Boasting a community of over eight million people, eToro is one of the leading global trading and investment platform and it specialises in cryptocurrencies. Although there are more than 1,200 assets to trade on eToro, which was founded in 2007, it is in the crypto space that it is particularly popular. The innovative platform began offering Bitcoin in 2014, and at the time of writing mid 2018 eToro has 10 cryptos available to buy outright. These are as follows: Bitcoin; Bitcoin Cash; Ethereum; Ethereum Classic; Dash; Ripple; Litecoin; Stellar; NEO; and EOS. The motto at eToro is Cryptos Neednt Be Cryptic and the team are always trying to educate users about cryptocurrencies, through blogs, videos and other helpful resources. And to make trading even more straightforward eToro has two pioneering tools CopyTrader and CopyFund that are game-changers for crypto investors of all levels. The first, CopyTrader, allows users to match top traders automatically, and is perfect for those users who are unsure about what cryptos to invest in. Over time, and by monitoring the top traders strategies, eToro clients can build up their trading experience and confidence. The second allows users to diversify their portfolio

Boasting a community of over eight million people, eToro is one of the leading global trading and investment platform and it specialises in cryptocurrencies. Although there are more than 1,200 assets to trade on eToro, which was founded in 2007, it is in the crypto space that it is particularly popular. The innovative platform began offering Bitcoin in 2014, and at the time of writing mid 2018 eToro has 10 cryptos available to buy outright. These are as follows: Bitcoin; Bitcoin Cash; Ethereum; Ethereum Classic; Dash; Ripple; Litecoin; Stellar; NEO; and EOS. The motto at eToro is Cryptos Neednt Be Cryptic and the team are always trying to educate users about cryptocurrencies, through blogs, videos and other helpful resources. And to make trading even more straightforward eToro has two pioneering tools CopyTrader and CopyFund that are game-changers for crypto investors of all levels. The first, CopyTrader, allows users to match top traders automatically, and is perfect for those users who are unsure about what cryptos to invest in. Over time, and by monitoring the top traders strategies, eToro clients can build up their trading experience and confidence. The second allows users to diversify their portfolio

Reading:Ripple Secures $200 Million to Increase XRP Adoption

Many have compared Bitcoin to gold with some even referring to the former as digital gold. As it turns out, the historical performance of both assets reveals notable similarities.

Bitcoin, being a fairly nascent asset, reveals serious similarities to the yellow metal in its performance. As seen on the chart below, the resemblance is uncanny.

The chart compares the performance of gold in the last 43 years and that of Bitcoin since its inception. It was originallypostedby Tweeter user Nunya Bizniz, who described the charts as having an uncanny resemblance.

And while Bitcoin and gold reveal similar performance, some hold that the cryptocurrency has more utility than the precious metal. US Economist Paul Krugman, for instance, recentlystatedthat Gold is dead Bitcoin has more utility than gold.

Earlier in August,Bitcoinistreportedthat Bitcoin has been settling more transaction volume than gold ever since Q2 2017.

While they are vastly different in their essence, Bitcoin a.k.a. digital gold  and the worlds most popular precious metal have been commonly pinned against each other.

John Pfeffer a serial entrepreneur, investor, as well as a partner at Pfeffer Capital,notedthat Bitcoin is the very first viable replacement for gold. A similar sentiment was shared by the Winklevoss twins, whosaid:

Taking bitcoin in isolation we believe bitcoin disrupts gold. We think its a better gold, if you look at the properties of money. And what makes gold gold? Scarcity. Bitcoin is actually fixed in supply so its better than scarce its more portable, its fungible, its more durable. It sort of equals a better gold across the board.

Back in July former US presidential candidate, Ron Paulsaidthat efforts to replace the dollar with gold and cryptocurrencies are already underway:

There are several major efforts being made to replace the fiat dollar with gold or cryptocurrencies, while other countries are making plans to challenge the dollar as the worlds reserve currency.

What do you think of the similar performance of the precious metal and Bitcoin? Dont hesitate to let us know in the comments below!

Images courtesy of Twitter/@Pladizow, Shutterstock, Bitcoinist archives

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