eToro Investing Platform Launches Crypto exchange

eToro Investing platform launches crypto exchange and expands into the U.S.

The Israel based eToro investing platform has opened their doors to investors in the U.S  who want to trade cryptocurrencies such as bitcoin, ethereum, Litecoin and many other top coins. 

CEO, Yoni Assia announced in press release that consumers worldwide should have access to tools they need to trade in the crypto market, regardless of expertise.

In the past, eToro’s crypto trading was very limited – in 2014 it introduced contracts for difference (CFDs) in which users could bet on the direction of bitcoin’s price without touching the digital asset.

Early in 2017, the platform allowed users to trade XRP, ether and Litecoin but didn’t allow deposits and withdrawals of crypto from their accounts.

Since then eToro has decided to launch a proper crypto exchange with mobile wallet this year. The platform will host a bonus OTC trading option for institutional investors. 

The platform differs from others as top traders will profit through transparent portfolios and enabling other traders to emulate their trades. 

The platform is best known for its social features which are similar to Facebook and Twitter. Users can follow top traders in the market and customized news feeds.

Managing director of eToro, Guy Hirsch told CoinDesk:

“If the Market is bitcoin, then every time there is a mention about bitcoin by some other user you’ll be able to see that in your news feed. You’ll be able to comment on that, share that or like it. Similarly, you can start a conversation about bitcoin, then other people who have bitcoin on their watch list will be able to see your post”

The platform will invite top U.S. traders to join the programme which already has 250 traders who have thousands of copy cat followers.  

The eToro investing platform was founded in 2007 and has been bullish about bitcoin since its inception.

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