9 Exchanges to Buy Crypto & Bitcoin in Washington State 2024

EToro USA LCC does not offer CFDs; only real crypto assets available. You can also use eToro’s related offering Smart Portfolios to replicate the performance of crypto-focused portfolios managed by eToro. This effectively turns eToro into a kind of hands-off, no-fee robo-advisor for cryptocurrencies. Improving the exchange’s coin offerings in the U.S. could greatly increase the platform’s value. The lack of altcoins available, particularly in the U.S., is a problem for eToro. Although some major coins are offered, other coins like Solana (SOL) are missing from the U.S. lineup.

The only real negative to the education on offer is that it could be a little bit more detailed. Some brokers offer a full curriculum for new traders, but that isn’t offered here. Some kind of lesson structure would make the educational offerings much better. But, as lots of brokers don’t offer anything at all, this is still an above-average offering from eToro. The usability of the eToro platform is generally amongst the best on the market.

Bitcoin Mining in Washington

The app is very responsive when used on mobile devices, it has been optimized to make sure that it works on most modern devices. Traders using the app can benefit from eToro’s popular features, including virtual portfolios, research, ProCharts analysis, multiple watchlists and offline trading. The app also makes use of high-quality scaling to ensure that the graphics on the screen are not skewed or stretched. On the whole, it’s a fantastic way to trade on the go, offering the full eToro service without having to worry about your mobile browser slowing down your trading.

This platform’s social features and active community make it a good option for people who prefer a more communal trading experience. But if all you want is a reasonably priced crypto exchange, eToro’s high trading fees may seem a bit steep. The eToro USA brokerage certainly provides an interesting alternative for new and experienced traders, who wish to trade in a range of assets, including cryptocurrencies. The US platform will offer around ten different digital currencies, including Bitcoin, bitcoin cash, dash, Ethereum and Litecoin.

1. Once you open and fund an account, you have access to a wide variety of cryptocurrencies or currency portfolios.
2. The broker clearly displays spreads, along with other fees, on the website, and they are fairly competitive.
3. There’s no fee to participate—popular Investors are compensated by eToro—and once you’ve made your trading portfolio, you can apply to be a Popular Investor yourself.
4. This effectively turns eToro into a kind of hands-off, no-fee robo-advisor for cryptocurrencies.
5. The investing information provided on this page is for educational purposes only.

Traders can simply fill in their details and then they will be trading in no time at all. All of the menu options are clearly labeled at the top of the page and the drop-down menus are very responsive. You can make your way to the important sections of the website very easily. If you leave your account dormant for 12 months, then you will also accrue inactivity fees. While they’re certainly not the highest on the market, traders will be charged $10 per year as an inactivity fee. If you want to avoid this, simply log in once a year and make a small trade on your account.

Compare Crypto Exchanges

The broker also runs active social media profiles, which does provide another way to get in touch with them. Limitations include few offerings beyond cryptocurrency and stock and the inability to sell anything short. Those interested in copy trading face the additional challenge ofdeciding which traders to copy. The eToro platform offers an active user community and social features like news feeds for specific coins available for trading.

EToro also offers new members the option to start an account with their Facebook or Google accounts. Any such advice should be sought independently of visiting Buy Bitcoin Worldwide. Only a legal professional can offer legal advice and Buy Bitcoin Worldwide offers no such advice with respect to the contents of its website. Central Washington’s abundance of cheap hydroelectric power has made the state a popular location for Bitcoin mining operations(10). Bitcoin miners join Google, Yahoo, and Dell, who all operate data centers in the region.

eToro fees and features data

While there is no email or telephone support provided for US clients, the only other alternative for US traders to contact eToto at its New Jersey postal address. It also means avatrade review that the features that are available can be used by everyone, so this is obviously a positive. For example, you can copy trade with the standard account provided — you don’t need a specific account like you would with some other brokers. The spreads can be quite high, though — from 0.75% up to 5% — which can eat into trades at times.

You will need to upload proof of identity and proof of residency. This is usually in the form of a copy of your passport or other government issued ID, plus a recent utility bill or bank statement clearly showing your name and address. To make sure that client data is secure, eToro encrypt data across the website. The eToro disclosure policy rightly draws attention to the fact that cryptocurrency markets are decentralized and non-regulated, and indicates exactly what the risks are, as part of their disclosure policy.

eToro App

The eToro trading platform is intuitive, robust and flexible, and those new to the platform tend to quickly find their way around. The demo account is helpful in this respect too, allowing new clients to practice trading and get familiar with the platform before risking any real money. EToro offers a crypto exchange that supports trading in 30+ cryptocurrencies, as well as an online brokerage platform with a limited selection of stocks and exchange-traded funds (ETFs).

It is a slight negative, but this is obviously offset by the lack of fees in other areas. So, if you’re successful enough to have traders copying you, you will earn an additional income on top of the money you earn from your trades. If you gain enough of a following, then this could even cover your spreads, meaning that everything you make on trades is pure profit. EToro also promotes its Popular Investor program whereby copied traders earn a commission based on other traders copying their trades. The program follows a tiered structure with levels titled ‘Cadet’, ‘Rising Star’, ‘Champion’ and ‘Elite’ with payments received representing 2% of assets under management (AUM) annually at the top level. Next, you will have to verify your account, a necessary step before you can access a real account and deposit actual money.

Just like the desktop app, traders are not able to short trade. The reason behind this is that US traders are only allowed to trade the real coin, not CFDs. So, short trading is not offered by eToro — just pure crypto trading. To do this simply log in to your account and select ‘deposit funds’. Enter the amount you want to deposit and select a deposit method.

For US customers, it focuses solely on crypto trading, so there are no other aspects of the business to muddy the waters. It means that traders with eToro are given a dedicated service purely for crypto. The US eToro site is currently stating that they are charging a flat $5 fee for any withdrawal, but be aware that banks and credit card companies may apply their own fees to these transactions. The broker does charge a fairly low inactivity fee of $10 a month and this does westernfx not apply until an account has been inactive for 12 months. Unlike other brokers, eToro only charge an inactivity fee on completely dormant accounts, so usually logging into your account will count as activity, and let you avoid this fee.

Opening an eToro Account

The eToro platform is known worldwide for its expertise in crypto trading, and its wide range of digital currencies. The broker offers a more extensive choice of virtual coins than most others, although not all of them are available yet in the US. For now, the US platform will offer around 10 different digital currencies, including Bitcoin, Bitcoin Cash, Dash, Ethereum, Ethereum Classic and Litecoin. The eToro app has the ability to set customized notifications and alerts, for example push notifications that will alert you when a certain asset reaches a specified price.