eToro relaunches crypto service in the Netherlands
Online broker eToro announces that it is resuming the offering of cryptocurrency services in the Netherlands.
Traders will be able to invest in real crypto if they live in the Netherlands. eToro Europe Ltd says it is now registered with the Dutch Central Bank, De Nederlandsche Bank NV (DNB), to provide crypto services.
This includes eToro’s staking offering for $ADA and $TRX. The broker now offers users in Netherlands access to 23 cryptos including the recently-added $UNI , $LINK and $DOGE .
There are a number of points to keep in mind, such as that there is no ability to transfer crypto from the platform to the eToro Money Wallet. This is because eToro’s on-chain crypto wallet is provided by eToroX and is not available to Dutch users.
Also, crypto positions can only be opened as the underlying asset – this means that if your current regulation does not allow investing in the underlying asset, there will be no option to invest in cryptos at all. There is no option to open SELL (short) positions on crypto because they are crypto derivatives (CFD).
Crypto trading is currently not available via Copy Trading. However, this feature will also be enabled soon.
New users from the Netherlands, Austria, Germany, or Norway, would like to learn that eToro’s first-time deposit amount has been lowered to $50.
Finally, let’s note that cryptoasset investing is unregulated in some EU countries and the UK. Hence, there is no consumer protection and your capital is at risk.