Contents
eToro is an excellent broking platform for those in Kenya who want to acquire Tron
Pros:
- It uses techniques and moves from successful traders so you can copy them
- Admits short-selling
- It is uncomplicated and easy to use
- eToro allows leverage
- It is possible to invest in countless of other products
Homepage: www.etoro.com/tron
eToro is probably the best way to obtain Tron from Kenya.
“Social trading”, a relatively new form of investing by replicating techniques and strategies from other experienced investors, has become trendy because of eToro.
eToro has solutions for you, even if you don't have much experience in trading. You can rest assured that you are making a smart investment since the site emulates those from subjects with a long profit record. Oppositely, if you are an expert in the subject willing to share your methods with the community, eToro pays you for it.
Besides, this platform is completely manageable, ideal for those who want to start learning about Tron and trading, without getting crazy with lots of graphs and numbers.
Trading strategies
When trading cryptocurrencies, there are different possible methods or strategies, like day trading or buying and holding, for naming just a couple.
In case you are a beginner in the world of investment, I suggest something in between: placing a dynamic stop-loss (15-20% under the highest price) when you open your operation and wait for it to work.
Therefore, if for example you acquire a cryptocurrency at $ 10, it rises to $ 20, and after that it decreases to $ 12, your stop loss will take you out of the trade at $ 16-17 and you will have earned a considerable profit.
I know it might sound more appealing to sell when the cost is at its peak, but that is simply not possible. The above method is much more down-to-earth and it can give great results.
Sooner or later, you will be prepared for using more advanced investment techniques, such as using leverage or going short.
eToro deposit methods
When it comes to payment on eToro, there is not much to say, since it is really straightforward. You only need to select “Deposit funds”, put an amount, and choose your payment method. You can pay with PayPal (available for some countries), bank transfer, credit card, Skrill, or Neteller.
(Keep in mind that you must be the account or credit card holder, for security policies).
The minimum first time deposit is $ 200, and there is a maximum limit for unverified accounts. So, if your intention is to deposit higher amounts, you should contact Support to verify your account.
Finally, remember that you can make the transfer in any currency because eToro defaults all deposits to USD, although it charges a fee, so it is preferable to make the transfer directly in USD.
Is eToro safe for purchasing Tron?
eToro is very meticulous with the data about past performances from users, and its reliability has been tested once and again by independent organizations.
eToro complies with all the demanding policies required by the European Union. Specifically, its head office is in Cyprus, and it is certified by the Cyprus Securities Market Commission (known as CySEC), which protects up to € 20,000 of the debts that its clients may have with creditors, including those from Kenya.
eToro is backed by the European Financial Instruments Market (MiFID), and by the Financial Conduct Authority or FCA in the USA. You should also know that it has a trajectory of fifteen years, with more than 20 million users all over the world. So, you can be sure that your finances are safe.
No less important is their excellent customer service. You can contact them by phone or use their live chat.
How does a virtual portfolio work?
Are you beginning in trading? Using a demo account can be useful. You just need to set the virtual mode and you can start practicing with a “fictional” amount.
This is a great tool for those who are new to this world and want to put their talents to the test before playing for real money. When you create your account, you will start with $ 100,000 of virtual funds to do all the operations that you can think of: not just with Tron, you can also create a diverse portfolio with all the different instrument that are available on eToro.
The first attempt is not usually that good. But don't worry, since you can ask support to deposit back the virtual funds to your portfolio, and the second try you should do better.
But keep in mind that you need to be prudent for trading, and demo account trading can have the reverse effect. It is not the same to risk your real savings than to do operations with virtual funds that you don't mind losing.
And of course, the demo mode is kind of pointless if you want to trade in the medium or long-term (with almost guaranteed returns only by replicating an index), since you would be wasting years. Demo accounts may be useful for trying out short or medium-term operations.
eToro Interface
We mentioned before that one of the best things about eToro is that the platform is very intuitive and easy to use. It isn't necessary to read a lot or have previous knowledge to start investing.
You won't have any issues with the interface if you are familiar with any of the most common social networks.
We will explain the registration process and the different sections that you will find.
First, you will have to enter all the information that eToro asks for: first and last name, address…
Additionally, you will see that they ask you some questions about your experience as an investor.
However, it is not like you are answering an exam. They only intend to know how much knowledge you have and what type of assets they can recommend. For example, if it is your first experience in the investment world, they will not recommend that you invest in futures.
Let's see what the different sections of the site are.
With the “Set Price Alerts” tool, you'll be able to program an alarm when an asset is at a certain price. This is helpful in case you want to purchase a security and you are waiting for its price to fall.
“News Feed” is the more “social” section. There, traders can interact and share their knowledge.
“Instruments”, “People” and “CopyPortfolios” are within “Discover”. As we mentioned previously, the six types of instruments on eToro are:
- Cryptocurrencies
- ETFs
- Shares
- Commodities
- Forex
- Index funds
The concept “social trading” makes sense in the section “People”: that is where you can replicate the movements of any investor you choose with just one click.
You will be able to find those users that you find more interesting. When you choose an investor and indicate the amount you want to invest, eToro will automatically replicate their movements, in proportion. For example, if you invest $ 1000 and the user puts 20% of their funds in an asset, the platform will put $ 200 of your balance in the same asset as well.
You will also see the CopyPortfolios divided into three main kinds: “Top Trader”, “Market” and “Partner”.
The benefit of using CopyPortfolios instead of copying individual investors is that this way the risk will be more diversified. The portfolios are identified so you can recognize them easily: one about gaming, another about large drone companies, another about pharmacy … Do you suspect that a certain industry is going to have success in the future? Then you will surely find a CopyPortfolio about it.