The digital coin everyone is talking about has arrived at eToro – Bitcoin is finally here for you to invest in!
Bitcoin is now officially available for trading through the eToro OpenBook.
What is Bitcoin?
It’s entirely possible that this is the first time you’ve ever heard about Bitcoin. In that case here are a few facts about the world’s first digital currency.
Launched in 2009 by creator Satoshi Nakamoto, Bitcoin is a peer-to-peer currency that is not regulated by any central authority. Bitcoins are bits of code which is encrypted to ensure that each Bitcoin is unique and is only owned by one person at a time.
Just as currency is minted, Bitcoins too have to be created. This is done through a process called “mining”. Every computer can join the Bitcoin mining network and become a “miner”, which involves solving mathematical problems in order to earn Bitcoins. On average, a “mining” computer makes approximately 25 Bitcoins every 10 minutes. These Bitcoins are then distributed by the miners through Bitcoin exchanges. It is estimated that just over 12 million Bitcoins, currently worth approximately 9 billion USD, are currently in circulation around the world.
As of 2013, a significant number of worldwide online service providers have started accepting Bitcoin as payment for their services. These include OkCupid, WordPress, Foodler and Baidu.
How do I invest in Bitcoin at eToro?
Investing in Bitcoin at eToro is very much like investing in stocks. It’s as easy as 1-2-3.
1. To start off, go to the Bitcoin page on eToro OpenBook:
2. Click on the “Buy Stock” button and select the amount you wish to invest (as little as $10):
3. Confirm your investment and you’re good to go!
Once you confirmed your order, your order is placed and awaits trade execution. It is then executed by our trading team at 6:00, 12:00, 18:00 or 00:00 (GMT). Trading days for Bitcoin at eToro are Mondays to Fridays.
Please note that while Bitcoin is traded over weekends and holidays, at eToro it is not; there will be no trading of Bitcoin over weekends and holidays.
Important note: All Bitcoin orders will be executed in bulk four times a day at the market price at 06:00, 12:00, 18:00 and 00:00 GMT. This means that price changes between those execution times will not affect the order execution price, and therefore we recommend looking at longer term price trends when considering your investment.
If you have any further questions about Bitcoin please don’t hesitate to visit our Customer Service wall on eToro OpenBook.
And if you have any comments or suggestions, you know what to do. Share your thoughts below!
Remember: Bitcoin investments at eToro are carried out as CFDs. Investing in CFDs carries risks to your capital.