eToro Increases New User Deposits After Surging Demand

2021-1-10 21:44

eToro has temporarily increased the minimum deposit amount for new users to $1000.

Cryptocurrency exchange eToro increased its new user deposit from $200 to $1000. The exchange faced an unprecedented surge in demand for its trading services following Bitcoin’s historic rally.

The eToro announced on Twitter, that took the action to protect its 17m current users. They needed to: 40,000 new users signed up in a single day at the start of the year.

Everything’s going up

The spike at eToro came as Bitcoin rallied above the key psychological level of $20,000 on Dec. 16. The rally was accompanied by a steep increase in trading activity and trading volumes. Google Trends data also shows the BTC search volume is at its highest since reaching $20,000 in December 2017.

Moreover, mainstream media outlets such as the BBC and CNN started covering Bitcoin on their front pages as this time. eToro says the latest spike in demand was generated mostly from bidding individual retail traders.

Mainstreaming fees

Some crypto exchanges now require minimum deposits from new users to cover the costs associated with creating accounts. When crypto first appeared, though, the exchanges did not do this. Traders associated these charges with traditional exchanges.

However, cryptocurrency exchange Bitfinex took similar action in 2018. It introduced a $10,000 minimum deposit. The exchange faced overwhelming with demand during the 2017-2018 bitcoin rally.

A move similar to Bitfinex’s might have helped some exchanges this year. Binance’s servers stalled as Bitcoin broke past $20,000. The exchange suffered nearly two hours of downtime before trading resumed.

Coinbase also faced this issue. It has been plagued with outages ever since, and some traders are criticizing the exchange on social media because of it.

eToro said its educational resources, including its demo-trading accounts, remain unaffected by the new deposit minimum. The move remains until such time as demand falls or the platform upgrades its capacity.

This goes to show that the cryptocurrency industry can still be surprised by the level of new interest. The growth of institutional interest is growing stronger. The industry must prepare for waves of new investors.

The post eToro Increases New User Deposits After Surging Demand appeared first on BeInCrypto.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

eToro United States Dollar (USDEX) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 USDEX

etoro exchange demand new user announced rally

Источник: beincrypto.com

etoro exchange → Результатов: 96


eToro’s Professional Crypto Exchange Adds Institutional-Grade Product Suite, Launches Inverted Fee Model

Offering includes advanced FIX API, cold storage custody solution, Credit Line, special order types, and brand new high-performance matching engine  July 23, 2020: eToro, the multi-asset platform with over 13 million registered users globally, has added several enhanced trading and risk management tools to its crypto exchange, eToroX.

2020-7-24 22:00


eToro’s New Report Classifies Binance Coin (BNB) as a Utility Token and a Possible Security

The trading platform of eToro recently listed Binance Coin (BNB) this October and thus became the first external exchange to list the token native to the popular crypto exchange of Binance. BNB is now available on eToro alongside other prominent cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and more.

2018-11-28 19:21


Фото:

eToro Partnership Sees Binance Coin Exchangeable For Fiat For First Time

Cryptocurrency exchange Binance today saw its in-house token Binance Coin (BNB) become available to buy and sell with fiat currency for the first time. BNB Leaves The Crypto Realm In a partnership with UK-based trading platform eToro, the exchange will open up its token, which traders can use to pay fees, to direct exchange against the euro, British pound, US dollar or Japanese yen.

2018-10-29 22:00


Cryptocurrency And Sports: History Of Partnerships And Future Adoption

Cryptocurrency And Sports Recently eToro, one of the world’s leading currency exchange platforms signed a deal with a few English premier league clubs for advertising purposes. The deal which was settled and paid for by eToro using bitcoins is so far, the biggest partnership between crypto firms and sporting companies. This is not surprising seeing […]

2018-9-30 11:38


Фото:

Bitcoin ETFs Will ‘Remain Rejected’ Despite SEC Review, Says Analyst

Bitcoin exchange-traded funds will “remain rejected” despite US regulators ordering a review into why it rejected one of them, a market analyst forecast August 27. 9 ETFs ‘Will Remain Rejected’ In weekly comments on cryptocurrency and traditional markets, Mati Greenspan, CEO of UK-based hybrid trading platform eToro, described the decision to look into the US Securities and Exchange Commission’s (SEC) rejection of the Winklevoss ETF “largely a procedural protest.

2018-8-28 22:00


Фото:

‘Momentum Is Building On The Chain’: Analyst Says This Bitcoin Rally is Different

This Bitcoin price surge is not like the rest: that’s according to Mati Greenspan, who this week produced new evidence of Bitcoin’s solid underlying health. Interest ‘Not Just On Futures And Exchanges’ In a series of tweets Tuesday and Wednesday, the eToro senior market analyst and cryptocurrency commentator placed the spotlight on tight exchange spreads, activity in East Asia and network usage increases.

2018-7-25 16:00


eToro Social Trading Network Plans For Crypto Exchange & Wallet Launch

In an interview with NewsBTC, Managing Director of eToro, Iqbal Gandham shared the most anticipated launch of the eToro cryptocurrency exchange as well as its wallet. Known as a social trading and multi-asset managing brokerage firm, the direction of launching their own crypto exchange will definitely surprise and challenge competitors. Based on what Gandham shared, […]

2018-7-9 11:27


дальше еще 47 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

eToro Restricts Multiple Tokens for US Customers Following SEC Attack

eToro, a global trading platform, will restrict US users from opening new positions in ALGO, MANA, DASH, and MATIC cryptocurrencies starting July 12. The decision comes in response to regulatory developments and the SEC's classification of certain crypto assets as securities.

Trading Giant eToro Launches DeFi Portfolio

Multi-asset trading platform eToro has launched a portfolio offering clients exposure to decentralized finance (DeFi) projects. The post Trading Giant eToro Launches DeFi Portfolio appeared first on BeInCrypto.

eToro’s Q3 Report Argues DeFi Will Continue to Boost ETH

eToro and The TIE have released a Q3 report that examined the performance of major assets according to various metrics. It also looked at the effect of “SigDevs” and the impact of DeFi. Social trading platform eToro, in association with The TIE, has released a Q3 report analyzing the state of the crypto market.

5 Copy Trends: The Cringe, The Funny and The Awesome

CoinSpeaker 5 Copy Trends: The Cringe, The Funny and The Awesome Copying is such a huge part of today’s society that we had to draw a list of the top 5 hottest copy trends that shaped 2018 and we expect to see in 2019.