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Social Trading Platform EToro To Launch Crypto Offerings In The US

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Israeli social trading platform eToro is officially launching cryptocurrency offerings in the U.S. later in 2018. It will be rolling out a crypto wallet starting with selected users this weekend and will be launching a crypto exchange later this year.

In his keynote speech at the Consensus 2018 conference in New York, eToro CEO Yoni Assia announced that the company "will be opening to U.S customers and will be releasing a crypto wallet on eToro this week to selected customers."

At launch, the eToro crypto exchange will enable users in the U.S. to invest and transact in ten different cryptos: Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, NEO, Stellar, Dash and Ethereum Classic.

eToro said clients will be able to transfer and withdraw funds using the new mobile crypto wallet. Both the exchange and wallet will be fully launched sometime later this year.

eToro will also be introducing its unique copy trading mechanism, which will enable clients to automate their trading by allocating some of their funds to replicate another investor's activity and copying every move they make in real time.

eToro's announcement to enter the U.S. market comes nearly two months after it raised $100 million to support their global expansion and the development of blockchain-backed technologies.

eToro disrupted the world of trading to make trading accessible to anyone, anywhere, and reduce dependency on traditional financial institutions. It has more than 9 million registered users and an array of innovative trading and investing instruments.

After pioneering Bitcoin trading in 2013, eToro expanded its cryptocurrency offering in January 2017, enabling clients to trade and invest in Ethereum, Ripple, Litecoin, and other popular cryptocurrencies.

On the eToro platform, a trader can create a portfolio with cryptocurrencies, stocks, commodities, Exchange Traded Funds or ETFs and more. It plans to build bridges between traditional financial markets and cryptocurrency markets.

by RTTNews Staff Writer

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