Crypto Trading Platform eToro Adds IOTA To List Of Cryptoassets

Announcements, News | August 20, 2018 By:

Social trading network eToro has added support for IOTA on its platform. The cryptocurrency joins other digital assets on the eToro platform, including bitcoin, ethereum, Bitcoin Cash, XRP, Litecoin, Ethereum Classic, Dash, Stellar, EOS, ADA and NEO.

IOTA is a quantum-resistant distributed ledger protocol focused on being useful for the emerging m2m economy of Internet-of-Things (IoT), data integrity, micro-/nano- payments, and anywhere else a scalable decentralized system is warranted. IOTA offers zero fees, no scaling limitations, and decentralized consensus where users are also validators. The IOTA token is currently the eleventh most popular cryptocurrency by market cap.

The Israel-based social trading network said that it has added support for IOTA as investors look to diversify their crypto portfolios and explore new opportunities through altcoins. In addition to allowing clients to purchase IOTA, eToro will also be adding the cryptocurrency to its Crypto CopyFund, which uses contracts for difference (CFD) to enable investors to diversify across all available cryptocurrencies (weighted by market cap) with just one click.

Yoni Assia, Co-founder and CEO at eToro, said that they believe in diversification and they are committed to bringing more cryptoassets onto their platform for their users to invest in.

“Today, there are billions of devices that rely on the Internet of Things and this number is growing exponentially, with millions more new sensors added every week, as the planet becomes ever-more connected, Assia said. “IOTA aims to be the ‘ledger of everything’ by allowing data exchange between the sensor-equipped devices that populate IoT.”

Founded in 2007, eToro is a regulated global brokerage firm for trading cryptocurrencies, stocks, commodities, ETFs and more. It has over 10 million registered users trading more than 1,200 instruments, including Apple, Microsoft, Snap and Facebook, on the platform. In May of this year, the company announced that it will be launching a cryptocurrency offering in the United States with an initial support for 10 cryptocurrencies.