LONDON, November 16, 2017 /PRNewswire/ --
- Rapid growth of Bitcoin Cash sees the asset briefly become the second largest cryptocurrency by market cap
- World's leading cryptocurrencies investment platform adds Bitcoin Cash
eToro, the leading global trading and investing platform, is making Bitcoin Cash available to own directly via its platform, as it seeks to simplify the process of buying cryptos, and help bring the technology into the mainstream.
After plans for a second 'hard fork' in Bitcoin were shelved late last week, throwing into question the ability of the cryptocurrency to scale effectively, the price of Bitcoin Cash - an alternative to Bitcoin created out of an earlier hard fork - began to rally significantly. The rally briefly meant that Bitcoin Cash became the world's second largest cryptocurrency by market cap.
Bitcoin Cash joins over 1,200 instruments on eToro, including other cryptocurrencies Bitcoin, Ethereum, Ethereum Classic, Litecoin and XRP. As with other cryptocurrencies on the eToro platform, users can buy Bitcoin Cash coins.
The launch is part of eToro's wider ambition to simplify cryptocurrency investing and act as an accelerant for the adoption of blockchain technology.
Commenting on the launch, Yoni Assia, co-founder and CEO at eToro, said: "The popularity and support for Bitcoin Cash has been clear amongst our user base, which has been asking for eToro to add Bitcoin Cash to the platform in growing numbers.
"The growth of Bitcoin Cash proves there is space for healthy competition in the battle for the future of currency.
"We have long argued that cryptocurrencies represent an important part of our shared future. We believe the growth in cryptocurrencies is only just beginning and that the price growth we are seeing in cryptocurrency assets still does not reflect the future potential of blockchain technology.
"Cryptocurrencies will be the investment story of the 21st century."
Purchasers of Bitcoin Cash will benefit from eToro's fast verification procedures, security processes and established reputation, alongside a user-friendly platform and access to a community of six million experienced traders and investors.
In July 2017, eToro launched its Crypto CopyFund trading strategy, which offers investors exposure to the most popular cryptocurrencies currently available, including Bitcoin, Dash, Ethereum, Ethereum Classic, Litecoin, and XRP, in one portfolio.
eToro is a leading trading and investing network, with over 6 million registered members from 140 different countries and thousands of new accounts opened each day. eToro's mission is to revolutionise the way people access the financial markets and make their trading experience more social, simple, enjoyable and transparent.
Since launching in 2007, eToro has established itself as the market leader in 'social trading' and recently received recognition at FinovateEurope 2017 with the Best of Show award. Yoni Assia, CEO and Co-Founder of eToro is also featured in Financial News' FinTech 40 power list.
A global social platform, it allows members to communicate, copy and follow each other to harness the wisdom and success of others. The community element is the first of its kind, making trading transparent and open, unlike traditional solitary trading platforms.
eToro is regulated by both CySEC in Europe and the FCA in the UK.
*All trading involves risk. Only risk capital you're prepared to lose. Past performance is not an indication of future results. Trading history presented is less than 5 years and may not suffice as basis for investment decision. This is not investment advice.