Cryptocurrency

eToro Cryptocurrency Review – Is It Worth It?

Finding a reputable cryptocurrency trading platform is easier said than done. Smart investors will only put money into an account if the company is reputable. Good news is that eToro has been in business since 2007, and now allows US members to open an account. The mobile app for cryptocurrency trading is also pretty impressive.


Who Are They?

eToro is a modern digital solution reducing dependence on legacy financial institutions and making trading easier than ever before. With millions of users across more than 140 countries,eToro offers a stable and trusted platform to make modern investments accessible, in addition to an engaging and collaborative trading community.

eToro is unique in its offering of “copytrading” a revolutionary service that allows small investors to follow and copy the moves of long term, strategic professional traders. There are no guarantees in trading, and all users should research the coin they are interested in before purchasing but this allows you to see what experienced traders are doing in order to help you learn to consistently grow your account.

Opening a new account is easy and requires a short identity verification process similar to that of any online broker. Accounts can be easily funded through the linking of a bank account.Within the app it is easy to begin making purchases, the web platform offers osm charting and analysis functions–though the copy trading service is likely to be the most beneficial to new investors.


Coins Available for Trading

eToro currently offers 15 cryptocurrencies to traders. Obviously everyone is familiar with Bitcoin,the pioneer of the Blockchain movement, but there are a host of other coins with unique structures that can provide diversification to traders and offer potential for future growth on their unique platforms. eToro currently offers the largest and most stable coins in the market including Bitcoin, Ethereum, Ethereum Classic, Dash, XRP, Litecoin (LTC), BitcoinCash (BCH),Stellar Lumens (XLM), NEO, EOS, Cardano(ADA), IOTA, TRON, ZCash and Tezos. Different coins offer different services to users, and unique opportunities to interested traders. To learn more about each coin offered by eToro  you can visit here. For short overviews of each coin’s unique proposition that offer a great introduction to a growing world of Cryptocurrency. These coins are some of the most well-known and feature strong potential for growth without the danger that many smaller coins present when they first appear on the market.




Benefits To Using Them

No other broker currently offers a service similar to eToro’s unique copy trading ability. This coupled with eToro’s transparency about fees create a compelling case for new users to begin investing and trading via eToro. The crypto market is evolving fast, and for individual traders the amount of time needed to stay up to date on research and news can make trading feel impossible. Copy trading gives these investors the ability to follow along with experienced and successful traders and emulate their moves while staying up to date with eToro’s offering of real-time relevant and easy to read market data. eToro is more than just an investing platform, it offers a space to engage and connect, letting traders share knowledge and help a new sphere of digital society grow. The future of blockchain is one of limitless potential, and eToro provides a focused and authentic community and trading hub for a new generation of technology and financial investors. Why jump into crypto trading blindly when you can watch and mimic the moves of successful investors generating outsize annual returns beating traditional benchmarks such as S&P index funds. You are able to view traders yearly return, a breakdown of what currencies they are in, as well as an eToro generated risk score to help give investors insight into their strategy. Whether playing a long term buy and hold, or looking for aggressive growth via tightly managed movements, eToro gives users unique and valuable insight not available anywhere else.


Fee’s For Using Them

eToro has a very straightforward approach to fees and promises the user to never charge them hidden fees. Fees vary according to the coin traded, but with no spreads above 5% traders can be sure they are getting a fair deal. Bitcoins spread is currently listed at 0.75% providing a very reasonable option for the long term investor. To see a full overview of fees by coin visithttps://www.etoro.com/en-us/trading/market-hours-fees/​. Converting between cryptocurrencies-incurs a minimal transaction fee of 0.1%. Some currencies such as XLM and XRP maintain minimum wallet balances in order to be listed as an address on the blockchain, but these are low limits and are not fees charged by eToro but similar to a minimum balance in a checking account. This information is available at the above link or on the respective web properties of the listed coins. These fees are all calculated into your purchase/sale price, with eToro what you see is what you get–no back-end fees coming in weeks later like with other brokers


Final Thoughts

For the interested trader, eToro provides a safe and stable investment platform with access to abroad range of cryptocurrencies. They have a straightforward overview of their fees and can help service a global user base. Whether trading with USD or foreign currency, they make conversions and exchanges into cryptocurrency a breeze. Whether you are looking for a cryptocurrency broker or a new trading strategy, eToro’s reliable platform and unique copy trading options provide valuable modern tools to any investor’s strategy. You can get started by clicking here.



 

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