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Top 3 Reasons Why Choose eToro for Crypto Investing

I am naming eToro as one of the better crypto trading platforms.

Why do I think so and why don’t I just say “the best”?

It’s hard to say the best because it doesn’t offer the option of staking with up to 42,52% gains like on Binance…and a few other reasons I list on this post.

While it doesn’t offer some of the options Binance has, I still believe that eToro is one of the better options for investing in crypto.

So what I want to do in this post is list the good reasons why I believe you should be using eToro for trading crypto.

Here is a list of the Top 3 Reasons Why Choose eToro for Crypto Investing.

Use them also as a table ofntents by clicking on them:

Low leverage on crypto and easy to use platform

Having low leverage on Crypto is a good thing, period.

Some may disagree with that statement as leverage gives you the potential to earn more faster.

Where is the problem then?

If you take Binance for example or some other crypto trading platforms, they tend to offer high leverage on crypto tokens, but luckily eToro does not.

I’ve heard recently that some people really made some huge blowouts with high leverages on Binance.

As far as I know, some of these platforms allowed 100X leverage on crpto tokens.

That is frigin insane.

If you check my first post where I talk about the 5 steps plan on how to become financially independent, I mention that leverage can be good, but when used in proportion.

When saying in proportion, I mean using only lower leverages up to 5X.

Anything above that number can be extremly dangerous on highly volatile assests like crypt.

Only 2X - 5X leverage avilable for crypto trading and that is a good thing!

Why Choose eToro for Crypto Investing - low leverage on crypto

While the crypto trading platforms like Binance offer huge leverages for crytpto assets, eToro allows max 5X leverage.

So why I think that is a good thing?

Well, let’s be honest with each other.

There are plently of traders who are still getting their feet wet with trading and the promise of higher gains can be very luring

…even to the seasoned trader/investor.

The reason I believe eToro is doing a great thing by limiting the allowed leverages on crypto tokens (and I hope they don’t change it), is because that way they protect their unwary clients from themselves.

New players, traders, investors or however you want to call them, are more likely to engage in such doings and not having that option, sort of limits them from making a fatal mistake and trade crypto on leverages higher then 5X.

For that matter, even 5X leverage can be very dangerous in the crypto world, but I believe that is about the max that should be allowed for these assets.

With all that said, be smart and use low leverages on crypto.

Use eToro and you will not risk going overboard.

eToro has a Simple and Easy to use interface for trading

Is that even important?

If you ask me, an easy to use interface is what sold me on eToro the first time I started experimenting with trading and investing.

As I started out with Forex trading, I tried all those meta traders and similar…

…none of them were good for me…too complicated, too many options…

What I was looking for in a trading platform was the simplicity of clicking buy to start a trade, press sell to start a sell trade, close position button for closing your position and that’s it.

The option to set buy orders and sell orders obviously is also important, but I didn’t care about that too much at the time and anyone starting out, likely sees it the same way.

You can check on the picture above about leverages, how simple an interface eToro runs and is partly why I believe the platform is a great choice.

Social Crypto trading as one of the Top Crypto investing strategies

Social investing is a feature eToro had from their early beginnings and is likely one of the reasons why the platform became so popular.

With social investing people with low or no experience at all in financial markets, can actually “exploit the system” and are able to make good returns by copying a trader that is performing well.

Why Choose eToro for Crypto Investing -social trading
Social trading on eToro - click the image link to check their video about it

If you check the link on the image, you will see a video there.

They kinda make it funny for the purpose of showing how easy and practical copy trader feature is. Check it out!

This feature basically allows you to copy any trades by a popular investor, which I will cover more about in a future article.

What that means for you and your crypto trading is that you just need to find a “stable” crypto investor and copy that person in order to profit from him being the smart guy knowing what to invest in.

Your due diligence here is just to explore and compare some traders to asses which suits more your risk VS gains exposure.

You see, this is a feature not many trading platforms have and being able to copy crypto traders where gains can be HUUUUGE, is a very enticing idea.

Along with the last reason, eToro really is a great platform for crypto trading. 

eToro also offers other assets for Trading and Investing like Stocks...

Have you seen how Binance and some other cryptotrading platforms are trying to have stocks available for trade?

Well, this is where eToro excels.

EToro didn’t start with crypto coins, but is slowly adding them.

They boast with around 30 amongst the top 100 crypto tokens by market cap at the moment of writting

The rest of the assests like Forex (currency trading), Stocks, Indexes, comodites and a few others are their trading staples for a long time already and also all available in the copy trader feature.

Sign up and start trading or investing in Crypto currencies on eToro

You see, the fact that you have an easy to use platform with a great trading interface, the option to trade multiple assest on the same platform…

and, if you choose so, not even doing the trading yourself and rather give “that job” to someone who knows what they are doing, is what I believe makes etoro a great platform to use for both trading and investing.

Check this link to signup on eToro and start trading or copy trading crypto currencies and other financial instruments available on the platform.

Also if you liked this article like it below, subscribe for my newsletter about new content and comment what are your thought about this subject or any questions you may have.

Cheers

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