3 Reasons to Trade Cryptocurrencies on eToro

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Trade Cryptocurrencies

Do you want to invest in digital currencies? Have you heard about eToro?

eToro is a social trading and Investing company that allows its users to watch the financial trading activity of other users, copy them, and to make their own trades. It is the first global market place for people to trade currencies, commodities, indices and CFD stocks online in a simple, transparent and more enjoyable way. Recently it has announced expansion offering more services to its users.

2017 proved to be the year of cryptocurrencies, with many reaching unprecedented popularity and smashing record after record. The domain that used to be ruled by Bitcoin alone has all of a sudden brought forth new names such as Ethereum, Litecoin, Dash and many others. Since there are over 850 cryptocurrencies available, choosing which ones to trade, and where to do so, could be a bit overwhelming. Moreover, the process of buying and selling cryptocurrencies could be daunting, and many traders could get discouraged before making their first trade.

Luckily, here at eToro, we have some great options for trading cryptocurrencies, all the while making sure our clients have a safe, regulated platform to trade on. As opposed to some cryptocurrency exchanges, signing up for eToro is simple, and trading can be achieved with just a few mouse clicks or taps on your smart device’s screen. Here are three reasons eToro is a great option for cryptocurrency traders:

1 – Cryptocurrency CopyFunds

Last year, we introduced an innovative product called CopyFunds, which bundles together various traders, or assets following a predetermined strategy, into a single tradable asset. Each CopyFund is composed by the eToro Investment Committee and is rebalanced periodically. Here are two options for cryptocurrency-based CopyFunds:

  • Crypto-currency: This CopyFund gives traders combined exposure to Bitcoin and Ethereum. This fund has generated profits of more than 125% in its first three months, including an impressive 66% increase during May of 2017’s cryptocurrency bull run.
  • Crypto CopyFund: Recently launched on eToro, this CopyFund is composed of a balanced cryptocurrency portfolio, including Litecoin, Ripple, Dash, Ethereum Classic, Bitcoin and Ethereum.

2 – Social Trading: Copy a Popular Investor

One of eToro’s most popular features is CopyTrading, which enables almost any client to copy other traders or be copied by them. Successful traders who show consistent returns while maintaining a low-risk score can become Popular Investors, and get rewarded for sharing their wisdom. If you want exposure to the cryptocurrency market with less of a “hands on” approach, consider taking a look at one of these Popular Investors:

  • @JayNemesis: Jay is perhaps the most popular cryptocurrency trader on eToro, amassing thousands of copiers in the short time since the cryptocurrency craze began.
  • @AlexPlesk: This Popular Investor uses cryptocurrencies as part of a well-balanced stock-based portfolio.
  • @Wesl3y: While focusing mainly on stocks, Wes, from the U.K., diversifies his portfolio with cryptocurrencies.

3 – Advantages over Traditional Exchanges

  • Entry barriers: Cryptocurrency exchanges usually demand a rigorous verification process and require the installation of additional software alongside an understanding of blockchain technology. eToro’s process is comparatively simpler, enabling you to sign up and start trading quickly on a single platform.
  • Regulated platform: The cryptocurrency market is very new, and its legal status is still being debated in many countries. As such, it puts traders in danger of being scammed. The eToro platform adheres to the strictest of regulations, so you know you can trade with confidence.
  • Quick and intuitive trading: Since eToro deals with CFDs, you don’t need to buy the underlying asset. Therefore, transactions can be completed within seconds, and you can trade cryptocurrencies 24/7 even on weekends and holidays.

All trading involves risk. Only risk capital you are prepared to lose. This post is not investment advice. Past performance is not an indicator of future results.

via Cryptocoinsnews


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