Some have predicted the rise of Bitcoin but few are the number of people who have invested. Before, the concept was a little vague, and sometimes it still seems to be. You want to invest in crypto but the question remains: Which cryptocurrency to buy in 2020? Discover our ranking.
Which cryptocurrency to buy in 2020 ?
In order to avoid any misunderstanding, we would like to point out that this article is in no way an investment recommendation as to which cryptocurrency to buy in 2020. Our primary purpose is information only.
In order for each person to act in conscience and knowledge of the facts, we would like to warn you of the possible risks associated with investing in cryptocurrency. First, crypto trading is not supervised by any European regulatory framework. Also, crypto fluctuations can be considerable and not adapted according to investors. Take the example of the considerable decline in Bitcoin at the end of 2018.
We have compiled a list of the 7 crypto currencies that look promising for the current year. This ranking is based on the reliability of their project. Be careful, because many of the cryptos that appear on the market are also scams. Get information from the right sites, including the Marianne2 site is a good reference to help you choose which cryptocurrency to buy and where to buy it.
It is the perfect platform for beginners, its interface and the use is easy to learn. The platform is totally secure. Etoro is number 1 for social trading worldwide with a wide range of crypto currencies.
With a minimum deposit of only $10, conditions that are much less demanding than the competitors (min. 200€ deposit). IQ Option makes trading more accessible. Also, IQ Option is the ideal platform to find crypto-currencies since it refers to many of them.
Available in 32 countries, you can buy Bitcoin, Ethereum and Litecoin on this platform. Payment services are credit card, debit card and bank transfer. This platform is recognized for the largest Bitcoin exchanges in the world.
It is one of the oldest crypto stock exchanges in the BlockChain. Particularly appreciated by the French, the platform is very popular among intermediate and advanced traders. Kraken offers many high-volume crypto currencies.
Top 7 best crypto currencies 2020 :
Ethereum / Ether (ETH)
Second largest market capitalization, Ether quickly established itself on the crypto market. This crypto allows to build any decentralized applications (Dapps) by issuing smart contracts. Ether has also enabled the creation of dozens of new innovative cryptos. At high speed, Ether is becoming the preferred universal crypto for exchange sites.
Binance Coin (BNB)
The Binance Coin comes from the Binance cryptocurrency exchange platform. A platform that has quickly become the leader in crypto-active trading sites. The NBB is used to buy or sell any other cryptocurrency on the site. Its first advantage is to cut transaction costs in half. You have more advantage to trade with NBB than with another crypto such as Bitcoin or Ether.
Stellar’s initial project is to offer the international community an open-source, easy-to-access financial network that allows for fast (in only 3 seconds) and cost-effective monetary exchanges (for only 0.00001 lumens per transaction).
Stellar appeared on our podium thanks to its dazzling rise in 2017, the crypto achieved an increase of 28,0000%. Stellar also seduced the giant IBM, which considers it to be a competitor to the Ripple.
Bitcoin is the first crypto-currency to have been talked about. Its success has encouraged the creation of new cryptos on the market. It allows the electronic exchange of value from one person to another without any financial institution being the intermediary. Despite a recent drop, Bitcoin remains the market benchmark, just like gold for fiduciary currencies.
Product traceability is the main objective of the VeChain. Enable users to obtain detailed information on the products they purchase through complete transparency of the product life cycle. The manufacturer creates, collects and shares all data directly with users. For the moment, the VeChain is not available on all trading platforms. There is a collaboration with BMW and LVMH.
The Ripple enables secure global payment transactions for financial institutions and banks. The advantage is that you are not required to make transactions in XRP since it also supports fiduciary currencies such as the Euro or the Dollar. We are talking about a new alternative to the SWIFT model.
Which cryptocurrency to buy in 2020? Is IOTA on the list? Well, according to us, that’s a yes. IOTA takes its name from the “Internet of Things”, the Internet of Things. It is a solution to facilitate transactions between connected objects for free, secure and unlimited transactions. Unlike other cryptos, it is not based on BlockChain but on the Tangle network.
When we hear the term “crypto money”, we often associate it with Bitcoin. After starting in 2009 and becoming more or less a “known” name in 2013, Bitcoin has finally established itself as the most popular cryptocurrency on the market. However, and what most of these people don’t know is that Dogecoin appeared shortly after the Bitcoin Revolution, and was officially introduced in late 2013 and is the invention of a man named Jackson Palmer, although he requested the help of a programmer named Billy Markus from Oregon. Palmer and Markus wanted to create a crypto-currency a bit like Bitcoin, but with the possibility of reaching everyone rather than a select (and privileged?) group of people. in the same spirit, they wanted to create a crypto-currency known to be more than the vehicle by which people get their hands on illegal drugs and weapons. To give an overview, Bitcoin was first considered by many to be a negative technology due to its use on SilkRoad, a website where many illegal items were bought and sold via Bitcoin. It didn’t take long for the Dogecoin dream to become a reality, and the rest is history.
How it works: for what purposes can DogeCoin (DOGE) be purchased?
The best thing about Dogecoin? Even a little knowledge of Bitcoin will help you understand how the currency works, and when it comes to the actual use of Dogecoin, it can be used as if you were using US Dollars or any other type of currency. The main difference is that Dogecoins only exist online, and can never be held or exchanged as paper money. Although all Dogecoin exchanges are public information, the names behind each transaction are known only to the people involved. This way, while you may be able to see that a Dogecoin transaction has occurred, and you can verify the amount of Dogecoin exchanged, you will have no way of knowing who was at the end of these transactions. Just like Bitcoin
Our review: should we buy DogeCoin (DOGE)?
Like any other cryptocurrency, Dogecoin is sensitive to extreme volatility and speculation, but that said, Dogecoin experienced substantial growth in 2017. Its market capitalization reached $2 billion in January 2018, and the meme-based token began to attract media attention like never before. Although Dogecoin has a peer-to-peer payment use case and a dynamic and active community, there is not enough information for you to claim whether you should invest in Dogecoin. It is another crypto currency that wants to establish itself as a means of payment. We don’t see why she would triumph over Bitcoin. It’s hard to see a massive adoption of a token based on a joke.However, if there is only one lesson we can learn from the Dogecoin project, it is the importance of building a community. The token has long been rejected as a joke by the cryptocurrency elite, but Dogecoin is far from obsolete thanks to its strong community of people who simply want to see the coin succeed and gain value. Joking or not, Dogecoin was able to accomplish something that few tokens can do. It has been in existence for almost 5 years, which evokes a certain respect. A Dogecoin analysis also adds color to the current crypto-currency landscape. This simple token does not claim to be anything other than what it is: a peer-to-peer digital currency. Among the thousands of pages of white papers, complex theories and pedantic explanations of the cryptomonnaie market, Dogecoin is a rarity – and his community loves him, so we don’t necessarily advise investing, but we keep a certain respect for this cryptomonnaie
Ardor is a platform that offers blockchains as a service. This is called a “Blockchain-as-a-Service” platform. Creating a “blockchain-as-a-service” model is one thing, but making it attractive to companies is another. To do this, the Ardor team has developed an interesting approach from a technical point of view. First, Ardour uses a unique parent-child architecture that allows companies to build their own products and services using the concept of children’s channels. At the same time, these products will still benefit from the security provided by Ardor’s parent chain. The use of side chains (sidechains) has become a subject of great interest in the Blockchain world recently. This is indeed very relevant. In addition, Ardor’s “blockchain-as-a-service” aims to be as energy efficient as possible. Even if the exploitation of a blockchain is not at the same level as the extraction of cryptocurrency, there are energy needs to be taken into account. With Ardor, mining competition is completely eliminated and consensus is reached through a distributed system. Running a network node to secure the Ardor infrastructure requires very little electricity, and the equipment used to do so does not need to be too expensive either. Ardor also aims to reduce blockchain bloat as much as possible. This is where side chains are useful. Children’s transactions can be removed from the blockchain once they are confirmed. This allows the Ardor blockchain to be both light and efficient. The use of sidechain chains for this specific purpose makes a lot of sense, as there will be no unnecessary information on the parent chain.
As is always the case with any blockchain solution, Ardor will remain stable or drop depending on its reliability. This platform was built on the NXT infrastructure. Cryptocurrency enthusiasts know NXT because it has been used all over the world for the past four years. In addition, Ardor was developed using Java, which is one of the most popular programming languages in the world today. The development of commercial applications becomes much easier when the development language is already familiar to most coders.
How it works: for what purposes can we buy Ardor (ARDR)?
Thanks to NXT, a crypto-currency with its program code, the company can offer what are called “children’s channels” (as opposed to parent channels). Unlike Bitcoin, all parts exist via NXT from the beginning (NXT uses the forging principle). Ardor Coin (ARDR) is the cryptocurrency associated with the platform. Users who have “solved” a block through forging receive a transaction fee. The chains collect transaction fees and pay them through the Ardor Coin at the main blockchain. This also applies to Childchain tokens: they are first collected on the Childchain and then paid to the main chain (in Ardor Coin). All Childchains are connected to the Ardor main chain. On the one hand, the main channel processes all transactions of all children’s channels. Through the main chain, it is also possible to exchange ARDR transactions. However, other features are only available on child chains, as they would unnecessarily overload the main chain otherwise. This ensures the performance of the main chain. Ardor is developed by Jelurida, NXT’s main development team. Creating a child chain allows users to use Blockchain technology for their own business. This way, users can have their blockchain. They may hold and exchange assets on the latter.
Our review: should we buy Ardor (ARDR)?
At this stage, it is too early to say whether Ardour can succeed or not. It is true that the project has received a lot of attention recently. In addition, the native ARDR token has appreciated in value, which seems to confirm that there is at least some interest in what this project has to offer. Some interesting developments are still on the agenda, including the launch of additional children’s channels, support for specific types of transactions, etc. The project is very promising but we are waiting to know more before positioning ourselves!
BitShares is designed to be fast, efficient and scalable… to manage the tens of thousands of transactions per second that go with a decentralized exchange. To understand the assets that are exchanged on the decentralized BitShares exchange, it is necessary to understand the stable assets, called smartcoin, and the digital assets, called user-issued assets. In the Blockchain world, it is important to reduce transaction costs, increase transaction speed and make the system scalable to compete with existing financial institutions. BitShares is designed with these constraints in mind, eliminating the Bitcoin‘s “Proof-Of-Work” algorithm and replacing it with DPoS (Delegated Proof of Stake), which is cheaper and more efficient. This allows BitShares to have almost instant transactions with extremely low fees, and an infrastructure that adapts to the size of Visa / PayPal… and even beyond.
How it works: for which uses can I buy Bitshares (BTS)?
Currently, crypto-currencies such as Bitcoin are traded in large markets, according to the traditional logic of centralization, with a single point of failure for corruption, information theft, coercion, theft, fraud, etc. That’s a problem. However, one solution is to use the technology behind the Bitcoin, the blockchain, to create decentralized exchanges. BitShares has been partially designed with this in mind, hence the importance given to speed, efficiency and scale. A project to compete with Wall Street and the world’s major stock exchanges?
With BitShares, it is possible to exchange many types of assets in addition to the native BTS. In particular, there are so-called Smartcoins and user-created assets. Smartcoins are parts like bitUSD, bitGOLD and bitCNY that follow the value of their counterparts, so that 1 bitUSD today will be worth 1 USD per week, month or year from now on. With Smartcoins, people can enjoy the benefits of the blockchain payment network without being exposed to the volatility associated with its disruptive and nascent stage of development. Not bad, is it? The resources issued by users are, as its name suggests, assets issued by the user, which means that everyone can issue their own assets. The issuer of the asset may define different levels of control of the asset, including not having control at all. Assets can be used for an incredible variety of things, including crowdfunding with fairness, using them for property rights, or even using them as VIP tickets or just fan tokens.
Our review: should we buy Bitshares (BTS)?
BitShares is one of the leading Altcoins with exemplary founding thinking and architecture. To summarize the project: BitShares is a decentralized network, protocol and industrial quality platform – based on a DPoS (Delegated Proof of Stake) and Graphene (Steemit backend engine) algorithm with the potential to handle more than 100,000 transactions per second. BitShares offers a variety of decentralized financial services – SmartCoins bitAtets issuance, including market-indexed assets (MPAs) and other encrypted pairs from recognized commonplace assets (e.g. Gold, Oil, S&P & P 500). Despite all these risks and challenges, the team perseveres, grows and continually overcomes problems. The interfaces they have put in place are also very user-friendly, which undoubtedly encourages the adoption of BTS, and as the platform matures and proves its value, it will generate interest from FinTech and financial services players. Thus, we are rather optimistic about the future value of the BTS.
Cardano houses the Ada cryptocurrency, which can be used to send and receive digital funds. This digital currency may represent the future of money, making possible fast and direct transfers guaranteed by the use of cryptography. Cardano is more than just a cryptocurrency, however, it is a technological platform that will be able to run financial applications currently used every day by individuals, organizations and governments around the world. The platform is built in layers, which gives the system the flexibility to be more easily maintained and to allow upgrades through simple updates (or “soft work” as it is called in the industry). Cardano also runs decentralized applications, or dapps, services not controlled by a single party, but operating instead on a blockchain. It is the first blockchain project to be developed from a scientific philosophy, and the only one to be designed and built by a global team of leading academics and engineers. It is essential that the technology be secure, flexible and scalable to be used by several million users. As a result, considerable thought and care on the part of some of the greatest experts in their fields has been devoted to the project and informed design decisions. Scientific rigour applied to critical areas such as aeronautics and banking has finally been introduced in the field of crypto-currencies. We believe that this is the first time this has been done, through the Cardano project.
A major innovation from Cardano: the project will balance the needs of users with those of regulators, while combining privacy with regulation. Cardano’s vision is that his new style of “regulated computing” will bring greater financial inclusion (by providing open access to equitable financial services for all).
How it works: for which uses can Cardano (ADA) be purchased?
Cardano is developed in two “layers” that separate the general ledger from the account values and the reason why the values are moved from one account to another. This separation allows intelligent contracts written on the platform to be more flexible. Companies can use this separation to adapt the design, confidentiality and execution of each contract to better suit their specific use cases. First, there is the Cardano Settlement Layer (CSL). The CSL acts as a balance book and is the first layer of the platform. Created as an improvement of Bitcoin, this layer is a crypto-currency built from the white paper on Ouroboros written by Aggelos Kiayias. CSL uses a proof-of-stake consensus algorithm to generate new blocks and confirm transactions. There is also the Cardano calculation layer (CCL). The CCL is the second layer of the Cardano platform and contains information on why transactions take place. Because the calculation layer is detached from the CSL, different CCL users can create different rules when evaluating transactions. For example, you can create an authorized repository that excludes all transactions that do not include AML / KYC data, which will become more important as blockchain regulation continues to increase.
Cardano’s team has created a new programming language to use to develop intelligent contracts: CCL-Plutus. CCL also supports Solidarity, the language behind Ethereum smart contracts, for low assurance applications on the platform. To help developers, Cardano will also include a Plutus code reference library available for App projects. Beyond that, the team created a set of tools to verify the code and improve code assurance. In addition, Cardano will support sidechains on the basis of a new Kiayias, Miller and Zindros (KMZ) protocol involving proof of work evidence. The KMZ Sidechain protocol allows funds to move safely from the CSL to any CCL or blockchain that also uses the protocol. Ledgers that meet certain regulatory requirements will be able to interact with CSL without having to share data that must remain private using KMZ sidechains. Daedalus is an open-source portfolio created by the Cardano team. Although this portfolio is closely linked to Cardano, the team plans to significantly expand its functionality. Daedalus will be, in the long term, a multi-currency portfolio where you can freely trade between the supported currencies. The portfolio will begin to expand support with Bitcoin and Ethereum Classic. The portfolio will also include an app store containing applications created by the Daedalus community. Daedalus is currently only available on the Web, but will soon be available on iOS and Android.
Our review: should we buy Cardano (ADA)?
Bitcoin may have shown Blockchain technology to the rest of the world, but there are serious doubts as to whether it will represent the ideal future of currency or payments. The Ethereum network has made improvements over the Bitcoin blockchain, but it now faces its own problems… as it evolves. Cardano is developed as an ideal blockchain, having the advantage of learning from the obstacles encountered by its predecessors. However, the network is still in development mode, which means that the token can only act as a simple crypto-currency. The next major update in the second quarter of 2018 will release the proof of participation algorithm, chain governance structure and some other key features. Additional updates and versions will be required to achieve the ultimate vision of the third generation chain, but the project remains highly promising. A concretization of the roadmap could explode Cardano’s value.
On August 1, 2017, Bitcoin Cash (BCC) was born from a range in the BTC money ledger, ending (for the time being) the long debate on scaling up the size of Bitcoin blocks. “At 18:24:41 UTC, the ViaBTC pool produced a 1.9 MB BCC block, which was not valid on the existing Bitcoin network. This marked a clean break and the birth of Bitcoin Cash,” said the official Bitcoin Cash website.
How it works: for what purposes can Bitcoin Cash (BCH) be purchased?
Bitcoin Cash is defined as “a peer-to-peer electronic treasury for the Internet” and “the continuation of the Bitcoin project as a peer-to-peer digital cash. This is a range of the Bitcoin Blockchain Registry, with improved consensus rules that allow it to grow and evolve. “
Bitcoin Cash can be considered a “child” emanation of Bitcoin because it is cared for by a smaller community. “All Bitcoin holders in Block 478,558 now own Bitcoin Cash. All Bitcoiners are invited to join the Bitcoin Cash community as we move forward in creating a healthy currency that is accessible to the world. “said the founding team in particular
Since Bitcoin Cash was created following a division in the blockchain, each Bitcoiner obtains Bitcoin Cash equal to the quantity of Bitcoin held at the time of the “forking” block. In cases where Bitcoins have been held through an exchange, you must verify with your exchange your Bitcoin cash holdings. The Bitcoin Cash digital currency will use the BCC ticker and is currently supported by the exchanges listed below.
Against the backdrop of this fork, we had the problem with Bitcoin’s existing code and its capacity of 1 MB of data per block, or about 3 transactions per second. The Bitcoin community has been debating for more than a year to find a “consensual” solution to this problem. An update called SegWit is currently being implemented and could solve this problem. The Coinbase exchange just set it up. However, Bitcoin Cash does not agree with Segwit’s philosophy and has announced its intention to activate the hard fork on August 1, 2017. It should also be noted that Bitcoin Cash increases the block size to 8MB.
The demerger has brought some interesting changes to the cryptomonnaise market. On August 2, while Bitcoin (BTC) maintained its price stability around USD 2,700, its overall market capitalization was down to 44.7%. Ethereum (ETH) has shown interest by propelling it well above $220 levels. Bitcoin Cash (BCC) has surpassed Ripple to become the third largest cryptocurrency, trading at levels around $400 per BCC. The movement of Bitcoin Cash prices has become more dynamic in the coming hours. At around 10:15 am, Bitcoin Cash was trading at around $700 with its market capitalization rising to over $11 billion, or nearly 11% of the total market capitalization. Bitcoin’s price still fluctuated between $2,700 and $2,750, with a dominant position in market capitalization of 43.3%. The community believed for a moment that Bitcoin’s little brother might well overtake him. However, this is still not the case.
Our review: should we buy Bitcoin Cash (BCH)?
This development of Bitcoin Cash could mean a number of important things for the future of cryptocurrency. However, the situation is really difficult to predict. In a blog article on the future of crypto currencies and their different use cases, Professor Aswath Damordan said that the future of crypto currency as a currency, as opposed to a speculative asset (as it is so often treated), depends on crypto-currency developers. The latter must think of their technology as a “means of transaction” and therefore “act accordingly”. These two movements seem to aim to improve cryptocurrency technology so that it becomes a real means of exchange.
The improvement of cryptocurrency as a means of transaction will depend on maintaining the high level of security that Bitcoin has always provided, while improving transaction speeds. Bitcoin will continue to be highly secure, but the degree of improvement in its transaction speeds is not clear. Bitcoin Cash, once its difficulty is adjusted, could process transactions in two minutes and 30 seconds. The security of the Bitcoin Cash blockchain, however, is not clear.
This will also depend on how minors and users view the currency. If Bitcoin really undermines the decentralized nature of the network, and the democratic possibilities of blockchain technology, people can look elsewhere for a cryptocurrency with a more exciting potential. And it is probably at this point that we will have to closely monitor Bitcoin Cash (BCC).
Ripple is actually the name of the company responsible for managing global payments and transfers made using XRP, although most people use the term to refer to the cryptocurrency itself. Ripple’s system aims to free people from the various issues that financial networks create with different fee structures, currency exchanges and processing times. Bitcoin also aims to do this with blockchain technology, but Ripple goes even further and uses completely different technologies. Thus, it stands out as a reliable competitor against the king of crypto-currencies. Instead of working on a public blockchain, like Bitcoin, Ripple works with a network of nodes that are actually participating banks and financial institutions. In doing so, Ripple’s blockchain is not public; it operates on a completely internal register called “corporate blockchain”. An important difference to note because this attitude is much less centralized and less cyberpunk. This is part of what made Ripple so popular with investors and large corporations. The first investors were Pantera Capital, Google Ventures, IDG Capital Partners and Santander InnoVentures.
How it works: for what purposes can Ripple (XRP) be purchased?
So let’s start with the transaction network known as Ripple. So, the Ripple protocol is based on a technology similar to blockchain but not completely identical. It requires no “mining” and is based on a consensus network… instead of being consumer-oriented, unlike Bitcoin technology.
It’s not for people like you and me. Indeed, Ripple is exclusively used by large institutions such as banks. Ripple’s idea is to allow banks to transfer any type of asset, whether it is currency, USD, euros, gold or any other asset such as airline tickets. You can transfer this between other institutions, and instantly. Also, if you have already purchased Bitcoin with a bank transfer, you will know how long it is and how much friction it is full of. Indeed, you must contact your bank and send the transaction to a bank account, which can take up to two to three days and there are many transaction fees for both sender and recipient. Ripple will revolutionize this by providing near-instant and less than second (in terms of speed) transactions for institutions such as banks. It has already been adopted by a number of major banks and the company’s partnerships are quite prestigious.
So now that we’ve explained what the Ripple transaction protocol is, let’s move on to Ripple XRP. XRP is actually published by Ripple Labs and is a form of crypto-currency that can be exchanged and is not “mined” (unlike Bitcoin BTC or Ethereum ETH). So there is a finite number of tokens and that amount is actually issued by the company behind Ripple called Ripple Labs. Currently, XRP is freely negotiable on many exchanges (you will find the list below).
XRP itself has no underlying assets or related values, for example. It is not related to the USD or gold. On the contrary, it can be used to act as an intermediate currency in institutions. It has a huge advantage in that transaction costs are very, very low (unlike Bitcoin, which now reaches 1.5 usd in transaction costs).
Our review: should we buy Ripple (XRP)?
First of all, it should be noted that a significant number of financial institutions have already started working with XRP. “We have reached the point where a significant number of these banks are moving into commercial production,” said former Ripple CEO and current President Chris Larsen in Coindesk in a 2016 interview on the currency. “What is important here is that the use goes beyond experimentation and actually deploys on Ripple’s blockchain.” Last November, it was announced that American Express and Santander would team up with Ripple Labs to experience much faster cross-border payments by routing transactions through Ripple’s platform. These two institutions represent only a fraction of the companies that have already (publicly) signed a partnership with Ripple. Deloitte, Mitsubishi Financial Group, UBS, Royal Bank of Canada, Western Union and Accenture have partnered with the platform over the past two years. These names most likely mean something to you. It is quite impressive to see that a crypto currency has succeeded in signing such prestigious partnerships.
While the validation of XRP by major banks definitely puts it at the top of the other currencies, it is also one of the reasons why people may hesitate to invest in XRP. The utopian roots of the creation of the first crypto currencies support decentralization and the abolition of an intermediary. An ideology that wants to put an end to the “Big Brother” and the domination of the banks. Many existing crypto investors are wary of Ripple’s attachment to these large institutions and the placement of the Ripple platform as XRP’s central bank. Then there is the fact that researchers at Purdue University have discovered security holes in Ripple’s platform that could put 50,000 portfolios at risk. However, these system flaws have not prevented angel investors like Google from getting involved, so it is up to you to decide if you want to take the risk.
It is difficult to compare eToro to a traditional broker because its offer is so unique. For example, IG will be more competitive with its low-cost spreads and commissions, but it will focus more on professionals. Beginners will be able to learn more easily and quickly with the many features offered by eToro but also thanks to a community of more than 4.5 million traders. By choosing a beginner or novice, we elected eToro broker as number 1 in our ranking.
CFDs are complex instruments and are associated with a high risk of losing money due to leverage. 65% of retail investors’ accounts lose money when trading CFDs with these suppliers. You should ask yourself if you understand how CFDs work and if you can afford to take the significant risk of losing your money.
Launched in 2007, eToro is well known in the online trading market. The broker has more than 4.5 million traders in 152 countries around the world. One of the first reasons is that it is a secure broker, certified by all stock exchange regulators.
eToro is an online broker that offers interested traders the opportunity to trade equities, currencies, indices and commodities as CFDs. The broker is also known for its positioning in social trading, where it is the undisputed leader.
An experienced and recognized broker in France
eToro is recognised in Germany by BaFin, in Italy by CONSOB, in Cyprus by CySEC, in the United Kingdom by FSA and in France by the Banque de France (ACPR Banque de France). The broker is well present in Regafi. In the event of a dispute, you can always go through the ACPR Banque de France for mediation.
In view of the above points, this Forex and CFD broker is necessarily in compliance with the European MiFID directive and thus offers investors a secure and trusted trading platform, as well as segregated accounts.
The new eToro online trading platform
The new eToro social trading platform is already proving very popular with traders. Instead of offering only currencies, commodities, indices and equities (CFDs), eToro allows investors to connect directly to more than 5 million other traders in more than 170 countries. Traders can set up their account to automatically copy Popular Investors trades and ask questions, initiate discussions and share strategies on online forums. Popular Investors with copiers receive monthly payments in addition to their trading income and can even earn a percentage of assets under management!
Trading Tools and Live Newsfeeds on the new eToro
The new eToro platform offers exceptional features that revolutionize the trading experience. Traders can create customized Watchlists to monitor the performance of the assets they are interested in, manage their personal portfolio and open trades from all screens of the trading platform. It is also possible to switch from technical analysis to fundamental analysis in one click, with live newsfeeds and more. The platform is extremely sophisticated, allowing professional-level trading, while being designed for a truly user-friendly experience and easy navigation.
New eToro Mobile Trading
Rather than trying to adapt existing platforms for mobile trading, eToro started from scratch to create its new platform. They have invested considerable time and resources to create a trading platform that is compatible with all mobile devices and works perfectly on smaller screens. The free application is available on both Android and iOS and can be easily installed on all mobile phones and tablets. Traders enjoy a similar level of security as a bank when making deposits and withdrawals and can trade anywhere in the world (depending on their network coverage).
eToro offers its traders a wide range of currencies, commodities, equities and indices (CFDs). eToro has recently updated its stock list and gives traders quick access to all their favorite brands and the most popular products traded on stock markets around the world. Traders can display actions on their screens using either the company name or a symbol. Also, eToro is constantly adding new assets to the trading platform.
Account management and customer service
Opening an account with eToro is quick and easy. Traders can use a free demo account with virtual money or deposit only $200 to start real trading activity. There is also a very attractive program for Premium Investors (do not hesitate to contact us directly for more information). In addition, eToro offers customer service (available in 8 languages including Chinese, Russian and Arabic), with extremely friendly and competent support staff. Unlike some brokers, eToro has well-trained employees who fully understand the trading platform and eToro’s specific systems. Deposits and withdrawals at eToro are fast and efficient and there is a wide range of payment methods available. Traders can make deposits using all major credit cards, Skrill, PayPal, Webmoney, Neteller and others. The account verification process is simple. eToro is also a fully regulated broker (FCA, ASIC and CySEC), which guarantees traders a high level of protection and transparency.
Should I trade at eToro?
The new eToro offers a unique social trading experience, supported by a first-class platform and excellent customer service.
In addition, eToro frequently offers fantastic promotions. Anyone who wants to invest responsibly and who wants to know how the financial markets work can connect with other traders, discuss the financial markets and copy their investments.
CopyPortfolio: Social trading within everyone’s reach
One of eToro’s main assets is to enable everyone to become both a leader and a follower in trading. It is possible to use the platform’s various investment and social trading tools, such as CopyTrader, which allows clients to automate their trading by dedicating part of their funds to reproducing another investor’s activity and copying its movements in real time. However, before you can make the most of all the features of eToro and understand why it is one of the first social trading networks, you should follow a few simple rules to build your own Copy Portfolio.
Copy Trading’s functionality is characterized by its great simplicity and will allow you to achieve your financial objectives more efficiently according to your budget and risk appetite. However, for novice traders, it is not necessarily obvious who to copy and that is why certain principles must be conscientiously followed to build a portfolio that meets their expectations. First of all, it is necessary to study the person copied as any other investment (funds, indices or securities). In other words, it will be wise to turn to a trader applying a similar strategy to his own, analysing in particular his profile and his various comments.
In order to identify the trader with the right profile, eToro has a feature that allows you to find the right person by defining the parameters of your choice. To do this, simply click on the tab concerned and present in the platform’s function bar. For successful research, it is imperative that the client takes the time to define his investment objectives and investor profile.
Another parameter to take into account when building your Copy Portfolio is the assessment and management of the level of risk associated with it. Indeed, when using eToro’s Copy Trading function, the client must be aware that by copying another investor, his portfolio and the level of risk to which he is exposed will inevitably be influenced by that of the copied trader. In other words, copying another trader will have an impact on his portfolio that will have to be taken into account.
One of the other fundamentals for building a Copy Portfolio (in detail) adapted to your investor profile is to diversify your investments by not hesitating to turn to markets that are generally outside your usual trading strategy. For example, for a client who is already copying a trader who is a commodity trader, it may be wise to look for another person to copy who is more oriented towards indices or equities. In any case, you will need to be patient and not hesitate to solicit the copied trader to find out his commercial forecasts on the markets concerned.
Training at eToro
eToro offers detailed training with the basics and steps to a more complex level of analysis and graphing studies. The broker also offers challenges to newcomers to allow them to test their new knowledge and earn bonuses.
The eToro Trading Academy offers videos, webinars and eCourses (interactive courses) from beginner to advanced. eToro also offers a blog to keep up with all the latest market news and eToro news. To benefit from eToro’s resources, you will first have to register on the site.
eToro also offers a demo trading platform. This will allow you to familiarize yourself with all the broker’s tools.
We have more than 100 assets available on eToro including more than 30 Forex pairs, 13 indices, 30 stocks, a majority of which come from digital and technological companies (we find the GAFA players), 7 commodities and metals such as oil or gold and about 30 ETFs. Traders are advised to use the site’s analysis tools.
Looking at the list of assets, eToro is clearly focused on digital technologies and more specifically on listed web companies. He also proposes to trade the BitCoin currency which is not always available at forex brokers.
The broker has average spreads, so the EUR/USD is 3 pips. This score may change depending on market conditions. Selling and purchasing costs are also mentioned on the eToro website. It is up to you to consult and compare these tables with competitors on the assets that interest you.
It should be noted that the broker also offers a high leverage of x50 to x400. However, if you are a beginner, using a lever involves significant risks because if you can multiply the gains, you can also multiply the losses! Make sure you are well informed and that you can place stop or limit orders when using these levers.
Deposits and withdrawals
For the deposit, eToro only requires a minimum of $200.
eToro requests specific documents for your first withdrawals. Here is what you will need to prepare:
copy of an identity document
copy of a recent certificate of residence
In the case of a credit card withdrawal, the broker requests a copy on both sides of your card. On this point we advise you to contact eToro customer service and specify that you will not provide all the elements of your card (moreover this point is normally prohibited in your CB contract with your bank). We advise you to hide the numbers in the middle of your card and not to let the 3 numbers appear on the back.
Withdrawal requests are processed within 5 business days but the time may be a little longer depending on the method used. In the case of two withdrawals in less than 48 hours, eToro can combine them and reduce your fees!
For each withdrawal, eToro takes a $25 commission regardless of the amount, so it is strongly discouraged to make small withdrawals. Wait until you have accumulated several hundred dollars before withdrawing everything or part of it!
A community that recruits
eToro offers many promotions for its traders. Thus by recruiting for the broker or by being copied, he can benefit from offers in the form of bonuses (be sure to read the conditions carefully).
It is in the promotions that you will also find the information you need to become a “Popular Investor” or “Guru” and earn more. Finally, don’t hesitate to take a look at this section, eToro offers several different offers every month.
Our conclusion on online trading with eToro
Ideal for launching into Forex thanks to its platform, eToro has developed its social trading concept and CopyTrader to attract beginner and amateur traders. Concerning the alert points we advise you to pay attention to the use of the levers that remain tools for professionals.
eToro also takes commissions and fees for withdrawals, so don’t be surprised to see a different amount on your account. Finally, social trading is not a source of guaranteed earnings but will allow you to observe the trades of community members and learn more about online Forex trading.
For more information on Forex brokers, discover ETX Capital and its many advantages.
All trading involves risk. Risk only the capital that is likely to be lost. You will never lose more than the amount invested on each position. This is not an investment advice.
Cryptocurrencies are subject to significant price fluctuations and are therefore not suitable for all investors. Cryptocurrency trading is not supervised by any European regulatory framework.
CFDs are complex instruments and are associated with a high risk of losing money due to leverage. 66% of retail investors’ accounts lose money when trading CFDs with these suppliers. You should ask yourself if you understand how CFDs work and if you can afford to take the significant risk of losing your money.
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