The financial investment platform, known for making investment into stocks easier for us regular people without years of experience with their social trading features and copy portfolio products are bullish on cryptocurrencies. Where in a recent survey created by eToro it shows that:
eToro are bullish on cryptocurrencies
In a recent survey done by eToro which shows that over 40% of “millennial online traders” appear to have “less faith” in the performance of the traditional stock market – when compared to the digital asset market.
- Almost half of Millennial online traders have more trust in crypto exchanges than the U.S. stock market
- Approximately 70% of millennials participating in eToro’s poll that were not trading crypto said they would start if more institutions began providing the option to invest in digital assets
Guy Hirsch, eToro’s managing director:
“We’re seeing the beginning of a generational shift in trust from traditional stock exchanges to crypto exchanges. At the heart of this change are the asset classes themselves. Younger investors’ experience with the stock market has seen a great deal of loss of trust, with the fall of Lehman Brothers because of irresponsible practices followed by the worst recession since the Great Depression.”
We are lagging behind the technology
The UK Managing Director for eToro Iqbal V. Gandham questions the way cryptocurrencies are today measured.
“Why should we measure cryptocurrencies with the same yardstick used for traditional payment and currency systems”
The idea that to solely measure the success of crypto with how many people are paying for their coffees with Bitcoin is old, and poor. Iqbal writes in the report that we need to evolve our methods as cryptocurrencies are an evolution of current and previous payment and financial instruments. So by using this old way of measuring the success and potency of digital currencies we are showing ourselves to be lagging behind technology.
There is not just one form of cryptocurrency
At first there was only Bitcoin. Many came along to follow (copy) the original cryptocurrency. But since then many more has come. And there are now thousands of different cryptocurrencies around the world. Many will fall of course. But they are not all like Bitcoin. Or as it was originally intended. To be a peer-to-peer currency. Now with the help of Ethereum the rise of smart contract coins and platforms are here. And with that comes and endless amount of opportunities for all types of use cases. Many are found in the supply chain industry, where leading blockchain startups like VeChain have quickly gained fame.
eToro is very much part of the new wave of global Fintech companies that has helped to change the scene of finance, banking and much more. It is the world’s leading social trading network, with millions of registered users and an array of innovative trading and investment tools. And they have taken the tools, the users and methods to crypto as well. Read our full review of eToro here
Find out more information about eToro on their website www.etoro.com
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Per Englund – Founder of Go CryptoWise a cryptocurrency and tech fan that wants to see better and smarter products and services that makes our lives better and easier