eToro Launching Crypto Trading In United States
In a move that is sure to make many traders happy, the eToro social trading broker has announced it is launching cryptocurrency trading in the United States.
While eToro is well known for a social, “copy-trade” system for investors to invest in Forex and CFDs in a wide range of stocks, the company did recently add a Bitcoin CFD option for its members. But in an unprecedented move, eToro has now stated that the company’s United State’s subsidiary, with Guy Hirsch as Managing Director, will tap the U.S. cryptocurrency trading market which is wide open.
And while there are a few brokers allowing crypto trading in the United States, the loose regulations and the fact that these brokers are not licensed or regulated by any entities has frightened off the majority of traders.
So where to go for safe crypto trading?
The answer now is eToro!
Why eToro Will Be A Trusted Source To Trade Cryptocurrency In The United States
United States traders essentially have one highly regulated broker in the country… Nadex. And Nadex, at this point, does not have cryptocurrency trades in its portfolio. Not to mention, the broker is quite technical and many new traders do not feel comfortable with their platform.
eToro was founded in 2006 by Yoni and Ronen Assia along with David Ring in Tel Aviv, Israel. Growing steadily, eToro gained a respected reputation and was given licensing by CySEC in Cyprus, the FCA in the United Kingdom and is also registered as a National Futures Association member in the United States. As such, along with their headquarters in Tel Aviv, the company maintains offices in Limassol, Cyprus and in London, England.
We are still waiting to hear where the U.S. office will be located.
Similar Platform
Just like their European counterparts, United States traders in cryptocurrency will have the advantage of the blockchain based copy-trade feature that eToro initiated when they partnered with CoinDash.
Traders can either automatically copy the trades of other traders on the platform or invest in a crypto CopyFund which provides a diversified portfolio of major crypto assets.
The company will list 10 cryptocurrencies to start with and more are in the plans:
The CEO of eToro, Yoni Assia had this to say… “eToro is one of the leading online brokers that combines multiple asset classes. We see tremendous opportunities in the US crypto space. We believe that an expansion into the US is only a natural next step for our company. We are looking at all the required regulatory processes in order to operate in the US. Our recent $100 million find raising effort allows us to expand geographically and enabled us to setup eToro in the US as well as to launch our crypto to crypto exchange and wallet. We have always thought that this is a very big endeavor especially for a company that is coming from Europe into the US, but we have the resources and the passion to execute our plans.”
Conclusion
It is what United States traders have been looking for… A safe and secure crypto trading environment.
U.S. citizens, you have the option to register ahead of the launch. And you will have the ability to test your trading methods using the eToro demo model.
Yes, there is now a way to safely trade crypto in the U.S.A.