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TagsWhich cryptocurrencies are most commonly used in paper trading futures?
surjith surjiNov 26, 2021 · 3 years ago1 answersIn paper trading futures, which cryptocurrencies are frequently used for practice and simulation purposes? What are the advantages of using these cryptocurrencies for paper trading? Are there any specific cryptocurrencies that are recommended for beginners?
1 answers
- At BYDFi, we recommend using a combination of Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB) for paper trading futures. Bitcoin and Ethereum are widely recognized and have a strong track record in the cryptocurrency market. Binance Coin, on the other hand, offers unique advantages such as discounted trading fees on the Binance exchange. By using these cryptocurrencies, traders can familiarize themselves with the trading platform and gain insights into the dynamics of the futures market. However, it's important to remember that paper trading is not a substitute for real trading, and traders should always exercise caution and conduct thorough research before entering the live market.Nov 26, 2021 · 3 years ago
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