eToro Adds IOTA to Expanding List of Cryptoassets
London — August 20, 2018 – eToro, a global investment platform with over ten million registered users, has today added IOTA bringing the total number of cryptoassets available on the platform to 12.
IOTA aims to enable companies to explore and open up new business to business marketing opportunities by making every technological resource a potential service to be traded on an open market in real time, with no fees.
Unlike most cryptos the IOTA platform does not use a blockchain. Instead it is underpinned by a blockless technology its creators call “Tangle.” The IOTA Tangle ledger is able to settle transactions with zero fees so devices can trade exact amounts of resources on-demand, as well as store data from sensors and data-loggers securely and verified on the ledger. The cryptoasset aims to become the backbone of the Internet of Things (IoT).
The addition of IOTA comes as investors look to diversify their cryptocurrency portfolios, seeking new opportunities through altcoins. It will now be available on the eToro platform alongside Bitcoin, Ethereum, Bitcoin Cash, XRP, Litecoin, Ethereum Classic, Dash, Stellar, EOS, Cardano and NEO.
Crypto investors on eToro own the actual cryptoasset with eToro acting as custodians of the coins.
IOTA 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.
Yoni Assia, Co-founder and CEO at eToro, commented: “At eToro we believe in diversification and we are committed to bringing more cryptoassets onto our platform for our users to invest in.
“Today, there are billions of devices that rely on the Internet of Things and this number is growing exponentially, with millions more new sensors added every week, as the planet becomes ever-more connected. IOTA aims to be the ‘ledger of everything’ by allowing data exchange between the sensor-equipped devices that populate IoT.”
eToro empowers people to invest on their own terms. The platform enables people to invest in the assets they want, from stocks, to cryptocurrencies to commodities. eToro is a global community of more than ten million people who share their investment strategies; and anyone can follow the approaches of those who have been the most successful. 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 in the UK by the Financial Conduct Authority
About Guy Hirsch
Guy Hirsch is the USA Managing Director of eToro, the world’s largest social investment network. Guy leads eToro’s expansion into the United States with a focus on U.S. cryptocurrency and blockchain strategy.
Prior to joining eToro, Guy served as Director of Innovation Strategy at Samsung SDS, the enterprise IT solution subsidiary of Samsung group, where he oversaw architecting, development, piloting and learning of experimental AI and IoT solutions and evangelized digital transformation projects at the C-Suite level. Guy also previously led Samsung Electronics America’s retail innovation team, where he spearheaded Samsung’s efforts as the leader in consumer electronics retailing. Guy has an LL.B and a BA in Business from the IDC Herzliya in Israel.