eToro Platform Adds Trading Support for Five Cryptocurrencies
- eToro already offers the five cryptocurrencies through its recently launched investment instrument Crypto CopyFund.
Social trading brokerage and platform provider eToro today announced in a corporate statement that it is offering clients the opportunity to trade in the five most popular Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term directly on its own Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term.
Effective immediately, eToro customers can trade the actual underlying assets of Bitcoin, Ethereum, Ethereum Classic, Litecoin and Ripple. The company is already offering access to the five cryptocurrencies, plus exposure to Dash, through its recently launched investment instrument Crypto CopyFund.
By taking away part of the risk usually associated with trading such exotic assets, eToro allows its clients profit directly from the active exchange rates. Joining over 1,200 assets, trading of the new instruments will be done from the same accounts clients use for other trades, adding a layer of security to the exciting but volatile cryptocurrency market.
The step confirms that there is significant demand amongst traders for such alternative asset classes, with the launch just one more example of a brokerage jumping on the cryptocurrency bandwagon.
The list of brokers that have launched cryptocurrency trading pairs in recent months includes Ayondo, Plus500, Avatrade, FXOpen, XTB, JFD Brokers, Instaforex, and many others. As such, it is likely that more retail platforms will follow suit to avoid falling behind their competitors.
Commenting on the launch, Yoni Assia, co-founder and CEO of eToro, said: "Cryptocurrencies have come of age over the last year, but buying and owning the underlying crypto asset is still very difficult. At eToro, we've already simplified the worlds of trading and investing, and now we have an opportunity to use our experience and expertise to simplify cryptocurrencies. By using our platform, investors benefit from the peace of mind that comes with our long-track record in the cryptocurrency market."
Founder of Litecoin Charlie Lee said: "By making Litecoin available on a safe, simple, and secure platform, eToro will help increase the adoption of Litecoin among a wider audience."
Founder and CEO of Digital Currency Group (DCG) Barry Silbert said: "By showing their support for Ethereum Classic, among others, eToro supports our position that digital currency as an asset class has not only arrived, but is here to stay."
Social trading brokerage and platform provider eToro today announced in a corporate statement that it is offering clients the opportunity to trade in the five most popular Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term directly on its own Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term.
Effective immediately, eToro customers can trade the actual underlying assets of Bitcoin, Ethereum, Ethereum Classic, Litecoin and Ripple. The company is already offering access to the five cryptocurrencies, plus exposure to Dash, through its recently launched investment instrument Crypto CopyFund.
By taking away part of the risk usually associated with trading such exotic assets, eToro allows its clients profit directly from the active exchange rates. Joining over 1,200 assets, trading of the new instruments will be done from the same accounts clients use for other trades, adding a layer of security to the exciting but volatile cryptocurrency market.
The step confirms that there is significant demand amongst traders for such alternative asset classes, with the launch just one more example of a brokerage jumping on the cryptocurrency bandwagon.
The list of brokers that have launched cryptocurrency trading pairs in recent months includes Ayondo, Plus500, Avatrade, FXOpen, XTB, JFD Brokers, Instaforex, and many others. As such, it is likely that more retail platforms will follow suit to avoid falling behind their competitors.
Commenting on the launch, Yoni Assia, co-founder and CEO of eToro, said: "Cryptocurrencies have come of age over the last year, but buying and owning the underlying crypto asset is still very difficult. At eToro, we've already simplified the worlds of trading and investing, and now we have an opportunity to use our experience and expertise to simplify cryptocurrencies. By using our platform, investors benefit from the peace of mind that comes with our long-track record in the cryptocurrency market."
Founder of Litecoin Charlie Lee said: "By making Litecoin available on a safe, simple, and secure platform, eToro will help increase the adoption of Litecoin among a wider audience."
Founder and CEO of Digital Currency Group (DCG) Barry Silbert said: "By showing their support for Ethereum Classic, among others, eToro supports our position that digital currency as an asset class has not only arrived, but is here to stay."