eToro has officially announced the long-awaited launch of crypto trading in 33 US states, greatly expanding their global offerings and further positioning them as a true leader in the trading industry. US traders will now be able to trade world-famous cryptocurrencies like Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple and Stellar and have personal access to eToro’s digital asset wallet.
The leading social trading broker, which is fully regulated and licensed by the Cyprus Securities and Exchange Commission (CySEC) and the Financial Conduct Authority (FCA), also plans on introducing even more crypto coins, a digital assets exchange and multi-asset trading to US customers in the upcoming months, starting with real stock trading which will be offered later on this year.
As eToro’s managing director Guy Hirsch proudly states, “We know that there is a strong demand in the US for crypto and we are excited to be able to offer U.S investors the opportunity to learn about and invest across multiple cryptocurrencies”.
New to eToro? Read our full eToro US review.
eToro US States
The 33 US states which will now offer cryptocurrency trading through eToro are listed below. Check the list carefully for your home state. If your state is not on the list, don’t panic. The following list is the current list provided by eToro – which means even more US states could be added in the future.
- N. Jersey
- South Carolina
- New Mexico
- North Dakota
- South Dakota
- Rhode Island
- Northern Marianas
- US Minor Is.
What type of cryptocurrency trading does eToro offer in the US?
eToro now offers all the above US states real cryptocurrency trading. This means US traders will not be trading cryptocurrency CFDs, but buying and selling crypto assets with no leverage. Unlike other retail brokers, eToro actually allows US traders to invest in the underlying assets.
The cryptocurrencies now available for US customers to trade are: Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple and Stellar. As mentioned above, even more cryptocurrencies will be added in the upcoming months. When initially announcing the crypto trading launch in May 2018, eToro CEO Yoni Assia stated “US crypto holders have a strong appetite for diversified portfolios”. Now, nearly a year later, eToro proves they plan to bring that vision into action.
In addition to cryptocurrency trading now available in 33 US states, eToro will also be launching a digital assets exchange known as eToroX in the second quarter of 2019, so make sure to not miss out on their latest launches. eToroX will be a crypto-to-crypto exchange.
What is the eToro digital asset wallet?
The eToro digital asset wallet is a mobile wallet (available for both Android and iOS devices) that allows both US and global traders to send, receive and store cryptocurrencies on the eToro platform. This digital wallet will eventually have all the functions of a typical electronic wallet with certain extra features, that will give eToro traders added value.
eToro noticed that investors worldwide have gradually become more involved in the crypto space and actively decided to not only expand their crypto offerings to existing customers in 140 countries around the world by introducing a brand-new digital asset wallet and crypto exchange, but launch in the previously untouched, massive US market – further solidifying their position as a global Fintech leader.
eToro is quickly proving to emerge as the leading global retail broker. Being fully regulated and licensed by the CySEC and the FCA, as well as grabbing the spot for the top social trading platform online, US traders should move quick to jump on board with this new crypto trading launch and stay tuned with all future additions to the eToro trading platform. The best is yet to come.
Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.