eToro Launching Its Own Crypto Wallet Soon - Newslibre

eToro Launching Its Own Crypto Wallet Soon

Cryptocurrencies have made a strong footprint on the economy in the last five years with various innovations coming up to provide easier ways to trade online in a secure and faster way.

eToro is advancing the same idea and is unveiling its own crypto wallet very soon and recently thanked all its users that took part in Beta testing over the past months.

The Beta testing process was vital in ensuring that the new application is not only secure and easy to use, but can also support enhanced features as they continue to innovate it.

The crypto wallet is expected to be launched on a phased basis both in terms of users, with a country by country roll out, and in terms of functionality according to eToro.

The eToro wallet mobile application will be available via Google Play and the Apple App Store. It will provide an easy-to-use customer interface and enhanced security with multi-signature which will give users the ability to see their on-chain transactions and balances without the fear of losing their private key.

At launch, the crypto wallet will be expected to give users the ability to store Bitcoin, Bitcoin Cash, Ethereum and Litecoin in their eToro wallet. As a multi-crypto on-chain wallet, the number of supported cryptos will also increase over time.

eToro Launching Its Own Crypto Wallet Soon - Newslibre
The eToro wallet will provide an easy-to-use customer interface and enhanced security with multi-signature which will give users the ability to see their on-chain transactions and balances without the fear of losing their private key.

According to eToro, due to the risks involved in moving crypto from cold storage to a multi-signature crypto wallet, making transfers from the wallet will be available up to the total amount which the user has deposited by wire transfer.

The ability to transfer crypto from eToro to the wallet will be available to Platinum Club members for Bitcoin and will gradually be extended to all users in the future.

‘The wallet is a key step in our vision of opening the global markets for everyone to trade and invest in a simple and transparent way’, according to eToro.

‘We are excited not only by the forthcoming launch, but also by the future innovations that we will bring to the wallet which include supporting additional crypto and fiat tokens, the ability to deposit fiat, crypto to crypto conversion, payment in store and more.’

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Author: Emmanuel Luvuuma

Emmanuel is a freelance writer and an advocate for digital inclusion across Africa. He has taken on many roles such as the Community Manager for Kafeero Foundation, a Digital Skills trainer and as an IT Support Guru.

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