News Crypto and cryptocurrencies

EtoroX adds Dash and seven stablecoin to its basket

As is known, even the platforms for the online trading have long been aware of the increasingly important role of cryptocurrency. Moreover, it was difficult for financial services providers to ignore a global success with the Bitcoin which is now indicated as a safe haven and used to try to neutralize the hyperinflation processes that afflict some traditional coins, such as the Argentine peso or the Venezuelan bolivar. A success symbolized by the fact that even a giant like Facebook has decided to launch its cryptocurrency, Pound, triggering a real war on the part of regulators and governments of every part of the globe.

EtoroX's move

Among the operators who have been moving in this direction for some time, there is also eToro, the broker famous for copy trading, which has also extended its offer to digital assets, starting naturally from the most famous and making additions from time to time. The last of which is the one concerning Dash, added together with seven stablecoins to the EToroX platform. This was announced by a press release published on November 12, which intended to clarify that users of the platform will be able to access stablecoins anchored to the Turkish lira (TRYX), the Polish zloty (PLNX), the South African rand (ZARX) and the Hong Kong dollar (HKDX), in addition to the famous tokens based on the US dollar and Tether (USDT). The bouquet of digital products, with these new additions, rises accordingly to 26.

There is also a gold-based token

As mentioned at the beginning, more and more people equate Bitcoin to a safe haven asset. An orientation that prompted EtoroX to propose a new pair that allows its users to trade tokenized gold (GOLDX) for Bitcoin (BTC). It was Doron Rosenbaum, CEO of eToroX, who said that this is a necessary move, in light of the new perception that many investors have towards the most famous cryptocurrency.

What are the advantages of investing in cryptocurrencies with online brokers?

It should be remembered how the cryptocurrency trading offered by platforms like EtoroX moves on different tracks than those on which direct purchase flows. In this case, in fact, it is not necessary to physically hold the asset, with all that may entail having to keep it out of the reach of any malicious people, but you can opt for CFDs, acronym for Contracts for Difference. These are derivative instruments that allow you to invest in an underlying without having direct ownership.
The advantage, besides that of not having to keep tokens with a wallet electronic, consists in the fact that you can earn both from an appreciation of the chosen virtual currency, and in the reverse case, provided you can predict its behavior on the markets during the period in which the contract will be operative. Of course, it is necessary to draw up a reliable forecast, using the tools of fundamental analysis for this purpose, but in this way those who do it can concentrate on the financial part, leaving out a series of technical aspects that can finally divert them from the priority objective, which is to guess the trend, in order to earn from your investment. An increasingly popular modus operandi also in Italy.

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Dario Marchetti

I have a degree in Literature and Philosophy from the Sapienza University of Rome, with a thesis on the eastern border of Italy at the end of the First World War. I have collaborated with several sites on many issues and led the work group that published the official CD-Rom of the SS Lazio "History of a love" and "Photographic History of Magical Rome".
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