The New eToro Cryptocurrency Wallet
There are now quite a few sites that enable you to buy and sell Bitcoin and other cryptocurrencies, but many people are still reluctant to use some of these sites due to security and trust issues.
So with that in mind, you may be interested to know that eToro, one of the largest social trading platforms with over 10 million registered users, have just launched their own crypto wallet that promises to be secure and easy to use.
Here are some of the key benefits of the eToro cryptocurrency wallet:
- supports Bitcoin, Bitcoin Cash, Ethereum and Litecoin (with more added soon)
- syncs with existing eToro accounts
- transfer cryptocurrency assets from eToro platform to wallet
- can be used for wallet-to-wallet transfers
- easy to access
- no need to enter private or personal keys
- multi-signature security
- crypto to crypto conversion
- mobile app available from Google Play and Apple app store
- backed by a secure, trusted and regulated platform
Walkthrough Video
Why Do You Need A Wallet?
In case you didn’t already know, crypto wallets basically enable you to store any cryptocurrency assets that you decide to purchase safely and securely.
This is the basic functionality of a crypto wallet, but the eToro wallet has many other useful features as well, including wallet-to-wallet transfers and crypto to crypto conversions, and can be used alongside your existing eToro account.
Company Comments
Here is what the CEO of eToro, Yoni Assia, had to say about the launch of this new crypto wallet:
“We believe that crypto and the blockchain technology that underpins it will have a huge impact on global finance. Blockchain has the potential to revolutionise finance and we believe that we will see the greatest transfer of wealth ever onto the blockchain. We believe that in the future all assets will be tokenised and that crypto is just the first step on this journey. Just as eToro has opened up traditional markets for investors, we want to do the same in a tokenised world. The eToro wallet is a key part of this.”
“The eToro wallet today is just the beginning and we will be adding a whole host of additional functionality which will include supporting additional crypto and fiat tokens, crypto to crypto conversion, the ability to deposit fiat, payment in store and more.”
Rollout
The eToro wallet is currently being rolled out on a phased basis, from country to country. It will initially be used to store Bitcoin, Bitcoin Cash, Litecoin and Ethereum, but will eventually be available for many other cryptocurrencies as well, and as alluded to above, more functions will be available in due course.
Final Thoughts
Cryptocurrency trading and investing is of course very risky. There is a chance you could lose all of your invested capital if one of these cryptocurrencies goes under because your investment will suddenly become worthless.
However if you are looking to buy and hold Bitcoin or one of the other cryptocurrencies and are aware of these risks, you might want to make use of the new crypto wallet from eToro because this offers multi-level security, is easy to use and is backed by a fully regulated and secure trading platform that has millions of users.
Past performance is not an indication of future results. This content is for information and educational purposes only and should not be considered investment advice nor portfolio management. 81% of retail investor accounts lose money when trading CFDs with this provider.
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