Do you turn to Twitter, Facebook, or YouTube before making your investment decisions? It turns out you’re not alone. In fact, 4 out of 5 investors get their investment advice on the best penny stock or the next 100x cryptocurrency from social media, a new report has found.

The research was conducted by Appinio and was commissioned by eToro, the social investing platform that supports cryptos alongside stocks and commodities.

It found that 80 percent of investors depend primarily on social media for investment advice. YouTube is the most popular avenue with 63 percent of the respondents, while Facebook and Twitter come in second and third with 44 and 34 percent respectively.

The findings of the survey are not a surprise. With the highest percentage of the global population being below 30 years of age, social media has become extremely influential, even beyond investment decisions. Political elections are nowadays won or lost online, with Donald Trump proving just how powerful a platform like Twitter can be.

Related: Donald Trump’s social media app Truth Social is beating Elon Musk’s Twitter as Trump rules out return to Twitter

Crypto investors are no strangers to social media, with Twitter being ground zero for most crypto developments. Discord and Telegram also cater to more specific groups and discussion topics. A crypto project can shoot up or dip massively depending on the hype it generates on social media, with Dogecoin shooting up to be bigger than Japan’s largest bank almost purely from its online popularity.

The report further found that investing has evolved to become a social venture. 60 percent of the respondents said they feel more creative when in a group setting while half felt they learn better when they are being assisted by other people.

Yoni Assia, the eToro founder commented:

We are witnessing tectonic shifts in asset ownership and a convergence of finance and culture driven by the twin forces of technology and community. Millennials and Gen Z are on the threshold of becoming the new investor class.

Lule Demmissie, the CEO of eToro US echoed the founder’s words, adding that the results confirmed what the firm already knew to be true, “that the next generation of retail investors demands an experience rooted in community, with universal access to educational tools and expert analysis.”

Der Beitrag 80% of investors have turned to social media for advice: Report erschien zuerst auf Crypto News Flash.

eToro, a stock trading platform-cum-cryptocurrency exchange has delisted Cardano’s ADA and TRON’s TRX cryptocurrencies. In its announcement, the exchange revealed that U.S users will no longer be able to open new positions or stake the two tokens starting in a month’s time. This comes at the same time that Bitstamp, a much bigger exchange, listed ADA. And as expected, Charles Hoskinson had quite a bit to say about the ban, which he claims blindsided him.

“Users will not be able to open new ADA or TRX positions starting on December 26, 2021. Additionally, staking for those assets will end on December 31, 2021,” eToro stated in its announcement. The move is due to business-related considerations in an evolving regulatory environment, the exchange said.

U.S users will be able to hold their existing TRX and ADA positions and can close positions at any time and receive USD. Staking rewards will end as well, with the last rewards being paid on January 15 next year.

The exchange is also working on its eToro Money cryptocurrency wallet that’s compatible with these two tokens and it should launch in early 2022. This wallet will allow users to hold their ADA and TRX even when they can no longer sell them for USD.

eToro refrained from disclosing the specific regulatory concerns that forced it to drop support of the two tokens. There has been no regulatory action towards either Cardano or TRON in the U.S, making the move all the more mysterious.

Hoskinson: eToro blindsided us, but liquidity is still very high

Charles Hoskinson, the founder of Cardano and the leader of Input Output Global (IOG), was quick to respond to the latest move. About 20 minutes after eToro made the announcement, he made a video from his home in Colorado, addressing the drop by eToro and why it was insignificant in the bigger picture.

And we didn't even get delisted. Ada is still on etoro and non-US customers can freely trade https://t.co/FAcUgv9ERj

— Charles Hoskinson (@IOHK_Charles) November 23, 2021

Hoskinson first sought to make it clear that IOG doesn’t handle listing and liquidity for ADA. This is the responsibility of the Cardano Foundation, which is an independent entity.

To him, the eToro move is just a manifestation of a much bigger problem – the systemic lack of regulatory clarity for crypto. In the U.S, which is supposed to be a world leader, this lack of clarity is adversely affecting cryptocurrency projects and businesses.

However, despite the drop, ADA is doing just fine, Hoskinson assured the community. He noted that Bitstamp, a European cryptocurrency exchange that’s among the oldest in the world, just picked up ADA.

Everything’s fine. Cardano is fine. Liquidity is improving – don’t allow people to spread fear, uncertainty, and disinformation. It’s just an example of thousands of independent businesses making decisions for their businesses, and some of those decisions are great for Cardano and some of those decisions aren’t.

While he respects eToro’s right to make business decisions as it deems fit, he felt that he had been blindsided by the company. He revealed that most exchanges are in constant communication with IOG and the Foundation and usually notify them of any changes or issues. IOG even gives some exchanges access to internal Slack so that they can interact with developers and get issues solved quickly.

Also Read: Cardano’s Charles Hoskinson excited about the 2022 roadmap for Cardano’s ‘living, growing ecosystem’

Der Beitrag eToro delists Cardano and TRON for U.S users, Hoskinson says he was blindsided erschien zuerst auf Crypto News Flash.

Multi-asset investment platform eToro is doubling down on its commitment to universal basic income and using cryptocurrencies to impact the lives of the less fortunate. eToro has announced today that it has committed $1 million to the GoodDollar project. The firm had previously invested $58,000 to the project, funds which it believes have been very well spent.

The GoodDollar project was launched in September last year as a collaboration between eToro and software firm ASSIA. It, however, functions as an independent entity. It delivers an entryway into the lucrative world of DeFi and allows its users to claim basic income via ita native token, the G$ coin.

In its press release, eToro revealed that the additional capital will be used to expand GoodDollar, allowing it to continue in its mission to offer financial literacy as well as bridge the ever-growing global wealth gap.

GoodDollar stakes the funding it receives in DeFi protocols such as Aave and Compound. It then distributes the interest it gets to a global community of members in the form of G$ tokens. In so doing, the project flips the traditional donation-driven philanthropy model on its head.

The project’s power lies in its decentralization and use of DeFi. This allows it to be free from any geographical or regulatory restrictions. Anyone with a mobile phone can access the platform, either to benefit from the proceeds or to stake and help the project achieve its goals.

eToro describes GoodDollar as “the world’s most universal UBI program to date, with more than 225,000 users in virtually every country on the planet.”

Read More: eToro expands GoodDollar initiative to 1 million basic income recipients

The GoodDollar one-year success

The project has proven that it’s putting the funding it raises to good use. It published the results of its Proof-of-Concept in July this year, indicating that it had distributed $16,000 worth of G$ tokens to over 220,000 people across the globe. The returns were based on an initial stake of $58,000.

“This success spurred eToro into making a deeper commitment to the project, by raising its stake more than 17-fold,” the platform, which offers trading in cryptocurrencies alongside stocks, stated.

Yoni Assia, the CEO of eToro, commented:

Too many people are locked out of opportunities that could take them out of poverty, including access to capital markets and digital work opportunities. The GoodDollar project aims to alleviate that by fostering financial inclusion and empowerment around the world. Our hope is for other innovation leaders, who recognize the potential of crypto, to join us and help use the burgeoning power of DeFi responsibly.

Der Beitrag eToro commits $1M to the GoodDollar project to promote universal basic income via crypto erschien zuerst auf Crypto News Flash.

Top social trading platform eToro has named Cardano (ADA) as the most popular crypto assets on its multi-asset platform. Cardano maintained its first position as one the most popular crypto on eToro in both the first and second quarters in 2021. This shows that eToro users held Cardano over the two top cryptocurrencies by market cap- Bitcoin and Ethereum.

Cardano (ADA) became the most held crypto asset by eToro users

In a tweet, eToro highlighted the top ten crypto assets in Q2, with ADA in the first position. Notably, ADA’s leading position is a promotion from being ranked second in the previous quarter. Also, ADA overtook Bitcoin, which was formerly the most held crypto asset on eToro. BTC became the second most-held crypto by eToro users in the second quarter. 

Which cryptoassets are eToro users investing in?⁠ ?

Let us break it down ?

— eToro (@eToro) July 9, 2021

In addition, Ethereum advanced to the third position, from its 4th spot in Q1. XRP turned out to be the 4th most held crypto asset on the trading platform, down from being ranked 3rd in the previous quarter.

On the other hand, Dogecoin, which did not make it on the list in the first quarter, took a great leap and made it to the fifth position in 2021 Q2. In 2021, Dogecoin recorded increased adoption and recognition among members of the crypto community. Dogecoin started as a joke in 2013, but prominent names like Elon Musk and Mark Cuban have shown their support for the meme-coin, leading to its upsurge over the past months. 

In addition to Dogecoin’s gain in 2021, several crypto exchanges, including eToro, listed the cryptocurrency, which increased its popularity. Some of the other exchanges that listed Dogecoin this year are Coinbase and Gemini. Also, the founder of FTX crypto exchange, Sam Bankman-Fried, named DOGE “asset of the year.”

Dogecoin continues to make waves among other cryptocurrencies. American financial services company Robinhood revealed in a filing for its upcoming IPO that it generated nearly $30 million in revenue from DOGE trading in 2021 Q1. At press time, Dogecoin is up 1.20 percent to $0.2161. 

Read More: Robinhood warns in IPO filing that revenues could be affected by DOGE popularity

eToro users adopt more altcoins

Other top 10 most held crypto assets on eToro in ascending order are TRX, XLM, MIOTA, LTC, and ETC. 

Unlike before, when crypto supporters valued only Bitcoin, the community’s attention has shifted as people are now exploring altcoins. As a result, Bitcoin’s share of the total crypto market value has dropped under 50 percent for the first time since 2019. At the time of writing, Bitcoin has a market cap of over $641 billion. BTC’s current market cap represents 43 percent of the total crypto market share. 

The CEO of fintech firm PolySign, Jack McDonald, commented:

People are looking at the broader altcoin universe compared to very crowded BTC trading. While there is a clear correlation between BTC and the rest of the market, altcoins are an opportunity for people to diversify their investments.

Dbilia.com founder Everett Kohl, believes the recent increase in altcoins adoption shows more investor’s trust in the crypto space. 

Der Beitrag eToro reveals top 10 most held crypto on its platform; Cardano beats BTC and ETH erschien zuerst auf Crypto News Flash.

eToro, a multi brokerage trading platform has finally announced the listing of a meme-based digital asset, Dogecoin after years of campaign by the Doge community. In the release, the platform cited strong investors’ demand as the main reason for the decision. 

Dogecoin has in the recent market boom moved significantly to win the trust of many investors, making it difficult for trading platforms to ignore it. This year alone, the asset has risen by over 6,500 percent. 

From now, the Dogecoin enthusiasts may have two options to buy the asset. They can either purchase the coin and directly trade them on the platform or they can buy derivatives and trade them based on the underlying price. 

eToro further announced that no hidden fee applies when trading DOGE. However, spreads are applied. The percentage is imposed when positions are opened for DOGE and are adjusted when the positions are closed. Though traders can withdraw Doge from their accounts after closing all their trading positions, it is currently impossible to transfer the asset from the eToro platform to the eToro money wallet. 

[Buy Dogecoin on eToro]

Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.

Dogecoin soars

This listing will expose the digital asset to about 20 million people on the eToro platform. Today, investors’ confidence is up, causing the price to set a new all-time high of $0.67 to break the previous $0.47 record. The market cap has hit a new high of $71 billion to drag the coin to the 4th largest crypto on the log ahead of XRP, Tether, and Cardano. 

Dogecoin is an old cryptocurrency that came about as a joke in 2013. In 2019, the OKEx exchange listed the asset and stated that there is a huge retail demand for it. Binance followed suit and listed the asset as well.

Huobi exchange claimed that they feel the passion of their blockchain and cryptocurrency users towards Dogecoin. Du Jun, the co-founder of Huobi said that the project behind DOGE has no technological breakthrough, and the top ten Dogecoin address has 41.35 percent of the entire circulating supply of the asset. This means Dogecoin trading is very risky as a small number of holders can influence the price. 

Der Beitrag eToro announces the listing of Dogecoin after rising investors’ demand erschien zuerst auf Crypto News Flash.

Sponsored by the world’s leading social investment network eToro, GoodDollar launched in September 2020 and provides its users with a free digital universal basic income (UBI) for people, delivered daily via blockchain. GoodDollar currently has over 220,000 members from over 181 countries claiming GoodDollar tokens, which they will now be able to convert for mobile minutes, via BitMinutes. GoodDollar’s innovative free digital currency distribution model transforms any investment mechanism into a social impact vehicle, and the project has been widely recognized in the industry as being a key contributor in speeding crypto mass adoption to those currently under-served by conventional financial services.  

“This is a terrific opportunity for BitMinutes to further our goals and objectives of leveraging our patent-pending technology to help those less fortunate,” said Tom Meredith, the CEO and Founder of BitMinutes. “In working with GoodDollar and its unique global basic income network, it’s easy to see why this partnership can have a positive impact on a global basis.”

The partnership, which calls for the companies to make it possible for GoodDollar members to exchange G$ tokens for BitMinutes mobile phone minutes, will focus on key markets throughout Latin America and the African continent for 4 billion consumers.

“Working with BitMinutes is a great opportunity to demonstrate the role GoodDollar plays in onboarding millions of new global consumers to the world of digital money and the greater digital economy,” said Yoni Assia, the Founder of GoodDollar. “We look forward to this partnership yielding concrete impact for hundreds of thousands of GoodDollar members around the globe.” 

About GoodDollar

GoodDollar is a non-profit initiative determined to create a sustainable and scalable framework to bring a digital universal basic income to the world through new digital asset technologies. Its goal is to improve financial education and empowerment through providing people with an easy-to-use, low-risk, and fun way to use digital money, among other market education activities. The project was founded by Yoni Assia, the Co-founder and CEO of eToro, the social investment platform with over 20 million registered users. eToro has financed the GoodDollar project as part of its corporate social responsibility initiatives.

About BitMinutes Inc., the Company

BitMinutes Inc. is a startup fintech company, founded in the U.S. BitMinutes tokens (BMTs) are exchangeable into universal prepaid airtime minutes.  Prepaid minutes are already traded informally as currency within country mobile networks, available to billions of mobile phone owners.

BitMinutes’ tokens also allow peer-to-peer value transfer to millions of bank and mobile accounts across 70 contracted countries and prepaid airtime top-ups to over 4 billion mobile accounts in over 120 countries. More importantly, BitMinutes plans to facilitate the expansion of micro-credit lending in communities where lending is rare and too expensive for most individual borrowers. BitMinutes’ ownership and transactional records will establish a new type of consumer credit score for emerging market consumers who currently struggle with limited access to capital and a lack of traditional banking services.  In addition, BitMinutes will create payment platforms in countries where it launches to facilitate mobile payments similar to the M-Pesa platform which has achieved success in Kenya, but which has not yet been widely adopted in other countries.

Der Beitrag BitMinutes Announces Partnership with GoodDollar, Embracing Opportunity for Social Good erschien zuerst auf Crypto News Flash.

Leading social trading platform eToro has added two new tokens for its users – Chainlink (LINK) and Uniswap (UNI). The two cryptos are a nod to decentralized finance (DeFi) by the Israeli multi-asset brokerage, with Chainlink being a critical piece of the DeFi infrastructure and Uniswap being the biggest DeFi marketplace.

With the addition of the two cryptocurrencies, eToro now offers 18 tokens to its 20 million users. However, for users in the U.S, it only allows access to 16 as they can’t trade Binance Coin (BNB) and XRP. Alongside LINK and UNI, investors can trade Bitcoin, Ethereum, XRP, EOS, Cardano, Litecoin, TRON and other leading cryptocurrencies.

Commenting on the new additions to the stellar lineup of cryptocurrencies available on its platform, eToro’s vice president of business solutions Doron Rosenblum stated:

Now is the right time to be adding new cryptos to eToro. We have seen an explosion in retail investor appetite for the asset class and strong demand to invest across a greater range of tokens.

This is just the first of many token additions on the leading social trading network this year, Rosenblum added, stating, “We will continue to find ways to open up this sector to more people, including adding more tokens later this year.”

[Here is a simple guide on how to buy Bitcoin from eToro.]

The two tokens were largely unmoved by the bullish news. Uniswap gained a paltry 1.56 percent to trade at $32.21. It’s currently the 11th largest crypto by market cap.

Chainlink, on the other hand, lost 3 percent for the day to change hands at $37.05. It follows closely behind as the 12th largest cryptocurrency by market cap.

DeFi is here to stay

With the addition of the two tokens, eToro has given a nod to the rapidly growing decentralized finance (DeFi) ecosystem.

Chainlink has been one of the most critical building blocks of the DeFi sector, being the biggest oracle network in the market. It connects blockchains to real-world data and is a key factor in the success of DeFi platforms that utilize its data.

Uniswap, on its part, is the largest decentralized exchange in the market. Uniswap has become the go-to platform for many traders seeking to make simple swaps between different tokens. The platform has become popular as a marketplace for all the new tokens. According to Etherscan, Uniswap is the biggest gas fee guzzler on Ethereum, accounting for 20% of Ethereum fees in the past 24 hours.

Rosenblum commented, “Both LINK and UNI have interesting use cases and remind us that not all cryptos are designed to be currencies. Chainlink is an important project that aims to overlay internet data with information stored on the blockchain and Uniswap is a critical part of the crypto trading infrastructure.”

eToro to follow Coinbase lead with public listing

Since launching support for cryptocurrencies in 2014, eToro has become one of the leading onboarding platforms in crypto. In 2020, it added five million users and generated over $600 million in revenues. The company is banking on this popularity as it awaits to list publicly on the Nasdaq stock exchange. eToro is set to list via a merger with FinTech Acquisition Corp. in a $10.4 billion deal.

eToro’s public listing comes after yet another crypto giant debuted on Nasdaq. Coinbase, trading under the ticker symbol $COIN, was a massive success in its first week at the stock exchange.

Der Beitrag eToro adds Chainlink and Uniswap in nod to DeFi erschien zuerst auf Crypto News Flash.

With the tailwinds of a fresh $2.2 million fundraising at its back, Don-Key  aims to become the eToro of DeFi by building a comprehensive social platform for yield farming designed to improve accessibility and magnify yield farmers’ potential.

Platform Designed To Attract Capital By Easing Entry For Newcomers 

Decentralized finance (DeFi) is finally capitalizing on blockchain’s ability to displace traditional centralized finance (CeFi), but the road to adoption remains long despite its progress.

As DeFi’s popularity grows with time, it is shining a spotlight on one of the most complex yet vital ecosystem activities: yield farming. For the uninitiated, yield farming is effectively like depositing money in a certificate of deposit (CD) that earns periodic interest when locked up. However, unlike CD yields which typically only yield a few percent annually, yield farming returns (APY) can be multiple magnitudes more profitable.

Like most things blockchain, the learning curve for this Wild West of DeFi is steeper than most. Fortunately, that all is changing as Don-Key embraces eToro’s social trading model in the form of a DeFi yield farming platform.

Don-Key’s Simple But Elegant Solution: Social Farming

Like eToro disrupted investing by bringing social money management to financial markets and cryptos, Don-Key aims to do the same with its yield farming platform. By flattening the learning curve and making the concept more accessible to a broader swath of cryptocurrency users, the platform intends to help both farmers and “hodlers” capitalize on these potentially outsized returns.

After recently concluding a successful $2.2 million round of capital from a consortium of investors, including AU21, Black Edge Capital, Genesis Block Ventures, Morningstar Ventures, MoonWhale, Solidity Ventures, and Spark Digital Capital, Don-Key is busily taking a page out of eToro’s book.

Like copy-trading, users of Don-Key’s platform will be able to engage in copy-farming by sorting through yield farmers on a leaderboard that displays the top performers or based on parameters such as reputation. For users allocating crypto, costs will be lower relative to existing farming techniques thanks to investor pooling. Moreover, the farmers and liquidity providers who join the platform will enjoy tokenized rewards.

By simplifying the interface and the experience for the uninitiated, Don-Key intends to support all the platform’s stakeholders. Instead of hazarding the yield hunt and smart contract vulnerabilities along with constantly fluctuating returns, new entrants can back successful farmers. By extension, the farmers themselves can expand their access to capital to generate higher returns.

Through this incentivization and gamification model, farmers must constantly be on the hunt for opportunities. Due to the rigors of yield farming that make it very unapproachable for users with smaller amounts of capital, this model will encourage more DeFi participation and, ultimately, adoption. With fresh funds to support its ambitions, Don-Key will continue platform development in the meantime, with rollout plans yet to be announced.

About:

Don-key.finance was founded in 2020, at the beginning of the yield farming craze,  with a very clear vision of bringing the simplicity of ‘copy trading’ to the complex world of DeFi Yield Farming. An initiative that came from real necessity, Don-key’s founders are DeFi enthusiasts from Israel, Cyprus, Ukraine and India with a true passion to democratize yield farming and helping crypto users around the world stay up to date with the constant evolution of the yield farming space.

Contacts

CEO

• Gil Shpirman
• Don.Key Finance
• Gil@don-key.finance

Der Beitrag Don-Key to take eToro’s approach to yield farming after closing $2.2 million round erschien zuerst auf Crypto News Flash.

Conceived as a social impact project, GoodDollar.org has announced the expansion of its initiative to generate and distribute universal basic income with the G$ token. With the support of eToro, GoodDollar will deliver rewards to 50,000 basic income recipients.

Rewards will be distributed daily to all users of the initiative via the GoodDollar protocol which differs from other projects in that it delivers free funds daily to all of its users. In addition, GoodDollar has a “user-friendly” wallet. This is to achieve another of the project’s objectives which is to allow anyone to use cryptocurrencies.

In addition to daily distributions, the GoodDollar protocol will give away 100G$ to all users who bring invitees to join the project. They themselves will receive 50G$ as a welcome gift. The GoodDollar team stated in a press release:

The referral scheme will expand the GoodDollar user network and thereforestrengthen the utility of G$ to be used for global peer-to-peer commerce and varied communityusage.

GoodDollar has seen a growth of over 17,000 users recently and its adoption has grown to become a medium of exchange in established marketplaces in 40 countries. There, “a growing community of entrepreneurs”, according to the release, offer digital services and others with the G$ token.

The project was created by the founder and CEO of eToro, Yoni Assia. Via a press release shared with CNF, Assia stated the following about the initiative:

GoodDollar’s rapid success in reaching thousands of users across the globe shows that realpeople are eager to enter the digital assets market, and are hungry to participate in socialprojects designed to make the world a better place. We are confident that our sponsorship ofGoodDollar tokens for new users will support the onboarding of 1 million users to GoodDollar,as part of our larger mission to give more people the ability to experience and use digitalcurrencies.

Assia added that eToro’s support of the initiative is a sign of the new model that enables corporations to contribute to society and added:

Our support for GoodDollar presents a new model for how corporate entities such as eToro canuse their resources to do social good, through supporting efforts that educate and preparepeople for how to use digital currencies in a digital world.

Der Beitrag eToro expands GoodDollar initiative to 1 million basic income recipients erschien zuerst auf Crypto News Flash.

On eToro customers can buy and sell BTC and enjoy benefits not available on other exchanges, such as instant execution of market orders. Furthermore, using eToro does not require the use of your own digital wallet.

eToro: Buy Bitcoin – In three easy steps

If you’re in a hurry and just need a quick step-by-step guide on how to buy Bitcoin on eToro, you’re headed here. Here’s how buying BTC from the broker eToro works in three steps.

**68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.

Step 1: Register with eToro

The first step is to create an account with eToro. Simply go to the website* (using the button above) and click the green “sign up now” button. A new window will open asking you to enter a username, email address and password. Once you have entered all the information, you must also accept the Terms of Use and Risk Disclosure, Privacy and Cookie Policy. Then you can click on the blue button “Create account”. You will then receive a confirmation link in your email to activate your account.

Step 2: Deposit money

In the next step you can deposit money directly. To do this, simply click on the button “Deposit money”. You have to keep in mind that eToro only allows deposits up to 2,000 dollars without full verification. So you may need to register and verify your personal details first (see the detailed instructions for more information).

To buy Bitcoin on eToro you can continue without verification. After clicking on “Deposit money” a new window will open on the right side as you can see in the picture below. Here you enter the amount you want to deposit and the payment method.

Probably the fastest and easiest payment method in our experience is PayPal (if you have an account). Otherwise, the following payment methods are available:

• Credit card
• PayPal
• Instant Bank Transfer
• Rapid Transfer
• Skrill
• Bank transfer (SEPA)
• Neteller
• UnionPay

Simply select your preferred payment method from the drop-down menu and click the “Send” button. If you’re in a hurry and want your deposit to be instantly visible on your eToro account so you can start buying Bitcoin right away, we recommend you deposit by credit card, PayPal or Skrill. Your funds will be instantly available on your trading account.

Step 3: Buy Bitcoin on eToro

Once the deposited money appears in your account you can start buying Bitcoin on eToro. Simply go to the menu item “Markets” and then “Crypto”. Both steps are shown in the screenshot below.

A new window opens in the right side where you can find the options to Buy and Sell Bitcoin (step 3 in the screenshot). Now you can click on the “Buy” button. A new pop-up window will open. You can leave all settings as default if you just want to buy “real” Bitcoin and not CFD’s. Except for your desired amount, there is no need to make any other changes. If you click on “Open trade” (step 4), the Bitcoins will be bought immediately and will appear in your eToro Bitcoin account.

If this short manual is not detailed enough for you or if you have open questions about individual functions, we recommend that you read our explanations in the following section carefully. We explicitly discuss individual functions and explain why verification is important for eToro in the long run.

Buy Bitcoin on eToro – Step by step guide

If you’ve already signed up and made a deposit, you can skip the following part and scroll directly to the information about eToro’s fees, costs and special features. Whether you want to set up a demo or real money account to trade Bitcoin, you first need to create an account with eToro.

**68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.

How does registering with eToro work in detail?

The first step in setting up an account with eToro is to visit the official website etoro.com. The best way is to click on the button above. Now click on the green “Sign up now” button on the homepage. A new window will open where you have to enter your username, an email address you want to verify and a password.

Once you have entered all the information, you must also accept the Terms of Use and Risk Disclosure, Privacy and Cookie Policy. Then you can click on the blue button “Create account”. You will then receive a confirmation link to your email to activate your account. After you have done this, your account is ready to go.

Verification on eToro

After clicking on the verification link in the email you will be automatically logged into your account. You may have to update the website again. Your current account is subject to certain deposit limits as you have not yet verified your identity. Therefore, a deposit limit of 2,000 euros or dollars applies for the time being.

In order to buy larger amounts and make withdrawals you need to prove your identity and address as well as a tax number. There is no way around verification, so we recommend you do it immediately after registration.

This process is required by the strict requirements of EU law and other laws worldwide and is already a standard procedure on many other exchanges. The verification is completely free and can be done in a few simple steps. Click on the “Edit” button next to your name (see screenshot).

Afterwards a new pop-up window “Create your profile” will open. At this point you can simply click on “Continue”. eToro will ask you 10 questions. Among other things you have to enter your full name, your address and your date of birth. Additionally eToro asks you about your trading experience. At this point don’t be intimidated by the questions and answer them honestly. Your information will not affect your successful verification.

eToro also checks your phone number and sends you a verification code via SMS which you have to enter on the website. In step 8 of 10 you need to upload either your ID card or passport. You can easily take a photo with your smartphone.

In the last step you have to verify your address by uploading for example a current electricity bill or another document.

Deposit Euro or dollars to buy Bitcoin

Now you can deposit money. All you have to do is select “Deposit money” in the lower left corner and then enter your preferred payment method. Depending on the method of deposit, the deposit will faster or slower.

Buy Bitcoin with PayPal

PayPal is probably the most popular payment method to make a deposit at eToro. The big advantage of PayPal is that the amount you deposit is immediately available for Bitcoin trading on your account.

Buy Bitcoin with credit card

If you have a credit card, you can also buy Bitcoin by credit card. As with PayPal, your deposited money is immediately available on your eToro trading account.

Buy Bitcoin with bank transfer / SEPA

If you have neither an electronic payment method (such as PayPal) nor a credit card, the classic bank transfer (SEPA) is probably the best solution for you. However, keep in mind that the minimum deposit is USD 500. If you choose bank transfer you will see eToro’s IBAN and BIC so you only need to make one transfer from your bank account. Another drawback: The money will arrive on your eToro trading account after 1-2 days.

Tutorial to buy Bitcoin on eToro

eToro has the special feature that both “real” cryptocurrencies can be bought on the platform, as well as Bitcoin CFDs. Crypto CFDs are not available to US users and under FCA. CFD stands for Contract for Difference.

You need to remember the following for trading on eToro: All buy positions without leverage for cryptocurrencies (since September 3, 2017) are traded as a real asset. Your investment on eToro is secured with the real asset. This means that eToro buys the cryptocurrency in your name and stores it in a separate account under your name.

All leveraged buy positions are executed as CFDs. CFDs are so-called derivatives – a security whose value or performance depends on the development of one or more underlying assets. They are specialized and popular over-the-counter (OTC) financial products that allow traders to easily open positions in a variety of financial markets. The underlying asset – the cryptocurrency – is actually not purchased by the investor, only a certificate on it.

Buy “real” Bitcoin from eToro

To buy not only a CFD, but the cryptocurrency, you must first click on “Markets” in your account and then on “Crypto“. After that a new window will open on the right side where you have to select “Buy” Bitcoin (step 3, see screenshot).

Afterwards a new pop-up window will open. In this pop-up window, you should not change any other settings except to enter your amount if you want to buy “real” Bitcoin. As soon as you click “Open Trade”, the order will be placed. Your transaction will be executed within a few seconds.

On “Portfolio” you will see your Bitcoin balance and have the option to buy or sell more, as well as to view the price development.

**68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.

Buy Bitcoin CFDs

Buying Bitcoin CFDs works very similarly and almost analogously to the previously presented buying guide for buying real Bitcoins. However, some parameters have to be adjusted in the pop-up window.

First you determine, as usual, the amount of money you want to invest in this trade. Then you have to set the leverage multiplier “X2”. For cryptocurrencies eToro does not currently offer a larger leverage. After that you should set your stop loss and take profit settings (more on that later). A stop-loss limit is very important to limit the potential risk. Then you can open the trade.

It’s also important to know that there are overnight fees (also called rollover fees) with eToro. These appear in the pop-up window before you place your order.

**68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.

Why should you buy Bitcoin on eToro?

In recent years eToro has become increasingly popular in Europe other parts of the world. Within a very short time eToro has become one of the leading brokers. The company, officially based in Cyprus (EU), specializes in trading in foreign exchange, stocks, indices, ETFs and certificates on commodities. However, since 2017 eToro has added more and more cryptocurrencies to its portfolio and currently offers 16 different cryptocurrencies for trading – as real cryptocurrency and as CFD.

The company was founded in Cyprus in 2007. It is therefore subject to the Cyprus Securities and Exchange Commission (CySEC). In addition, eToro has established a subsidiary in the UK, which is why it is also controlled by the British FCA.

The increasing popularity of eToro is not only due to its high seriousness but also to the numerous features it offers. Especially in the area of social trading and copy trading the broker clearly stands out from the competition (as we’ll explain in detail later).

eToro fees and costs

The fees can be found very easily and quickly in the general information on eToro. This is very commendable from our point of view. As of 2019-06-19 eToro charges the following fees for cryptocurrencies:

It should be noted that the fees listed above apply only to leveraged buy positions, as well as to all sell positions and to all crypto-pair positions (but not to the purchase of “real” cryptocurrencies without leverage).

Furthermore, a processing fee is charged for the payouts. You will see the respective withdrawal fee in the cashier area after you have entered the withdrawal amount. For withdrawals larger than 50 USD, the fee is 25 USD. Since all trading accounts are maintained in US dollars (and not euros), a conversion fee is also charged on deposits and withdrawals. Therefore, your deposited amount will be converted into US dollars immediately. This is done at the current exchange rate.

If you want to use the eToro wallet, you will also have to pay a fee when you send your cryptocurrency from the platform to the mobile app. More details on the eToro mobile app / wallet can be found below.

In addition, eToro charges an inactivity fee of $10 if no login is made for a period of 12 months. However, this only happens if the account has funds. The fees are subject to change without notice. All current fees can be found at eToro on this website (click!).

**68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.

Sell cryptocurrencies on eToro

Customers on eToro can withdraw their funds (in USD!) at any time. It can be transferred to your verified bank account (the same account you used to deposit) up to the amount of the balance minus the amount of the used margin. You must have a verified bank account.

Processing a withdrawal order can take up to one business day. Depending on the payment service provider used, however, this period may be extended once again. Below are the guidelines provided by eToro until you receive your money

The minimum amount for a withdrawal is 50 USD. The fee is 5 USD. If you make a withdrawal in a currency other than USD, there will be additional conversion fees. These vary depending on the payment provider.

Since March 2019 eToro offers the possibility to manage Bitcoin and other Altcoins on a mobile wallet (an app). The app allows you to withdraw your “real” cryptocurrencies from the exchange and send them to your own wallet.

The eToro wallet is equipped with numerous features that make it interesting to download the app. For example, the eToro wallet allows the transfer of Bitcoin to other wallets, such as other crypto exchanges or hardware wallets. Furthermore the app offers the following features:

• exchange crypto-to-crypto
• payments in shops
• Make deposits

The app is available from the Apple Store and the Google Play Store.

It’s important to know that you have to meet certain requirements to be able to withdraw cryptocurrencies and send them to the eToro wallet. These restrictions relate to the time of your first deposit, your eToro Club membership level and the payment method you use. The following table shows the number of days that must elapse (in time) from the date of your first deposit compared to your Club membership level and the payment method you use before you can use the wallet:

And this is how it works: If you have installed the app, you can click on “Portfolio” and there on the “Edit Trade” setting gear to transfer the cryptocurrencies to the eToro wallet. On the tab “Funds“ you then have the option to click on “Transfer to the wallet“. Once you click on this link, the following popup window will appear showing you the number of units and the fee.

The transfer to the eToro wallet can take up to one business day for the transfer to be processed by eToro. After that further time may pass until the transaction is visible in the eToro wallet as the transaction still needs to be processed in the Bitcoin blockchain. During this processing the transaction appears as a “pending transfer” in the portfolio. It’s also important to know that a transfer fee is charged by eToro as well as a blockchain fee.

**68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.

Buy Altcoins on eToro

Besides Bitcoin, eToro currently offers 15 other cryptocurrencies.

eToro review and our own experiences

Security and reliability

Especially with a broker like eToro, where you delegate the management of the private keys to a third party, they have to be well protected! With the private key the user delegates the control over his own assets to a third party, here: eToro! This makes it all the more important that the broker is serious and trustworthy.

This is clearly affirmative from our point of view with eToro. Customer funds are usually always well protected when the respective broker is supervised by a regulatory authority. eToro is controlled by two regulatory authorities at the same time, which are considered very accurate and strict in professional circles:

• CySEC: As eToro has part of its headquarters in Cyprus, the Cypriot CySEC is responsible for surveillance.
• FCA: Since eToro has also established a subsidiary in the UK, the UK FCA is also responsible for monitoring eToro.

Furthermore, the broker actively protects customer deposits by keeping them separate from company assets. Even if the Broker were to become insolvent, the customers’ funds would not be included in the insolvency estate. In addition, eToro offers deposit insurance up to a value of 20,000 dollar per customer.

Fees and payment options

Trading cryptocurrencies is a lucrative business, and the exchanges can set their own fees. Therefore it is worthwhile to compare. Like all exchanges, eToro requires a spread, as well as other fees for the transaction itself. It’s commendable that all fees can be found in the general information (FAQ) on eToro’s website. eToro is thus much more transparent than other exchanges and brokers. However, there is also a catch: Especially for long-term investors and investors, the fees can quickly add up.

The fees are above average in comparison. However, eToro also provides a very secure and professional platform for this, offering numerous features and advantages. The deposit options are the same as for credit cards, Giropay, Neteller, PayPal, Skrill Limited UK, WebMoney and SEPA wire transfer.

The fees of the best broker in comparison

Litebit	Coinmerce	Bitpanda	Coinmama	Coinbase
Available in: Europe	Available in: Europe	Available in: worldwide	Available in: worldwide	Availbale in: 103 countries
Fees: approx. 1-2%	Fees: approx. 1-3%	Fees: 1,49%	Fees: 5,9%	Fees: 1,49%
Visit Broker*	Visit Broker*	Visit Broker*	Visit Broker*	Visit Broker*

The support

From our experience the broker offers a very good and fast support. This is available via a live chat and a customer support ticket system 24 hours a day, Monday to Friday. We have had very good experiences with the live chat in particular and have always received help within a few minutes.

Hacks

We are not aware of any hacker attacks where cryptocurrencies were stolen from eToro.

Bottom line

eToro is in our opinion not without reason one of the largest and most popular brokers in Europe. If you want to buy Bitcoin on eToro you have the choice to buy BTC as a “real” cryptocurrency or as a CFD. For both ways eToro is a good option.

**68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.

Der Beitrag Buy Bitcoin on eToro: Tutorial – Guide how to buy BTC erschien zuerst auf Crypto News Flash.