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Robinhood Reports Fourth Quarter and Full Year 2021 Results

Robinhood Reports Fourth Quarter and Full Year 2021 Results

The social investing and trading platform eToro announced that it is launching its website in U.S. The platform, which has operations in more that 140 nations, is now available in 30 states and two jurisdictions with plans to expand across the U.S. after receiving the necessary regulatory sign-offs.



This U.S. platform will only be able to support trading for crypto assets at launch, but eToro plans to offer additional asset classes over the course of the next twelve months. In eToro's existing markets, the company's 10 million+ users are able to hold and trade more than 1500 different asset classes as well as markets including bonds, stock along with cryptocurrencies, fiat currencies commodities and more.



Even though eToro is able to support more advanced trading strategies -- like short-selling , as well as the use leverage -- the platform's transparency and engagement features can be great tools for those who are just beginning to understand the capital markets and understand how to trade.








EToro is equal parts trading platform, social network as well as an educational tool. Everyone who joins eToro can see, comment and copy the trading activity of other members of the network, in addition to their actual returns and losses up to date (though only in a percentage-based basis to safeguard confidential financial information). While studying other traders' strategies and trading partners, members can choose to invest in virtual currencies to learn and practice before making a decision to invest their own money.



Additionally, based upon a trader's history, other users can also choose to replicate their portfolio with eToro's "CopyTrader" feature, which allows for a proportional allocation of funds to the trader's portfolio, but also automates take any trade the copied investor's makes. Furthermore they are also able to comment, share or interact with certain users, assets or markets -- they can also participate in the latest discussions and news in their area of interest.



Despite being limited to crypto when it first launched, most of the functions available on the existing global markets will be available throughout the U.S. And alongside its trading platform, the company is launching its own digital multisignature eToro wallet. This wallet will let users can keep, send and receive multiple coins using a variety of cryptocurrency.



By using their eToro accounts U.S. users can move cryptocurrencies onto and through their trading account. In what is bitcoin x , they is able to easily convert between them, as well. The wallet is initially able to support Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple and Stellar for U.S. users, but the company plans to make additional currencies to be available in near future.



EToro users can transact in exchange for sharing trading activities and performance of their portfolios with other EToro users which allows users to exchange strategies that are then executed with real dollars









The expansion plan, however, doesn't come without risk. EToro moves into a highly competitive market -- in conjunction with highly-rated trading platforms like Coinbase and Robinhood -and is now launching a Crypto-only version amid the chaos of "crypto winter," where massive weakness has plagued the sector.



A significant part of the plan is related to the fact that crypto is a more relaxed option in terms of licensing to other asset classes in the strict and highly fragmented U.S. regulatory environment. The launch plan of eToro's is also deeply rooted to the firm's belief that the huge market potential due to the tokenization and tokenization.



"We think [the tokenization of assets] is a bigger opportunity than the internet and we have to be in the U.S. when it happens, given it's the financial hub in the world," eToro founder and CEO Yoni Assia stated in a interview with TechCrunch.



EToro has the long view with its business plan and isn't affected by the current cryptocurrency weakness. Assia said that the market's weakness is similar by comparing it to the dotcom bubble, even though it crashed, the internet was still a major factor and perturbed the economy over the long-term. Like the internet, Assia as well as eToro believe that there is more than enough room for multiple winners within the larger crypto-related ecosystem.



The company was the first market to offer support for Ethereum and Ripple and is confident that when similar currencies and the future generation of investors mature, eToro will be there to assist them in any way they require.



"When I founded eToro, I envisioned a community where people could trade, invest and share their knowledge in a simple and transparent way," said Assia. "EToro also acts as a bridge between the old world of investing and a blockchain-powered future, helping our users navigate and benefit from the transition to crypto assets for wealth building."



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