eToro Nudges Investors Towards Crypto Trading as They Consider Portfolio Diversification

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Cryptocurrencies have consistently performed better in the past few days and become one of the hottest asset classes in the global financial market. Their performance has secured the full attention of traders and investors who are now actively looking for ways to further diversify their portfolios with cryptocurrencies. The trend can be clearly seen in the number of new registrations that have been collected by various online trading platforms in the last few weeks alone.

Many crypto exchanges, online trading platforms and brokers have seen strong growth since the beginning of this year, many times higher than in the same period in 2020. According to eToro – a global online trading and brokerage platform – the However, recent Bitcoin rally the cryptocurrency above the $ 40,000 mark briefly saw the company register over 380,000 new accounts within the first eleven days of the new year. In addition to the increase in new accounts, the crypto trading volume increased 25 times compared to the same period last year.

Meanwhile, eToro is also pushing for increased adoption of cryptocurrencies and crypto trading by offering attractive rewards to new users. Such an ongoing advertising campaign enables traders and investors to receive a reward of $ 500 for opening a crypto trading account and placing trades worth $ 5000 (approx. BTC 0.14) or higher. Those who sign up during the advertising campaign not only get the opportunity to trade crypto in a very volatile yet lucrative market, they also enjoy the extra capital that is earned as a reward.

Exchange $ 5000 and get $ 500

The $ 500 Crypto Account Reward is the first of many promotions on eToro this year. It was announced in late 2020 and will run until the end of January 2021 and is only available to US residents.

To secure the reward, all you have to do is sign up for an eToro account, deposit funds and open crypto trades worth at least 5000 USD in your portfolio. The account opening itself is straightforward as all you need to do is provide a username and email address, set a password and complete a simple KYC process.

Once all of these criteria are met, you will automatically receive $ 500 on your trading account balance to place further trades.

Protect the user’s interest at all times

On the one hand, eToro encourages people to join the Crypto trading community while on the other hand it continues to proactively take appropriate steps to minimize the risks associated with the market / trading to its community. Most recently, when Bitcoin price hit an all-time high, the platform anticipated the possibility of a sudden crash and took the necessary steps to mitigate the potential for serious losses. Some of these steps included a brief pause in opening new leveraged crypto trading accounts. In addition, existing users have been asked to increase their deposit spread to cover the full value of any open positions or to close them.

In a statement, eToro spokesman Any Butler said, “We did this in response to the volatility of the crypto markets and we believe it was the most prudent move.” He added: “Leverage trading can be very dangerous in the current volatile conditions in the crypto market.”

Trade more than just crypto on eToro

In addition to cryptocurrencies, eToro users can also trade a wide variety of CFD products, including stocks, commodities, currencies, ETFs, and more. The platform gives traders around the world access to some of the most popular instruments. Users can also explore the platform’s CopyTrader feature which allows them to replicate the trading strategies pursued by very successful investors and to reflect their positions in the market.

Learn more about eToro at – https://www.etoro.com/

Image by Gerd Altmann from Pixabay