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Robinhood Reports Fourth Quarter and Full Year 2021 Results

Robinhood Reports Fourth Quarter and Full Year 2021 Results

The social trading and investing platform eToro announced that it is launching its platform in the U.S. The platform, that currently is in operation in more than 140 different countries, will soon be accessible in 30 states and two territories with plans to expand outside of the U.S. after receiving the necessary regulatory approvals.



This U.S. platform will only permit trading of crypto assets initially, however eToro is planning to launch additional asset classes in the coming 12 months. On eToro's current markets, its more than 10 million customers are able to invest in and hold more that 1500 different asset classes as well as markets including bonds, stock and cryptocurrencies, as well as fiat currencies, commodities and more.



Though eToro offers more advanced trading strategies -- like short-selling , as well as the use leverage -- the platform's transparency and engagement features can be great tools used by beginners to master the capital markets and understand how to trade.








EToro is a combination of trading platform, social network plus a resource for learning. Any user who signs up to eToro will be able to read, write about and copy the trading activity that other users of the network, as well as their actual returns and losses so far (though only by a percentage to protect financial information that is sensitive). While learning from the strategies of their fellow traders the users are able to use virtual currency in order to test their skills and gain experience before even putting their money on the line.



Additionally, based upon a traders track record, users may decide to imitate their portfolio by using eToro's "CopyTrader" feature, which does not just distribute funds in line with the trader's portfolio, but will also execute any trade that the copied investor performs. Additionally the members can also communicate, leave comments on or interact with particular individuals, assets or markets -- making it possible for them to take part in the latest discussions and news concerning their area of interest.



Even though it's limited only to crypto for the first time, basically all of the features available in the existing regions will be made available throughout the U.S. And alongside its trading platform in the coming months, the company will also launch their digital multi-signature eToro wallet. This wallet will let users can store, exchange and receive multiple coins from a variety of different cryptocurrencies.



With one of their eToro customers' accounts U.S. users can now transfer cryptocurrencies to and from their trading accounts. They will be able to convert between them in addition. The wallet's initial support will include Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple and Stellar for U.S. users, but they plan to launch additional currencies readily available in the coming months.



EToro users can execute transactions or share trading data and performance of their portfolios with other EToro users which allows users to exchange strategies that are then executed with real dollars








The expansion strategy, however, doesn't have a low risks. EToro moves into a competitive market -- alongside well-known trading platforms such as Coinbase as well as Robinhood -and has announced a Crypto-only version amid the chaos of "crypto winter," where widespread weaknesses have plagued the sector.



One aspect of the strategy is attributable to the fact that cryptocurrency is considered to be a less costly asset in terms of licensing in comparison to the rest of the asset class in the highly regulated and splintered U.S. regulatory environment. However, eToro's strategy for launching is also solidly rooted by its belief in the immense market opportunity which is created by the tokenization of assets.




"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 said in a interview with TechCrunch.



EToro is taking an opportunistic approach to its plan of action and isn't being frightened by the current crypto market weakness. Assia was comparing the market's softness in the wake of the dot-com crash where , despite the collapse, Internet still permeated and altered the economic landscape in the longer term. how to buy bitcoin in canada like web-based technology Assia together with eToro believe that there will be more than enough space to make multiple winners in the larger crypto ecosystem.



It was the first market platform which was able to integrate Ethereum and Ripple, and believes that , as similar currencies and the next generation of investors mature, eToro will be there to assist them wherever they are 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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