eToro cuts crypto costs to support mass adoption - Global Coin Report
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eToro cuts crypto costs to support mass adoption

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– Spread on bitcoin cut in half so clients keep more of their gains-

eToro, the global investment platform with over ten million registered users, has announced a significant cut in spreads on cryptoassets as part of its ongoing efforts to increase awareness of the potential of crypto and blockchain more broadly. This move to cut the costs of investing in crypto will help to make it more accessible for retail investors.

With immediate effect, spreads on all cryptoassets on the eToro platform have been trimmed with the spreads on many assets, including bitcoin, cut by more than half. This move means that clients will keep more of their gains.

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.”

Efforts to raise awareness of crypto include eToro’s sponsorship of seven Premier League football clubs in a deal paid with bitcoin, sponsorship of German football team Eintracht Frankfurt, and partnering with French tennis player and eToro user Gaelle Monfils.

Yoni Assia said:

“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 stabilised 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. Crypto is here to stay. We believe that in the future all assets will be tokenised and that crypto is just the first step on this journey.”

eToro is a regulated multi-asset investment platform that has been offering investors access to cryptoassets since 2014. The platform now offers 12 cryptoassets (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. eToro acts as a bridge between the old world of investing and the new, helping investors navigate and benefit from the transition of assets to the blockchain. eToro is the only place where investors can hold traditional assets such as stocks or commodities alongside ‘new’ assets such as bitcoin.

Notes to editors

A full list of spreads and any other fees are outlined here.

About eToro:

eToro empowers people to invest on their own terms. The platform enables people to invest in the assets they want, from cryptoassets to stocks and commodities. 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.  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.

www.etoro.com

Cryptoassets are a highly volatile, non-regulated and are not appropriate for all investors. Trading cryptoassets is not supervised by any EU regulatory framework. Your capital is at risk

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Bitcoin of 2020: On the Rise, Better Established, and Much More Stable

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Why Bitcoin is Continuing to Climb, from More Solid Ground Than Ever

Last night saw Bitcoin once again soaring up the market, with a 6% increase over the course of three hours. This continues a fantastic start to the year for the world’s largest decentralized currency, which is up 30% since January 1st, and pulling along with it several other primary cryptocurrencies, including Ether, Litecoin, Ripple, and Dash.

A Significant Moment for Bitcoin

January 2020 is certainly proving highly significant for Bitcoin. The sharp increases and painful falls of the past pale into comparison with now, as the current increase seems to come from a far better-established position with much more stability. Furthermore, the activity around Bitcoin is expanding in exchanges, banks, and other financial institutions, together with its legitimacy and relevancy.

World Economic Forum 

Last week, at the World Economic Forum annual summit at Davos, Switzerland, Bitcoin, cryptocurrencies, and blockchain technology were honored guests. Many of the billionaires, bankers and treasury ministers who gathered in Davos are still fairly skeptical about the decentralized economy, but despite this, they also realize that they cannot stop it.

The World Descends into Chaos, And Bitcoin is on the Rise

It seems that the more agitated the world agenda, the more Bitcoin’s popularity grows, and strengthens its status as a hedge against the traditional markets. The continuous climb of the stock…

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World’s Richest 22 Men Are Worth The Same As All 325 Million Women In Africa — New Oxfam Report Reveals

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“Wealth inequality remains shockingly high.” This is the sobering conclusion of Oxfam’s latest report, published on the eve of the World Economic Forum Annual Meeting 2020.

The 162 richest people on the planet boast the same wealth as the poorest 50 percent — 3.85 billion — in the world.

From Tuesday, January 21, close to 3,000 delegates — including 53 heads of state — from 117 countries, will participate in the WEF summit in Davos-Klosters, Switzerland. According to the website blurb, the WEF Annual Meeting is “the foremost creative force for engaging the world’s top leaders in collaborative activities to shape global, regional and industry agendas at the beginning of each year”.

This year’s topic, for the great and the good of the business world and politics, is “stakeholders for a cohesive and sustainable world”. While the hellish fires raging in Australia fan the flames for climate change, the perverse irony that most of the 774 public speakers will have been flown into the summit will not be lost on the people who are truly concerned about the heating of the world.

Similarly, that many of the wealthiest people in the world will gather to no doubt use the WEF platform to further boost their richest, through additional business deals and contacts, while vowing to help those less fortunate is alarming to Oxfam. Hence…

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Cryptocurrency Prices Rally Towards Double-Digit Gains in 2020

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The cryptocurrency market has started 2020 with a huge bang, expanding by an impressive 23% within the first two weeks of the year. The overall market capitalization of the cryptocurrency market – a measure of the size of the market – has grown from $192 billion at the start of the year, to well over $240 billion by the middle of January.

Leading the pack is Bitcoin (BTC), which constitutes more than 65% of the overall market size. Going from just under $7,200 at the end of 2019 to a high of $8,800, Bitcoin recorded double-digit gains within two weeks. January 14 saw a spike of more than 11% in Bitcoin’s price, fuelling speculation that the two-year-long cryptocurrency recession could finally be over.

Bitcoin Price Chart

Among the many factors that contributed to Bitcoin’s price increase was the geopolitical upheaval emanating from increasing tensions between the USA and Iran, which led to a flight of safety capital by investors, to safe-haven assets such as gold. Already established as a manifestation of digital gold, it seems hardly coincidental that the prices of both gold and Bitcoin went up.

Another catalyst for the increase was the official launch of the CME Bitcoin options on January 13. The CME…

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