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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 it will launch its online platform to the U.S. Its platform, which operates in over 140 nations, is now accessible in 30 states and two territories . It also has plans for expansion elsewhere in the U.S. after receiving the necessary regulatory approvals.



Its U.S. platform will only support trading for crypto assets at launch, but eToro plans to introduce additional types of assets in the coming 12 months. In eToro's existing markets, its 10 million plus customers are able to deal and hold more than 1500 different asset classes as well as markets, including stocks, bonds along with cryptocurrencies, fiat currencies commodities and more.




While eToro is able to support more advanced trade strategies -- which include short-selling and leverage -- the service's transparency features and community engagement capabilities make great tools for those who are just beginning to understand the capital markets and learn how to trade.








EToro is a social network, trading platform plus a resource for learning. Anyone who sign-ups for eToro has the ability to see, post comments and even copy the trading actions of everyone else on the network, in addition to their actual profits and losses to date (though only in a percentage-based basis to ensure the security of sensitive financial information). While learning from the techniques of their counterparts they can also choose to invest in virtual currencies to test their skills and gain experience before actually risking their own money.



In addition, based on a trader's history, other users can also choose to replicate their portfolio by using eToro's "CopyTrader" feature, which will not only allocate funds in accordance with the trader's portfolio, but can also make any trade copied investor performs. On how to buy bitcoin fidelity of that the members can also to comment, share their favorite topics, interact with or follow certain people, assets, or markets, allowing them to participate in all the latest debates and information concerning their area of interest.



However, despite being restricted to crypto when it first launched, basically all of the features available in the existing geographical markets will be available to users in the U.S. And alongside its trading platform and its trading platform, the company will launch the multi-signature eToro wallet. This wallet will let users can store, exchange and receive multiple coins from a variety of cryptocurrency.



With your eToro logins U.S. users can currently transfer cryptocurrency to and from their trading accounts and will be able to convert between them as well. The wallet will initially support Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple and Stellar for U.S. users, but the company is planning to offer additional currencies available in the near time.



EToro users can make transactions and share their trading activity and performance of their portfolios with the community in order to discuss concepts that are implemented using real dollars








The expansion plan, however, does not come without risks. EToro is entering a competitive marketplace -- alongside other famous trading platforms such as Coinbase as well as Robinhood -and has announced a Crypto-only version amid the chaos of "crypto winter," where widespread weakness has plagued the sector.



A significant part of the plan is directly related to the fact crypto is an easier lift in terms of licensing compared with other classes of assets within the strict and highly fragmented U.S. regulatory environment. However, the launch strategy of eToro is also firmly rooted in the company's belief in the huge market potential that is available through the digital tokenization of asset.



"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 conversation with TechCrunch.



EToro has the long view with their strategy and hasn't been impacted into the current crypto slump. Assia said that the market's weakness is similar to the dot-com bubble that despite the downfall, the internet continued to be a force that destroyed the economy in long term. Like online, Assia and eToro believe there will be enough space for multiple winners within the wider crypto economy.



It was the first platform that supported Ethereum and Ripple, and believes that , as these currencies and the future generation of investors mature, eToro will be there to support their users 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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