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eToro Rolls Out Crypto Wallet

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  • Multi-crypto on-chain wallet with multi-signature security
  • Coming soon – crypto to crypto conversion, deposit fiat, payment in store

eToro, the global investment platform with over 10 million registered users, today confirms the rollout of its crypto wallet.

The eToro wallet is a mobile application available via Google Play and the Apple App Store. It provides an easy to use customer interface and enhanced security. Multi-signature* security gives users the ability to see their on-blockchain transactions and balances without the fear of losing their private key**.

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

In order to ensure the best customer experience for clients, eToro is launching its crypto wallet on a phased basis both in terms of users, with a country by country rollout, and functionality.

At launch, users will be able to store Bitcoin, Bitcoin Cash, Ethereum and Litecoin in their eToro wallet. The number of supported cryptos will increase over time just as eToro has increased the number of cryptos available on its platform.

Initially, the ability to transfer crypto from eToro to the wallet will be available to Platinum Club*** members for Bitcoin. This will gradually be extended to more users and a greater number of crypto assets.

Yoni Assia continued: “The eToro wallet today is just the beginning and we will adding a whole host of additional functionality which will include supporting additional crypto and fiat tokens, crypto to crypto conversion, the ability to deposit fiat, payment in-store and more.”

* Multi-signature – refers to requiring more than one key to authorize a bitcoin transaction.

** Private key – A secret key, which combined with an algorithm allows you to encrypt or decrypt ‘content’

*** Platinum Club – clients with over $25,000 in equity on the platform.

About the wallet:

The eToro wallet is provided by eToro X Limited (“eToro X”).  eToro X is incorporated in Gibraltar with company number 116348, registered office 57/63 Line Wall Road, Gibraltar(“eToroX”). eToro X have received an ‘in-principle’ approval from the Gibraltar Financial Services Commission in respect of its application for a Distributed Ledger Technology (DLT) Provider Licence application.

About eToro:

eToro empowers people to invest on their own terms. The platform enables people to invest in the assets they want, from stocks and commodities to cryptoassets. 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. Due to the simplicity of the platform 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 by the Financial Conduct Authority in the UK.

Cryptoassets are unregulated and can fluctuate widely in price and are, therefore, not appropriate for all investors. Trading cryptoassets is not supervised by any EU regulatory framework. Your capital is at risk.

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Cybersecurity took center stage in 2018 and could present an exciting investment opportunity

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Cybersecurity has always been a topic of importance for both enterprises and individuals. However, 2018 was riddled with events that highlighted just how crucial an issue it is, following privacy breaches such as the Cambridge Analytica Facebook scandal. With renewed interest in online safety and privacy, cybersecurity stocks are attracting increasing attention in the investment world.

2018 – the year of the hack

The attention to online privacy reached new heights in 2018, following the Cambridge Analytica scandal, which jeopardised the data of some 87 million Facebook users¹. The scandal put in question many of Facebook’s user privacy practices, resulting in Founder and CEO Mark Zuckerberg testifying before Congress. A month later, the General Data Protection Regulation (GDPR) came into effect in the EU, applying new restrictions on any entity that collects personal data.

The dynamics of online security

One of the reasons cybersecurity is, and will remain, a hot topic is the ever-changing nature of the online world. With so much sensitive information being stored in the cloud and on computer networks, the risks are ever growing and the need for effective cyberdefenses is ever present. From “simple” risks, such as phishing scams, to complex ransomware programs and crypto mining bots, each person and enterprise with an online presence is in danger of falling victim to a cyber attack.

The cybersecurity industry is huge, estimated at more than…

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Mobile payments is a big market – and it’s about to get much bigger

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In recent years, mobile payment has become a key method of online shopping and other forms of eCommerce. With more members of Generation Z, who grew up in a world where smartphones were not an innovation, but a reality, this segment of the financial space is expected to grow tremendously in coming years. With more smartphones in people’s pockets and an increasing number of countries shifting towards cashless economies, it is no surprise that many of the leading payment technology companies in the world are constantly working to introduce new and improved payment solutions.

In 2016, the mobile payment market was valued at $601 billion¹. By 2017, it grew to nearly $720 billion², and it is expected to cross the $1 trillion milestone in 2019³. Forecasts suggest that it will continue to grow, reaching anywhere between $2.7 and $4.5 trillion by 2023. This growth will be prompted by many catalysts, which will both get more people to use mobile payments and make it easier for existing users to conduct more of their transactions with mobile devices.

Going mobile

The introduction of mobile internet and smartphones placed mobile payment at the fingertips of billions around the world. As the industry grew, more users started using mobile payments, due to its seamless, frictionless nature. Moreover, using an application for making payments gives the user more transparency and control over their finances,…

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Big banks, big opportunity? Earnings season kicks off

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Each quarter, publicly listed companies share their earnings reports with their investors and the general public. These reports provide insights into each company’s performance and more often than not, impact their stock prices. Over the next six weeks, companies will be sharing their reports for the fourth quarter of 2018 (Q4), with major banks kicking off the earnings season.

Reporting earnings in a challenging market

This earnings season has a very meaningful backdrop, as Wall Street has been heavily impacted by external forces recently. Firstly, the Fed’s drive to hike rates over the past year, with four rate hikes in 2018, has put pressure on the market.

Perhaps the most important factor causing Wall Street to struggle recently has been the rising yield of 10-year bonds. These bonds, issued by the US Treasury, present a relatively low-risk investment option and produce steady returns twice a year. When the interest produced by these bonds is high, it could push investors away from the stock market, as the safer option is now also high yielding. Recently, 10-year bond yields have been giving investors interest rates of 2.73%.

Entering this earnings season, many companies face the challenge of remaining a lucrative investment option for their shareholders. For some companies in the financial sector, this season might be especially crucial, as they have to recover from less-than-impressive results last quarter.

Banking on earnings

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