Sam Boughedda equities trader Sam is a trader and one of our lead stock analysts at AskTraders. After starting his career predominantly in the forex markets, Sam now focuses on gold and stocks with a preference for macroeconomic analysis. If you’re new to eToro (and . Apr 01, · eToro allows you to trade on cryptocurrencies directly, with their dedicated Wallet providing traders with a place to store a wide variety of crypto options (from Bitcoin to Litecoin). Through eToro’s safe and secure platform, buying and selling cryptocurrencies is a simple, hassle-free process. Trading Bitcoin On eToro First of all, it is essential to understand that you cannot buy Bitcoin on eToro. When you sign up, and you top up your account with $ and then “buy” Bitcoin, you are not buying it; you are just opening a “buy trade”.
Comment trader bitcoin etoroHow To Trade Bitcoin On eToro? (Step-By-Step Guide)
It offers a range of great features that mean it is suited to a variety of users from beginners, right up to professional, full-time traders, and is, in our opinion, one of the most forward-thinking exchange platforms out there.
They boast millions of active users and a whole host of exciting and unique features that make it stand out from the crowd. First up, if you have never traded before, or you have but are not particularly sure what you are doing, then do not worry as eToro has a range of features that can help you get started, learn, and develop into a trading professional. This gives you an excellent opportunity to learn how to trade without losing any of your capital , meaning you can build up your confidence and learn the ins and outs of the trading world before you put your money where your mouth is.
When you feel that you are up to speed and are ready to have a go for real, all you need to do is switch back to your Live Account, and you can put to practice your newly learned skill set. Another great feature that makes eToro unique is the vast number of educational materials on offer.
When you sign up to the site, you can access a vast range of videos, webinars, FAQs, tutorials, step-by-step and more that will give you plenty of information and tips on not just how to navigate the platform itself, but instead, how to understand the ins and outs of the trading world. You can also join in discussions and ask questions in the eToro forums, so you can interact with and get information from other traders of different backgrounds and different levels of trading capabilities.
This is an invaluable source of knowledge for those traders that are just starting out and goes hand in hand with its demo account function. The idea behind the concept is to allow investors to minimise both long-term and short-term risk , while encouraging opportunities for growth by taking copy trading to the next level and diversifying investments. Each CopyFund had its performance analysed and rebalanced periodically and with considerable attention to detail, to ensure that it is always maximising its full potential.
While every kind of trading carries a risk, and there is absolutely no way of guaranteeing success, but using these features and functions, you can certainly improve your chances of making a profit through making smart and lucrative trades.
First of all, it is essential to understand that you cannot buy Bitcoin on eToro. Instead, you are trading a CFD.
It allows the trader to speculate on the rising or falling or prices in fast moving or volatile financial markets such as cryptocurrencies, indices, and shares. In other words, rather than owning or trading the asset, you are just speculating on the change in its value. To open a basic account, all you need to do is fill in your name, email and a password. From there you can then use the demo account as well as access all of the information that you need such as FAQs and educational content.
Should you want to start trading and make deposits and withdrawals, you are going to need to go through the verification procedure.
You will be required to produce a range of documents such as a copy of your government issued ID like a passport, a recent utility bill, and other information relating to your economic circumstances.
While it might seem like a headache to have to provide all of this information, just to trade, it means that you are trading with a trusted and reliable provider and that you, your data, and your trading is in good and secure hands. All of your information is encrypted , and again they adhere to stringent standards set out by the various regulatory authorities that monitor them.
There have been no security or data breaches to date, and this is a record that eToro are very proud of as it means that you can trade in peace, knowing you are in good hands. Regular trading is the easiest way of trading on the eToro platform. Simply put, you just trade what you have, and you do not need to borrow or leverage any margin more about these words in a minute. Today, it offers a more comprehensive feature set than much of the competition.
Incorporating social media and social trading strategies more on this later , eToro has created a community of traders.
Simply put, if you want a single platform that gives you access to a diverse array of coins, with minimal upkeep and hassle, choose eToro. This prompts you to allocate some of your funds to making all the same moves the trader does. You can copy up to traders at a time, allowing you to capitalize on a wide variety of strategies implemented by a range of experts.
Having this functionality built in to their platform, eToro has ensured that traders do not need to go between separate wallets to successfully trade. You can use various social media tools to discuss trades and strategies before you take a risk.
You can also look at literally millions of trader profiles, observing risk scores, performance statistics, and portfolio history. In an industry where security and regulation is paramount, eToro has ensured their platform covers all bases. They choose these Popular Traders from their own user base — so you, too, could be a Popular Investor one day. Every time someone copies your portfolio, you get paid. These funds will be added to your account as cash each month, where you can send them over to your bank account.
One of our favorite aspects of the eToro experience is how perfectly the platform functions on both desktop and mobile devices.