By Adedapo Adesanya
In its latest move, digital token trading platform, Bitfinex, has launched its revamped paper trading platform, with 18 spot and 16 perpetual trading pairs, including Bitcoin (BTC), Ether (ETH), Solana (SOL), and Polygon (MATIC).
The Bitfinex Paper Trading platform is designed for both sophisticated as well as new traders. For sophisticated traders, Paper Trading offers the opportunity to craft and backtest trading strategies, to see how they perform in a real-world environment.
For new traders, it provides the chance to try out trading for the very first time securely and risk-free.
The platform is integrated natively into the Bitfinex trading platform and is open to anyone with a Bitfinex account.
Bitfinex Paper Trading provides a simulated environment that replicates the Bitfinex live environment, mirroring the order book and leverage levels available in the real Bitfinex marketplace.
As Bitfinex is one of the deepest providers of liquidity for BTC and ETH, it is particularly attractive to customers who want to test strategies for the two largest crypto pairs.
Bitfinex’s paper trading platform serves to further democratise access to sophisticated algorithmic trading tools and data that have historically been the exclusive preserve of traders at investment funds or institutional trading houses.
Speaking on this, Mr Paolo Ardoino, CTO at Bitfinex, said, “The revamped paper trading platform serves the very many different types of traders we have on Bitfinex. From newer traders and smaller investors to larger professional traders and institutions, the platform provides the opportunity to trade in real-time and experience real market conditions without putting any capital at risk.
“It is also another example of how we are implementing our vision of delivering financial freedom and democratising access to finance and technology for the benefit of the wider community.”
Traders on the platform have access to the full suite of Bitfinex products, including the recently introduced Spread Ladder and also Bitfinex Pulse, a social network where traders can exchange ideas and discuss trading strategies.
