eToro, the global trading platform with 10 million+ registered users worldwide, is now officially available to U.S. customers.
Social Trading Giant eToro Adds Crypto Buying and Selling in 31 US States https://t.co/ewtYZe5Ik0 via @CoinDesk #Crypto #SocialTrading #Bitcoin $XRP $XLM $ETH $BTC
Yoni Assia () March 7, 2019
eToro will be offering US customers in 32 states and territories the option to buy and sell Dash, BTC, ETH, LTC, XRP, BCH, XLM, Ethereum Classic, NEO, EOS, ADA and Zcash, and more coming soon. The platform will also feature CopyTrader and CopyPortfolios, which will allow users to easily copy the trading patterns and portfolios of other successful investors. The platform will launch with 3 portfolios available for copy, but will also incentivize the creation of more by rewarding any investors with established track records. Yoni Assia, Co-founder & CEO of eToro highlighted how the attributes of eToro help foster a community around cryptocurrency.
“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."eToro will also be releasing a "highly-secure, multi-signature wallet" for "BTC, ETH, LTC, BCH, XRP, and XLM, with more cryptoassets available in the near future". A major feature of the wallet will be the ability for users to "transfer coins from their trading accounts to hold them securely in their wallets" and "convert between different coins with a click of a button".
Increasing liquidity for a rising consumer class
Previous studies by eToro illustrate that the younger generation prefers cryptocurrencies over traditional investments and other individuals on the margin would be willing to do so if there were more structured ways to enter cryptocurrency. eToro is helping foster this interest by developing a structured and robust trading platform where consumers not only can invest easily, but also learn more about the technology and how to manage their own wealth. Then the integration of the wallet with the trading platform will cause more consumers to become familiar with using cryptocurrency on the go and spending at merchants for smaller, everyday items.
The greater liquidity that consumers will now have access to will then allow them to feel more comfortable spending their cryptocurrency since it is easier to acquire more and merchants will feel more comfortable accepting cryptocurrency since it is easier to sell. This will soon cause consumers and merchants to figure out which cryptocurrencies are easier to spend and which are harder. This leads to another eToro study that highlighted how Dash is significantly undervalued since it is achieving adoption around the world, notably in emerging markets and merchant solution such as with Alt Thirty Six.
Dash converts liquidity into usage
Dash has been focusing on getting more merchants to accept Dash around the world, which is a major step to adoption since cryptocurrency can only do so much to grant monetary and financial independence without the ability to spend it as money. Then Dash is also focusing on teaching consumers how to use Dash and cryptocurrency properly so they do not lose their private keys and are comfortable finding merchants where they can spend Dash. However, liquidity is the bottleneck since some users in some countries just have difficulties accessing Dash via exchanges, which limits the consumer and merchant adoption. Now, eToro is starting to change that by increasing the popularity and the access to easy purchasing and selling of cryptocurrency. As the eToro study mentioned, Dash is undervalued for its offerings, but since liquidity is starting to increase, there is increased opportunity for individuals to use Dash more and recognize its value.
Posted from Dash News : https://dashnews.org/etoro-launches-crypto-trading-platform-in-u-s-to-expand-cryptocurrency-liquidity/