eToro Adds Stellar Onto Platform as Investor Appetite for Crypto Grows
LONDON, February 14, 2018 /PRNewswire/ --
- eToro users can now invest in eight different crypto assets
- Decision comes in response to growing demand for diversification opportunities
- Users own the asset and benefit from eToro's established checks and procedures
eToro, a global trading and investment platform with over nine million users, has today added Stellar on its platform, bringing the total number of cryptocurrency assets available on the site to eight.
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The move comes as investors increasingly turn their attention to altcoins, seeking new investment opportunities and diversification for their portfolios.
Stellar, which is an open-source protocol for exchanging money, will now be available alongside Bitcoin, Ethereum, Bitcoin Cash, XRP, Litecoin, Ethereum Classic and Dash.
In July of last year, eToro announced that users on its platform would own the actual asset, rather than a CFD, recognising the growing interest among users to buy and hold the asset, rather than speculate on price movements.
The cryptocurrency will also be added to eToro's Crypto CopyFund, which uses CFDs to enable investors to diversify across all available cryptocurrencies (weighted by market cap) with just one click.
eToro users benefit from eToro's verification procedures, security processes and established reputation within the crypto community.
Commenting on the launch, Yoni Assia, Co-founder and CEO at eToro, said: "If 2017 was the year of Bitcoin, 2018 will be the year of altcoins. As investors seek new opportunities and diversification within their portfolios, attention will shift away from the mainstream cryptos towards new challengers in the market.
"We're constantly identifying and assessing new concepts as they emerge and are committed to bringing the best crypto assets onto our platform for our users to invest in. We're excited to have Stellar now available and we look forward to seeing how the market develops in 2018 following a very successful 2017 for the crypto community."
Jed McCaleb, co-founder of Stellar Development Foundation, added: "The development of blockchain technology is bringing new innovations to the market almost daily. Platforms such as eToro are an essential component in bringing together innovative projects and early-adopters. We are delighted to be working with a leading crypto platform to make Stellar available more widely."
About eToro [https://www.etoro.com ]
eToro is a global trading and investment platform. The award-winning platform connects you with a community of 9 million users, with expertise in everything from short-term trading in Bitcoin to long-term investing in bank stocks. Learn from and copy other users' investment strategies and become a leading trader. eToro is the next-generation hub for traders and investors of all shapes and sizes.
*All trading involves risk. Only risk capital you're prepared to lose. Past performance is not an indication of future results. Trading history presented is less than 5 years and may not suffice as basis for investment decision. This is not investment advice.
Buying cryptocurrencies is not appropriate for everybody. Cryptocurrencies are not regulated. They are not backed by governments or central banks. Cryptocurrencies are backed by technology and trust. You will not benefit from the protections available to clients receiving regulated investment services, such as access to the Financial Services Compensation Scheme (FSCS) and the Financial Ombudsman Service (FOS) for dispute resolution. You are at risk of losing all of your invested capital.
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