> ## Documentation Index
> Fetch the complete documentation index at: https://docs.cove.trade/llms.txt
> Use this file to discover all available pages before exploring further.

# Paper trading

> Practice with virtual USDC and real market prices.

A Paper wallet starts with **\$10,000 in virtual USDC**. Use it to learn Cove's trading controls without spending real funds.

<Steps>
  <Step title="Open Paper">
    Send `/paper` in your private Cove chat. This opens the **Paper** profile.
  </Step>

  <Step title="Create a practice wallet">
    Choose **Create Paper Account** if needed. Some labels still use “Account.”
  </Step>

  <Step title="Check the mode and practice">
    Verify the **⚠️ 📄 PAPER** label. Paste a token, choose a buy amount, and follow the result in `/positions`. Try the bot's trading and order controls.
  </Step>
</Steps>

<div className="cove-guide-figure">
  <Frame caption="Paper trading mode with a virtual balance and paper-account controls.">
    <img src="https://mintcdn.com/cove-8695a88b/5AGVnyufRiehO7dX/assets/guide-screenshots/paper-hub.png?fit=max&auto=format&n=5AGVnyufRiehO7dX&q=85&s=c2c42e3613cb62a4c8688e7f97165ab4" alt="Paper trading mode with a virtual balance and paper-account controls." width={733} height={702} className="cove-guide-screenshot" data-path="assets/guide-screenshots/paper-hub.png" />
  </Frame>
</div>

## Add funds or reset

Return to `/paper`. Funding choices include **+\$5k**, **+\$10k**, **+\$25k**, and **+\$50k**. **Reset to \$10k** resets the practice balance; follow any confirmation shown.

Paper results are simulated and do not establish that a real trade would fill at the same price.

## Return to real trading

Open `/profiles`, choose a real profile such as **Main**, and check your wallet selection.

Paper wallets cannot deposit, withdraw, transfer, or use money products. They are excluded from Mini Apps and CSV exports. They count toward the total wallet limit, not the five-real-profile limit.

<Warning>Deleting or revoking a Paper wallet removes it permanently. Real-wallet recovery does not apply.</Warning>