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SBI Group (Ripple Investor/Partner) invests in eToro

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1 hour ago, Winteriscomming said:

Be careful, XRP in Etoro is a derivate product it does not influence in XRP price.

Actually SBI cut relations with Huobi and now Huobi is entering the US market with a Fincen licence.

A decouple need direct access to XRP not derivates products. (for now).

Again false info. Etoro buys the XRP and keeps it in cold storage since September. It is not a CFD anymore. Stop spreading false info. 

Edited by Plikk

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20 minutes ago, Plikk said:

Again false info. Etoro buys the XRP and keeps it in cold storage since September. It is not a CFD anymore. Stop spreading false info. 

Yes, but you cant trade XRP directly, so this is technically a derivate product

Edited by Winteriscomming

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1 hour ago, Winteriscomming said:

Yes, but you cant trade XRP directly, so this is technically a derivate product

It is not a derivative as a derivative has no effect on the underlying asset price. eToro buyers have a direct effect on price. It can be traded back to fiat at anytime however you  are correct that it cannot be traded between other cryptos yet but this is in the works with the wallet. The margins are a little higher than other exchanges but I think this is out weighed by the fact that you can buy instantly with your debit card and the other great features of the site. Your choice where you want to trade but let’s not spread FUD as long as people are buying I don’t care where :)

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Just now, RippleHerToShreds said:

Do you have proof? As far as I am concerned, they are simple selling a virtual XRP and have no real asset to back it up.

Google search it and you'll find more topics about it. Etoro also confirmed they keep it in cold storage to me personally. 

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7 minutes ago, RippleHerToShreds said:

Do you have proof? As far as I am concerned, they are simple selling a virtual XRP and have no real asset to back it up.

Did you even bother to read eToro FAQ about cryptos already posted here in this thread? Here, I will put the link once again. Try reading first before jumping into conclusions

https://www.etoro.com/en/help#/path/Trading-Investing/1043631832/Frequently-Asked-Questions-regarding-Crypto-asset-owning-and-trading.htm

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3 minutes ago, RippleHerToShreds said:

So I'll take that as a "no" then!

Etoro:

"Do I own my cryptos?

Users who have invested in a BUY crypto position since 3 September 2017 own the underlying asset rather than a CFD. While eToro does offer real cryptocurrency trading, we will only be offering the option to transfer cryptocurrencies to a digital wallet later in 2018."

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7 hours ago, Plikk said:

Couldnt be more wrong. Etoro is regulated from within the EU in Cyprus. They keep the crypto you buy from them in cold storage. 

Even the Etoro website doesn;t agree with you:

Are the cryptocurrencies regulated?

Cryptocurrencies are not regulated and so users will not be insured by the Investor compensation schemes in Cyprus or UK for these instruments when they own the underlying asset. Also, you will not be able to file a complaint with the Financial Ombudsman Service if you are not satisfied with our service, although we will do the utmost to resolve any questions or issues you may have.

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29 minutes ago, PacalVotan said:

Etoro:

"Do I own my cryptos?

Users who have invested in a BUY crypto position since 3 September 2017 own the underlying asset rather than a CFD. While eToro does offer real cryptocurrency trading, we will only be offering the option to transfer cryptocurrencies to a digital wallet later in 2018."

Yes, they say that but I don't believe them! Did you read further down where they say:

"When copying Popular Investors or investing in our CopyFunds strategies, all positions will remain as CFDs and not the underlying asset."

To me that says if you copy a buy you don't own the crypto - how is that possible?

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1 hour ago, RippleHerToShreds said:

Yes, they say that but I don't believe them! Did you read further down where they say:

"When copying Popular Investors or investing in our CopyFunds strategies, all positions will remain as CFDs and not the underlying asset."

To me that says if you copy a buy you don't own the crypto - how is that possible?

So you believe eToro regarding the non insurance by the Investor schemes but you do not believe them when it comes to owning the assets? It looks like you're cherry picking to suit your FUD agenda. Carry on

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9 hours ago, davygravy77 said:

It is not a derivative as a derivative has no effect on the underlying asset price.

 

5 hours ago, RippleHerToShreds said:

On what planet is that true? You have zero clue what you're talking about!

Every planet I've ever lived on. That's why they're called derivatives: the underlying asset determines the price of the derivative, not the other way around. Yes, a CFD is a derivative, and if you copy, implement, or buy into whatever "investment" strategy they have you will be buying into CFD derivatives because these strategies may involve short positions. If you buy the asset long, you own the asset long: no CFD, no derivative. That said, I don't have an account with eToro and do not plan on having one at any time; so, make sure you do your own DD.

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6 hours ago, Plikk said:

Google search it and you'll find more topics about it. Etoro also confirmed they keep it in cold storage to me personally. 

For me either. I’m one E-toro customer and all my XRP are stored in their Wallet.I can not withdrawl XRP right now but as soon they finish their wallet, I’ll have the option to move all my XRP to the wallet and pay some kind of security storage.

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