Multi-asset brokerage eToro has issued a warning to users looking to buy bitcoin and other cryptocurrencies over the coming weekend.

According to an email sent to customers and as reported by Bloomberg on Wednesday, the Israel-based company said customers could face “possible limitations” due to “challenges” in the platform’s ability to support buy orders.

The company said they may impose limitations on customers looking to purchase cryptocurrency assets due to complications arising from a lack of market liquidity.

Spreads on cryptocurrency assets may also be wider than usual resulting from “unprecedented conditions in the market” as demand surges from newcomers for digital assets.

Users on the platform have skyrocketed in recent weeks, with eToro opening 380,000 new accounts. Its cryptocurrency trading volume is 25 times higher than January 2020, per Bloomberg’s reporting.

The disruption to services has also filtered over to traders regarding leveraged cryptocurrency positions who called foul on Sunday when their positions were abruptly closed due to “extreme market volatility.”

CoinDesk reached out to eToro, but did not get a response by press time.




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Crypto Buyers Face 'Possible Limitations' on eToro This Weekend

by Mario Herndon
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