If you are looking for a trading platform that ensures results eToro is the leading platform presently. It is a social trading platform that provides you the opportunity to trade in current stocks, commodities, cryptocurrencies, indexes and many more. All you need is this single mobile platform.
The initial concept of eToro
In the form of an App, it was initially created to enable forex market trading online in 2008. However, in 2009, the company began its trading platform that is intuitive through WebTrader. The main reason was to cater to both experts in trading as well as beginners. This new concept was to provide the tools required to make trading possible for both.
Movement to cryptocurrencies
In 2017, the eToro social platform managed to expand its trading to cryptocurrencies which were relatively new to the forex market then.
The advantage
It is true that the cryptocurrency market is complicated for beginners. As such, eToro made it possible to provide leverage to crypto assets traded. As a cryptocurrency trader, when you buy crypto assets, you do not have to lose your underlying asset in case of a drop in the traded asset.
The underlying asset is held in offline storage by the eToro Platform on your behalf.
However, you can use these offline store crypto assets for speculative purposes in the market and in case of a rise or fall in price; you can withdraw your crypto assets.
Social trading advantage
This social online platform provides beginners with a social trading offer. This way, if you do not know much about trading, you can gain insight into where forex trading gurus are investing their crypto assets. By so doing, you can copy their trades automatically and in real time. This ensures you are never at a loss when trading as a beginner.
Related: eToro Crypto CopyFund – The Easiest Way to invest in Bitcoin
Advantages of using eToro
Before you sign up to this online trading app, here are some advantages to consider.
Pros
- It is a social trading arena and you can get and share trading information
- It is an easy to use trading platform
- The registration process is quick and seamless
- The fee structure is transparent
- The company has a good reputation and is reliable
Cons
As always there are a few cons; however, in the case of eToro online trading platform, consider these to be a precaution on how to use the app to your advantage. They are listed below.
- The trading fee is high but the returns are guaranteed with eToro
- If you are inactive after 12 months, there is a $5 fee. But when trading with eToro, you will never want to be inactive or out of the loop
- Your crypto private keys are owned by eToro. However, this shows that they are secure
- You have limited cryptocurrency trading amount
How to join eToro
To begin this magical journey with eToro, all you need to do is sign up eToro for a new account. This is possible for anyone with online access and is completely free once you visit the eToro website.
The signup form is available on the website homepage and is simple to fill.
Once filled with your details, you get an email confirming your signup and verify your account. Once this is done, you can begin with your journey to forex trading using all the tools you need.
The eToro dashboard is particularly comprehensive and user-friendly. There is your profile menu on the left that will assist in navigation through the platform.
To begin trading, all you need to do is click on the “Deposit Funds” tab and select your desired payment method. These include PayPal, Debit Card, Skrill, Wire transfer, UnionPay, and NETELLER
You can begin trading once your deposit s confirmed.
Conclusion
With the option of Trading cryptocurrency pairs and a vast array of supported cryptocurrencies, the trading world is yours when you have your eToro App. You have a team of trading professionals, credibility, and reliability. This is what makes it among the best cryptocurrency trading platforms. You have a user-friendly social trading experience that will prevent the risk of making losses as you trade your crypto assets.
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