eToro Broker has Launched its Crypto Wallet

eToro Broker has Launched its Crypto Wallet


eToro which has been in several crypto related news in recent time has announced the official launch of its crypto wallet. The broker made it known that the wallet is available for download on both the Google Play and Apple Store.

eToro Turning Towards Crypto

eToro announced the launch of this wallet through its official Twitter handle. The broker which was founded in 2006 and with its headquarter in Israel has shifted its focused towards the crypto industry recently. Recently, the broker became the first platform outside the Binance exchange to list the BNB token.

Recently, eToro announced that crypto traders on its platform can now withdraw their cryptocurrency into any wallet of their choice. This move graduated the broker from a CFD broker to a crypto exchange ( a well regulated one) for crypto traders. eToro will be capitalizing on the fact that it users can now make a crypto withdrawal through the launch of this crypto wallet. This way the broker still remains the custodian of their user’s cryptos, whether on the platform or in the wallet.

Yoni Assia, CEO of eToro has also commented on this. He stated that:
“We believe that crypto and the blockchain technology that underpins it will have a huge impact on global finance. Blockchain has the potential to revolutionize 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 tokenized 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 tokenized world. The eToro wallet is a key part of this, ”

Platinum Club Members

Based on the report released by eToro, the wallet will only support four cryptos for now. Eventually, the number will increase. The four supported tokens are Bitcoin Cash, Ethereum, Bitcoin and Litecoin. Currently, the wallet is available to the broker’s premium users—Platinum Club Members. These are traders with a balance of $25,000 at least.