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, XRP by Ripple Lab, Dash, Ethereum Classic, Bitcoin and Ethereum.
Cryptocurrencies can fluctuate widely in prices and are therefore not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Your capital is at risk.
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 UK diversifies his portfolio with cryptocurrencies.
3 – eToro vs the Alternatives
eToro also offers a number of advantages in comparison to alternative platforms for trading cryptocurrencies. Specifically, eToro provides:
- Instant execution of trades, eliminating the delay of other platforms and allowing users to lock in a price
- Unlimited daily withdrawal amounts, giving you complete control of your funds
- eToro has a proven track record that you can trust and offers a secured account so you can trade with confidence
Cryptocurrencies can fluctuate widely in prices and are therefore not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Your capital is at risk.
This is a sponsored post.