Crypto Investment Platform eToro Cuts Trading Costsbr>
Global investment platform eToro has announced a significant cut in its spreads to reduce the cost of crypto for its users.
Spreads on all cryptoassets on the eToro platform have been trimmed with the spreads on many assets, with bitcoin and others seeing their spreads cut by more than half. The company said the move will allow clients to keep more of their gains.
“We’re committed to supporting the mass adoption of crypto. We want to make it as simple and accessible as possible for investors to buy, sell, or hold crypto,” said Yoni Assia, Co-founder and CEO of eToro. “Cutting costs so clients keep more of their gains is one part of this. Yes, crypto is highly volatile and not appropriate for all investors, but we also believe that for many it can have a role to play as part of a diversified long-term portfolio.”
Assia added that the company is also committed to raising awareness among investors of the potential offered by crypto and blockchain technology, which include sponsorship, advertising, speaking at events and producing educational material.
“Over and over again we see headlines announcing the end of crypto, yet in reality we continue to see interest in and demand for these assets,” Assia said. “The huge price rally at the end of 2017 brought crypto to the attention of the masses and thrust these infant tech companies into the spotlight. Since then, prices have stabilized and the crypto industry has had the chance to catch its breath. It has used this opportunity to engage with and educate regulators and participants across traditional finance services as to the opportunities offered by crypto and blockchain more broadly.”
Assia also said that his company welcomes appropriate regulation for cryptocurrencies and he believes it will accelerate mass adoption.
“Crypto is here to stay,” Assia said. “We believe that in the future all assets will be tokenized and that crypto is just the first step on this journey.”
Since 2014, eToro has been offering investors access to cryptoassets. It currently supports 12 cryptocurrencies, including bitcoin, ethereum, Bitcoin Cash, XRP, Litecoin, Ethereum Classic, Dash, Stellar, NEO, EOS, Cardano and IOTA. It also offers Crypto CopyFund, which enables investors to diversify across all available cryptocurrencies (weighted by market cap) with just one click.