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Social trading platform eToro released its cryptocurrency portfolio on 6 November 2018, with great fanfare. The company, which only last month became the first platform to list Binance Coin (BNB) outside the Binance ecosystem, has already promised to implement additional features for the portfolio, with the initial release with some limitations.
The eToro portfolio will give users the ability to transfer their Bitcoin tokens from the trading platform, and also allows the transfer of digital assets to other portfolios (and also to offline cold stores).
For example, we have looked at the portfolio to see some of its features that could be used to attract people:
registration
Registration on the app is simple. Users can register with their e-mail addresses or use the Facebook or Google option to access the app. New eToro users will need to confirm their email addresses and phone numbers to operate on the platform.
To start, you can decide to trade with your money (depositing funds) or trading with virtual money. Real Portfolio allows you to exchange with your money. The Virtual Portfolio, on the other hand, will allow you to purchase goods with virtual money.
Once this is ordered, you can deposit funds through a number of options, from credit card to PayPal and bank transfer
The app menu options include:
1. Trade
2. Discover
3. Other (Settings)
1. Trade
Contains everything you need to buy cryptocurrencies. There are three other submenu options here:
a. Watchlist
b. Wallet
c. News
a. List: This section contains a list of goods you are following together with the SALE and PURCHASE prices. The default list includes commodities, cryptocurrencies, legal currencies, ETFs, indices and stocks. The new eToro portfolio opens up a new world of possibilities for the trader. Users can trade ForEx like the EUR-USD, Bitcoin and stock exchanges of the major stock exchanges around the world.
b. Wallet: The portfolio section allows you to explore the investment opportunities of others by mirroring their moves.
c. News: The News Feed feature has become a mainstay for eToro. Being a social trading platform, it was built around some of the features that make social media so unique. News Feed allows you to keep track of what others are saying about the resources they are monitoring or negotiating.
2. Discover
2. DiscoverIt gives you a regularly updated diary of what is happening in the market. With this option, you can control the markets, copy the investment strategy of others or invest in eToro CopyPorfolios. CopyPortfolios is a portfolio management product that allows investors to copy other traders based on a pre-established strategy.
3. Other (Settings)
3. Other (Settings)This is the last section on the mobile app. You can invite your friends, check the Help section, withdraw funds from the app, change settings and log out.
For support issues, you can chat with eToro's customer support line from the app.
The eToro professional account
eToro classifies investors into two categories: retail investors and professional investors. A retail investor, on eToro, can trade on the platform and access the Copy Trader function, even if it is not possible to access some features of the app.
Professional customers, on the other hand, receive the full range of advantages of eToro. From high leverage to negative balance protection and zero restrictions on leveraging, being a professional customer is worth it.
To become a professional customer, you must follow these steps:
- Click "Apply now" and enter your details.
- A list of criteria will appear. Select the boxes next to the requirements that apply to you.
- Send your question and wait or further instructions will come later.
Also, keep in mind that to be an elective professional, you will need to pass a test to determine your level of fitness.
Economic calendar
With the economic calendar, you will be able to take advantage of upcoming events that could also affect some of the currencies, stocks and commodities you are following. The market is always on the move, and it is important to stay up-to-date on current events and events around you. With eToro's economic calendar, staying up-to-date is as easy as it gets.
To use the economic calendar, follow these steps:
- Choose the dates and time zones that will influence your exchanges.
- You can see events that could affect your operations.
- See the potential impact of each event on your trade.
- Plan your strategy with this new information.
eToro Copy Trading
The eToro Copy Trader offers a trader the opportunity to reflect the moves and bets of the best traders. To use this feature, open the app and search for a merchant. When you find a top trader that you like to copy, put aside some funds and click on "Copy Trade". If you'd like to trade like professionals without going through all the hassles, Copy Trading is what you need.
How to deposit
Making a deposit is as simple as it gets. EToro Wallet offers a wide range of payment options to choose from. Selecting the preferred payment option is easy. You can follow these steps to get started:
- Log in to your account.
- C & # 39; is a section tagged "Deposit Funds." Click on it.
- Out in the amount of money you'll like to deposit.
- Select your preferred payment method and make the payment.
How to withdraw
You can withdraw from your eToro wallet at any time. When you request the withdrawal, your funds will be sent to the same account used to deposit funds into your trading account. Funds can be withdrawn up to the amount of money left in your account, but not a used margin will also be deducted.
To sum up, the eToro wallet has many promises, with its distinctive feature is its seamless user interface that will prove to be quite interactive for newcomers and veteran merchants as well. It allows the transfer of digital coins to other portfolios and the platform also provides two-factor authentication for maximum security.
The main limitation is in the range of cryptocurrencies it offers. However, the company's leadership is already exploring the possibility of adding more coins in the near future.
