If you’re interested in cryptocurrency trading and selling but don’t want to incur any fees, you should probably think about giving Zabo a try.
Enjoying Crypto Without Fees?
The company is releasing a new system it’s calling “Paper Crypto” designed to give users a “risk-free, cryptocurrency trading simulation.” The goal is to give new and existing users exposure to various cryptocurrencies and educate them about its properties and growing benefits. The system is completely free to use.
Alex Treece, president of Zabo, explains in a statement:
We wanted a fun way to engage with cryptocurrency that didn’t require people putting their money at stake. Paper Crypto allows anyone to experiment and learn at their own pace.
The idea of putting your money into crypto and experiencing no risk is certainly a positive notion. One must wonder, however, just how realistic it is. Cryptocurrencies, unless they are stable coins like USD Coin or even Tether, are vulnerable to outside market influence. Thus, they boast extremely volatile natures that can put their prices at risk. Cryptocurrencies can rise just as easily as they can fall.
Traders experienced this all throughout 2017 and 2018. During the first year, prices for bitcoin, Ethereum, bitcoin cash, Litecoin and other digital assets were consistently on the rise, with bitcoin finishing out the year at nearly $20,000 per unit. It was a glorious time, and one that many investors and enthusiasts thought would never end.
Sadly, this wasn’t quite meant to be. The following year, bitcoin and its biggest competitors began sinking into oblivion, and ultimately lost anywhere between 80 or even 90 percent of their values by the time 2019 was ready to roll in. Bitcoin, for example, fell to the mid-$3,000 range by November of 2018, while Ethereum was trading for less than $100 at one point following a steady rise to $1,400 per unit in February of 2018.
Now, it appears the crypto winter is over and currencies like bitcoin are trading for over $5,700, but there’s still plenty of room for improvement. Investors must always remain wary of cryptocurrency’s volatile ways if they want to be truly prepared for the digital trading arena.
Still, however, the idea of no fees when you trade is a positive step forward. Paper Crypto will give users that sign up access to virtual money that they can use to purchase and sell any of the industry’s top 100 cryptocurrencies. Each client gets access to special portfolio tools, which track the client’s holdings and market prices.
What Can People Expect in the Future?
Executives claim they are looking to add more features to Paper Crypto by the end of the year.
Christopher Brown, the company’s CEO, states:
We want users to not only learn about cryptocurrency but get hands-on experience with the technology and be able to use it in a functional way.