World’s leading social trading and investing platform eToro launched its cryptocurrency-to-cryptocurrency exchange desk in the US after months of anticipation. Currently, the service will permit cryptocurrency trading. eToro aims to add other assets to the platform in the near future. The new exchange will be available in 32 states but the full list is not available yet.
The platform eToro also brings its standalone cryptocurrency wallet which is available for both iOS and Android to the US-based users.
eToro will enable users to allocate funds to automatically trade proportionally to the portfolio of another user. Furthermore, eToro also features the company developed “CopyPortfolios.”
eToro will support trading for 13 different cryptocurrencies- Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), XRP (XRP), Dash (DASH), Litecoin (LTC), Ethereum Classic (ETC), Stellar Lumens (XLM), NEO (NEO), EOS (EOS), IOTA (MIOTA), Cardano (ADA), Zcash (ZEC), and Binance Coin (BNB), though the list is not yet confirmed. The wallet will support six currencies, including BTC, ETH, LTC, BCH, XRP, and XLM. However, eToro promises support for more coins in the near future.
In May 2018, eToro first proposed the plans to expand its cryptocurrency exchange operation to the US. The news was announced after the company revealed it had secured $100 million in funding from SBI Group, Korea Investment Partners, and The World-Wide Investment Company Limited.