eToro has announced a significant cut in spreads on cryptoassets as the global investment platform progressively becomes a large venue for cryptocurrency trading.
The measure is part of its ongoing efforts to increase awareness of the potential of crypto and blockchain more broadly as cutting costs of investing in crypto will help to make it more accessible for retail investors.
Yoni Assia, Co-founder and CEO of eToro commented:
“We’re committed to supporting the mass adoption of crypto. We want to make it as simple and accessible as possible for investors to buy, sell or hold crypto. Cutting costs so clients keep more of their gains is one part of this. We are also committed to raising awareness among investors of the potential offered by crypto and the blockchain
technology that underpins it. This includes sponsorship, advertising, speaking at events and producing educational material. Yes, crypto is highly volatile and not appropriate for all investors, but we also believe that for many it can have a role to play as part of a diversified long-term portfolio.”
Spreads on all cryptoassets on the eToro platform have been trimmed with the spreads on many assets, including bitcoin, cut by more than half. eToro offers investors access to cryptoassets since 2014. Its current offering includes Bitcoin, Ethereum, Bitcoin Cash, XRP, Litecoin, Ethereum Classic, Dash, Stellar, NEO, EOS, Cardano and IOTA, as well as crypto/crypto pairs and crypto/fiat pairs.
“Over and over again we see headlines announcing the end of crypto, yet in reality we continue to see interest in and demand for these assets. The huge price rally at the end of 2017 brought crypto to the attention of the masses and thrust these infant tech companies into the spotlight. Since then prices have stabilized and the crypto industry has had the chance to catch its breath. It has used this opportunity to engage with and educate regulators and participants across traditional finance services as to the opportunities offered by crypto and blockchain more broadly. At eToro, we welcome appropriate regulation for crypto and believe that it will accelerate mass adoption”, Assia added.
