How To Trade Crypto On eToro?
It is important to understand that when you are using eToro you are not buying actual cryptocurrencies. Unlike the more common type of digital currency exchanges, CFD providers let you set up a contract between yourself and the brokerage. This contract means that if the cost of the currency goes up and any profit that comes from that will go to the brokerage. You don’t actually buy any currency yourself, so there is no risk of losing money if the currency crashes completely.
What is even more remarkable is that over the course of the more than a decade of the platform’s life, eToro has gained more than seven million registered users. All these users are eager to test their luck in the crypto market. For many, eToro can serve as an alternative for crypto exchanges. We believe that the more conservative technique of buying cryptos for more famous platforms provides an excellent opportunity to learn and gain experience in trading on digital assets.
If you’re a cryptocurrency trader, then this article provides a step-by-step guide for using eToro.com. Visit the site and click “Open an Account” to have a look at their offerings. The first step is to warm up the platform by copying the trades of others – which is called “social trading.” In other words, copy other traders on eToro, who have been verified as having real experience and results that can be trusted. You can then become a fully-fledged, independent trader that goes it alone
The fees are incredibly low and for this reason, it’s become a great way to get started in trading cryptocurrencies. You have to be open-minded when it comes to cryptocurrencies and particularly with eToro, there’s a high chance you’ll find yourself questioning some of their practices. But keep your mind open and be aware of the risks involved with trading on any platform
The first and foremost thing to know about Crypto trading on eToro is that it is very different from traditional stock and Forex trading. The reason for this is that the financial markets are not bound by time and place, i.e., you can trade stocks, commodities, Forex currencies, etc. On the other hand, you need to be at your computer, mobile phone or tablet to trade cryptocurrencies on etoro review.
A recent study found that the majority of active crypto traders are using eToro to execute their trades. Out of the active crypto traders surveyed, 70% of them reported having an account on eToro. This is a huge number and shows just how much interest there is in the platform. The report also found that a large number of active crypto traders were joining eToro because it offered them a way to trade cryptocurrencies with a regulated company.
eToro, the global investment network which has pioneered the social trading revolution, is launching a one-of-a-kind Crypto Trading toolbox for traders to use alongside its suite of cutting edge trading and investing instruments. The new Crypto Trading Toolbox will enable traders to execute advanced technical analysis techniques for spotting trends, charting patterns and executing advanced crypto trading strategies. eToro’s Crypto Trading Toolbox will also include an ICO list, to help investors identify the most promising blockchain projects