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SBI Group (Ripple Investor/Partner) invests in eToro

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Ive been on etoro for a few years. Since September 2017 you do own XRP which is stored safely offline by them. Some point this year there will be a wallet. Overall I find it a great site, yes the spread can be high at times but for me the biggest advantage is that I can transfer cash on my debit card to my account in under a minute and buy XRP with fiat $.

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Some of the reasons some people chose eToro might be because it's user friendly, that was determinant when I started on the Crypto quest, you can interact with other users in real time and exchange ideas, also it's easy and quick to buy and sell straight from fiat to XRP, even using Paypal option.

What I'm not happy about is their massive spreads and the fact it doesn't have a wallet so I can move my XRP, hopefully they will come up with a wallet soon

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21 minutes ago, orcablue said:

But if you're anywhere in australasia, i'd go with coinspot.com.au. You can buy XRP directly with AUD, and have the option to store XRP with them or transfer to a wallet of your choosing.

Or you could use btcmarkets and not lose up to 5% in fees. They may not have as many coins as coinspot but you can always buy btc and transfer to binance if you want variety. Coinspot will rip you off worse than coinbase.

Theres also acx.io. Trade fees are cheap but they charge $20 for fiat withdrawal. Its worth it if you are doing a few grand or more.

Also coinspot is iliquid at times.

Edited by Rob_long
Almost forgot

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3 hours ago, Rob_long said:

Or you could use btcmarkets and not lose up to 5% in fees. They may not have as many coins as coinspot but you can always buy btc and transfer to binance if you want variety. Coinspot will rip you off worse than coinbase.

Theres also acx.io. Trade fees are cheap but they charge $20 for fiat withdrawal. Its worth it if you are doing a few grand or more.

Also coinspot is iliquid at times.

Yea I found btcmarkets to have the best rates in Aus for direct aud/xrp purchases. No problems with them so far.

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9 hours ago, PacalVotan said:

Some of the reasons some people chose eToro might be because it's user friendly, that was determinant when I started on the Crypto quest, you can interact with other users in real time and exchange ideas, also it's easy and quick to buy and sell straight from fiat to XRP, even using Paypal option.

What I'm not happy about is their massive spreads and the fact it doesn't have a wallet so I can move my XRP, hopefully they will come up with a wallet soon

I want to hold my own coins as most do here, but I see a time not far away where DA holdings are much more common and most of these late entrants won't give a hoot for wallets.  They will only need the exchange to demostrate safe custody.

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9 hours ago, PacalVotan said:

Some of the reasons some people chose eToro might be because it's user friendly, that was determinant when I started on the Crypto quest, you can interact with other users in real time and exchange ideas, also it's easy and quick to buy and sell straight from fiat to XRP, even using Paypal option.

What I'm not happy about is their massive spreads and the fact it doesn't have a wallet so I can move my XRP, hopefully they will come up with a wallet soon

BTW any Etoro users feel free to join the eToro club here on xrpchat. We try collate all the info we know on wallets, take profits etc in one place for easy reference.

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On 21/03/2018 at 8:36 PM, PacalVotan said:

the fact it doesn't have a wallet so I can move my XRP

Etoro does not own any XRP, nor do you if you trade with them!
They have no regulation (for cryptos) - if they go belly up, then your cash is gone!

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37 minutes ago, RippleHerToShreds said:

Etoro does not own any XRP, nor do you if you trade with them!
They have no regulation (for cryptos) - if they go belly up, then your cash is gone!

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

Edited by Plikk

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On 21/03/2018 at 5:42 PM, googie said:

maybe this is the 1st step in that process (eToro expands into US, allows direct purchasing of XRP using dollar, reducing reliance on BTC for cashing in/out)

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).

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40 minutes 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).

No CFD anymore

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On 3/21/2018 at 10:23 PM, FUD said:

Not to fud , but there have been rumors of Etoro, adding a wallet by the end of the year . 

Not a rumour, it is happening

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To me it looks like SBI has invested in eToro as they have identified them  a major XRP liquidity partner, with over 9 million users and opening in more countries with direct xrp-fiat pairs.

Yes you do actually own XRP purchased on eToro after September 2017 and as mentioned they are kept in secure cold storage. I believe users are protected with $100k insurance in case of bankruptcy although I think this is an exchange that definitely is moving up and has a strong focus on block chain and cryptos.

 

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