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Fresh off its $100 million venture round, social trading platform eToro has announced it will be expanding its cryptocurrency operation to the US later this year.
In addition to its foray into the US market, the company revealed it will also be launching its own cryptocurrency exchange desk and a dedicated mobile wallet to store your crypto-assets.
eToro is opening up the onboarding process with a waiting list for anyone interested in its upcoming US-based offerings. This will give users the option to verify their registration prior to the official launch as well as a chance to test out a live demo of the platform.
“Consumers all over the world should have access to the tools they need to participate in cryptocurrency markets, regardless of their expertise. We’re excited to make our platform available to US users,” said eToro CEO and co-founder Yoni Assia. “Within the platform, our US users will find rich knowledge and insights into how to effectively trade and invest in cryptocurrencies.”
Following the addition of EOS to its platform earlier this year, eToro boasts a total of 10 cryptocurrencies on its platform. The list includes: Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Ripple (XRP), Dash (DASH), Litecoin (LTC), Ethereum Classic (ETC), Stellar Lumens (XLM), and NEO (NEO). Once the platform kicks off, all of these will be available for trading to US users.
eToro further notes that it will likely add several more coins to its catalog by the end of the year.
As expected, the company will support its full range of investment tools. For the record, eToro lets users make investments manually (by doing their own research), but it also makes it possible to automatically copy the trading activity of more successful traders or simply invest in a Crypto CopyFund, which spreads your investment across several different cryptocurrencies.
“eToro will continue to focus on simplicity and user-friendliness so that more diverse groups will feel welcomed into the global crypto community,” Assia added. “US crypto holders have a strong appetite for diversified portfolios and we’re committed to offering the best tools and assets to help them manage their investments all in one place.”
The expansion into the US market is an important step for eToro, which already boasts over 10 million users in more than 140 countries, including the UK, Germany, Australia, Switzerland, and Spain.
It remains unclear when eToro will officially make its debut on US soil, but Assia notes that currently the focus is on making sure that the operation is fully compliant with local regulations.
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This post is brought to you by eToro. All trading involves risk. Only risk capital you are prepared to lose. This content is intended for educational purposes only, and shouldn’t be considered investment advice.