Before cryptocurrency became popular the old financial and government systems dominated transactions across the world. Then along came the concept of free-market currency that anybody could deal in and make payments with.
A financial revolution was born, and since its conception, there are now many different currencies and platforms to invest and trade with. Alongside a general guide to trading, this eToro review may be useful to many people who are still learning and maybe interested in cryptocurrencies.
One of the concerns of potential investors is the lack of regulation that crypto has but as the popularity rose over the years many people gained confidence in this exciting new platform.
And now with many big-name businesses and financial institutions accepting payment in crypto, it has become more mainstream and has become a huge global phenomenon. With no real signs of slowing down and only increasing in its popularity.
But where and when did it truly start?
The Origins of Digital Currency And Its Rapid Growth
As early as 1998 the idea of a digital currency was being put forward, but due to the lack of trust of potential consumers, it took a full ten years to come to fruition with the launch of Bitcoin.
Not many people are sure of the origins but the name Satoshi Nakamoto is the name most heavily linked to its creation. Although it is generally believed to be a group of people rather than one person who devised Bitcoin, that is still unknown today and the world is in the dark concerning its origins.
Whilst Bitcoin may have been the first and most popular cryptocurrency many more have emerged since there are now over 7800 different currencies on the market available to purchase and trade with. Some of the most popular and successful include:
- Bitcoin
- Ripple
- Cardano
- Ethereum
- Litecoin
- Stellar
What is eToro And How Can You Trade With Them?
The trading platform launched in 2006 in Israel and allows you to trade cryptocurrencies, shares, gold, and oil stocks and also provides a forex service. Some people compare it to a sort of social media and trading platform, this allows other users to view and copy the trades that are made and the ability to copy them if they feel it is a good investment.
This is encouraged and makes it easier for novice investors to gain an insight into how to make money and learn to invest wisely. Trading with the eToro platform is an easy process, creating an account takes only minutes and can be accessed after using your Google or Facebook login details.
All that is required is a form of national identification and the deposit of cash from a credit card or some other internationally recognized financial institution. Providing that everything checks out you can begin trading in a very short space of time, allowing you access to multiple markets almost immediately.
But Just How Easy is it to Begin Making Money?
As with any trading company, it is unrealistic to begin immediately making money but the beauty of eToro is you can deposit a small amount to start with and begin the adventure of cryptocurrency trading. Unlike many other companies that require large deposits, it is tailored to beginners and professionals alike.
Any investment is inherent with risk, but being able to see and follow other investors who are performing well is a great platform to help you if you are unsure of the investment you are looking to place. Oil and gold can also be volatile depending on the current world demand and political environment, cryptocurrency can also be volatile but is still seen as a long-term safe bet by many.
Researching the current traders on eToro is vital, if they only trade once or twice a year then keep digging and find somebody and follow them who trades regularly. To start with research is the best tool at your disposal, the same with any financial transaction they may be thinking of making.
Is it Safe And Legal to Trade on The eToro Platform?
The eToro platform is a well-respected and trusted company used by many online traders both in Israel and around the world. With regulatory authorities from the United States, to Australia, and the United Kingdom endorsing the platform among many other countries allowing transactions from their respective territories.
With a high level of security, trust can be guaranteed when making a trade using eToro. The legality is not questionable with so many countries endorsing the use and after a high level of corporate inspection, there are no issues to be concerned about.
As with most popular trading platforms, the relevant authorities monitor and check for any wrongdoing, none has been found with eToro. Any transaction found to be irregular or unlawful will not be processed which gives the company a high industry standard and ensures success for both the client and company alike.
Other Than Crypto Which Other Investments Can be Made on eToro?
Other than just crypto trading eToro is a reliable and trusted platform for trading in many other fields, these include mineral trading, forex, and oil stock purchases. The eToro site offers multiple options to buy and sell many different stocks and shares from all over the world, every transaction is secure and guaranteed to process.
With such a wide range of options and security, eToro is an industry leader and with a proven track record of being reliable to their clients, the reputation is well deserved.
It is not easy to find such a well-regulated and trustworthy firm to trade with as many different financial services as eToro. Whether it is crypto or forex the transaction is guaranteed and secure from outside interference from the government, as with any crypto exchange it can remain anonymous.
What Is The Future For eToro and The Crypto Business?
The future never has any promises but it would appear that cryptocurrency and companies like eToro have a bright future and will be able to continue trading much to the delight of its millions of users.
With the markets fluctuating regularly there is still a trend that shows growth, as with any investment its value can change daily but so long as its long-term growth and projection continue to impress it is worth sticking with. With eToro you can follow experienced investors and make informed decisions on any investment you wish to make, free advice.
With many countries wishing to impose regulation on cryptocurrencies it is hard to see that it will not happen at some point, the United States is pressing hard on this issue as are many other governments around the world. But investors should not worry, it could take years and there is expected growth to be gained, also it may never happen, cryptocurrency is here to stay, not just for the short term but the long term also.
Conclusion
The trading market is worth billions and eToro is one of the industry leaders especially when it comes to crypto trading, a trusted and well-regulated company that can take care of a measure of financial investment needs.
Whilst sometimes volatile markets can change rapidly but by being able to follow successful traders through their platform you stand a good chance of learning and making a profit.
