Connect with us

Blogs

eToro will Offer Ripple (XRP), Bitcoin (BTC) and 8 Other Cryptos

Published

on

eToro
READ LATER - DOWNLOAD THIS POST AS PDF

A crypto trading platform from Tel Aviv, eToro, has recently announced that it plans to open its doors to the investors from the US. The investors now have a chance to join the waiting list and try out the platform via demo account.

eToro opens up towards the US investors

A famous digital currency trading platform called eToro plans to expand its list of investors by allowing the US to join in.

The platform started a waiting list on Tuesday, May 15, and those interested to join in are free to do so. They will receive a demo account that will allow them to try out the platform, and perhaps decide to stay when all of its services are completely available later in the year.

Yoni Assia, Chief Executive Officer and a co-founder of eToro, has stated that the platform will offer 10 currencies – Bitcoin, Ripple, Ethereum, Stellar, Litecoin, Dash, NEO, Bitcoin Cash, EOS, and Ethereum Classic. Each of these can be exchanged for another currency, or alternatively, for the US dollar.

Assia also stated that the platform will mostly be focused on investors as individuals, and that eToro already has over 10 million users in the Middle East, Europe, and Asia. The platform has also managed to raise over $162 million when it comes to capital funding.

He added that eToro plans to focus mostly on user-friendliness and simplicity of the platform so that everyone would feel welcome to join. The plan is to attract as much diversity as possible, and make eToro a truly global trading platform.

What can the platform offer currently?

US investors who decide to join the platform will be able to get access to the crypto market via one of three ways. They can either invest in coins manually, copy the trades of the other investors so that they would benefit from their experience, or via an investment into the Crypto CopyFund. Due to the fact that some coins have a disputed status, it is believed that the US traders might have the biggest issue when it comes to actually owning the coins.

eToro’s USA Managing Director, Guy Hirsch, has stated that the movement towards a tokenized world is gaining more and more speed, and platforms like eToro need to let assets investors. With their experience and knowledge, and the platform’s capabilities, the platform can help others educate themselves about cryptos, but also help create a stable crypto society.

Those wishing to invest will have to meet the set minimum of $25. Investors will be able to use ACH and debit card during the launch, but also at the later date, once eToro finishes the supporting system.

In the US, the trading platform will have a base in New Jersey and will be registered as a money transmitter with the FCEN (Financial Crimes Enforcement Network). Europe’s branch of eToro is already regulated and authorized by Cyprus Securities Exchange Commission. The same goes for the eToro in the UK, which is regulated and authorized by the FCA (Financial Conduct Authority).

For the latest cryptocurrency news, join our Telegram!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pexels

Blogs

Blockchain-Focused ETF Arrives on London Stock Exchange

Published

on

blockchain-focused ETFs
READ LATER - DOWNLOAD THIS POST AS PDF

The crypto community is still waiting for the US SEC to approve Bitcoin ETFs, with speculation which application might get approval being one of the hottest topics in 2018. However, come 2019, the US government shutdown dragged on, and the Bitcoin ETF request which had the most potential to see a grant got withdrawn by the very companies that submitted the application.

While the question of BTC ETF remains hanging in the air, blockchain-focused ETFs seem to be a different matter entirely. In a recent announcement by an independent investment managed firm called Invesco, the company has stated that it was about to launch the largest blockchain-focused ETF in the world. They managed to go through with this plan, and the ETFs have reached the London Stock Exchange today, March 11th.

The exchange-traded fund includes a portfolio containing as many as 48 different firms which are bringing exposure to the emerging technology. Among them, there is Taiwan Semiconductor Manufacturing, which is a well-known creator of chips used for crypto mining, as well as the CME Group, which is the first regulated exchange in the US which launched Bitcoin futures. There are many other well-known companies as well, such as Intel, Microsoft, and others.

Chris Mellor, the Invesco’s head of ETF equity product management in Europe, said that blockchain has a huge potential to increase earnings, even though…

Continue Reading

Blogs

Could Jeff Bezos Turn to Bitcoin to Hide Fortune from Wife?

Published

on

Jeff Bezos
READ LATER - DOWNLOAD THIS POST AS PDF

Amazon’s Jeff Bezos has made numerous headlines recently due to his overly-publicized divorce, which shows all signs of being one of the most expensive ones — if not THE most expensive one — in modern history. According to estimates, it might cost him as much as $70 billion, which will make his soon-to-be-ex-wife the richest woman in human history.

However, as the process continues to unfold, many have started wondering if things may have ended up differently for Bezos if he turned to Bitcoin for help.

Bitcoin as a divorce tool?

In the last several years — since Bitcoin and other cryptos hit fame — many have started turning to BTC during their divorce proceedings. In fact, it can even be said that using the largest cryptocurrency in this way has become a new trend. The trend has been gaining so much strength that numerous law companies started including advice on what to do in regards to Bitcoin as part of their websites.

However, while the trend has been picking up in recent years, it is nowhere near as easy as it might seem. For example, if there is even a suspicion of a spouse having undisclosed holdings appears during the divorce process, it might be enough to impact the final decision of the judge. In other words, even if there is a complete lack of evidence, but…

Continue Reading

Blogs

Three Biggest Things To Know Come Cryptocurrency Tax Season

Published

on

cryptocurrency tax
READ LATER - DOWNLOAD THIS POST AS PDF

In recent years, digital cash systems known as cryptocurrencies such as Bitcoin and Litecoin have exploded into the public eye. A blend of cash and stocks, their use and value has grown exponentially. In 2017, the IRS decided to focus great effort on taxing them. In theory, this should be as simple as calculating taxes on any other type of property, bond, or other assets. Cryptocurrency, however, presents a unique challenge. The full extent of one person’s crypto activity can stretch across dozens of platforms and take a variety of different forms. This makes it difficult to gather all of this information cohesively, much less begin the seemingly- complicated process of reporting it.

These three tips should help anyone looking to legally report their crypto activity to figure out where to start.

Documentation is key!

There are dozens of different “exchanges” individuals can use to change their cash into crypto. When the flat currency is changed into cryptocurrency at the exchange, you establish your cost basis. This makes this data crucial when you begin the process of reporting.  Those who have used a variety of different exchanges should keep detailed records of everywhere that they made trades. Once tax season arrives, most exchanges will allow users to view their entire trading history with that exchange. This information will be necessary later to complete taxes.

Calculate your total gains

Continue Reading

Elite