There are many exchanges developed specifically for cryptocurrency trading. However, not every exchange is accessible to United States cryptocurrency traders. This is one of the reasons why Coinbase has been able to maintain its grip in the United States market for many years. eToro is a global cryptocurrency trading exchange. However, until now, residents of the United States could not use eToro to trade crypto assets or store their tokens in the eToro cryptocurrency wallet. The exchange already has over 10 million active users from around the globe making it the perfect cryptocurrency exchange to present Coinbase with tough competition.
United States Residents Can Now Use eToro For Cryptocurrency Trading And Coin Storing
Keep in mind that these services only extend to traders in 32 states within the United States. They can use all the resources available on eToro to store, send and receiving cryptocurrency assets. The digital assets that are already available for trading on eToro are BTC, LTC, XRP, BCH, NEO, ETH, EOS, ADA, ETC, Zcash, XLM, and DASH. The cryptocurrency exchange announced that it would make more tokens available in the future. The announce was made on the 7th of March and it was a welcome development for traders in the United States. The platform will allow traders in the United States to interact with other traders from around the globe.
Bitcoin (BTC) Price Today – BTC / USD
The global cryptocurrency trading platform allows users to mix with other users and share their real-time records, trades, and portfolios. It’s not just about trading, it’s an educational experience. With eToro, you can learn new and improved trading strategies as well as teach other traders some strategies. During the announcement, the co-founder of eToro Yoni Assia 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.”
The General Partner at Spark Capital, Santo Politi was also excited about this new opportunity for Americans. In Politi’s words:
“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.”
What Americans Should Expect From eToro
- 3 CopyPortfolios
eToro will allow traders to use three portfolios to allocate funds using the cryptocurrency trading strategy of their choice. These strategies are developed by analysts on eToro and can be used by traders to make the best deals. This feature is a combination of strategies for a selected number of assets. The strategies are gotten from long-term expert traders who are compensated for their performance after supplemental evaluation and risk analysis. United States residents will have assets to just three CopyPortfolios at first. However, as more assets are added, more CopyPortfolios will be added.
This feature is also for the allocation of funds. However, the funds will be automatically generated and will be proportional to the portfolio of other users. This offers exposure and increases the chances of fair and successful trading. You’ll get access strategies used by expert traders on the platform.
- Wallet Access
Americans can now send and receive all six cryptocurrency assets (BTC, ETH, XRP, BCH, XLM, and LTC) using the eToro wallet. The wallet can be used for transfer of funds, and conversion of coins. So, instead of sending coins in from another wallet by another service provider, they can use the eToro wallet. The wallet provides support for various coins and has a multi-sign feature that offers additional protection for users. The multi-sign feature offers more protection because a single person doesn’t hold the private keys. Clients will not need to open a new account to get access to the wallet. They can easily use their existing accounts to access the wallet.
Guy Hirsch, the United States managing Director at eToro said that the cryptocurrency exchange is going to be instrumental in revolutionizing the FinTech industry. In his words:
“eToro will play a lead role in transforming the financial services industry. We’re doing that successfully on a global scale and we are thrilled to finally be able to bring our offering to the U.S. audience.”
The FinTech industry is rapidly evolving and eToro is at the center stage of this evolution. For over ten years, the cryptocurrency exchange has been taking the lead in the blockchain FinTech space. The company believes that asset tokenization is going to change the game in the global financial space. This is why it is one of its primary initiatives.
Cryptocurrency trading on eToro is different from trading on other exchanges. Users come together in a community and share their track records and portfolios with one another. eToro is already transforming the industry
To start cryptocurrency trading on eToro, visit www.etoro.com/en-us/.