Crypto Buyers Face ‘Possible Limitations’ on eToro This Weekend – CoinDesk

CoinDesk

Multi-asset brokerage eToro has issued a warning to users looking to buy bitcoin and other cryptocurrencies over the coming weekend.

According to an email sent to customers and as reported by Bloomberg on Wednesday, the Israel-based company said customers could face “possible limitations” due to “challenges” in the platform’s ability to support buy orders.

How To Get Free Crypto  

The company said they may impose limitations on customers looking to purchase cryptocurrency assets due to complications arising from a lack of market liquidity.

The brokerage may set a temporary maximum exposure amount per cryptocurrency asset per client, as well as temporarily suspending the ability to place new buy orders, according to a copy of the letter posted online.

Spreads on cryptocurrency assets may also be wider than usual resulting from “unprecedented conditions in the market” as demand surges from newcomers for digital assets.

Users on the platform have skyrocketed in recent weeks, with eToro opening 380,000 new accounts. Its cryptocurrency trading volume is 25 times higher than January 2020, per Bloomberg’s reporting.

Coinbase Banner  

The disruption to services has also filtered over to traders regarding leveraged cryptocurrency positions who called foul on Sunday when their positions were abruptly closed due to “extreme market volatility.”

As such, customers are now being warned that the brokerage platform may make further changes to their cryptocurrency offerings “at very short notice.”

CoinDesk reached out to eToro, but did not get a response by press time.

Disclosure

Go to Source
Author: Sebastian Sinclair


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.