CFD trading platform eToro (click here) recently launched Ethereum Trading for its six million registered users to trade on the ETH/USD exchange rate. For those not familiar eToro is one of the worlds biggest stock trading platforms geared towards low level investors and “normal people”. eToro is regulated by both the UK Financial Conduct Authority and the Cyprus Securities Exchange Commission.
“If you want to invest in ethereum and you’re not a computer geek, you don’t really know where to start. We’re providing a simple way for people to get involved.” says eToro communication manager. Yoni Assia, co-founder and CEO of eToro, told Finance Magnates:
“We are very proud to add Ethereum to our platform, as a regulated financial institution we have to make sure there is sufficient liquidity and pricing for every asset we add to the platform, and today with a market cap of over 1B USD we see more and more interest from our traders worldwide to trade and invest in Ethereum.”
Ethereum (ETH) price has risen more than 14% in last few hours, while the market capitalization will soon reach $2 billion. The rapid growth in demand for ethereum cryptocurrency has attracted the attention of major online trading platforms.
How to Buy Ethereum at eToro in 3 Steps :
This three-click process is “probably the simplest way” to invest in Ethereum at the moment.
Step One : Create an account on eToro by clicking on this link, provide your email address, username, password and mobile number. In-depth account information can be accomplished later on and is not entirely mandatory.
Step Two : Deposit money in your eToro account. eToro platform trades Ethereum (ETH) on a ‘CFD’ basis, which means users buy and sell financial derivatives that track the ETH price without actually owning the underlying asset. Unfortunately, Ethereum deposits and withdrawals are not accepted on eToro. The only payment processors available on this platform are Paypal, MoneyGram, Neteller, and WebMoney. Credit Card payments are also accepted but for deposit purposes only. You have to deposit money using any of the above-mentioned payment methods and later you can trade Ethereum with that money.
Step Three : Open your Ethereum buy trade.
- Signup at eToro (or Login if you already have eToro account)
- Go to Trade Markets → Currencies → Ethereum → Trade
- Finally, Confirm your investment and once you confirmed the order will be placed. For more details check the following video
Note : eToro allows you to trade Ethereum without owning the underlying instrument itself. It’s just like betting with the broker that the price will go up or down. Investing in CFDs carries risks to your capital. Says eToro.
PS : If you are looking forward to buy coins digitally and receive in your wallet, then check our previous post > How To Buy Ethereum With PayPal, Credit Card.