From Housewife to Top Trader: Anyone Can Trade Cryptocurrencies with eToro | Coinspeaker

From Housewife to Top Trader: Anyone Can Trade Cryptocurrencies with eToro

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by Sofiko Abeslamidze · 3 min read

Social trading made the revolutionary eToro platform balance the chances for newcomers and ranked traders on bringing the crypto-house down.

The growing and encouraging emergence of a cryptocurrency has marked the beginning of entirely new investment markets. Unlike traditional financial markets that limit entrance to only an eligible few possessing required amount of initial investment, the newly-born market of digital assets is open for everyone who willing to get their feet wet in the world of cryptocurrency.

Being on its first stage of development, the crypto-based marketplace lacks inherent traits of financial system such as intermediaries and barriers to entry, since there is nor government that has already elaborated authorized rules applied to cryptocurrency trading, neither any budget restrictions preventing beginners from easy trading. Hence, all you need to have to become a successfully cryptocurrency trader is an ability to recognize opportunities and learn from your mistakes.

The social trading platform eToro is a perfect start for your trading experience. Owing to its revolutionary Popular Investor feature underlying deep user’s interaction, you receive a unique opportunity to fill your knowledge gaps with the wisdom shared by experienced traders.

The advantages of social trading bring to new users are obvious, as learning is a never-ending process, and being part of an intelligent community accelerates that process. As a part of its platform, eToro introduces a user-friendly way of earning money, whereby users can copy successful traders who show consistent returns while maintaining a low risk score and eventually become Popular Investors.

On the other hand, Popular Investors also receive their benefits. The platform has a transparent remuneration system that rewards the most copied traders with bonuses for sharing their valuable experience with others.

Speaking on the perks of being Popular Investor on eToro, Jay Edward Smith, said:

The other thing which simply cannot be ignored is the potential income as a Popular Investor. When I first joined the program, I never expected to earn more than maybe $500 a month, as a bonus to my own trading income. Instead, it was enough to allow me to leave my job to trade full-time.

The use of CFDs for buying stocks is also worth to mention while listing platform’s breakthroughs. eToro allows its traders to buy “bite-sized” pieces of any stock, thus enabling them to trade with immense flexibility within budget. This, in turn, is excellent for copiers, giving them access to this incredible market with a relatively small investment when in the past, if you wanted a diversified portfolio of stocks, you would need an account worth millions of dollars.

However, managing a crypto-based portfolio still requires technical knowledge and risk management skills as a cryptocurrency market usually exhibits high volatility. For that purpose, eToro has created long-term investment instruments called CopyTrader and CopyFund , which offer a balanced portfolio of six cryptocurrencies including Litecoin, XRP by Ripple Lab, Dash, Ethereum Classic, Bitcoin and Ethereum.

Overall, the eToro platform contributes to fruitful collaboration of high-level traders and newcomers by creating a trustworthy and secure background for cryptocurrency trading. Therefore, regardless of your prior knowledge and experience in trading of digital assets, you have high chances to achieve long-term goals on the field of crypto-battle.

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