Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
“Hi James, Interested in purchasing small parcels of Bitcoin, Ethereum and some other popular cryptocurrencies and would like your view on eToro as the trading platform. Is this a safe and viable option, what are the pros and cons, or are there better trading platforms for Australian investors?” - Regards, Charles S.
Hi Charles,
Bitcoin and its crypto friends are certainly gaining increasing interest from both retail and institutional clients alike. I haven’t used eToro personally so cannot vouch for it although it is a “legit” trading platform, it holds an ASIC licence and can legally operate in Australia. The alternative and most widely adopted method of playing Bitcoin by professional investors is the Grayscale Bitcoin Trust (GBTC US) which already has a market cap. of almost $US34bn.
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