Crypto prop firms: conditions, exchanges and payouts in USDT

What crypto prop firms are

A crypto prop firm sells the trader an evaluation. You pay for the challenge (in English, evaluation), trade by its risk rules and, if you reach the target and never breach the drawdown limit, you get a funded account. From that account, the prop firm pays you a share of the profit: usually 80%, and in some programs 90% and even 100%.

The word "account" is easy to misunderstand here. HyroTrader states directly in its terms: trading at all stages, from the challenge to the funded account, is simulated, and there are no real trades on the market. The simulated balance has no monetary value. But HyroTrader transfers the payout based on the simulation results in real money. Hash Hedge in its terms also calls the evaluation stages a controlled simulated environment, and the money in such accounts not real.

HyroTrader itself divides crypto prop firms into three types. Classic ones trade only with their own money. Hybrid ones combine real capital and simulated accounts. The third type works only on simulation, and HyroTrader counts itself among them. The prop firm is not a broker: it does not accept your money for trading. Access to capital here means the right to trade a large demo account and receive payouts for it if the rules are followed.

Prices on such an account are live. HyroTrader takes quotes from Bybit, Vanta Trading trades at Hyperliquid, Databento and Massive prices. The chart moves the same way as on an exchange, only your order does not enter the real order book. That is why crypto prop firms have rules that an exchange does not: for example, HyroTrader does not count all profit from trades that look like gaming the demo execution.

Crypto prop vs forex prop: what's the difference

The first difference is in time. The cryptocurrency market is 24/7, and trading on weekends goes the same way as on weekdays. Bitcoin.com, in its review of crypto prop firms (updated 10/08/2026), warns separately: a position left overnight or over the weekend carries real risk. On Saturday you may be at your country house without a laptop, while the position is still open.

The difference is clearly visible within a single prop firm. At Era Trade on Bybit, holding positions over the weekend is allowed both on the challenge and on the funded account. On forex, metals and indices at the same Era Trade, holding trades over the weekend is prohibited.

Next, the instruments. Crypto prop trading almost always runs on perpetual futures (perps) to USDT, not on spot. Hash Hedge does not offer crypto spot at all, only futures. Era Trade on Bybit only counts futures pairs to USDT: spot, options, pairs to USDC and inverse contracts do not count toward the result. HyroTrader on a Bybit demo account offers more than 700 USDT perpetuals.

Most forex traders first encounter funding on the challenge itself. It is a payment between traders with long and short positions on a perpetual future. The prop firm does not take it: Hash Hedge states that funding goes between traders, not to the platform, and changes the balance at the moment it is credited. Vanta Trading calculates funding the same way as Hyperliquid. On Hyperliquid it is paid every hour, and the interest component equals 0.01% per 8 hours, which is 11.6% per annum in favor of shorts. Hold a long for a week at high leverage and funding will gradually eat into the balance, even if the price stays flat.

And leverage. In crypto the spread is huge: from 1:5 at Hash Hedge to 150x on BTC and ETH at HyroTrader. The higher the leverage, the less price movement is needed to hit the daily limit.

Prop firms for cryptocurrency traders in the PMC catalog

The PropMarketCap catalog lists 7 prop firms and 130 challenges (snapshot 29.10.2026). Cryptocurrency is among the markets for six of the seven; only SpiceProp does not have it. But crypto as the main market, with separate rules for perpetuals and exchange quotes, is offered by four.

The ByBit platform is listed for 31 of the 130 challenges. That is all 14 Era Trade challenges and all 17 HyroTrader challenges. All 7 prop firms in the catalog accept crypto payments, and Hash Hedge has no other payment methods.

HyroTrader works only with crypto and calls itself a crypto prop firm right on its homepage. Funded account up to $200,000, profit share 80% at the start and up to 90% on the One-Step and Two-Step formats. Overnight and weekend holding is allowed, there is no mandatory stop-loss, and drawdown is static (calculated from the starting balance, not from the maximum).

Hash Hedge trades in its own terminal: alongside crypto there are indices, metals, futures, stocks and energy. Leverage up to 1:5, account up to $200,000. Trading on weekends and during news is allowed. On the Crypto + TradFi market positions can be held for several days, while on US stocks all positions are closed at the end of the trading day.

Era Trade offers crypto via a Bybit subaccount, and forex, metals, indices and stocks via MT5 and TradeLocker. Leverage on the card is 1:100, account up to $300,000. On low-liquidity assets Era Trade may manually adjust the result of a trade, so it is better not to touch small coins here.

Vanta Trading sells a one-phase challenge: target 10%, overall limit 5%, daily 3% or 5% to choose from. Its crypto sits alongside forex, indices, commodities and stocks. Leverage for the Crypto class is capped at 10x, on BTC and ETH at 7x, on DOGE, SOL and XRP at 4x (rules updated 14.10.2026).

In Guru99's foreign roundup of crypto prop firms there is FTMO. FTMO does not serve Russia, Belarus or Kazakhstan, but it accepts traders from Armenia, Georgia, Azerbaijan, Moldova and EU countries. Crypto is only one of FTMO's markets, so what follows is about the four crypto prop firms.

Crypto prop firms: whose prices prop firms trade on

With an exchange everything is clear: the price is where real orders met. With a prop firm the account is simulated, and the question "where do the prices come from" becomes the main one. It determines whether your chart will match what you see on the exchange, and how a stop will be executed in a sharp move.

HyroTrader offers several options. The first is its own Bybit demo account connected via API: more than 700 USDT perpetuals and leverage up to 150x on BTC and ETH. The second is its own Hyro platform with live Bybit data and TradingView charts. The third is BloFin, with more than 80 USDT-M pairs and also up to 150x on BTC and ETH. There are also the Tealstreet and Tiger.com terminals on Bybit data.

The Bybit demo is a separate account with its own user ID, and it works only for demo trading. The basic trading rules are the same as on a real account. Orders in the demo are stored for 7 days. But the Bybit demo has no real slippage or market depth, and HyroTrader openly admits this in its rules.

Hence the restriction: under HyroTrader's rules you cannot trade on Bybit from countries where Bybit is restricted, and the trader is then moved to the Hyro platform. VPN is prohibited. If HyroTrader decides that you are profiting from unrealistic execution, it may move you to Hyro with realistic slippage.

Vanta Trading has simulated execution, and prices come from Hyperliquid, Databento and Massive. The crypto commission is 0.03%, funding is the same as on Hyperliquid. If you are used to Hyperliquid, the charts will look familiar.

Hash Hedge trades in its own terminal. Hash Hedge does not name the source exchange for quotes in its public rules, help center or terms, so its charts should not be compared directly with Bybit or Binance. Its commissions are: maker 0.01%, taker 0.03% of the full position size including leverage. An example from the Hash Hedge help center: a $10,000 position with 1:5 leverage equals $50,000, the maker pays $5, the taker $15.

With Era Trade everything is simpler: each challenge on Bybit is a separate subaccount, and the quotes there are exchange quotes. HyroTrader uses commissions at the Bybit VIP 0 level for USDT perpetuals: 0.02% for the maker and 0.055% for the taker.

Crypto prop trading firms: targets, limits, profit split

The risk rules at crypto prop firms are similar to forex: a profit target, a daily loss limit and an overall drawdown limit. The difference is in the details. The figures are for a $10,000 account according to the PMC catalog as of 29.10.2026.

Two-step challenge:

• Hash Hedge: targets 5% and 6%, daily limit 5%, overall 10%, split 80%.
• HyroTrader (Two-step): targets 10% and 5%, daily 5%, overall 10%, split 80% and up to 90%.
• Era Trade: targets 8% and 5%, daily 5%, overall 10%, split 80%.

Two-step challenges have the same limits but different targets. Hash Hedge asks for 5% and 6%, HyroTrader 10% at the first stage. On a $10,000 account that is $500 versus $1,000 in profit before the second stage with the same margin for error.

One-step challenges differ more. The target is around 10% for all of them (11% at Era Trade), while the limits diverge by almost a factor of two.

Loss limits of the one-step challenge on a $10,000 account, as a percentage of the balance. At Vanta Trading the daily limit can be 3% or 5%. PMC catalog and Vanta Trading rules, verified 29.10.2026.

The profit share and its distribution also differ. HyroTrader starts at 80% and raises it to 90% on One-Step and Two-Step. Hash Hedge pays 80%, and with the paid +10% option gives 90%. Era Trade pays 80%. Vanta Trading by default gives 100% of the profit, and for the cheaper challenge the trader agrees to a 60/40 split.

A small detail that is easy to forget: the daily limit reset time. At Hash Hedge the daily limit resets from 00:00 to 00:13 UTC+4 on the Crypto + TradFi market, that is, at 23:00 Moscow time. A trade opened at 22:30 Moscow time lives in two trading days of the prop firm.

Leverage and daily limit: example on $10,000

Let's take Hash Hedge's two-step challenge on $10,000: daily limit 5%, that is $500. You open a bitcoin buy at 100,000 using the full available leverage of 1:5. Position size $50,000.

The price moves against you by just 1%, to 99,000, and the loss on the position is already $500. The daily limit is fully used up. The taker fee for entry at Hash Hedge's rate of 0.03% of $50,000 is another $15 on top. If this happens on a Saturday night, you will learn about the closed account in the morning.

Compare with an unleveraged position. The same $10,000 in bitcoin loses $500 only on a 5% drop, to 95,000. With 1:2 leverage the position is $20,000, and the daily limit runs out on a 2.5% drop, to 97,500. Each time you increase leverage, you divide the price's room to move by the same number. HyroTrader's 150x leverage does not oblige you to trade at 150x. It is a ceiling, not a recommendation. If you want to refresh how to calculate a stop from position size, take a look at the breakdown of stop-loss and take-profit with risk calculation.

How much a challenge costs at crypto prop firms

Prices for a $10,000 account according to the PMC catalog as of 29.10.2026, all in dollars. You can only compare fairly within the same formats: two-step with two-step, one-step with one-step.

The cheapest one-step entry as of 10/29/2026 is at Vanta Trading: $76 instead of the usual $127. This is a promotion: on the Vanta Trading website, code SPOOKY40 gives a 40% discount on Classic until November 6. Even cheaper is available on worse terms: from $64 with a 60/40 split and a 3% daily limit.

HyroTrader has a detail that changes the calculation. On the One-Step and Two-Step formats, the challenge fee is refunded with the first payout. If you reach a payout, the $119 for the two-step challenge will be returned along with it. The Zero-step fee ($169) is not refunded.

If you need an account without an evaluation, Era Trade has an instant $10,000 account for $399: limits of 3% per day and 5% total. HyroTrader has a Zero-step format for $169 with a 10% target, 3% daily drawdown and 5% overall.

Also factor in the cost of mistakes. Two failed attempts at a $10,000 two-step challenge from Hash Hedge or Era Trade cost $198, three cost $297. If you are not sure you will pass on the first try, budget for several attempts, not one.

The cheapest programs in the cards: HyroTrader from $59, Hash Hedge from $79, Era Trade from $99 (these are smaller accounts than $10,000). All challenges with prices and filters are collected in the PMC challenge catalog.

Crypto payments and payouts in USDT and USDC

You can pay with crypto at all four crypto prop firms. What else they accept and how quickly they pay back differs.

Hash Hedge accepts only USDT or USDC on the ERC-20, TRC-20, BEP-20, Arbitrum, Optimism and Solana networks. There are no cards or bank transfers. The account is issued immediately, there is no identity verification (KYC) at purchase, and 30 minutes are given for the transfer.

HyroTrader accepts card or crypto and explicitly states that it strongly prefers crypto. The list of coins is long: BTC, ETH, USDC, DOGE, LTC, DAI, BCH, APE, SHIB, USDT and the Polygon network. According to the catalog, Era Trade accepts crypto, card and SBP. Vanta Trading accepts card or bank transfer via Stripe, and crypto via NowPayments.

In its review, Bitcoin.com writes that crypto-only prop firms usually pay out in USDT or USDC, often within 24 hours. In our catalog that is the case, but the timeframes vary.

HyroTrader withdraws profit in USDT or USDC with no withdrawal fee and processes the request within 24 hours. All positions must be closed at the time of the request. One payout is no more than 5% of the initial balance: on a $10,000 account that is $500 at a time.

Hash Hedge pays in USDT every 14 days. Minimum $100, maximum $10,000 per account per 14 days, transfer within 72 hours. Example: on a two-step $10,000 account you earned $600 in two weeks. At an 80% share, that is $480 to be paid out. A crypto transfer cannot be cancelled, so verify the wallet address and network before the request.

Era Trade via the PMC card pays in USDT (TRC20, ERC20, BEP20), BTC, ETH or LTC. The payout period is 15 or 30 days at your choice, processing up to 5 business days. Per period you can withdraw from 1% to 10% of the starting balance, and you need at least 3 profitable days.

Vanta Trading pays every 7 days: in USDC on-chain or by bank transfer in dollars via Stripe. Every payout goes into a public registry, and a USDC payout can be verified on-chain. Identity verification via Stripe must be completed when activating the funded account.

None of the four pays in rubles to a card. If you don't have a wallet for USDT or USDC, sort that out first, and only then choose a challenge.

Crypto prop firms in Russia and the CIS: who accepts

From Russia, crypto prop trading is available in three prop firms out of four. Each answer is taken from its official terms.

HyroTrader in clause 12.1 of the terms strictly closes Russia and Belarus. Other CIS countries are not on this list: Kazakhstan, Uzbekistan, Kyrgyzstan, Tajikistan, Armenia, Georgia, Azerbaijan, Moldova and EU countries are open. Under clause 12.2, for countries on the FATF monitoring lists and under sectoral sanctions, HyroTrader may conduct enhanced screening, but does not refuse in advance.

Hash Hedge in clause 4.3 of the terms closes access for sanctioned persons and countries under full UN, EU, UK and US sanctions. The examples name Cuba, Iran, North Korea, Syria and Yemen. Russia and Belarus are not in the text, and the site has Russian, Ukrainian and Kazakh versions.

Vanta Trading closes countries under comprehensive US, UK, EU or UN sanctions. In the PMC card these are Cuba, Iran, North Korea and Syria. Russia and Belarus are not on the list.

Era Trade states in its help section that it is ready to work with all traders over 18. There is no list of prohibited countries either in the help section or in the PMC card.

Do not try to circumvent HyroTrader's ban: VPN is prohibited by its rules. The Funded Way, for example, explicitly states that it blocks the account without a refund for circumventing restrictions via VPN or false data. A full breakdown for Russia, including prop firms for forex, is in the article prop firms for traders in Russia.

Crypto prop firms and Ukraine

HyroTrader allows traders from Ukraine, except for five regions: Crimea, Donetsk, Kherson, Luhansk and Zaporizhzhia oblasts. Hash Hedge has a Ukrainian version of the site, and Ukraine is not on the restrictions list. Vanta Trading does not close Ukraine: the country does not fall under its definition of full sanctions. Era Trade works with all adult traders.

Crypto law and taxes in Russia

The law "On Digital Currency and Digital Rights" was signed on August 4, 2026 and came into force on September 1, 2026. From July 1, 2027, crypto transactions can only be conducted through licensed intermediaries. If you plan to buy USDT to pay for a challenge, keep this date in mind.

The same law retained the ban on settlements in digital currency within the country for goods, works and services. Exceptions: foreign trade contracts, mining rewards and network fees. For foreign stablecoins, the law introduced a separate category: non-deliverable foreign digital instrument.

As for taxes. According to the FTS, personal income tax is 13% with a combined base of up to 2.4 million rubles per year and 15% on the amount above. Digital currency is explicitly named among the tax bases. The FTS has not separately clarified how prop firm payouts should be taxed; the issue is debatable. HyroTrader states in its help section that the trader pays taxes themselves, and the prop firm does not provide tax advice.

Best crypto prop firms: PMC rating

We call the best those with the highest overall rating on PropMarketCap. As of 29.10.2026, among crypto prop firms, Hash Hedge and Era Trade come first.

Crypto prop firm rating as of 29.10.2026: Hash Hedge 4.8 out of 5 (2 reviews), Era Trade 4.6 (1 review), HyroTrader 4.0 and Vanta Trading 4.0 (no reviews yet). There are few reviews in the catalog, so look at the number of reviews next to the stars. HyroTrader and Vanta Trading's 4.0 rating so far rests on the rules and card data, not on the experience of traders who bought from them.

The overall rating consists of five parts, and trader reviews are one of them. Only reviews from traders with a confirmed challenge purchase or payout at that prop firm affect the stars. A review from an unverified user does not affect the rating. The full top-7 with tabs by CIS country is in the article rating of prop firms for traders from the CIS.

If choosing by task rather than by stars:

• Need card or SBP payment and trading on Bybit - Era Trade.
• Have USDT, want low leverage and payouts every 14 days - Hash Hedge.
• Trade perpetuals on Bybit, live outside Russia and Belarus, and a 24-hour payout matters - HyroTrader.
• Want one phase, frequent payouts and a public registry - Vanta Trading.

If you have read reviews of prop firms from foreign roundups, note: of those, only FTMO is in the PropMarketCap catalog; we have no rating of our own for the rest. How to tell a genuine review from a paid one is covered in the article reviews of prop firms.

How to choose a crypto prop firm: five checks before paying

The challenge fee is the last thing you should look at. A cheap challenge is worthless if the rules don't fit your trading or the prop firm doesn't accept traders from your country. Check in order.

1. Country. First, make sure the prop firm accepts traders from the country where you live. For Russia, these are Hash Hedge, Era Trade and Vanta Trading; for Kazakhstan, Uzbekistan and Kyrgyzstan, HyroTrader is added to them. Vanta Trading, for example, verifies identity through Stripe when activating a funded account, so the country will come up either way.
2. What you pay with and where you get paid. Card or SBP only - look at Era Trade. Hold USDT - all four will work. For payouts in USDT and USDC (stablecoins pegged to the dollar), you need your own wallet on the network you specify in the application.
3. Where you trade. Used to Bybit - HyroTrader or Era Trade. Trade on Hyperliquid - Vanta Trading. Ready for a new terminal for the sake of TradFi next to crypto and modest leverage - Hash Hedge.
4. Leverage versus limit. Divide the daily limit in dollars by your position size. That gives you the percentage of movement against you the account can withstand. With a $500 limit and a $50,000 position, that's 1%; with a $10,000 position, it's already 5%.
5. Payout rules. Look not only at the split, but also at the cap on a single payout, the frequency and the application conditions.

An example for the last point: on a $10,000 funded account you earned $1,000, that is 10%, and closed all positions.

At HyroTrader your share is $800, but a single payout cannot exceed 5% of the starting balance, that is $500. Hash Hedge will transfer $800 once 14 days have passed since the start of the period, and will do so within 72 hours after the application. Era Trade will pay $800 if there were at least 3 profitable days in the period: the cap there is 10% of the starting balance, $1,000. Vanta Trading by default gives you all the profit, $1,000, but if you took the cheap challenge with a 60/40 split, $600 will arrive.

The numbers are the same only on paper. For a trader who earns rarely but big, HyroTrader's $500 cap per application matters more than its 24-hour speed. For someone who wants to receive a little every week, Vanta Trading is closer. You can compare programs with the same account size in the PMC challenge calculator.

Risks of crypto prop trading

There is no risk-free crypto prop trading: prop firms sell an attempt, not income. Most participants fail the challenge, and the money for the attempt is not refunded. With crypto, there are additional traps.

The rules of crypto prop companies change often: Vanta Trading, for example, updated its leverage limits on 14.10.2026. Before buying, open the rules section on the prop company's page and check the leverage and weekend rules on the day of payment. News about changes to terms and promotions is sent by the PropMarketCap Telegram channel.

Who crypto prop trading suits

Crypto prop trading suits those who already trade futures and can keep risk as a percentage of the account. If you have a system and lack the deposit, a crypto prop company gives you a $10,000 account for $99. With your own money under the same position, you would be risking your entire deposit.

Calculate your buffer in advance. On the one-step HyroTrader challenge for $129, the daily limit is 4%, that is $400, the overall limit is 6%, that is $600, and the target is 10%, $1,000. If you risk 1% ($100) per trade, in one day you can lose 4 trades in a row, and over the whole challenge 6. To reach the target at a profit-to-risk ratio of 1:1, you need 10 more profitable trades than losing ones. If your demo stats do not deliver that, the challenge will not change it.

But the challenge tests discipline, not forecasting. One overnight candle on Saturday can breach the daily limit, and it does not matter that the price comes back a day later. If you have never traded with a daily loss limit, practice with the same rules on a Bybit demo account, and then buy an attempt.

If you are only just figuring out what crypto is and what this is all about, it is too early to take on a prop account. First understand how the market works. And if it is still unclear what this trading is at all, start with the article trading in simple words and the breakdown of what prop trading is and how a challenge works. The rules of any challenge are convenient to read via the free PMC Academy lesson on challenge rules.

Summary

Crypto prop firms let you trade perpetuals on an account of up to $200,000 and receive payouts in USDT or USDC. Hash Hedge, Era Trade and Vanta Trading are open to Russia, and HyroTrader is also open to the rest of the CIS. Choose by the rules: leverage, weekends, payout cap and country, not just the entry fee. Find a crypto challenge in the PMC calculator: it will show programs that match your budget and rules.