The types of crypto assets that you can trade on eToro are limited to Bitcoin (BTC), Ether (ETH), Ripple (XRP), and Litecoin (LTC). However, there are a few different trading options available. You can either use eToro’s own ETN token to make your trades or trade directly with other crypto assets. If you choose the latter option, you will have to pay a fee for this service.
i) ETN Trading Fees: The ETN token is eToro’scryptocurrency. It has a fixed value that is pegged against the US dollar at $1 per ETN token. When you purchase an ETN from eToro, you pay $10 for each 1 BTC or ETH that you wish to buy with ETN. You will have to pay a $10 fee for every 1 BTC or ETH that you want to purchase with ETN.
ii) Direct Trading: If you choose to trade directly with other crypto assets, you will be required to pay a fee for each transaction you make. This is calculated based on the amount of the market cap of each crypto asset that you are trading against and is dependent on the volume traded. For example, if an announcement in the cryptocurrency market prompts a significant surge in trading volume, this may result in higher fees being charged by eToro.Click here https://www.sfgate.com/market/article/etoro-review-17052066.php to learn more.
iii) Credit Card Transactions: If you are using a credit card to make a purchase, you will have to pay a fee for each transaction you make. This depends on the amount you wish to purchase with your credit card and is calculated based on the market cap of the crypto asset you are trading against. For example, if you are trading Ripple against Bitcoin, there is no fee for this transaction. However, if you trade Ether against Bitcoin, there is a 0.5% fee for this transaction.
eToro has an intuitive and user-friendly platform that has been designed with the beginner in mind. The platform’s layout is straightforward to navigate and simple to understand. When it comes to trading crypto assets on eToro, there are two main ways of doing this – ETN token trading or direct trading: