Altcoin Fantasy, found online at AltcoinFantasy.com, is like fantasy sports for the crypto trading industry. Discover how it works today in our review.
What is Altcoin Fantasy?
Altcoin Fantasy promises to teach you how to trade cryptocurrency in a risk-free environment. It’s a crypto trading simulator where you can test your skills without betting real money.
The platform has elements you’d expect to see on a fantasy sports website, including weekly contests and a leaderboard.
Plus, Altcoin Fantasy gives away real money to users who win their weekly contests. You don’t have to deposit anything into the platform. However, you can win real money thanks to Altcoin Fantasy’s partnerships with various companies.
Altcoin Fantasy was launched in January 2018. There’s a website, AltcoinFantasy.com, as well as a mobile app for Android and iOS. Altcoin Fantasy is currently available to users in the United States and Canada, although the company wants to expand into Hong Kong, South Korea, and Japan over this coming summer.
How Does Altcoin Fantasy Work?
Altcoin Fantasy uses real-time data gathered directly from the live order books of real exchanges. Using this data, Altcoin Fantasy supports simulated trading of 1600+ coins.
You can buy and sell coins on Altcoin Fantasy just like you would buy and sell coins on an ordinary exchange. Your portfolio goes down or up based on price movements, and you can test different strategies to maximize your profit. The main difference, of course, is that you’re not putting any real money at stake.
Overall, Altcoin Fantasy claims to be the “best fantasy crypto trading game.” Anyone can hone their skills as a trader without losing their hard-earned savings.
After signing up for Altcoin Fantasy for the first time, you can start joining weekly contests. If you join a contest, then you’ll start with $10,000 USD in virtual cash. You can then buy or sell any cryptocurrency.
The goal is to have the highest balance by the end of the contest period. The player with the biggest balances wins real cryptocurrency. Yes, you don’t have to bet real crypto on Altcoin Fantasy, but you can win real crypto. Some prizes also list contest prizes in USD. One contest for late June, for example, is giving away $650 USD to the winner. The top 50 traders will win a share.
Core functions of the platform include:
Choose an available contest from different sponsors. You can browse the list of contests using the website or app. View the prize for each contest, then join any contest for free. You’ll start the contest with $10,000 in virtual USD. Your goal is to buy cryptocurrencies that will appreciate the most by the end of the contest period. If you can do that, then you’ll win the prize.
After signing up for a contest, you’ll receive $10,000 in virtual USDs. You can buy and sell cryptocurrencies throughout the contest period to maximize your gains.
Some contests give everything to the top winner. Other contests split the prize among the top 50 or 100 traders. You can win bitcoin, Stellar Lumens, Ethereum, and other cryptocurrencies, although some contests also list prizes in USD.
Altcoin Fantasy promises to give away hundreds of dollars in prizes every week free of charge. You can win real money without depositing anything into the platform.
How to Use Altcoin Fantasy
Ready to use Altcoin Fantasy for the first time? Here’s the step by step process you can use to sign up today:
Step 1) Visit AltcoinFantasy.com or download the mobile app for iOS or Android
Step 2) Sign up for an account
Step 3) Register for a contest before it begins or join an ongoing contest
Step 4) Trade cryptocurrencies during the contest period
Step 5) At the end of the contest, Altcoin Fantasy will turn all your holdings back into USD (they’ll sell your virtual crypto at market rates)
Step 6) Check back at the end of the contest period to see where you stand in the leaderboard.
Step 7) Prizes are awarded to winners with the highest value of cryptocurrency in USD
How Does Crypto Fantasy Make Money?
What’s the catch behind Crypto Fantasy? How can the company give away real money and cryptocurrency without requiring users to deposit any real money?
Well, Crypto Fantasy has partnered with various companies to create its contests. These companies sponsor the contest and provide the prize.
In some contests, you’ll need to opt-in to receiving marketing communications from the company sponsoring the contest. However, you can always opt-out of receiving this marketing at a future point.
As of June 2018, Crypto Fantasy claims to have 9,700+ players that have made a total of 200,000+ trades. Crypto Fantasy has given away more than $5,000 USD in payouts.
Who’s Behind Altcoin Fantasy?
Altcoin Fantasy is led by CEO Tom Chan. Chan previously worked for gaming giant EA in the video game industry. He became interested in cryptocurrency when Ethereum launched in 2015. Then, Chan decided to combine two surging trends – cryptocurrency and fantasy trading – together to create Altcoin Fantasy.
Chan also founded Altcoin Fantasy with more altruistic goals. Here’s how he explained it in a recent interview on CryptoSlate:
“A lot of people were investing in the space without knowing what they were buying – they simply listened to a friend who got rich in the crypto space or saw that cryptos, and Bitcoin in particular, was hot and just blindly followed suit. Here at Altcoin Fantasy, we believe this isn’t the correct way to risk your hard earned savings.”
Crypto Fantasy is based in Vancouver, Canada.
Altcoin Fantasy in Conclusion
Altcoin Fantasy is a mobile app and website designed to introduce you to the world of cryptocurrency trading. It’s like fantasy sports combined with cryptocurrency trading. You don’t deposit any real money or cryptocurrency into the platform, but you have a chance to win real money by joining weekly contests. Sometimes, a company sponsors these contests and will require you to opt-in to marketing communications. Otherwise, however, there’s no catch.