History
eToro has operated since 2007, enabling customers to trade almost anything in a unified platform. Since it is viewed as a social investment network, it conjoins a contemporary trading system with the aptitude of interacting with other users. CEO Yoni Assia’s aim with the platform is to disrupt the outmoded banking system and help promote a modern digital financial age. If you are an investor in cryptocurrencies, there are probably a few ideas to be met in this respect. eToro permits the trading of a selection of cryptocurrencies. The company has undergone various cycles, of which the most recent one being the initiation of eToroX, which is a fully regulated cryptocurrency exchange.
What is eToro?
eToro is an online global trading platform for cryptocurrencies, commodities, currencies, stocks, and indexes. It presently has over seven million users all over the world. eToro is a revolutionary trading company that emphasizes cryptocurrency. It offers users with a user-friendly trading platform where they can invest in cryptocurrencies as well as a wallet for sending and trading funds (but not receiving them). The company is exceptional at permitting individuals to invest easily in Bitcoin and various other leading cryptocurrencies via different payment methods. With this in mind, eToro is recommended for speculators since you can’t access assets but can only trade them for fiat currencies. Have a look at this review to view their thoughts on this exchange.
Payment Methods And Currencies
Supported cryptocurrencies in eToro are performed as a form of CFD, meaning you can only speculate on the price (you are not getting to own the actual coins). Here is the full list:
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- Ripple (XRP)
- Bitcoin cash (BCH)
- Ethereum classic (ETC)
- Dash (DASH)
- Stellar (XLM)
- Cardano (ADA)
- IOTA (MIOTA)
- EOS (EOS)
- Zcash (ZEC)
- NEO (NEO)
- Binance coin (BNB)
Deposit Methods
eToro offers a selection of options for depositing money to the platform, including:
- Wire transfer
- PayPal
- Credit/debit card
- Neteller
- Webmoney
- Giropay
- China Union Pay
- Yandex
- Local online banking
The minimum initial deposit is $200. Whichever currency you are depositing, it will be automatically converted to USD since eToro accounts are denominated in United States dollars.
Fees
As a result of the comprehensive amount of trading choices on eToro, the fee structure can vary from one asset to the next. Viewing the cryptocurrency trade fees directly will be quite the shock for serious investors. Bitcoin comes at a hefty 0.75% fee when exiting a position. This fee is higher than most exchanges. Other altcoins presently trade at a 2% - 4% fee which is quite extravagant. You can look at the full list of prices on the website. Also, bear in mind that you’ll be charged a withdrawal fee when you cash out. You are only permitted to cash out fiat money out of the exchange, and you will be billed $25 for every withdrawal. Another disadvantage is the eToro charges users with an inactivity fee if they have not logged into their account for twelve months.
Supported Countries
Etoro supports numerous Countries. For the full list, you can visit their website.
