LONDON, February 19, 2018 /PRNewswire/ --
- Launch of NEO brings total number of crypto assets available on the eToro platform to nine
- Move comes as investors increasingly seek to diversify into alt coins
- Users will own the asset and benefit from eToro's established checks and procedures
eToro, a global trading and investment platform with over nine million users, has today added NEO onto its platform, bringing the total number of cryptocurrency assets available on the site to nine.
The addition of NEO to eToro follows from that of Stellar last week, and comes as investors increasingly turn their attention to altcoins, as they seek new investment opportunities and diversification for their cryptocurency portfolios.
NEO is the token linked to the NEO smart economy platform which uses a unique blockchain algorithm to develop digital assets and smart contracts. It will now be available on the eToro platform alongside Bitcoin, Ethereum, Bitcoin Cash, XRP, Litecoin, Ethereum Classic, Dash and Stellar.
Cryptocurrency investors on eToro own the real underlying asset, with eToro acting as custodian.
NEO will also be added to eToro's Crypto CopyFund, which uses CFDs to enable investors to diversify across all available cryptocurrencies (weighted by market cap) with just one click.
eToro users benefit from eToro's verification procedures, security processes and established reputation within the crypto community.
Commenting on the launch, Yoni Assia, Co-founder and CEO at eToro, said: "Already in 2018 we've seen attention shift away from mainstream cryptocurrencies and the market share of altcoins is increasing all the time. In our view, this trend is only set to continue.
"We are constantly seeking to identify and assess new concepts as they emerge and we are committed to bringing the best crypto assets onto our platform for our users to invest in. We're excited to have brought NEO and Stellar onto the platform already this year and we look forward to seeing how the market develops in 2018 following a very successful 2017 for the crypto community."
eToro is a global trading and investment platform. The award-winning platform connects you with a community of 9 million users, with expertise in everything from short-term trading in Bitcoin to long-term investing in bank stocks. Learn from and copy other users' investment strategies and become a leading trader. eToro is the next-generation hub for traders and investors of all shapes and sizes.
*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.
Buying cryptocurrencies is not appropriate for everybody. Cryptocurrencies are not regulated. They are not backed by governments or central banks. Cryptocurrencies are backed by technology and trust. You will not benefit from the protections available to clients receiving regulated investment services, such as access to the Financial Services Compensation Scheme (FSCS) and the Financial Ombudsman Service (FOS) for dispute resolution. You are at risk of losing all of your invested capital.