Paper trading means placing practice trades with pretend money so you can learn without risking your own. On Bloxwap, that's Demo mode. You get $1,000 in practice funds, the same markets and live prices as real trading, and the same UP and DOWN buttons. It costs nothing, and you don't need an account to start.

Everything you do in Demo stays in Demo. Your practice trades have their own balance and their own history, separate from any real money you add later.

Step 1: Open Bloxwap in Demo

Go to bloxwap.app on your phone. You don't need to sign up: new visitors start in Demo with $1,000 in practice funds. On the welcome card, tap Let me try it. If you're already signed in, switch to Demo from your profile.

Step 2: Pick a market and set your size

Choose a market, such as Bitcoin, from the market picker. Set how much of your practice balance to use and your leverage, which multiplies the size of the trade. At 10× leverage, $100 controls a $1,000 position, so a 1% price move is about a 10% gain or loss on your $100. Start small, the way you would with real money.

Step 3: Add a stop-loss

A stop-loss closes the position automatically if the price moves against you by the amount you choose. It works in Demo exactly as it does live. The stop-loss guide shows how to set one.

Step 4: Tap UP or DOWN

Tap UP if you think the price will rise (going long), or DOWN if you think it will fall (going short). The trade opens at the live price on your screen.

Step 5: Watch it and tap CLOSE

Your entry price and profit or loss update live while the trade is open. Tap CLOSE whenever you want to exit. The result lands in your practice balance.

Step 6: Review and repeat

Open History (Demo) from your profile to see what worked. Run out of practice funds? Add more with Deposit in Demo; practice funds are unlimited.

What to practice

Sizing. Try the same trade at different sizes and watch how much the result swings.
Leverage. Compare 2× and 10× on the same move. Higher leverage leaves less room before liquidation, when the exchange closes a position whose margin runs too low.
Stop-losses. Set one on every trade until it's a habit.
Both directions. Practice shorts as well as longs. The guide to shorting Bitcoin walks through one.
Closing on a plan. Decide your exit before you tap, then stick to it.

What paper trading can't teach you

Demo is built to teach the controls, not to copy every cost of real trading:

Fees. Demo trades don't charge fees. Real trades pay a fee when they open and again when they close, on the full position size. The fee guide shows the numbers.
Fills. Demo opens at the price on your screen. A real order fills on Hyperliquid's order book, so the price you get depends on how the market moves and on liquidity.
Feelings. Losing practice money doesn't feel like losing your own. Expect to be more cautious, or more impulsive, once it's real.

When to switch to live

You're ready to try a small live trade when you can say yes to each of these:

You can open, manage, and close a trade without hunting for buttons.
You set a stop-loss without thinking about it.
You can explain how leverage changes your gain or loss on a 1% move.
You know what a round trip costs in fees.
You've picked an amount you could lose entirely without it affecting your bills or savings.

When you switch, keep the size small and the leverage low. How to start trading on your phone covers funding your account and placing that first real trade. If perps are new to you, start with What are perpetual futures?

FAQ

Is paper trading on Bloxwap free? Yes. Demo mode costs nothing and uses practice funds only.

Do I need an account to paper trade? No. Open bloxwap.app and you start in Demo.

Does Demo use real prices? Yes. Demo trades open and close at live market prices.

Can I lose real money in Demo? No. Demo only uses practice funds. Real money is only at risk after you add funds and switch to live trading.

Live trading involves real risk. You can lose money, especially with leverage. Only trade what you can afford to lose.