The eToro wallet is a mobile application available via Google Play and the Apple App Store. It provides an easy to use customer interface and enhanced security. Multi-signature* security gives users the ability to see their on-blockchain transactions and balances without the fear of losing their private key**.
Yoni Assia, CEO of eToro comments:"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."
At launch, users will be able to store Bitcoin, Bitcoin Cash, Ethereum and Litecoin in their eToro wallet. The number of supported cryptos will increase over time just as eToro has increased the number of cryptos available on its platform.
Initially, the ability to transfer crypto from eToro to the wallet will be available to Platinum Club*** members for Bitcoin. This will gradually be extended to more users and a greater number of crypto assets.
Yoni Assia continued: "The eToro wallet today is just the beginning and we will 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."
Notes to editors:
* Multi-signature - refers to requiring more than one key to authorise a bitcoin transaction.
** Private key - A secret key, which combined with an algorithm allows you to encrypt or decrypt 'content'
*** Platinum Club - clients with over $25,000 in equity on the platform.
About the wallet:
The etoro wallet is provided by eToro X Limited ("eToro X"). eToro X is incorporated in Gibraltar with company number 116348, registered office 57/63 Line Wall Road, Gibraltar ("eToroX"). eToro X have received an 'in-principle' approval from the Gibraltar Financial Services Commission in respect of its application for a Distributed Ledger Technology (DLT) Provider Licence application.
eToro empowers people to invest on their own terms. The platform enables people to invest in the assets they want, from stocks and commodities to cryptoassets. eToro is a global community of more than ten million registered users who share their investment strategies; and anyone can follow the approaches of those who have been the most successful. Due to the simplicity of the platform users can easily buy, hold and sell assets, monitor their portfolio in real time, and transact whenever they want.
eToro is regulated in Europe by Cyprus Securities and Exchange Commission and regulated by the Financial Conduct Authority in the UK.
Cryptoassets are unregulated and can fluctuate widely in price and are, therefore, not appropriate for all investors. Trading cryptoassets is not supervised by any EU regulatory framework. Your capital is at risk.