Absolutely, this is great for testing new verticals. You can get very specific in what you sell. Even when you switch to your primary domain, the mydomain.shopify.com site will automatically redirect to the new domain so you won't lose any return customers.
Yes, this still works and you can sell up to 50 orders. You cannot use your own domain until you add a credit card, so your domain will be mydomain.shopify.com until cc is added.
According to Shopify these are the limits. You cannot:
install paid apps
assign a custom domain
process more than 50 orders
create more than 10 private apps
If you are looking to install Oberlo, you can do that. I have installed it many times on my development stores.
As far as I know you can do real orders. I haven't tested with a test store because we usually go live before we do anything but test orders. Let me see if I can find out before I set up a store for anyone.
I have a Shopify partner account. PM me your requested site email and requested site name and I will set up an account for you. Unless you purchase your own domain, or get more than 50 orders, you will have unlimited trial time.
You can have only one store in Shopify. If you want another you will have to pay for another.
What you can do, however, is create a more general store and niche out the categories.
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