EToro to launch cryptocurrency offering in US

eToro to Launch Cryptocurrency Offering in US Market

However, there is another way to invest in cryptocurrencies by utilizing a revolutionary social trading approach that enables users to interact with each other, exchange trading information, copy other traders or be copied by them. It is important to mention that there is now a debate about blockchain platforms, cryptocurrencies and tokens and how to regulate them. I expect that thousands of U.S residents will flock to the social trading app, as many current exchanges lack the news feed and social aspect that eToro offers.

The announcement, which eToro made today, May 15, 2018, at Consensus in New York City, comes on the heels of a $100 million funding round that eToro received in March 2018, bringing its total funding to $162 million.

Investment platform giant eToro is going to launch a cryptocurrency offering in the U.S. The platform will also provide users access to a community feed and tools, letting them engage in conversations about cryptocurrencies and follow the investment strategies of other USA users.

EToro is regulated in Europe by Cyprus Securities and Exchange Commission and regulated in the United Kingdom by the Financial Conduct Authority.

Founded in 2007, eToro now has over 10 million registered users trading more than 1,200 instruments, including Apple, Microsoft, Snap and Facebook, on the platform.

"eToro will continue to focus on simplicity and user-friendliness so that more diverse groups will feel welcomed into the global crypto community".

From today, US investors can visit eToro.com to join the waiting list ahead of the launch of the platform. Etoro intends to integrate several more cryptocurrencies throughout 2018.

EToro will offer US investors three ways to access the crypto markets: manually invest in a coin, copy the trades of other traders on the platform, benefiting from their knowledge and investment expertise, or by using a Crypto CopyFund to access a crypto portfolio. The second is "by automatically copying the trades of other traders on the platform to benefit from their knowledge and investment expertise". The third is "by investing in a Crypto Copyfund which provides a diversified portfolio of major crypto assets". Currently, 70% of its users now trade some form of digital currency. Moreover, since there are many currency exchanges and trading platforms designed for buying and selling cryptocurrencies, the decision-making process could be daunting and time-consuming, thus, many early traders may be discouraged even before making their first trade.

Currently, the aforementioned ten cryptocurrencies are already being offered on the platform for non-US users. 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. Let us know in the comments section below.

Images courtesy of Shutterstock, Medium, and Etoro.

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