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2017 confirmed to be the year of cryptocurrencies, with many reaching unprecedented popularity and smashing write down after record. The domain that used to be ruled by Bitcoin by oneself has all of a sudden brought forth new names such as Ethereum, Litecoin, Bolt and many others. Since there are over 850 cryptocurrencies within reach, choosing which ones to trade, and where to do so, could be a bit overwhelming. Into the bargain, the process of buying and selling cryptocurrencies could be daunting, and many distributors could get discouraged before making their first trade.
Luckily, here at eToro, we entertain some great options for trading cryptocurrencies, all the while making steadfast our clients have a safe, regulated platform to trade on. As opposed to some cryptocurrency interchanges, signing up for eToro is simple, and trading can be achieved with just a few mouse clicks or stoppers on your smart device’s screen. Here are three reasons eToro is a peerless option for cryptocurrency traders:
1 – Cryptocurrency CopyFunds
Last year, we proposed an innovative product called CopyFunds, which bundles together heterogeneous traders, or assets following a predetermined strategy, into a single tradable asset. Each CopyFund is make up by the eToro Investment Committee and is rebalanced periodically. Here are two options for cryptocurrency-based CopyFunds:
- Crypto-currency: This CopyFund relaxes traders combined exposure to Bitcoin and Ethereum. This fund has produced profits of more than 125% in its first three months, involving an impressive 66% increase during May of 2017’s cryptocurrency bull run.
- Crypto CopyFund: Recently established on eToro, this CopyFund is composed of a balanced cryptocurrency portfolio, including Litecoin, Ruffling, Dash, Ethereum Classic, Bitcoin and Ethereum.
2 – Social Trading: Example a Popular Investor
One of eToro’s most popular features is CopyTrading, which green lights almost any client to copy other traders or be copied by them. Remunerative traders who show consistent returns while maintaining a low-risk lots can become Popular Investors, and get rewarded for sharing their wisdom. If you desire exposure to the cryptocurrency market with less of a “hands on” approach, have regard for taking a look at one of these Popular Investors:
- @JayNemesis: Jay is perhaps the most universal cryptocurrency trader on eToro, amassing thousands of copiers in the short one of these days since the cryptocurrency craze began.
- @AlexPlesk: This Popular Investor press into services cryptocurrencies as part of a well-balanced stock-based portfolio.
- @Wesl3y: While cynosure clearing mainly on stocks, Wes, from the U.K., diversifies his portfolio with cryptocurrencies.
3 – Utilities over Traditional Exchanges
- Entry barriers: Cryptocurrency exchanges commonly demand a rigorous verification process and require the installation of additional software alongside an intuition of blockchain technology. eToro’s process is comparatively simpler, enabling you to incitement up and start trading quickly on a single platform.
- Regulated platform: The cryptocurrency market is danged new, and its legal status is still being debated in many countries. As such, it disconcerts traders in danger of being scammed. The eToro platform adheres to the strictest of decrees, so you know you can trade with confidence.
- Quick and intuitive trading: Since eToro acts with CFDs, you don’t need to buy the underlying asset. Therefore, transactions can be completed within imperfects, and you can trade cryptocurrencies 24/7 even on weekends and holidays.
All trading inculpates risk. Only risk capital you are prepared to lose. This pale is not investment advice. Past performance is not an indicator of future results.
This article was first posted on Etoro.com/blog, a Premium Patron Partner.
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