The recent boom in the cryptocurrency
market has had a significant impact on the eToro. The eToro CEO has even
claimed cryptocurrency could “potentially be as big as the Internet,
even bigger.” The optimistic CEO wenton to appreciate the growingeToro
platform and the increasing number of thosewho are using eToro as their
preferred investment and trading platform for cryptocurrencies.
But, the growth has raised some issues
both from a technical standpoint, as well as some challenges when it
comes to customer service. Due to problems in delays, eToro has been
working hard to restore full functionality to all its users by employing
more people, using more servers than before and in general speeding up
the processing of new clients into the eToro ecosystem. Thereby
promising a smoother and better eToro than before.
How eToro protects its users
Furthermore, there have been some
warnings surrounding cryptocurrency as it is still in its infancy and is
potentially unstable. Therefore, eToro is also subject to these
failures or instability in the cryptocurrency department just like other
cryptocurrency traders. However, some measures such as disabling the
ability to open, edit or close trades when the market is unstable will
help protect clients and users.
Due to the instability of the
cryptocurrency market, the CEO has encouraged users to split their
capital across multiple investments and has taken the opportunity to
highlight some of eToro’s other services, namely CopyFunds.
What is CopyFunds?
CopFunds is an algorithm powered
portfolio manager done at the press of a button. This allows you to have
diverse investments in different things like stocks, commodities, Forex
trading and last but not least, cryptocurrency. CopyFunds allows its
users to make long-term investments and copy trading habits from top
performing traders. CopyFunds allows it’s users to make safe investments
and build a large diverse portfolio very easily.
The current state of cryptocurrency
Advising against complete dependency on
the cryptocurrency market was reiterated by the CEO, and opportunities
to invest in other markets that have been just as successful in recent
years was highlighted.The main focus was on how volatile the current
cryptocurrency market is. Additionally, there is lack of data on how it
will perform in the long run and so, it is not supervised by any EU
regulatory framework. Despite performing well in the past 5 years, there
is still not sufficient data to justify a large investment and fully
commit to it, as it is a risk.
Conclusion
The CEO has shown interest in the recent
growth in cryptocurrency and its trading potential in the market but has
also cautioned the users to be wary of common pitfalls such as
investing everything in one place. And so, he has encouraged users of
the eToro platform to continue with creating diverse portfolios with the
help of CopyFunds and not just for cryptocurrency trading purposes,
thereby spreading and securing investments and allowing it to
automatically copy experienced traders to make smarter deals and trades
overall. Therefore, resulting in a satisfied customer base.
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