The novelty of cryptocurrency space means it can both be advantageous and disadvantageous to those who try to dip their fingers in these volatile waters. Many jumping in to join the bandwagon aren’t often technically and financially literate enough to make profitable decisions which results in falling victims to some scam or losing money simply because of bad decision making.
In order to make the learning curve much easier for amateur traders, eToro came up with the brilliant idea to design a platform where amateur investors could learn and copy from experienced traders. This wouldn’t only limit their risk but will enable them to learn the cryptocurrency investment tricks on their own.
Being the newest investment option, incoming investors usually steer clear from cryptocurrency world because of the fear of volatility and trust issues. To reduce the gap, eToro has offered a clever solution that has seen immense success in its first year. eToro copytrader review gives a positive impression about the platform while eToro review forum provides a way to carry out discussions.
Apart from allowing new cryptocurrency traders to follow what experienced ones are doing, eToro also enables the amateur traders to ask questions from them related to technical information and investment opportunities.
In an interview to Finance Magnates, eToro’s United Kingdom managing director said, in 2017, they on boarded more customers in a 24 hour period than they did in a whole year. This also sent eToro’s customer service into an avalanche of troubles as the team wasn’t ready to deal with the customers at that scale. As a result, number of tickets kept accumulating and it became a daunting task to tackle the issue. That’s why eToro reviews on Forex Peace Army paint a negative picture of the service.
However, in subsequent months, eToro team has been able to control the situation. The managing director said,
“We’re planning for scalability, we’re firmly behind cryptocurrencies… we don’t believe that this growth is going to stop in 2018. So, we’ve scaled up our operation teams–whether that’s for onboarding new customers, or supporting existing customers, or directly supporting individuals who want to withdraw their money.”
With this amalgam of education and trading, eToro is uniquely positioned as far as competitive advantage is concerned and can exploit it to gain more traders in 2018 which is going to be a year of cryptocurrencies.