eToro has entered the US market, the world’s largest multi-asset trading platform was the first to bring cryptocurrency CFDs to the masses and now they’ve brought their revolutionary social platform to the US.
The US has always been a key feature in the crypto market but this is likely to evolve further with the introduction of a platform that allows for the sharing of trading strategies and users to copy the profitable investors. Available in 32 states, it offers 13 cryptocurrencies including Bitcoin, Ethereum, Ripple, etc, with more expected to be added through 2019.
The functionality is simple and allows both new and expert investors to easily navigate the platform. Each account shares performance related information to the eToro community, this includes an investors track record (as a percentage), their portfolio and when they open and close a trade.
The information on show can help users make more informed decisions on their investments whilst the CopyTrader feature actually allows the user to allocate funds that will trade to the portfolio of another user.
This benefits both novice and expert investors. The reason being that the novice investors can copy the experts and simply profit from their trades. The experts then profit by being followed, the more followers the more they will earn. This automatically brings the already close knit community closer together and also bringing new traders to the crypto industry.
The US market is huge and whilst there are crypto traders active there, they have no access to the functionality that eToro offers.
eToro CEO, 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.”
As highlighted, eToro has led the way in the global fintech movement, it has a firm belief that the blockchain industry will disrupt the traditional global financial system and that at some point in the future, all assets will become tokenized.
The company is positioning itself to be the leader when it comes to helping users transfer their wealth onto the blockchain. This year they plan to launch their own cryptocurrency exchange which will make transactions easy and safe for users. eToroX is currently in its beta stage but expect to see this revolutionary platform live before not too long.