eToro Edge Over Others
Why should you do your cryptocurrency trading on eToro? The broker offers a number of benefits to traders, including:
- Virtual trading practice: A constantly moving market means you want to practice your cryptocurrency trading strategy before you place your first buy order. eToro is one of the only cryptocurrency brokers we’ve seen to offer virtual trading practice accounts for cryptocurrencies.
- CopyTrader feature for insider trading info: eToro’s unique CopyTrader function allows you to “copy” the buy and sell orders placed by professional cryptocurrency investors. This provides a win-win opportunity for both copiers and professionals. Followed users earn a commission when copied, which incentivizes users to make profitable trades. New investors receive a higher level of guidance when placing their first orders.
- Single payment spread pricing: eToro’s unique spread pricing allows you to pay a single, low-priced percentage commission on your trade. You can even get a return for a percentage of your commission if you lose a significant amount of money on a trade. You only get charged commissions once — when you buy. This can be very helpful for high-volume traders.
eToro USer Interface
The world of cryptocurrency trading isn’t often welcoming for beginner traders. eToro offers a simple, beginner-friendly platform that anyone can master in as little as a few trades.
Some of the features that we love about eToro include:
- A simple, quick sign-up process: Signing up with eToro is as simple as entering a little personal information and verifying your identity. Most traders will be able to create an account in as little as 10 minutes.
- A social media-like dashboard: Have you ever wondered what people are saying about Bitcoin, Litecoin and other cryptocurrencies on social media? eToro’s trading platform doesn’t only allow you to buy and sell cryptocurrencies, it also allows you to communicate with other traders and see what other traders think about the coins you want to trade. Simply click on the crypto you’re thinking about buying or selling to learn more about what traders are saying.
- Intuitive buy and sell order placement: eToro’s platform is easy for beginners to navigate, with simple order placement and up-to-the-minute pricing information. eToro also includes real-time charting and price updates on its ProCharts feature (which allows you to display multiple charts and access charting tools) and a free sentiment calculator for every currency available on the platform. Though it may not offer as many charting and analysis tools as competitors, eToro’s simplicity can be a welcome change for traders just beginning their investigation into the crypto trading sphere.
eToro listed coins
eToro is a cryptocurrency trading platform that offers investors access to 15 of the most commonly traded coins and tokens. eToro’s current list of supported cryptocurrencies include:
- Bitcoin (BTC)
- Ethereum (ETH)
- Bitcoin Cash (BCH)
- Ripple (XRP)
- Dash (DASH)
- Litecoin (LTC)
- Ethereum Classic (ETC)
- Cardano (ADA)
- MIOTA (IOTA)
- Stellar Lumens (XLM)
- EOS (EOS)
- NEO (NEO)
- TRON coin (TRX)
- Zcash (ZEC)
- Tezos (XTZ)
Though eToro does offer a solid repertoire of cryptocurrencies, it isn’t the most comprehensive place to buy and sell coins and tokens. Alternative exchanges like Coinbase and Binance have continued to expand their coin and token offerings while eToro’s list of supported cryptocurrencies has remained largely stagnant. We’d love to see eToro continue to explore additional crypto offerings for investors in the future.
eToro General rating
eToro’s main strength is its simple and straightforward platform. Beginners can sign up for an account in as little as 10 minutes with its intuitive verification process. Once you open your account, you have access to an easy order placement platform, straightforward commissions and pricing information, with a bustling social media network that can help you inform your trades.
The broker’s one-of-a-kind CopyTrader feature is equally as beneficial to professionals as it is for novice traders. Experienced traders get to share what they know with a larger audience (and earn some commission while doing it) while new traders receive a dynamic and up-to-date model portfolio to get trading started. Best of all, using the CopyTrader feature doesn’t incur additional expenses beyond the standard spread you’d pay buying and selling.
There are a few areas where eToro can stand to improve. It currently only offers 1 route to contact customer support, and traders can be left on hold for up to 1 week while tickets get processed.
We’d also love to see eToro expand its currency offerings even further to include smaller names like Chainlink and Bitcoin SV for another layer of exposure and diversification, taking the lead of other cryptocurrency brokers like Coinbase. With only 15 cryptocurrencies available to buy and sell, investors looking for the widest possible range of investments will likely find themselves disappointed with eToro’s current offerings.