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eToro in the US is Finally Here

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Formed in 2006 by brothers Ronen and Yoni Assia, eToro has evolved into one of the world’s largest multi-asset trading platforms. It pioneered the introduction of cryptocurrencies as CFDs and provided access to this new market for the masses.

Their most recent move was yesterday when they launched the eToro social-trading platform in the US, giving investors the opportunity to share trading strategies and mimic those who are profitable. Initially traders are able to buy and sell 13 cryptocurrencies but more will be rolled out in 2019, both more cryptocurrencies and asset classes. It is currently avalaible in 32 states around the US.

The US market is a leader in the crypto industry with many active traders however they have not had the chance to try eToro's features, which is bound to have a huge affect on user performance and crypto uptake.

Yoni Assia, eToro CEO, said: "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."

How does it work?

It's all about transparency. Each users account is automatically set to share their performance data (whilst this can be turned off). The data includes the users track record, when they open and close trades and their whole portfolio.

Having a successful trader or investors performance data in front of you means that if you want you can simply copy their activity, ideally profiting from their expertise. There is also a CopyTrader feature that allocates a proportion of your funds to copy everything another user does.

This not only benefits the less experienced investors but those who are being copied and have more expertise will receive monetary benefits with the more followers they have. This approach will help to galvanize an already tight knit community as well as introducing cryptoassets to a new audience.

eToro App

As highlighted, eToro has led the way in the global fintech movement, it has a firm belief that the blockchain industry will disrupt the traditional global financial system and that at some point in the future, all assets will become tokenized.

The company is positioning itself to be the leader when it comes to helping users transfer their wealth onto the blockchain. This year they plan to launch their own cryptocurrency exchange which will make transactions easy and safe for users. eToroX is currently in its beta stage but expect to see this revolutionary platform live before not too long.

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