Traders on eToro Will Receive Digital Assets
Cryptovest
Published May 10, 2018 11:37AM ET
Updated May 10, 2018 12:00PM ET
Traders on eToro Will Receive Digital Assets
The eToro trading platform, one of the best-known forex and crypto trading venues, plans to acquire and distribute the digital assets underlying its derivative contracts. Until now, eToro traders could bet on price fluctuations, but their actions were not the equivalent of having coins on an exchange wallet, and there were no options for withdrawal.
For now, trading crypto coins and tokens on eToro means the purchase of a CFD instrument. But after May 14, and until May 20, an optional upgrade of accounts would be made. Users may opt out in case they want to retain the previous type of positions.
Despite the fact there are no regulations banning the ownership of digital coins, some users may be more comfortable with the derivative instruments. Beyond the most popular coins - Bitcoin, Litecoin, and Ethereum, eToro has included new and hot assets - Ripple and Stellar, as well as DASH and NEO.
Recently, the eToro platform went on to profile the crypto investors. At the moment, most of the traders are novices in the crypto space, getting exposed to the assets for the first time. Compared to other exchanges and platforms, eToro is relatively conservative about its selection of tokens.
https://twitter.com/MatiGreenspan/status/994574749945692160
More than 90% of traders in crypto are male, the platform discovered.
With the trading strategies used, Ripple is yielding the best profits, and Bitcoin Cash has performed the worst for all investors. Other coins fall in the middle. The crypto markets have unprecedented volatility, and results vary strongly for those exposed on eToro.
https://twitter.com/eToro/status/994498706354434048
Forex platforms are one of the first to add exposure to crypto assets, and their advantage is the presence of advanced trading strategies, including shorting to bet on a falling price. The rise of crypto coins as an investment class sees a shortage of avenues for traditional investors, who want a simple fiat on-ramp to trade the risk. Crypto coin exchanges have a disadvantage in limiting fiat buying due to regulatory pressures and limitations.
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