With cryptocurrency trending again, especially because Bitcoin’s huge breakout over $40,000 and the altcoins that followed suit, it should be no surprise to see that eToro to become more successful. In fact, eToro showed a 25% growth in new user registrations when compared to last year. A part of it was because of the incentives offered by eToro for those interested in buying Bitcoin.
Free $500 Bonus
eToro decided to offer its US-based investors a very good incentive, a free reward bonus of $500. What did the investors have to do? Nothing except register a brand new account and then deposit an amount over $5,000.
Since there are so many people that move towards cryptocurrencies right now, the 10% deposit bonus by eToro was a huge success. In just 11 days, there were over 380,000 accounts created, which equates to around 35,000 per day.
Even more Than Free Money
eToro took things even further as they protected the new users from the huge crypto market volatility that appeared. The margin trading accounts were all disabled so that investors would not lose funds as they are over-leveraged in a market that was rapidly swinging.
Another thing eToro is considering right now is to pause the buy orders during weekends since this is when volumes and volatility are both very high.
According to Amy Butler, eToro spokeswoman:
“We did this in response to the volatility in crypto markets, and we believe it was the most prudent action to take.”
BTC price did drop as low as $10,000, leading to unprecedented volatility, one that eToro works hard to protect users from. Also, the trading platform gives investors access to much more than just BTC. There are several altcoins listed, including Ethereum, Dash, Litecoin, Tezos, NEO, and EOS. You can even take advantage of some pretty unique cryptocurrency features, like live social feed for top investors in the US and copy trading.