also message me on Telegram @cryptoforcanadians or feel free to join my
Telegram group where we talk crypto: https://t.me/crypto4canadians.

Trading Crypto Trading Trading Education Bitcoin Trading cryptoparrot

How do you rate this article?

53



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cryptoforcanadians

Educating Canadians, and others, about crypto.

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cryptoforcanadians

Educating Canadians, and others, about crypto.

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Sort By: Best New Old

Cryptobreakfast1 - 4 years ago

I like the idea but i don’t like the fact that they are trying to make money by
promotiong eToro scammers

Reply
Report

cryptoforcanadians - 4 years ago

I’ve never used eToro before. Are they a scam? Have you ever had a bad
experience with them?

1

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Cryptobreakfast1 - 4 years ago

Used 2 years ago… 1- They sent my money via PayPal when i asked for wire
transfer. (Don’t even gave them my PayPal account) 2- they close your position
(even in profit) without telling you nothing about that 3- their prices are
clearly fake and will bounce every time after hitting your stoploss or
liquidation price

CFDs are 100% scam, they offer bitcoin CFD If they aren’t scammers, tell me what
they are lol

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cryptoforcanadians - 4 years ago

Lol I wouldn’t know as I’ve never used them before. Thanks for sharing your
experience though!

1

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CUMSH0T18 - 4 years ago

when did 1 satoshi become $1 ??

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cryptoforcanadians - 4 years ago

It’s not worth $1. In the platform they give 1 Satoshi for every $1 you earn.

1

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CUMSH0T18 - 4 years ago

so…how much did you earn ?? like how much time did take to earn it ? whats the
minimum withdrawal amount ?,jus excited to know cuz i want to get into
trading…this looks like a good way to learn it…btw is this worth our time ?

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cryptoforcanadians - 4 years ago

I don’t use the platform as I trade with real money now that I’ve been able to
make more right than wrong calls.

1

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CUMSH0T18 - 4 years ago

oh,thats great. good content though.

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cryptoforcanadians - 4 years ago

Glad you enjoyed it! I’ll be writing more posts on trading so stay tuned.

1

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pedromendy - 4 years ago

very nice development

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cryptoforcanadians - 4 years ago

Thanks I appreciate it!

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Hichodz - 3 years ago

How to withdraw profits?

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Clouds - 4 years ago

Is this platform accessible to Nigerians?

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cryptoforcanadians - 4 years ago

I don’t see why not…

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