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eToro rolls out crypto trading platform and wallet in the U.S.

Fri, 08 Mar 2019, 05:24 am UTC

Global investment platform eToro has announced the launch of its platform and cryptoasset wallet in the United States.

According to the official release, the platform will allow U.S. customers from 32 states and U.S. territories to trade 13 cryptoassets, including BTC, ETH, LTC, XRP, DASH, BCH, XLM, ETC, NEO, EOS, ADA, and Zcash, with multi-asset trading to arrive in Q1 2020.

eToro will enable customers with diverse levels of expertise to collaborate with one another to find the best cryptoasset trading strategies in an environment rich with unconventional educational tools. The platform allows users to share their real track record, portfolio, and trades with the community, allowing them 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,” eToro said.

Furthermore, the platform's CopyTrader feature allows users to allocate funds to automatically trade proportionally to the portfolio of another user. This allows users to easily gain exposure to a crypto trading strategy executed by someone who has a proven track record.

The 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.

eToro is also launching its multi-signature wallet which 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.

Yoni Assia, Co-founder & CEO of eToro, said that eToro acts as a bridge between the “the old world of investing and a blockchain-powered future” and allows users to navigate and benefit from the transition to cryptoassets for wealth building.

"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,” he said.

eToro is planning to launch its own cryptoassets exchange, eToroX, on a global basis later this year. In December, eToroX received a distributed ledger technology (DLT) licence from the Gibraltar Financial Services Commission (GFSC).

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