The cryptocurrency trading world can be daunting and intimidating especially for beginners. While the decision to trade in cryptos is a wise one, jumping right in with your hard-earned money can be quite a risk if one is not familiar with the market. Do you want to join in the excitement of trading and watching your fortune grow while you learn the market dynamics, all this without investing a single penny? Bitcoin Flip is the app for you.
Bitcoin Flip is a free application available on both the iOS App Store and the Google Play Store. Once you download the app, you get access to a trading simulation that gives you the thrill of using your wits, intelligence and the market data provided to grow your fortune. It comes with some of the most popular cryptocurrencies including Bitcoin, Ethereum, Dash, Dogecoin, Stellar Lumens, Neo, IOTA, NEM, Cardano, Bitcoin Cash, Vechain, Nano and of course, Ripple’s XRP.
Bitcoin Flip is designed with the amateur traders in mind. The simple, easy-to-use and intuitive interface is a godsend. Designed for simulated margin trading, the app gives you $5,000 to start your trading with.
To make your first trade, you are required to select the amount to invest from a drop-down menu. You can either select $250 or $500. This is the maximum amount one is allowed to trade while starting out. After successfully completing 25 positive trades, the amount to invest can be increased up to $2,500. This is meant to protect new traders from losing all their fortune in the first few trades.
After selecting the amount, you are required to select the leverage to apply which begins with X1 up to X5. As with the amount, to unlock higher leverages, one has to have 25 successful positive closures. Next, set the loss limit if you expect the value of the cryptos you staked could depreciate. The loss limit is the maximum amount you are willing to risk taking in losses if the value depreciates. One also sets the profit limit beyond which you don’t wish to sell. For most users, the profit limit is understandably set at No Limit.
The app also comes with a history tab at the top right of the graph of your trades. It’s denoted by a clock symbol and once clicked, it opens all the transactions completed. This gives you the chance to track your progress over time ensuring you don’t repeat any mistakes committed in the past.
The app comes with charts that are real-time so that you can track the progress of a cryptocurrency as it unfolds. For example, if you purchase XRP, you can monitor its progress through time by manually selecting the period of time you require. You can also move manually on the chart by using the touch functionality.
Once you get the gist of the cryptocurrency trading market, you get to choose from some of the most popular exchanges such as Coinbase, Etoro, Bitfinex, Coinmama, Huobi, Bitstamp, Kraken and many more.