On Tuesday, eToro a global social trading website announced the launch of its digital asset wallet. The company said the wallet will initially support four Cryptocurrencies but there are plans to list more in the future. It has been confirmed that the wallet will be available in Gibraltar, Switzerland, and the European Union. The company also said it will reduce transaction fees to encourage more people to get into Cryptocurrency.
eToro’s Wallet To Support Four Coins
eToro users in Gibraltar, Switzerland, and the European Union countries can now access the platform’s Cryptocurrency wallet. According to a statement released on Tuesday, the new wallet will initially support four Cryptocurrencies namely Litecoin (LTC), BitcoinCash (BCH), Ethereum (ETH), and Bitcoin (BTC). While speaking about the new product, Yoni Assia, the company’s CEO admitted that they are staunch believers of the new technology that they believe will disrupt the financial sector.
eToro To Capitalize On Asset Tokenization
While launching the Cryptocurrency wallet, Assia said that blockchain technology has many areas of application in the financial sector. He added that although the Cryptos were the first to be tokenized, they believe more assets will follow suit in the future. Given the benefits blockchain has brought so far, tokenization of the other assets will also bring more benefits and most will prefer to follow this path.
The executive also said the company has helped investors to get in the traditional markets. They are also determined to do the same in the emerging sector. The company is positioning itself as the ideal platform when asset tokenization of the other assets becomes a reality in the coming years. Assia said they are part of the group that wants to see the tokenization become a reality.
One can download eToro wallet mobile app on Google Play or App Store. Users of this app benefit from the app’s multi-signature security feature that enables them to store their private keys safely. The wallet is not difficult to use as it has a user-friendly interface.
eToro To Add More Coins With Time
While launching this wallet, eToro said that it is planning to add more Cryptocurrencies in the future. The firm added that its Cryptocurrency wallet would introduce the company’s wallet in phases. While speaking on the same, the eToro said that only the Platinum members will transfer Cryptocurrency (BTC) to the new wallet from eToro. More customers and altcoins will be included in this service in the future.
eToro platform has had a friendly approach as far as altcoins and blockchain technology are considered. Despite the various challenges in the sector such as volatility, the platform has maintained a positive outlook towards the Crypto sector. A few months ago, the platform added Cardano (ADA) increasing the available tokens on the platform to eleven then.
The platform has been working towards providing its users with more trading options by regularly adding new coins. Last month, the company announced the listing of Binance coin (BNB) on its platform. The move made eToro the first platform to list the altcoin. Furthermore, it increased the number of coins in its list to thirteen.