*61% 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.
eToro who pioneered Bitcoin trading via CFDs in 2013, is the leading social trading CFD’s brokerage company and today continues to expand its cryptocurrency offering.
Recently they submitted two reports on the blockchain industry, one details the progress which Ripple has made so far this year, the other on Bitcoin and how it is luring investors to other investments, millennials and traditional traders alike.
What’s the real story?
CNN identified some of the trends that have been identified by eToro who wrote an article ‘Bitcoin is the ‘Gateway Drug’ to Stocks and Commodities or millennials.
In eToro’s article, they said that new investors who opened accounts in 2017 and 2018 and who bought cryptocurrencies were around 73%. 11% of those went on to invest in other assets like stocks, commodities, and forex.
Igbal Gandham, UK Management Director of eToro said that cryptocurrency trading made it easier for traders to start investing. Prevalent especially with 44% of millennials who began to invest in other options as well as cryptocurrencies. After trading cryptocurrencies it helped them to ‘demystify investing’ and look for other options.
Agreeing with Igbal Gandham, CEO and founder of Freetrade Adam Dodds compared Bitcoin to ‘pot’, saying that it was a gateway drug, encouraging people to go on to something better. Opening their eyes to investing in something else rather than the crypto fad.
According to the latest statistics, 43% of millennials trust cryptos more than stock exchanges and are more distrustful of traditional investments. They believe that crypto exchanges because of blockchain technology is less prone to manipulation in comparison to the more traditional markets.
77% of Generation X trusts stock exchanges more than cryptos, which is in contrast to millennials, who have more reason to be concerned about the financial market because they grew up in the financial crisis in 2008.
So far in 2019 Ripple’s XRP is doing great according to eToro, with XRP the most traded asset with trading volumes always up. XRP was ahead of Bitcoin and Ethereum, with XRP having 29,991 unique open trades in January 2019. Ethereum had 26,773 and Bitcoin only 25,148 unique trades.
Some traders at eToro are investing heavily in several other trading instruments such as oil and gold, with oil at 35,503 trades, gold at 32,484, Apple stocks, 31,767 and 31,683 for NSQQ100, which were more popular than XRP last month.
eToro’s unique next-generation social trading platform has propelled them to the forefront of investing, revolutionizing the way investors trade. They have over 6 million users worldwide and offer more than 1,000 instruments to trade, including indices, stocks commodities, currencies and popular cryptocurrencies like Bitcoin, Ether (digital currency for the Ethereum blockchain), Bitcoin Cash, Ripple, Dash, Litecoin, Ethereum Classic, Stellar Lumens and NEO.
That’s not all …
Their powerful social trading platform has revolutionized the way investors trade, enabling them to automatically copy other successful traders and copy open trades with no limits on the number of users that you can copy.
Their trading platform is easy to navigate and traders can practice trading on their demo account for an unlimited amount of time.
Bottom Line?
The campaign is to increase public awareness of crypto assets and as part of the launch cut the spread on all cryptocurrencies in half including Bitcoin.
Earlier in the month in a video, he expressed an interest in a partnership with Ripple.
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. 61% 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.
This communication is intended for information and educational purposes only and should not be considered investment advice or investment recommendation. Past performance is not an indication of future results.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
Crypto investments are risky and highly volatile. Tax may apply. Understand the risks here https://etoro.tw/3PI44nZ
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.
