What are cryptocurrency wallets?
A cryptocurrency wallet is one of the most important tools that every crypto trader needs. A wallet is a place where the coins can be stored safely, and only their owner will have access to them. Wallets can come in multiple forms, which include online platforms, hardware devices, and even apps for a smartphone.
eToro’s wallet is one of the best ones that can currently be found in the market, and it offers numerous features and advantages that a cryptocurrency investor can benefit from. While some wallets only serve as a storage space for cryptocurrencies, there are also those like eToro, that allow numerous other services.
What makes eToro wallet special?
eToro has been a big name in the crypto world, especially when it comes to crypto assets integration into the trading world. In fact, eToro supported Bitcoin purchases as far back as in 2013. Over time, eToro added numerous other digital assets to the list which, in turn, attracted new investors willing to trade said assets.
Since then, eToro’s goal was to assist in the development of the crypto world. As a result, it also launched its own cryptocurrency wallet, and for the first time in the crypto world’s short history, a wallet that allows transferring and storing assets emerged. The eToro wallet allows users to transfer their BTC from the exchange platform to the wallet directly. Not only that, but it also supports several other cryptos, like Litecoin, Ethereum, and Bitcoin Cash. However, eToro is already making plans to add new coins at some point in the future.
Furthermore, eToro wallet also allows transferring digital coins to other wallets, and even to offline (cold) storages. This is only one aspect of its numerous security features that protect users’ funds, such as two-factor authentication.
The wallet’s interface is rather intuitive, and using it is simply for newcomers and experienced traders alike. By simply entering user credentials, anyone can quickly log into their personal account and manage their coins in one of the multiple languages.
One problem that most users have with crypto wallets are their fees. While eToro does have certain fees, like any other wallet, they remain quite competitive. Not only that, but the company stated that they plan to keep them that way. Due to the fact that both, eToro and the blockchain platform have their own fees, there are actually two of them that users will have to pay. But, as mentioned, eToro is doing everything in its power to keep them as low as possible.
Other advantages
Considering how important crypto wallets are for trading, there are numerous ones out there, just waiting for users to come and make an account. However, another difference between those wallets and eToro wallet is the fact that eToro’s wallet has a very successful and reputable company behind it. The company that is known for being secure, reliable, and respectful toward its users, no less.
For a lot of investors, this was proof enough that the wallet will be functional and with no surprises regarding its functionality and safety. This is important since investors need to know that their funds are stored in a safe place, which is something that eToro can guarantee. The wallet is also easy to access, understand, and use, which makes it one of the best solutions currently available.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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