US customers can now trade 13 cryptoassets across 32 states, with further assets to be added during 2019. The world’s largest social-trading platform pioneered supporting cryptocurrencies on its platform and now has expanded its reach to the US. This blockchain vision continues to disrupt the traditional financial system and puts eToro at the forefront of the global fintech revolution.
eToro to the US means that the award winning social-trading platform they developed can be used by investors to copy the trading strategies of the most prolific traders and investors, which in turn makes those copying profitable.
The idea is simple, a user will automatically share their performance stats with the whole eToro community. The stats include a users track record (as a percentage), their portfolio and their trade choices (including open and close price and times).
This information enables users to make informed decisions on their trades or investments. Another feature that is hugely beneficial is the ‘CopyTrader’, this allows the user to allocate a portion of their funds to simply copying an expert trader.
This not only benefits the less experienced investors but those who are being copied and have more expertise will receive monetary benefits with the more followers they have. This approach will help to galvanize an already tight knit community as well as introducing cryptoassets to a new audience.
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.