Although cryptocurrency is hot right now, many don’t know how they can trade it.
It can be difficult to find the right brokerage to trade cryptocurrency. You can lose your money when trading crypto.
eToro, a relatively new trading platform, specializes in copy trading and social trading with cryptocurrency versions.
It allows you to trade high-risk cryptocurrency in an organized and simple-to-understand way.
Checkout here for completely eToro review 2021.
eToro offers a range of investment products, including stocks, fiat currencies and commodities, exchange-traded fund funds, and 15 cryptocurrencies. Some can be traded via CFDs, while others are actual assets.
They were the first to offer social trading. They were the first to adopt this trend. Today, many competitors offer similar options. eToro is still the leader in this area. Social trading is a mix of social media and a chat room where people can connect. You can follow other traders and see what instruments they trade and their performance. Two new products were introduced by them in this area: CopyTrader (tm) and copyPortfolios_(tm).
Their reputation for being a reliable and trustworthy broker has earned them a good reputation among both novice and experienced day traders.
eToro raised $100 Million in private equity from China Minsheng Financial, Korea Investment Partner and other investors.
They launched a crypto trading platform called eToroX in 2019. It was regulated by Gibraltar Financial Services Commission ( Gibraltar FSC) as a Money Service Business and registered with FinCEN.
Spread is the difference between the price of crypto and the price you pay to buy it. The spread varies depending on the coin and may fluctuate depending on market conditions. Instead of paying the spread when you sell and buy, eToro will only charge you once for each asset you own, when you purchase.
Who is eToro Best for?
eToro has unique features that allow investors to learn from and interact with other investors. Talk with other users, read their comments about investment strategies and copy trade with them. These comments should not be viewed as recommendations. You should also be aware of the potential risks associated with following other users’ investment strategies.
eToro’s virtual portfolio makes it a great choice for beginners looking to get some experience in crypto markets. Although $100,000 may seem like a lot to invest, having fake money on your portfolio can help you to see the volatility in the crypto market. This feature is also available if you don’t have access to real trading on eToro.