EToro Brings Crypto Trading to US Market

Lloyd Doyle
May 17, 2018

Speaking about the company's marketing strategy, Assia shared: "We will start by organically building a users' waiting list".

It remains unknown what the waitlist now looks like for U.S traders wanting to get on the upcoming platform, but I'm sure news will continue to surface about eToro's expansion. It is important to mention that there is now a debate about blockchain platforms, cryptocurrencies and tokens and how to regulate them. Etoro intends to integrate several more cryptocurrencies throughout 2018.

eToro, the multi-asset broker for retail investors that in March raised $100m for expansion into new markets, plans to launch a cryptocurrency exchange.

eToro also provides a very similar social network component to its platform, like Facebook and Twitter. eToro users are able to follow influential crypto or stock traders and can customize the topics in their news feed. Guy Hirsch has been appointed US Managing Director responsible for bringing eToro's cryptocurrency offering to the United States.

Nevertheless, despite its easy-to-use o registration process, eToro is a safe and trustworthy platform on which to trade as it adheres to the strictest of regulations imposed by Cyprus Securities and Exchange Commission, Financial Conduct Authority, and the National Futures Association.

EToro now offers ten cryptocurrencies (Bitcoin, Ethereum, Bitcoin Cash, XRP, Litecoin, Ethereum Classic, Dash, Stellar, NEO and EOS) with plans to add more coins over the coming months. eToro's cryptocurrency to cryptocurrency exchange will launch later this year enabling customers to trade coins.

The platform will offer USA investors three ways to access the crypto markets: by manually investing in a coin; by automatically copying the trades of other traders on the platform to benefit from their knowledge and investment expertise; or by investing in a Crypto CopyFund which provides a diversified portfolio of major crypto assets. The first way is "by manually investing in a coin". "Once you invest in a Copyfund, your capital is professionally managed by Etoro's investment committee".

In January a year ago, the platform added cryptocurrencies. Currently, 70% of its users now trade some form of digital currency. During the year, the company said that it will be introducing more virtual currencies to its platform. "Those features let users create a public profile of their investments, which in turn allows others on Etoro to track and copy their trading decisions".

The plans of expansion comes at a time where there is much higher demand for digital assets than before. With such a vast sum of money raised here, you can assume that this isn't just a standard move and the development of a new office, it does seem that eToro have some big plans to hand.

Images courtesy of Shutterstock, Medium, and Etoro.

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