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

# Accounts & switching

> Demo, on-chain, and API trading accounts — what each is for and how to switch between them.

Panther can hold more than one account, each for a different purpose. You choose which one is active with the **account switcher**, and everything — your balances, positions, and where new orders go — follows the account you're in.

## The three kinds of account

<CardGroup cols={3}>
  <Card title="Demo" icon="flask">
    **Paper trading.** Practice with simulated money against real, live prices. Nothing here touches real funds.
  </Card>

  <Card title="Trading (on-chain)" icon="wallet">
    Your **real, self-custody** account, funded with USDC. This is the default and the one most people use. You can have more than one.
  </Card>

  <Card title="API trading" icon="key">
    A **desktop-only** account that connects with your own Kalshi/Polymarket API keys. Appears as **Legacy** in the account switcher.
  </Card>
</CardGroup>

<Info>
  Not sure which is which for trading? See [On-chain vs API trading](/trading/onchain-vs-legacy) for a side-by-side comparison and setup steps.
</Info>

## Switching accounts

The account switcher lives at the top of the **Balances** panel and in the **Portfolio** panel's summary bar. It shows the active account's name and balance.

![The account switcher open in the Portfolio panel, showing Demo and Trading accounts with balances](https://cdn.getpanther.app/docs/web-account-switcher.png)

<Steps>
  <Step title="Open the switcher">
    Open the **Balances** panel (press <kbd>/</kbd>, type `BAL`) and click the account name at the top.
  </Step>

  <Step title="Pick an account">
    Choose the account you want. A checkmark marks the one that's currently active.
  </Step>

  <Step title="You're switched">
    The change is instant. Your balances, positions, orders, and order routing all update to the account you chose, and Panther remembers it next time you open the app.
  </Step>
</Steps>

<Note>
  The **Demo** option appears once demo mode is available on your account, and the **Legacy** (API trading) option appears only on desktop when you've connected API keys. If you don't see one, that's why.
</Note>

## What changes when you switch

Switching accounts changes what you're looking at and trading with:

| What                   | Follows the active account                                     |
| ---------------------- | -------------------------------------------------------------- |
| **Balances**           | You see that account's funds.                                  |
| **Positions & orders** | Your Portfolio shows only that account's holdings and history. |
| **New orders**         | Any trade you place goes through the active account.           |

## Using more than one trading account

You can create several **on-chain trading accounts** — handy for separating strategies or keeping funds apart. Each has its own label and its own wallets.

<Steps>
  <Step title="Open the switcher">
    Click the account name at the top of **Balances**.
  </Step>

  <Step title="Add a new account">
    Choose **+ New account**, give it a name, and confirm. Panther sets up its wallets just like your first account.
  </Step>

  <Step title="Fund it">
    Switch to the new account and [add funds](/accounts/deposits) to start trading with it.
  </Step>
</Steps>

## What's next

<Columns cols={2}>
  <Card title="Demo mode" icon="flask" href="/accounts/demo-mode">
    Practice with paper trading before risking real funds.
  </Card>

  <Card title="On-chain vs API trading" icon="arrows-left-right" href="/trading/onchain-vs-legacy">
    Choose how you trade and set it up.
  </Card>
</Columns>