Crypto buyers face ‘Possible Limits’ on eToro This weekend

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The multi-asset broker system has warned users looking to buy bitcoin and other currencies over the coming weekend.

According to an email sent to customers and as reported by Bloomberg on Wednesday, the Israeli-speaking company said customers could face “potential challenges” because of “challenges” in the altar’s ability to support purchase orders.

The company said they could impose restrictions on customers looking to buy cryptocurrency assets due to complications arising from a lack of market control.

The broker may set a short-term maximum value for cryptocurrency assets per customer, as well as temporarily suspend the ability to place new purchase orders, according to a copy of the letter sent online.

Spreads on cryptocurrency assets may also be more bearish than normal arising from “unstable conditions in the market” as secondary demands from new entrants for digital assets.

Users on the platform have risen in recent weeks, with eToro opening 380,000 new accounts. Its cryptocurrency trading volume is 25 times higher than January 2020, according to a Bloomberg report.

The disruption to services has also led traders to speculate about the financial conditions of cryptocurrency positions that stigmatized on Sunday when their positions were suddenly closed due to “high market volatility.”

As such, customers are now being warned that the broker platform could make further changes to their cryptocurrency partners “at a very short notice.”

CoinDesk reached eToro, but did not receive a response by typing time.

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