eToro, an online investment platform with over 10 million registered users, has announced a reduction in fees on crypto, with the aim of raising awareness of the potential of cryptocurrency and blockchain.
With immediate effect, in fact, eToro has decreased its commissions, even cutting 50% on bitcoin. Click here to check the new eToro fees explained in detail.
eToro offers investors access to trading in Bitcoin, Ethereum, Bitcoin Cash, XRP, Litecoin, Ethereum Classic, Dash, Stellar, NEO, EOS, Cardano and IOTA.
Yoni Assia, Co-Founder and CEO of eToro commented: “We have been committed for years to spreading and strengthening the crypto asset culture to everyone. We want our investors to be able to buy, sell or store crypto assets in the easiest and most accessible way possible. And cutting costs so that our clients retain more of their profits is part of our vision. We are also committed to raising our investors’ awareness of the potential offered by crypto assets and blockchain technology at the base. This includes sponsorship, advertising investments, event attendance and the development of educational materials for those preparing to enter the industry. Yes, it is true, crypto assets are extremely volatile and not suitable for all types of investors, but we believe that for many of them they can be an integral part of a diversified portfolio in the long term“.
eToro now also works with 7 Premier League football teams through a finalised bitcoin agreement. Sponsorship is also being given to the German team Eintracht Frankfurt, which is working with French tennis player Gael Monfils.
Yoni Assia said: “More and more articles with titles announcing the end of cryptocurrencies are being published when, in reality, we continue to see interest and demand for these assets grow. The huge price increase at the end of 2017 brought cryptocurrencies to the attention of investors and pushed dedicated technology start-ups into the spotlight. Since then, prices have stabilised and the crypto industry has had the opportunity to catch its breath. This opportunity was used to involve and educate regulators and investors about both traditional financial services and the opportunities offered by crypto and blockchain in general. At eToro, we welcome appropriate regulation for crypto and believe that these measures can accelerate its adoption by investors“.
“Cryptocurrencies are here to stay. We believe that in the future, all assets will be tokenized and that cryptocurrencies are only the first step of this journey“.
The fee reductions are:
- BTC – halved against all fiat currencies
- BCH – spread reduced by 62%
- XRP – spread reduced by 30%
- MIOTA – spread reduced by 52%
- XLM – spread reduced by 51%
- NEO – spread reduced by 62%