eToro Opens Cryptocurrency Investments To Its Users
What is eToro?
eToro is a social trading and Investing company that allows its users to watch the financial trading activity of other users, copy them, and to make their own trades.
It is the first global market place for people to trade currencies, commodities, indices and CFD stocks online in a simple, transparent and more enjoyable way.
Israeli forex broker and social trading platform developer eToro announced it is expanding its cryptocurrency investment CopyFunds offering with DASH, LiteCoin, Ripple and Ethereum Classic.
The news comes a month after the launch of the first digital currency CopyFund with Bitcoin and Ethereum.
“2017 has been a defining year for cryptocurrencies. The global market has now topped $100 billion and the last few months alone have seen an influx of new cryptos entering the space”, said Yoni Assia, Co-founder and CEO of eToro. “We believe that $100B is a milestone on the way to a Trillion USD market cap, and that a good strategy to capture this growth is by simply investing in the top billion dollar cryptocurrencies on a market cap weighted average.
According to Assia, eToro’s crypto copy funds would simplify the investment in cryptocurrencies, which currently is a complex process and requires technical, security and risk management knowledge.
The portfolio is analyzed on a regular basis and automatically rebelanced each month. The CopyFunds allow clients to invest in predefined market strategies and give access to the top performing strategies of the leading traders in the eToro community.
Clients of eToro also trade individual cryptocurrencies like Bitcoin and Ethereum.
The CopyFunds are a new generation of investment products that allow traders to develop and follow investment portfolios on various market strategies. Each CopyFund has a unique market strategy and bundles together financial assets of any kind, under a chosen strategy or theme. They were first offered by eToro earlier this year.
The CopyFunds are be packaged in Top Trader CopyFunds with the best performing and most sustainable traders on eToro’s platform. Another package is the Market CopyFunds consisting of specially-selected instruments, such as stocks, commodities or ETFs allowing investors to track a wide array of sectors around a defined market strategy.
eToro now has over 20 CopyFunds available, all with a minimum investment of $5,000.