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If you’re interested about investing in digital coins via this broker’s platform and other crypto-related services then continue reading this article to know more.
So, how do you trade crypto currencies with eToro? There are currently 2 ways to do it:
By buying and selling the cryptocurrency
When you’re actually buying crypto, you are basically paying fiat currencies like US dollars or euros to purchase the tokens.
Via this method, eToro will buy these tokens for you and will place them in a separate account that still belongs to you. If its value goes up, you make a profit. If the value goes down, you will incur a loss.
At this point, you own this cryptocurrency and you can do the following:
Via contracts for difference (CFDs)
With CFD, you are trading on cryptocurrency’s future price movements without the need to own the crypto asset.
Using this form of derivative, you can make profits from both upward and downward price movements and this can be the result:
With CFDs, you are not actually owning the cryptocurrencies you are trading so there are no tokens that can be transferred to a wallet.
Currently, there are over 20 tradable crypto assets available on the online platform and most of these are the most popular ones or those that have the largest market capitalizations (or market cap).
Note: New cryptos maybe added and some existing products could be removed from the list depending on the market conditions.
Yes. As an eToro client, you will be able to buy cryptocurrency via their trading platform. Take note that clients from some countries are not allowed to buy cryptocurrencies outright due to regulation.
For eToro clients who are under the jurisdiction of the Australian Securities and Investments Commission or ASIC, all cryptocurrency trades are limited to CFDs.
This is due to their compliance with ASIC regulatory requirements which prohibits ownership of these digital tokens.
eToro only charges via spreads. There are no feeds for trading cryptocurrencies or even when you’re going to make a deposit on your account in US dollar.
The table below lists eToro’s spreads for buying crypto assets:
|Bitcoin Cash (BCH)||1.90%|
|Ethereum Classic (ETC)||1.90%|
|Stellar Lumens (XLM)||2.45%|
|Binance Coin (BNB)||2.45%|
A Stop Loss can be used to add protection when trading crypto assets with eToro so you can lessen the losses in case the value of the coin goes against you.
How does it work?
With this risk management tool, it triggers the platform to automatically close a trade when the instrument’s value has met the specific price that was set.
By default, no stop losses are applied on cryptocurrency trades but you can set it based on a particular value or based on the cryptoasset’s price once the position has been opened.
For profiting crypto trades, the minimum amount that can be set on the Stop Loss is the current trade’s price minus 25% of the initial investment’s price.
Minimum Stop Loss = Profit - (Initial Investment X 0.25)
On the other hand, for losing trades, the minimum allowed amount for the Stop Loss is 25% of the initial investment’s price.
Minimum Stop Loss = Initial Investment X 0.25
For losing crypto trades that have incurred a loss higher than 25% of the initial investment’s price, the lowest amount that can be set for the Stop Loss is the crypto’s current market value +1 pip.
Successful and well-seasoned crypto traders can be found on eToro’s social investment network.
Via the CopyTrader feature, you will be able to see their activities in real time and have the option to automatically copy their trading strategies so when they are trading crypto, you will be trading the same asset as well.
Their profiles can be viewed by opening the platform, clicking on “Copy People” and setting the following filters:
This will give you a table of profiles of the top performing traders based on a specific period which you can set to last month, current quarter, last 3 months, last 6 months, last 12 months or last 2 years. You can also further set the filter to show you a custom list of the best cryptocurrency traders based a specific country.
Past performance is not an indication of future results.
You may click here to see the current list of the top crypto traders for the past 1 year who have a return score of 90% or higher.
For the cryptoasset class, traders will be able to invest not just on crypto coins but also on cross instruments that are related to cryptoassets.
|Crypto Crosses||BCHLTC, BTCEOS, BTCXLM, EOSXLM, ETHBTC, ETHEOS, ETHXLM, XRPDASH, ZECBCH, ZECDASH, ZECETH, ZECLTC, ZECXLM, ZECXRP|
|Currency Crosses||BCHAUD, BCHCAD, BCHCHF, BCHEUR, BCHGBP, BCHJPY, BCHNZD, BTCAUD, BTCCAD, BTCCHF, BTCEUR, BTCGBP, BTCJPY, BTCNZD, DASHAUD, DASHCHF, DASHEUR, DASHGBP, DASHJPY, DASHNZD, EOSGBP, EOSJPY, ETCAUD, ETCCAD, ETCCHF, ETCEUR, ETCGBP, ETCJPY, ETCNZD, ETHAUD, ETHCAD, ETHCHF, ETHCNH, ETHEUR, ETHGBP, ETHJPY, ETHNZD, LTCAUD, LTCCAD, LTCCHF, LTCEUR, LTCGBP, LTCJPY, LTCNZD, XLMAUD, XLMCHF, XLMEUR, XLMGBP, XLMJPY, XLMNZD|
Due to regulatory constraints, these particular crosses might not available for trading. If your account is restricted from investing on the cryptoasset, the buy and sell buttons are disabled. That means you are only limited to view them, monitor their price movements and interact with other users via its feeds.
Clicking on the buy/sell buttons of any of these assets will automatically trigger this pop-up notice:
This is a digital safe for storing a cryptocurrency such as Bitcoin, Bitcoin Cash, Ethereum, XRP, Litecoin, and XLM. This can be used for sending and receiving digital currencies.
The secured wallet supports more than 120 cryptocurrencies and can change over 500 crypto pairs.
If you want to transfer the cryptocurrency that you invested on from your eToro portfolio to eToro’s wallet, follow these steps:
eToroX is the cryptocurrency exchange arm of eToro. It features a diversity of tokenized digital assets that can be traded on the blockchain.
This exchange was created for digital asset trading on an enterprise or corporate level. It is used mainly by seasoned crypto investors and institutional-grade traders.
Interested to trade cryptocurrencies with eToro? If you want open an eToro account right now, you can click here and you'll be directed to their crypto trading page.
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results.
Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.