eToro Adds Bitcoin Cash
November 16 2017 - 7:30AM
ADVFN NewsWire
eToro Adds Bitcoin Cash
- Rapid growth of Bitcoin Cash sees the asset briefly become the
second largest cryptocurrency by market cap
- World's leading cryptocurrencies investment platform adds
Bitcoin Cash
eToro, the leading global trading and investing platform, is
making Bitcoin Cash available to own directly via its platform, as
it seeks to simplify the process of buying cryptos, and help bring
the technology into the mainstream.
After plans for a second 'hard fork' in Bitcoin were shelved
late last week, throwing into question the ability of the
cryptocurrency to scale effectively, the price of Bitcoin Cash - an
alternative to Bitcoin created out of an earlier hard fork - began
to rally significantly. The rally briefly meant that Bitcoin Cash
became the world's second largest cryptocurrency by market cap.
Bitcoin Cash joins over 1,200 instruments on eToro, including
other cryptocurrencies Bitcoin, Ethereum, Ethereum Classic,
Litecoin and XRP. As with other cryptocurrencies on the eToro
platform, users can buy Bitcoin Cash coins.
The launch is part of eToro's wider ambition to simplify
cryptocurrency investing and act as an accelerant for the adoption
of blockchain technology.
Commenting on the launch, Yoni Assia, co-founder and
CEO at eToro, said: "The popularity and
support for Bitcoin Cash has been clear amongst our user base,
which has been asking for eToro to add Bitcoin Cash to the platform
in growing numbers.
"The growth of Bitcoin Cash proves there is space for
healthy competition in the battle for the future of
currency.
"We have long argued that cryptocurrencies represent
an important part of our shared future. We believe the growth in
cryptocurrencies is only just beginning and that the price growth
we are seeing in cryptocurrency assets still does not reflect the
future potential of blockchain technology.
"Cryptocurrencies will be the investment story of the
21st century."
Purchasers of Bitcoin Cash will benefit from eToro's fast
verification procedures, security processes and established
reputation, alongside a user-friendly platform and access to a
community of six million experienced traders and investors.
In July 2017, eToro launched its
Crypto CopyFund trading strategy, which offers investors exposure
to the most popular cryptocurrencies currently available, including
Bitcoin, Dash, Ethereum, Ethereum Classic, Litecoin, and XRP, in
one portfolio.
About eToro
eToro is a leading trading and investing
network, with over 6 million registered members from 140 different
countries and thousands of new accounts opened each day. eToro's
mission is to revolutionise the way people access the financial
markets and make their trading experience more social, simple,
enjoyable and transparent.
Since launching in 2007, eToro has established itself as the
market leader in 'social trading' and recently received recognition
at FinovateEurope 2017 with the Best of Show award. Yoni Assia, CEO
and Co-Founder of eToro is also featured in Financial News' FinTech
40 power list.
A global social platform, it allows members to communicate, copy
and follow each other to harness the wisdom and success of others.
The community element is the first of its kind, making trading
transparent and open, unlike traditional solitary trading
platforms.
eToro is regulated by both CySEC in Europe and the FCA in the UK.
*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.
SOURCE eToro
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