One of the best-used trading platforms, eToro, is preparing to open up to US investors. A waiting list opened up this May 15 for American buyers, who can test the eToro features with a demo account.
Initially a forex platform, eToro has expanded to some of the hottest digital assets.
“eToro will continue to focus on simplicity and user-friendliness so that more diverse groups will feel welcomed into the global crypto community. U.S. crypto holders have a strong appetite for diversified portfolios and we’re committed to offering the best tools and assets to help them manage their investments all in one place,” said Yoni Assia, CEO and founder of eToro.
The platform will offer U.S. investors three ways to access the crypto markets: by manually investing in a coin; by automatically copying the trades of other traders on the platform to benefit from their knowledge and investment expertise; or by investing in a Crypto CopyFund which provides a diversified portfolio of major crypto assets.
The biggest potential problem for US traders would be the offer to own the coins themselves. Currently, the status of some assets is disputed, especially in the case of Ethereum (ETH) and Ripple (XRP). However, eToro remains optimistic about the expansion:
“We are quickly moving toward a tokenized world, and digital investment platforms need to provide access to the assets investors want, allow the sharing of knowledge, and make transactions easy. eToro is committed to helping our users become better educated about both the risks and rewards that cryptocurrencies present, thereby enabling them trade and invest responsibly and successfully,” said Guy Hirsch, USA Managing Director, eToro.
The platform has spread the popularity of coins like Ripple, Stellar, and NEO, going beyond the limited offerings for US-based buyers. In a way, eToro could serve as a fiat on-ramp for acquiring digital assets.
Unlike regular crypto exchanges, where bots are sometimes prevalent, eToro has additional options to copy trades, and a closed system where orders must be made manually.