Social trading pioneers eToro have gone live with their own crypto wallet. Already a market leader in embracing cryptocurrency, eToro now provide a wallet from which traders can access cryptos and not only buy and sell the currencies, but convert them too.
The launch will be a phased project. This means the wallet will be initially opened with four cryptos – Bitcoin, Bitcoin cash, Ethereum and Litecoin. It will also see the software released to selected groups of users, and then country by country to ensure the best customer experience is maintained.
Ultimately the facility will be open to all registered eToro customers, and contain the full list of cryptos, as found on the trading platform itself.
Available from Google Play and Apple store, the app will deliver enhanced security but also provide an easy to use interface. Just as eToro made trading far more accessible to retail investors, they will again open up crypto currency trading to a group of traders who may have otherwise found entering the market too complex.
Security And Trust
Multi-signature security means users will be able to view their on-blockchain transaction, without the risk of losing their private key.
The wallet is provided by eToro X Limited (“eToro X”).
eToro X is incorporated in Gibraltar with company number 116348, registered office 57/63 Line Wall Road, Gibraltar (“eToroX”).
eToro X have received an ‘in-principle’ approval from the Gibraltar Financial Services Commission in respect of its application for a Distributed Ledger Technology (DLT) Provider Licence application
eToro CEO Yoni Assia stated: “We believe that crypto and the blockchain technology that underpins it will have a huge impact on global finance. Blockchain has the potential to revolutionise finance and we believe that we will see the greatest transfer of wealth ever onto the blockchain.”
“We believe that in the future all assets will be tokenised and that crypto is just the first step on this journey. Just as eToro has opened up traditional markets for investors, we want to do the same in a tokenised world. The eToro wallet is a key part of this.”
“The eToro wallet today is just the beginning and we will adding a whole host of additional functionality which will include supporting additional crypto and fiat tokens, crypto to crypto conversion, the ability to deposit fiat, payment in store and more.”
The multi-crypto on-chain wallet is another significant step for eToro. Yoni Assia is a firm believer in blockchain technology, as his quote illustrates. eToro will be at the forefront of alt-coin for the foreseeable future and now offer a simplified entry point for anyone looking to trade crypto currency.
Wallet and Exchange services provided by eToro X Limited (‘eToro X’), a limited liability company
incorporated in Gibraltar with company number 116348 and with its registered office at 57/63 Line Wall
Road, Gibraltar. eToro X is a regulated DLT provider licensed by the Gibraltar Financial Services
Commission under the Investments and Financial Fiduciary Services Act with licence number FSC1333B.