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Robinhood Reports Fourth Quarter and Full Year 2021 Results

Robinhood Reports Fourth Quarter and Full Year 2021 Results

The trading and social investing platform eToro announced it will officially launch its services in the U.S. The platform, which operates in more than 140 international countries, would be available in 30 states and two jurisdictions with plans to expand further in the U.S. after receiving the necessary regulatory approvals.



The U.S. platform will only support trading for crypto assets in the beginning, but eToro is planning to launch additional categories of assets within the next twelve months. On eToro's current markets, the company's more than 10 million users can exchange and keep more than 1500 asset classes and markets such as bonds, shares and currencies such as cryptocurrencies, fiat currency commodities, and many more.



Though eToro also supports more sophisticated trading strategies such as trading with short-terms and leverage, the service's transparency features and community engagement capabilities make great tools for novices to get familiar with the trading markets and learn to trade.








EToro is a combination of trading platform, social network along with an online educational source. Any user who signs up to eToro can view, discuss and even copy the trading actions from everyone else on the network, as well as the actual losses and returns up to date (though only as a percentage basis, to secure sensitive financial information). While studying the strategies used by their peers the users are able to utilize virtual currency to get a better understanding and to practice before taking on risk with their own money.



On the other hand, based on a trader's record, other members can copy their portfolios by using the "CopyTrader" feature, which will not only allocate funds to match the trader's portfolio, but can also execute any trade that the copied investor makes. On top of that users are also able to comment, share their favorite topics, interact with or follow certain users, assets or markets, giving them the opportunity to engage in the most recent discussions and news in their area of interest.



Although it's only limited to cryptocurrency at first, virtually all features available on eToro's previous international markets will also be available across the U.S. And alongside how to buy bitcoin hardware wallet trading platform it is also launching it's digital multi-signature eToro wallet. It will allow users can send, store and receive multiple coins from a variety of cryptocurrencies.



Using Their eToro account, U.S. users can transfer cryptocurrencies into and from their trading account . They can convert them between and vice versa. how to buy bitcoin for someone else supports Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple and Stellar for U.S. users, but the company will make additional currencies available in the near future.



EToro users can execute transactions as well as share their trading activities and performance of their portfolios with the community and allow users to share ideas and execute them using real dollars








The expansion plan, however, does not come without risks. EToro is entering a competitive marketplace , alongside major trading platforms like Coinbase as well as Robinhood -in addition to launching its solely in the middle of "crypto winter," where the widespread weakness has plagued the sector.




The strategy's success is attributable to the fact that crypto is a more relaxed option from a licensing standpoint compared different asset types within the extremely regulated and fragmented U.S. regulatory environment. However, eToro's approach to launch is also firmly grounded to the firm's belief that the huge market potential associated with the crypto 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 conversation with TechCrunch.



EToro has the long-term view in its strategy and isn't getting sucked by the current crypto market weakness. Assia has compared the current market weakness as the dot-com boom, where , despite its collapse, the internet still permeated and created disruption in the long run. Like online, Assia together with eToro believe there will be more than enough space for multiple winners in the wider crypto industry.



The company was the first market to support Ethereum and Ripple and is confident that as the two currencies are similar and the new generation of investors get older, eToro will be there to support any time and 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," 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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