eToro, a global multi-asset trading platform with more than 10 million registered users, announced the launch of its platform and cryptoasset wallet in the United States.
At eToro, you can share your real track record, portfolio, and trades with the community, allowing users to engage with each other on trading ideas that are executed using real dollars. For those new to crypto trading, the community and educational resources introduce users to this new asset class and the risk profiles involved in it.
Yoni Assia, cofounder and CEO of eToro, said, “For the first time, Americans can collaborate with other crypto traders when making buying and selling decisions. Users can adjust their trading strategies by watching and learning from others on the platform.
‘When I founded eToro, I envisioned a community where people could trade, invest and share their knowledge in a simple and transparent way. eToro also acts as a bridge between the old world of investing and a blockchain-powered future, helping our users navigate and benefit from the transition to cryptoassets for wealth building. People create the eToro experience and now Americans will play a major role in shaping our community and future. ”
Santo Politi, general partner at Spark Capital said, “Since Spark Capital’s initial investment in 2012, we believed that eToro would lead the charge in disrupting the financial services market. We have watched the growth and success of eToro for the past seven years and, through Yoni’s leadership, the organization continues to innovate and thrive amongst the competition. eToro’s launch into the U.S. market marks a significant milestone for the company as it builds a leadership position in the online trading space.”
The platform’s CopyTrader feature allows users to allocate funds to automatically trade proportionally to the portfolio of another user. This allows users to gain exposure to a crypto trading strategy executed by someone who has a proven track record. eToro’s CopyPortfolios feature bundles together assets under one selected trading strategy, curated by eToro’s own analysts.
Within the U.S., three cryptoasset CopyPortfolios will be available to traders at launch. As eToro adds new asset classes to the platform later this year, additional CopyPortfolios will be offered. Any eToro customer with an established track record who meets certain eligibility requirements may be copied and compensated for their performance, subject to risk analysis and supplemental evaluation.
The eToro wallet provides multi-coin support and a simple user interface, making it easy to send and receive supported coins. At launch, the eToro wallet will support BTC, ETH, LTC, BCH, XRP, and XLM, with more cryptoassets available in the near future. Users can log into the wallet with their existing eToro accounts and transfer coins from their trading accounts to hold them securely in their wallets. Within the wallet, users can convert between different coins with a click of a button. They can also easily and securely send and receive crypto through a QR code or by sharing their wallet address.
For more than a decade, eToro has been a leader in the global fintech revolution and a disruptor in the blockchain industry. eToro believes that in the future, all assets will be tokenized which will have a huge impact on global finance and, therefore, a major focus for the firm. To that end, eToro will be launching its own cryptoassets exchange, eToroX, on a global basis later this year. Blockchain has the potential to revolutionize finance and eToro believes that the greatest transfer of wealth ever will happen onto the blockchain.