eToro, the world’s largest social trading network has cut their spread on all crypto assets, including Bitcoin, by more than half. Yoni Assia, eToro CEO on the drastic spread reduction:
We’re committed to supporting the mass adoption of crypto. We want to make it as simple and accessible as possible for investors to buy, sell or hold crypto. Cutting costs so clients keep more of their gains is one part of this.
yoni assia, CEO of eToro
Yoni Assia is known for his crypto and blockhcain enthusiasm. He believes in this new form of payment and investment from the bottom of his heart and wants to make it as easy as possible and as comfortable as possible to invest in cryptos. As Assia and his team want to bring the idea of crypto investment forward, they decided to cut costs on crypto trading and investment which resulted, obviously, in a severe spread reduction. Thus traders have more profit for themselves.
Trading or Investment?
Compared to other trading platforms eToro is not only designed for traders but also for ambitious crypto “hodler” who believe in the long term trend of the whole crypto industy. With eToro you can not only trade cryptos and other assets in forms of CFDs but buy real (physical) crypto currencies such as bitcoin, litecoin, ripple and dash.
Cryptos are volatile
Yes, cryptocurrencies are very volatile and not appropriate for all investors. It’s always clever to not put all your eggs in one basket but to diversify your crypto investments and thus diversify your risk. Last but not least you should only invest money into the crypto market you can afford to lose and always think of the worst case possible: If you can’t stand the heat, get out of the kitchen!
Now Bitcoin is known worldwide
Before the the heavy price ralley in 2017 there were only a few nerds worldwide who knew about cryptocurrencies. Yes, they always believed in the possibilities of this new form of payment and investment but nobody believed them. They were mocked as stupid nerds and coneheads. After the tremendous price ralley in 2017, where the bitcoin hit the 25k Limit, the whole thing changend. Suddenly everybody was talking about bitcoins, blockchain technology and other cryptocurrencies. Ever since the Bitcoin and other cryptos are in consolidation mode, but they haven’t vanished from planet earth. In reality they are being used by a large and growing number of people for digital payments. They don’t care about regulations and new laws.
A stable currency mustn’t be volatile
Although it is understandable that the crypto community complains about the crypto collapse it is a good sign for the crypto market on the whole. Why? A stable currency mustn’t be volatile. Imagine the EURUSD would be one day at 1,10 and the other day at 4,50. The whole world economy would be in turmoil, such a currency would be absolutely inapt. Have a look at countries with a volatile currency, such as venezuela, and then look at their condition. It’s a nightmare.
Consolidation was healthy and necessary
If the bitcoin and/or other cryptocurrencies shall be considered as a serious world currency the price range has to be fixed. If we never see the bitcoin hitting the 25k again this is a good sign for the crypto market on the whole and a good sign that the crpytos are being accepted and apte as a real currency.