The eToro, UK-based exchange, has announced that TRON (TRX) protocol has been listed on the platform. The announcement regarding eToro’s listing of TRON (TRX) comes following the launch of eToro’s trading services in the U.S earlier in March.
The eToro announced that it has started offering crypto trading services in 32 states in the United States. The exchange listed 13 crypto assets for trading including leading digital currency Bitcoin (BTC). Ethereum (ETH), XRP, Litecoin (LTC), Stellar (XLM) and Bitcoin Cash (BCH) are also listed.
Bitcoin (BTC) Price Today – BTC / USD
TRON (TRX) Price Trading at $0.022 USD
TRON currently ranks 11 among the top cryptocurrencies according to its $1.55 billion market capitalization. CoinMarketCap shows TRX trading at $0.022 as of press time. The digital asset is down by 1.5% in the kast 24 hours. Although it has surged by 1.3% in the last seven days.
With Tron’s mainnet was launched in June of 2018, TRON (TRX) was seeking to offer a decentralized platform supported by the digital entertainment industry. It is focusing on the even distribution of rewards for content developers. As of March 4, TRON (TRX) also announced that it had gone into a partnership with Tether (USDT). The goal was to introduce a TRC20-based token by the Q2 of this year.
eToro, which recently became the first crypto trading platform to offer the fiat trading of Binance Coin, has over 10 million users across the world. The Binance Coin (BNB) is an internal token launched and operated by Binance.
Back in February, eToro opened a study claiming that up to half of the millennial traders trust U.S digital currency exchanges more.
Yahoo!-Backed Exchange Taotao Will Be Launched
Japanese exchange Taotao will start trading in May of this year. The exchange will open trading with a limited range of cryptos.
Taotao, is 40% owned by a Yahoo! Japan subsidiary, will trade Ethereum (ETH) and Bitcoin (BTC) with margin positions in three additional cryptos: Litecoin (LTC), Bitcoin Cash (BCH) and XRP.
Prospects will be able to sign up and partake in a purely promotional giveaway scheme.
The plans became public knowledge in March 2018, when Japan’s arm of Yahoo! Revealed that it would buy a major stake in Taotao through its subsidiary, YJFX.
During that time, sources conversant with the matter insisted the purchase had cost Yahoo! 2 billion yen ($19 million).
Taotao Move a First in the Crypto Industry
This initiative marks the internet giant’s first steps into the crypto exchange sector. Taotao has reportedly gained regulatory approval and given the green light to launch in Japan.
According to an earlier report by Cointelegraph, the Japanese authorities have tried to impose stringent regulation or monitoring on entities looking to launch exchanges in the country. This move was set in full swing after several infamous hacks put a spotlight in country’s crypto industry.
Coincheck is reported to be the victim of the largest hack. This occurred when tokens worth half a billion USD were stolen by hackers in January 2018. Coincheck has managed to enter the market once more following a buyout.
Earlier in March, new regulations specifically relating to cryptocurrency margin trading gained approval.
What is eToro?
eToro has been amongst the leading online trading platforms since 2008. It’s branded as a social trading platform, and it aims to enable users to trade almost anything from commodities, currencies, stocks, and indexes to cryptocurrencies through one web-based and mobile platform.
The very first iteration of eToro was to function as an online trading platform for the forex market. However, in 2009, the company launched its intuitive trading platform through the WebTrader, the idea of which was to cater to both beginners and professional traders, providing both with the tools they need.
Since 2017, eToro has significantly expanded cryptocurrency trading on its platform.
It’s important to note that eToro offers two ways to invest in crypto assets. When buying cryptos with no leverage, you own the underlying asset, which is securely held in cold (offline) storage by eToro on your behalf. However, you are also able to invest in cryptos using leverage along with shorting the asset via a CFD (Contract for Difference). This approach means you won’t own the underlying asset – you are merely speculating on whether its price will rise or fall.
Another thing to consider is that eToro provides a social trading offering as well, which can be beneficial for those who don’t have the time and/or experience to trade themselves. This allows users to view the portfolios of the platform’s best investors and then automatically copy their trades in real-time.
Now, the very first thing you’d need to begin trading on eToro is to sign up for an account. It’s completely free, and it takes no more than a few minutes. You can find the sign-up form right on the platform’s homepage.
As with all popular platforms, you will receive a confirmation email, and as soon as you follow the link on it, your account will be verified.
Once you’re logged in, you’ll find eToro’s, particularly comprehensive dashboard. It’s incredibly simplified. On your left, you’ll see your profile menu which will help you navigate through the entire platform.
eToro Social Trading
Social trading is suitable for users who don’t have enough experience in trading. Beginners can copy trades of more experienced traders in a rather quick and easy way using the platform.
On the right-side menu, you have to click on the “Copy People”. As soon as you do this, a list of traders will pop up, along with their 12-month returns. eToro will display the most successful traders first.
You’ll also be able to see their current portfolio, as well as specific recommendations if you want to copy them. Click on the big blue “Copy” button, and you’re all set to go.
eToro Supported Cryptocurrencies
eToro is currently supporting a range of different cryptocurrencies. At the time of writing this, these are Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Ripple (XRP), Dash (DASH), Litecoin (LTC), Ethereum Classic (ETC), Cardano (ADA), IOTA (MIOTA), Stellar (XLM), EOS (EOS), NEO (NEO), Zcash (ZEC), and Binance Coin (BNB).
Additionally, the cryptocurrency trading pairs that you can engage in include:
Using eToro’s CryptoPortfolio
To cater to users who’d like to receive increased exposure to digital assets, eToro has created a special investment vehicle called CryptoPortfolio.
In short, CryptoPortfolio offers a bundled and diversified portfolio that places an emphasis on cryptocurrencies which have a market cap of more than $1 billion and average trading volume of more than $20 million throughout the entire month.
As the portfolio includes multiple cryptocurrencies, it’s important to know how they are distributed within the bundle. The weight of every single digital asset in the portfolio is decided proportionally based on the size of its market capitalization. The minimum is 5%.
It’s also important to understand that the investment committee of eToro will re-balance the CryptoPortfolio investment product appropriately on the first trading day of every single calendar month. This is geared towards guaranteeing the accuracy and relevancy of the product. If any of the included cryptocurrencies violate one of the previously mentioned terms, it will be delisted from the product.
Currently, the CryptoPortfolio contains the following cryptocurrencies:
Bitcoin Cash (BCH)
Ethereum Classic (ETC)
Keep in mind that because of the rebalancing events, it’s possible to close a specific position and to reinvest funds in new ones. This won’t require any action on behalf of the user and the new asset allocation will be performed automatically.
eToro provides an extensive range of trading options and, as such, the fee structure varies from one asset to another.
Exiting a position on Bitcoin will carry a fee imposition of 0.70%, which tends to be higher than most of the other crypto-based exchanges.
Other altcoins tend to trade at a fee ranging between 1% – 3%. Trading BTC against EOS, for instance, will carry a fee of 2.90%.
Withdrawing money from eToro uses the same method and is sent to the same account that was previously used for depositing. Payments will be made in the following order of priority: Credit Card, PayPal, and Bank Transfer. The fixed withdrawal fee is $25 per withdrawal.
As well as the withdrawal fee, there might be added conversion fees for any withdrawals which are not sent in USD. Source: CryptoPotato
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