eToro launched new Bitcoin account with incentives

January 18, 2021

Sayan Mitra
23

Bitcoin Boom

 
It is a well-known fact that Bitcoin surpassed its own records and touched more than $41,000. This resulted in a massive increase in investors for Bitcoin. So, the crypto industry started trending in the market once again. Many believe that this is the most happening thing in the financial world currently. The Bitcoin currency is in a boom right now. After Bitcoins, Altcoins are also in high demand. Hence, there is a long line of investors for cryptocurrency in the market. Investors include retail investors, institutions, corporates, and others.
 

eToro New Offer

 
eToro is a trading and multi-asset brokerage company. The company provides multiple services to its customers. They are financial services, online investment, social investment, Bitcoin exchange, and many more. It is in Israel. It has its offices in the UK, the United States, and Australia. The company is a platform for many crypto investors. It offers to trade and exchange multiple cryptocurrencies. They are Bitcoin, Litecoin, Ethereum, EOS, NEO, Dash, and others. The company also provides some unique features to crypto investors. One of the features is copy trading. It provides a live social feed of top crypto traders and investors in the US.
 
The company started a new offering for its US-based investors. The offer is to do nothing but just to register a new account. With every new registration, the company is offering a free $500 reward bonus. So, the customer will have to create a new account with eToro and deposit $5000. This way the users will receive $500 for free. This offer is too good for someone to pass.
 

Growth of eToro

 
Due to the new offer, the company is getting new registrations everyday. The company is flooding with new investors like never before. New registrations increased like anything. New user registrations grew 25 times as compared to last year’s registrations. The rise in registration numbers is due to the bitcoin’s increased value and the new offer. If we analyze, eToro is actually giving 10% of the deposit for free. Hence, there is a boost in the number of users for eToro. Observations are that 380,000 new accounts got registered in just 11 days. It is around 35,000 new users on a daily basis.
 

New Steps

 
The company’s new account bonus offer is very innovative. It is proving to benefit the company with a lot of new users. However, the company is also aware of the volatility of the crypto market. So, it is taking appropriate steps to protect its customers from market fluctuation. The market fluctuation is very high in cryptocurrency as compared to other assets.
 
So, due to the above reasons, the company took a few major decisions. The company disabled margin trading accounts as of now. The company is also thinking of stopping buy orders during the weekends. The volatility and the volume are highest during weekends. So, it is considering to stop buy orders during that time. The above steps taken by the company are for the user’s benefit. The company is trying to protect its customer’s funds from the highly volatile nature of the market.
Sayan Mitra
Sayan Mitra

Sayan is a writer by choice or rather by instincts. He had started as a content writer for an infrastructure development website. Over the years, he has been involved in several versatile projects, ranging from blogging to creative writing, penning down web content to site reviews. Tourism, fashion, real estate, gambling, sports, politics, business proposals, presentation work, technical writing, generalized topics – Sayan has done it all, with his words.

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