To start trading cryptocurrencies under this new system, eToro users in Germany will need to agree to new Terms and Conditions from eToro, DLT Finance, and Tangany.
Key Notes
- eToro has secured a strategic partnership with DLT Finance, opening the door for German clients to directly trade digital assets in compliance with local regulations.
- German eToro users will soon have direct access to cryptocurrencies instead of trading only CFDs with DLT Finance tasked with handling transactions for enhanced trading capabilities.
- The company has imposed a 1% transaction fee for all crypto transactions under the new partnership.
eToro, a leading global crypto trading platform, has taken a significant step to expand its offerings to German customers by partnering with DLT Finance. The collaboration will allow the company’s clients in Germany to trade digital assets directly through DLT Finance, which will serve as the counterparty for all trades.
According to a recent announcement, the new service is expected to launch in the coming weeks. Before now, eToro’s customers in Germany were only able to trade cryptocurrency CFDs (Contracts for Difference), which allowed them to speculate on the price movements of crypto assets without actually owning them. However, through this partnership with DLT Finance, customers will have access to a broader range of digital assets such as Bitcoin
BTC
$63 514
24h volatility:
-0.1%
Market cap:
$1.26 T
Vol. 24h:
$28.37 B
, Ethereum
ETH
$2 647
24h volatility:
-0.3%
Market cap:
$318.76 B
Vol. 24h:
$16.53 B
.
eToro Names Tangany as Custody Partner
Under the terms of the partnership, eToro will provide users with a regulated platform to trade cryptocurrencies while DLT Finance will handle the execution of these trades. Additionally, both companies have selected Tangany GmbH as the custody partner for the digital assets.
Both Tangany and DLT Finance are regulated by the German Federal Financial Supervisory Authority (BaFin), providing an added layer of security and compliance.
However, to start trading cryptocurrencies under this new system, eToro users in Germany will need to agree to new Terms and Conditions from eToro, DLT Finance, and Tangany. They may also need to complete a video identification process for verification purposes.
Costs and Privacy Considerations
While this partnership offers new opportunities, it also changes the platform’s functionality. For example, features like limit orders, stop-loss, and take-profits will no longer be available for trades involving DLT Finance. Existing crypto CFD positions, however, will remain unaffected by these changes, and users can continue using these features for CFDs.
For those involved in copy trading, any new positions in crypto will also be treated as CFDs, not as direct crypto purchases.
Moreover, eToro’s crypto wallet will not be available to German customers. However, users will still have the option to transfer their crypto holdings to other regulated German crypto custodians via Tangany if they choose to do so. This ensures that those who prefer more flexibility with their digital assets can do so under-regulated frameworks.
In addition to the new changes, DLT Finance said it will apply a 1% fee for buying and selling crypto assets, which may be subject to future adjustments. Additionally, as part of the partnership, users’ personal data will be shared between eToro, DLT Finance, and Tangany. Still, all parties have assured users that their data will be handled securely and in accordance with their privacy policies.
next
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Chimamanda is a crypto enthusiast and experienced writer focusing on the dynamic world of cryptocurrencies. She joined the industry in 2019 and has since developed an interest in the emerging economy. She combines her passion for blockchain technology with her love for travel and food, bringing a fresh and engaging perspective to her work.
