3 Reasons to Trade Cryptocurrencies on eToro

in cryptocurrency •  7 years ago 

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.

This article was first posted on www.Etoro.com/blog , a Premium Trading Partner.

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Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://www.etoro.com/blog/markets/25072017/3-reasons-to-trade-cryptocurrencies-on-etoro/

Ive been on Etoro for years!

I originally joined to buy my first stocks before I got involved with the Crypto world.

After I learned about bitcoin in 2012, I was pumped up to see it on Etoro not later after :)

Now they are adding new cryptocurrencies quite frequently within the last year which is great!

It was much more profitable before they removed the option to increase the leverage on your trade, more risky ofcourse... but much more profitable!

I still like using it for trading, but having the "physical" crypto is more my focus.

Is it yours?

Definitely a Great app for making money off the Crypto market wherever you have a internet connection and a smart phone!

#etoro

Definitely a fan of the CopyTrading Features on eToro. I think this might lead to crypto being a more suitable investment option for more people