eToro, an Israeli social investment platform, launched a cryptocurrency trading platform in the USA. The firm announced that the new platform would allow the US customers to exchange 13 uncertain cryptocurrencies from 32 states. Even multi-asset trading is scheduled for the first quarter of next year.
The “social” model of eToro allows users to replay the rates of other traders through the CopyTrader and CopyPortfolios functions. A company representatives said that the cryptocurrency trading platform will also offer three Copy Portfolios at launch.
“Users can collaborate with other crypto traders when making purchases and sales.They can also adjust their trading strategies by observing and learning from others on the platform.” said Yoni Assia co-founder and CEO of eToro. The firm said that any client who has an “established” track record “may be compensated for the work, subject to risk analysis, and additional assessment.”
The company has also launched multi-signature cryptographs in the US which supports six cryptocurrencies – bitcoin (BTC), bitcoin cash (BCH), ether (ETH), litecoin (LTC), XRP and Stellar (XLM). The company will support more cryptocurrency in later years.
According to the company the existing eToro users will be able to directly enter the wallet in order to store and perform operations with cryptocurrency. They will also be able to “convert different coins at the touch of a button”. Cryptocurrencies can be sent and received using a QR code using the wallet address. eToro announced its plans to launch a crypto exchanger and a mobile wallet in the USA in May for the first time.. At the same time the company stated that it would allow trading 10 cryptocurrencies which are following- bitcoin, ethereum, litecoin, XRP, dash, bitcoin cash, stellar, ethereum classic, NEO, and EOS.
eToro also announced that it will launch the eToroX crypto exchanger for a global audience later this year.