Twitter will enable crypto and stock trading via eToro partnership

[yhiaali3]

Sounds like a good partnership as they have cross use cases.

I only don't know how people will be able to trade stocks and cryptocurrency directly on Twitter?

I believe Twitter will have to submit new area for their company license to legally deploy it on Twitter. Regulations on financial services are very strict in the USA. and if Twitter ignore compliance stuffs, they will be in troubles with regulatory authorities.

Yes, a very good partnership, eToro is a very long-established company in the field of investment, stock trading and cryptocurrency trading, but they are subject to US regulatory conditions, also they impose KYC on users, so I worry that Twitter should do the same.

If they apply for licenses from the US government I am afraid they will start applying strict restrictions on users especially KYC AML, these effects will not be happy for many users.

[bettercrypto]

As the title says, Twitter partnered with eToro and starting tomorrow (April 14th) users will be able to trade crypto and stocks directly on the platform.

Twitter users will soon be able to trade stocks, crypto, and other assets directly via the social media platform, thanks to a partnership with eToro. According to a CNBC report, the new feature will roll out on the Twitter application on Thursday, April 14.

It is interesting to note that Twitter’s owner, Elon Musk, began his quest to acquire the social media platform on April 14, 2022. A year later he is rolling out one of the biggest updates in the platform’s history. Twitter currently has a “cashtag” feature that allows users to view real-time trading data from various platforms. However, with the Twitter-eToro partnership, the “cashtag” feature will expand to include more instruments and asset classes, including trading crypto. The social media platform will also have a “View on eToro” button, which will take users to the eToro site.

eToro CEO, Yoni Assia told CNBC that they see a lot of their users interacting on Twitter and educating themselves about the market. Assia further added that Twitter has high-quality, real-time content about financial happenings around the world. Assia stated,

“This partnership will enable us to reach those new audiences [and] connect better the brands of Twitter and eToro.”

It just means that twitter users will now be able to browse market charts of various financial instruments that they can buy or sell through Etoro. Elon Musk thinks that Twitter will become a super app.

      Elon Musk's super app idea is good, but it is not that easy to implement in the US. China's wechat is different because it has the blessing of the Chinese government. However on Elon Musk's twitter that is not really in good terms with the regulators same with other tech giants like google and apple that they are not close to the regulators. That's why many doubt this super app that Elon Musk wants to happen.

[WillyAp]

If they apply for licenses from the US government I am afraid they will start applying strict restrictions on users especially KYC AML, these effects will not be happy for many users.

As its most likely just a US based experiment KYC won't come to non verified users, should that happen it goes bye bye twitter.

[dothebeats]

This would likely drive a lot of people into crypto trading and possibly losing money but hey, at least a lot of them now knows crypto and not just ranting about almost everything

But seriously, Elon needs to take into consideration the possibility of getting a lot of people hooked and addicted to trading and losing a lot of money. There should be certain specific requirements that an account should have before getting this feature enabled on their accounts. But overall this is a nice partnership, and hopefully it becomes a fruitful one for the benefit of the crypto community too.

[adaseb]

Yes I was also confused as this news. I actually assumed it might of been some April fools joke. No idea exactly why he wants to do this.

You can just trade with a simple Twitter account with just a regular email address and password. You need to pass KYC and fund the account. No idea how to make that possible with Twitter. Would of been better to just incorporate stocktwits more and make people trade from their own broker separately. But we will see how it works exactly.

[LastKiss]

As the title says, Twitter partnered with eToro and starting tomorrow (April 14th) users will be able to trade crypto and stocks directly on the platform.

~snip~

It's really a good partnership and a great move for Twitter I guess, but till now I don't see an update regarding this news. If someone knows the newer news I would like to know if Twitter is already implemented that update to Twitter. As a social media with many users in it, I'm pretty sure this thing will boost crypto prices too.

[iv4n]

Yes I was also confused as this news. I actually assumed it might of been some April fools joke. No idea exactly why he wants to do this.

You can just trade with a simple Twitter account with just a regular email address and password. You need to pass KYC and fund the account. No idea how to make that possible with Twitter. Would of been better to just incorporate stocktwits more and make people trade from their own broker separately. But we will see how it works exactly.

Elon Musk wants to offer Americans an ‘everything app’ like China’s WeChat. One hurdle? Habits As others said already, he is probably going in this direction, but who knows what Elon will do actually.

There are just a few obstacles. First is that a Musk-owned Twitter wouldn’t be the only global company in pursuit of this goal, and in fact would probably be playing catch-up with its rivals. Next is the question of whether anyone really wants a Twitter-based everything app — or any other super app — to begin with.

Elon and his ideas... I don't have much faith in his words, Elon easily changes his mind at the end. But he is still full of money and can try to make his dreams come true... but whether he will succeed or not, we will see.

[Huppercase]

Twitter's reputation is deteriorating as time goes by. First, Elon Musk used Doge as the Twitter logo on the web, resulting in Doge's value increasing by more than 30%, only to later remove it. Additionally, he made posts about APT, which caused Aptos to surge as well. Currently, Musk is attempting to transform Twitter into a trading platform. I fail to see the logic behind this move. If a trading platform is what he desires, why not create one and connect it to Twitter? Perhaps he is attempting to be a jack of all trades, but I cannot fault him. He earns $8 in monthly subscriptions from Twitter users, and there have been no complaints about his behavior.

[GreatArkansas]

(......)
~snip~

(....)
 As a social media with many users in it, I'm pretty sure this thing will boost crypto prices too.

Exactly. On Twitter, there you will see a lot of people talking cryptocurrency. I believe that Twitter is the famous social media platform that most of cryptocurrency-related topic and cryptocurrency popular personalities are also there, so for me, this is a big Win for cryptocurrency market. I believe it will extend to cryptocurrency market.

[elevates]

Twitter needs to first control spammers, bots, scammers and it's security. There have been in the past & present of scammers able to influence trends using bots. Just imagine what will happen when someone uses this new feature. Accounts getting hacked is something which is very common. Genuine accounts getting banned is also an issue. Spamming & trolling is a common on it.


I think it is too early to implement a trading feature like this. You never know suddenly Elon might tweet that Dogecoin is the official currency of Twitter after this trading feature gets activated.

[CarnagexD]

As the title says, Twitter partnered with eToro and starting tomorrow (April 14th) users will be able to trade crypto and stocks directly on the platform.

Twitter users will soon be able to trade stocks, crypto, and other assets directly via the social media platform, thanks to a partnership with eToro. According to a CNBC report, the new feature will roll out on the Twitter application on Thursday, April 14.

It is interesting to note that Twitter’s owner, Elon Musk, began his quest to acquire the social media platform on April 14, 2022. A year later he is rolling out one of the biggest updates in the platform’s history. Twitter currently has a “cashtag” feature that allows users to view real-time trading data from various platforms. However, with the Twitter-eToro partnership, the “cashtag” feature will expand to include more instruments and asset classes, including trading crypto. The social media platform will also have a “View on eToro” button, which will take users to the eToro site.

eToro CEO, Yoni Assia told CNBC that they see a lot of their users interacting on Twitter and educating themselves about the market. Assia further added that Twitter has high-quality, real-time content about financial happenings around the world. Assia stated,

“This partnership will enable us to reach those new audiences [and] connect better the brands of Twitter and eToro.”

now it's easier to take other people's advice, trade it and lose money.
I believe Twitter now is gearing up on a different course than its original purpose.

Regardless if it's true or would truly happen, only use the platforms that are beneficial to you. If you want a reliable news, use platforms releasing reliable news. If you just need a platform to trade, just use a platform for trading.

Twitter needs to first control spammers, bots, scammers and it's security. There have been in the past & present of scammers able to influence trends using bots. Just imagine what will happen when someone uses this new feature. Accounts getting hacked is something which is very common. Genuine accounts getting banned is also an issue. Spamming & trolling is a common on it.


I think it is too early to implement a trading feature like this. You never know suddenly Elon might tweet that Dogecoin is the official currency of Twitter after this trading feature gets activated.

This means a bullish stance for Doge because it has another utility. But only if this happens.

[stompix]

Elon Musk is only looking for ways to make more money and not thinking about Twitter users. I wonder if anyone on Twitter will not want to try to trade and start losing money, I hope they will know that trading is not for everyone.

Is Musk forcing you to trade? Is Twitter forcing you to invest? Nobody is forcing you to do anything!
If people want that they will use the features if they don't they won't simple as that!

One week ago we have topics about how crypto trading is pulling people out of poverty in Afri ca and everyone is clapping now when Musk allows this everyone is about the loss. Nobody brought the loss into a decision when it was about CZ and his #safu unregulated exchange but when is about somebody else all the biased comes to the surface!

Let me guess, just for people in the US.
Elon lives in a bubble, the world for him is just the USA.

The USA is where the money is, if Mozambique had the wealth of the US there would have been apps targeted only at them, but until that changes, this is the reality, and that's why every company wants to be listed in the US, that's why everyone wants to sell products in the US and this is the reason there is no Lamborghini dealership in Kampala.

[LogitechMouse]

Elon Musk is only looking for ways to make more money and not thinking about Twitter users. I wonder if anyone on Twitter will not want to try to trade and start losing money, I hope they will know that trading is not for everyone.

Well, Twitter is a company, and companies do businesses, and businesses make profit, so I don't see any problem there I guess.
After all, integrating crypto trading on Twitter just increases the chances of cryptocurrency being seen worldwide because for sure, there are some Twitter users out there who doesn't, or worse don't know crypto at all.

Elon really is changing Twitter the way we know it. Crypto trading has risks, and it really isn't for everyone, but on the other hand, Elon isn't forcing those people who are using Twitter to use that additional feature. This might sound crazy for others, but I'm not using Twitter anymore, and I've only used it when I was joining bounty campaigns.

I tried trading on eToro though, and I think it's good especially the copy-trading feature. I just don't know why whenever Elon Musk is having some updates, they always connect DOGE with it.

[Unbunplease]

If you work with cryptocurrency via Twitter, you will not be anonymous. The main question is, why would you work with cryptocurrency via Twitter if you have DEX? It's just that you'll have extra eyes following you - and there may be some problems that are not yet being talked about.

[OcTradism]

Well, Twitter is a company, and companies do businesses, and businesses make profit, so I don't see any problem there I guess.
After all, integrating crypto trading on Twitter just increases the chances of cryptocurrency being seen worldwide because for sure, there are some Twitter users out there who doesn't, or worse don't know crypto at all.

It will help to expose cryptocurrency to more people as Twitter is a very good advertisement platform for cryptocurrency from projects to influencers and even scammers in this industry.

If Twitter deploys it well and have good security to avoid exploitation on their platform, that is good if people can check tweets and trade directly on Twitter. I am not sure about security for such integration but let's see how they do this. In addition, I don't use all my capital to experience trading on Twitter in their partnership with eToro.

I tried trading on eToro though, and I think it's good especially the copy-trading feature. I just don't know why whenever Elon Musk is having some updates, they always connect DOGE with it.

He loves doge and people love doge too. People want to see Elon's tweets about Doge and he generously gives those people, his followers joyful experience.

[Oshosondy]

Is Musk forcing you to trade? Is Twitter forcing you to invest? Nobody is forcing you to do anything!
If people want that they will use the features if they don't they won't simple as that!

It is not about Musk forcing people to trade, it is about exposure of trading that it brings to people that is using Twitter. As ifr me, I should not be like that, let anyone that wants to trade to open account on an exchange, that would be voluntarily, not by seeing anything that just directed you to trading on a platform that supposed not to be a social media. I can understand byou that life is not balance, but I am only giving my opinion about what Twitter and eToro partnering can result to about exposing more people to trade, even including the people that do not know how to trade.

One week ago we have topics about how crypto trading is pulling people out of poverty in Afri ca and everyone is clapping now when Musk allows this everyone is about the loss. Nobody brought the loss into a decision when it was about CZ and his #safu unregulated exchange but when is about somebody else all the biased comes to the surface!

Before crypto, were forex, stocks and commodities trading. Are those not enough to pull people out of poverty. Let me explain better. I have been in crypto since 4 years now, I have known very well about all types of trading and I prefer to go into derivatives, the perpetual futures if I should be more specific. The lucky days I had were when I trade in the direction of the market, like opening long possible during bull market. Some people think that they are making money from crypto trading, but they were lucky to open position in the direction of the trends, just like holding. The bear market can come and the result could be bad.

In my experience, crypto trading is risky like other trading. Also who is in poverty would not have enough to use to trade, trading required data bought from services provide, device like phone or laptop. The data it can consume is far more than other types of trading because crypto exchanges are heavy loading sites, but my comparison is with forex trading, not all. This aside.

Let me further the explanation. Because some people are holding or opening swing position in the direction the market is going, they said trading is good and they are making money from it.

If not for trading and because I thought I have a lot of experience in trading, I would have been a millionaire by now if I just keep holing bitcoin and some other coins.

Trading is not easy than newbie traders think, some people do not know it is like gambling until they lose significant amount of money in short time just like gambling. And we should know that people that lose from trading in real life are more than people that continue to trade. Some lose and leave scalping and day trading for swing trading. But some people see how their life is ruining with continuous losses and become calm and wait for bull run time to just hold instead.

According to the stats that I have seen that was as a result of many traders experiences about trading, most traders later stop trading, especially the ones that become married. Most of them that did not stop trading change to swing trading. Only little chose that they continue with scalping and day trading which are the actual trading.

[stompix]

It is not about Musk forcing people to trade, it is about exposure of trading that it brings to people that is using Twitter. As ifr me, I should not be like that, let anyone that wants to trade to open account on an exchange, that would be voluntarily, not by seeing anything that just directed you to trading on a platform that supposed not to be a social media.

Then we should ban discussion about crypto on Twitter too because it might lead to people investing in shitcoins, we should ban every exchange and every crypto "project" owner because it will give exposure to a thing where people might lose money.
Besides, again, what is not voluntary here?
Nobody is forcing you to do anything! I have had a Twitter account for a decade and I haven't made one post! One single post!, although probably I've read a million tweets, not one post, not a retweet, not one like!

~

You missed completely the point and went on a neverending story path, it wasn't about trading it was about the bias when analyzing something.
Every single person was bragging about how trading is helping poor countries, how Africa is breaking records on Paxful or any other platform, and now suddenly out of the blue, trading currencies are bad, and the only reason for this 180-degree change is that this one is run by Musk, nothing else!
We have 1 billion pages on how to encourage people to trade and buy cryptos, one trillion on how do we need to defend against the evil corporations that want to ban and destroy trading, and one quadrillion about how we need more investments and more exposure but when Musk does this is suddenly bad and all the board goes Helen Lovejoy style!

[noorman0]

If you work with cryptocurrency via Twitter, you will not be anonymous. The main question is, why would you work with cryptocurrency via Twitter if you have DEX? It's just that you'll have extra eyes following you - and there may be some problems that are not yet being talked about.

That's not a new concern, working on a centralized application will never be anonymous, and I think the "oversight" will be mostly done by eToro since they must have had such terms of use in place before the partnership happened. But don't worry, real traders don't play with their time using integrated trading apps that are not their thing.

[Distinctin]

Twitter seemingly to be gearing towards being some sort of super app. Very interesting development compared to what eToro did.

eToro: investing/trading app that added a social media aspect
Twitter: a social media app that added investing/trading

Twitter in itself right now is pretty buggy though — not sure if implementing investing/trading is the best move to make right now.

That seems interesting but I also think Twitter is still not capable of its implementation. It is a social media app, and not a literal crypto exchange. So seems like it might be inconvenient for traders to trust Twitter at its new venture. Though it’s a good start for Twitter to accept those challenges, but expect that traders will experience lapses on the app as its still in the adjustment and adoption process.

[Oshosondy]

Nobody is forcing you to do anything! I have had a Twitter account for a decade and I haven't made one post! One single post!, although probably I've read a million tweets, not one post, not a retweet, not one like!

Although I think this is about a matter of preference or what someone would dislike or not and this would only be a matter of unending discussion. But I remain to what my opinion is about it, that I do not like Twitter that billions of people are visiting to link a crypto exchange platform to its site.

I am even wondering that a platform (Twitter) that allows 13 years of age people to register on the platform (Twitter) to make such move. Like I said earlier, this is just my opinion.