eToro, a unique social trading platform, is reportedly venturing itself into the cryptocurrency trading soon when introducing its platform in the USA. This according to declarations made by its CEO, Yoni Assia in an interview given to the website Finance Magnates today.
eToro is an online asset trading platform with offices in Israel and Cyprus. Its unique platform is part of a trend called “social trading”. In the platform, every trader is known by other traders and all his stock movements are public. Then, other less experienced traders can mimic the investment portfolio of any professional trader, and profit from the social environment.
They are launching their trading platform in the USA, and they will start doing it by offering a new platform that will venture in cryptocurrency trading with its characteristic social approach. Yoni thinks that eToro will open the doors of trading to a new audience, with users being guided by professional traders on the platform. About this, Yoni stated:
“ETORO WILL CONTINUE TO FOCUS ON SIMPLICITY AND USER-FRIENDLINESS SO THAT MORE DIVERSE GROUPS WILL FEEL WELCOMED INTO THE GLOBAL CRYPTO COMMUNITY.”
Yoni Assia comments that the decision of expanding their operations from Europe to America was no easy choice, but after collecting more than 100 million dollars fresh to invest, they decided to move forward with the task ahead. About the differences and the adaptation to a new regulatory framework, he said that they are doing its best to comply with US regulations, and commented that eToro is already registered in the USA as a money transmitter, a kind of denomination that all trading and exchange businesses must have.
Their platform will go live soon, offering the new users the possibility of signing a waiting list and start trading into demo accounts. The cryptocurrencies that will be available to trade since the first day are Bitcoin, Ethereum, Litecoin, Ripple, Dash, Bitcoin Cash, Stellar, Ethereum Classic, NEO, and EOS, but they plan to add more in the future.