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The social trading and investing platform eToro announced it will officially launch it's platform across the U.S. The platformthat already operates in over 140 countriesaround the world, will now be available in 30 states and two jurisdictions with plans to expand beyond the U.S. after receiving the required regulatory approvals.



This U.S. platform will only accept trading in crypto assets in the beginning, but eToro intends to include additional asset classes in the next twelve months. In the current market, its more than 10 million customers are able to exchange and keep more than 1500 asset classes in markets comprising bonds, stocks or cryptocurrencies, currencies that are fiat, commodities and more.




While eToro can also support more advanced trading strategies -- like short-selling and leverage -- the features of the platform's transparency and social engagement features serve as excellent tools for those who are just beginning to understand the capital markets and understand how to trade.








EToro is equal parts social network, trading platform along with an online educational source. Anyone who signs up for eToro can access, read, and comment on or copy the trading activities of other members of the network, in addition to their actual profits and losses to date (though only on a percentage basis in order to ensure the security of sensitive financial information). While learning from other traders' strategies and trading partners, members can choose to trade with virtual currency to test their skills and gain experience before placing their money at risk.



In addition, based on a trading history, users can select to mirror their portfolio through eToro's "CopyTrader" feature, which does not just allocate funds to match the trader's portfolio, it can also take any trade the copied investor performs. On top of that users also have the option to comment, share, engage with or follow certain users, assets or markets, allowing them to participate in the most recent debates and news regarding their particular area of interest.



Although the service is limited only to crypto for the first time, nearly all of the features available in the existing geographic markets will be accessible at a lower cost in the U.S. And alongside can i buy bitcoin instantly trading platform and its trading platform, the company will launch the digital multi-signature eToro account, where users can store, send and receive multiple coins in a wide range of cryptocurrency.



With their eToro Accounts, U.S. users can transfer cryptocurrency to and from their trading accounts. And they is able to easily convert between them as well. The wallet at first will support Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple and Stellar for U.S. users, but the company will make additional currencies soon.



EToro users can make transactions and share trading and performance of their portfolios with other EToro users with the ability to discuss options that are executed using real dollars








The expansion strategy, however, doesn't come without the risk. EToro wants to join a competitive market, along with other major trading platforms like Coinbase as well as Robinhood -and is now launching a crypto-only version in the midst of "crypto winter," where general weakness has plagued this sector.



The reason behind this strategy is directly related to the fact crypto has a lower cost from a licensing point of view compared different asset types in the highly regulated and splintered U.S. regulatory environment. However, the strategy behind eToro's launch is also to the firm's belief that huge opportunities for market growth due to the asset 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, in a conversation with TechCrunch.



EToro is taking the long-term view in its business plan and isn't affected by the current crypto weakness. Assia identified the weakness in the market to that of the dot com bubble, in which, despite the downturn, the internet was still a major factor and disrupted the economy in the long term. As with technology, Assia along with eToro believe there will be more than enough room for multiple winners in the larger crypto-related ecosystem.



The company was the very first platform in its markets to offer support for Ethereum and Ripple, and believes that as similar currencies and the next generation of investors mature, eToro will be there to help them wherever they are in the way they need it.



"When I founded eToro, I envisioned a community where people could trade, invest and share their knowledge in a simple and transparent way," Assia 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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