Similar to forex trading, trading virtual currencies requires experience and a certain knowledge level. Interestingly, there is a fantasy cryptocurrency trading league whose main aim is to virtually involve participants in the cryptocurrency market, without the negative outcomes in real life.
According to a recent press release, Bagholders.com is the team behind the fantasy league. Basically, this is a platform that brings together industry enthusiasts to enjoy the exciting side of cryptocurrency trading.
Bagholders.com tracks over 1,700 cryptocurrencies across hundreds of exchanges. As a result, the platform boasts real-time data regarding price behavior and volume of the cryptocurrencies. In essence, participants can use the data to make decisions that mirror the real world situation.
User-friendly and Community-driven
In particular, fantasy trading is just one aspect of the platform. There are other activities like a discussion forum. Here, participants “discuss and rate both exchanges and coins.” As a result, the participants acquire an objective perspective of the cryptocurrency industry.
Essentially, the platform mirrors a real trading ecosystem but the difference comes where traders use fantasy assets.
The Bagholders.com website comes with a user-friendly interface. Particularly, the website incorporates buttons for the supported exchanges and even an ICO calendar. Further, the platform tracks the latest news in the cryptocurrency world. In short, users have access to a platform that offers the services of a typical crypto marketplace.
However, the most interesting feature of the platform is the ability for participants to compete for prizes. In this sense, the platform mirrors a typical gaming platform complete with leaderboards. On top of that, the platform incorporates an ingenious compensation matrix where both losers and winners get rewarded.
Fantasy Trading League as Preparation for the Real Thing
Further, the platform includes a Coin Price Map feature “which tracks and ranks Bitcoin (BTC) prices by country.” Basically, the feature is important to those traders who want to exercise arbitrage across exchanges and countries. Clearly, the price tracking feature is only for Bitcoin.
Similar to a typical CFD trading platform, the Bagholders.com platform includes a risk warning. The warning reads, “Trading crypto currencies carries a high level of risk. You may sustain a loss of some or all of your invested capital, therefore, you should not speculate with capital that you cannot afford to lose.”
Further, the platform does not accept liability for any losses incurred. The information it offers in terms of research is only for commentary purposes.
Therefore, as much as the platform is a fantasy cryptocurrency trading league, it offers an in-depth view into the real-world, fully immersing you into its pitfalls and wins.
This article should not be taken as, and is not intended to provide, investment advice. Users are ultimately responsible for the investment decisions he/she/it makes based on this information. It is your responsibility to review, analyze and verify any content/information before relying on them. Trading is a highly risky activity. Do consult your financial adviser before making any decision. Please conduct your thorough research before investing in any cryptocurrency and read our full disclaimer.
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