One of the main drawbacks to trading cryptocurrencies is the level technical competence required. Buying Bitcoin or Ethereum using fiat then moving it to an exchange while waiting for the transaction to be mined can be a daunting experience the first time. Get one digit wrong in that wallet address and your crypto will literally disappear into the ether.
It just so happens that there is an easier path to trading than this. eToro gives traders an easy path which doesn’t require the installation of specific software or wallets. Everything can be done from eToro’s online platform making the whole process far less intimidating for those new to cryptocurrency trading.
The multi-asset brokerage which was founded in 2008 has entered into the world of cryptocurrencies for a number of reasons. Blockchain based digital currencies are securely encrypted offering fraud prevention and are accessible all across the world. News about Bitcoin bans has been largely misreported, trading is still openly accessible to many countries including India, South Korea, Japan and most of Northern Europe. The North and South American continents also enjoy the freedom to trade in virtual currencies.
Even with the current market correction the total market capacity of cryptocurrency is still up over a thousand percent on the same period last year. Very few other assets have seen such growth which is why they make a good alternative to traditional vehicles such as stocks or commodities.
eToro is unique in that it is a pioneer in the field of social trading, this is allowing users to follow and copy the trades of more experienced and proven investors. The crypto sphere is affected by what happens on social media, Facebook, Reddit and Twitter feeds can be highly influential to an altcoin’s price and potential. The experience of other traders is invaluable in navigating this embryonic and rapidly changing market and eToro facilitates the sharing of that experience.
Additionally the newly released CopyFunds, is a means for users to invest in balanced portfolios created by the firm’s investment committee. Other features of the platform include instant trade execution which avoids delays and price fluctuations. Unlike other crypto exchanges there are unlimited daily withdrawal amounts on eToro, giving you complete control of your funds as and when you need them.
The company has a proven track record with over ten years offering online security brokerage services, forex trading, commodities, indices, CFD stocks, and now cryptocurrency.