Bitcoin and Ethereum Trading Increased by 4,500% at eToro

The social trading network eToro reported today that over the past year it has experienced an increase in both the relative number of users trading Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term, and the total volume of cryptocurrencies traded on the platform.

The London Summit 2017 is coming, get involved!

Trader sentiment at eToro towards both Bitcoin and Ethereum has remained consistently high. Bitcoin has seen 15 consecutive months of over 80% of Bitcoin traders buying the asset, whilst sentiment towards Ethereum has been even higher, with well over 90% of Ethereum traders buying the asset since its launch on the eToro platform.

Mati Greenspan, Senior Markets Analyst at eToro, said: "Cryptocurrency is the future of Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term. And over the last 12 months we've seen a 4x growth in traders accessing this market. But the volume of trading has exploded even more than this, with a huge 4,500% jump.

The eToro trading community has been quick to embrace the clear opportunities in cryptocurrencies. Our users have reaped significant rewards from the sharp growth in prices over the last 12 months.

The rapid growth in the adoption and price of cryptocurrencies only marks the first few steps on the long-journey to establishing cryptocurrencies as a dominant force in forex trading. We expect cryptocurrency trading volumes to get much bigger over the coming years.

Understanding cryptocurrency as an asset class requires expertise. But with eToro's copy functionality you can copy the trading strategies of our most successful crypto traders, and automatically be exposed to their expertise and the trades they're making."