eToro is a trading platform and app, which has in roots in traditional financial assets. It was founded a year before Bitcoin was created, but has recently integrated cryptocurrency into its platform.
The eToro Wallet is mobile-compatible and brings cryptocurrency to a user base of millions, under a name that they trust. Users are able to use the wallet to send and receive cryptocurrencies along with transferring them to the eToro trading platform and exchanging them for different assets.
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The company raised $1.7 million in Series A funding in 2007 from six different investors, including Pitango Venture Capital, Cubit Investments, BRM Capital, and three independent investors.
Since then, they have hosted several further rounds of local and international funding. Their most recent funding round was a Series E raise, capturing $50 million from China Minsheng Financial Holdings from Hong Kong, and US-based Bracket Capital.
eToro, being an extremely well-established CFD trading platform, already has the trust, infrastructure, and user base to onboard users into the cryptocurrency world.
By making a cryptocurrency wallet available to their millions of existing customers, users can quickly and easily use a familiar app to branch out into cryptocurrency services.
How does buying cryptocurrency at eToro work?
To get started, visit https://www.etorox.com/crypto-wallet/ on your mobile device, and download the eToro Wallet app.
Open the app, and press the blue “Sign Up” button.
Users will then enter their details manually, or select one of the Facebook or Google sign-up options.
Users will then be taken to the portfolio page, where they can return later to view their asset holdings. To view and purchase available cryptocurrencies, tap the button in the bottom-right corner of the screen.
From here, users can see the current pricing of available cryptocurrency assets. To purchase one, they will click on their asset of choice.
To make a purchase, they will then tap the green “Buy” button.
Users will then enter the amount they would like to purchase, denominated in fiat currency. To confirm the purchase, they will then press the “Open Trade” button.
For those who are not already a registered eToro user, they will be required to provide a few additional details, as well as fund their account. This can be easily done using a variety of payment methods including credit/debit card, PayPal, wire transfer, and UnionPay.
Once the purchase is completed, users can view their new cryptocurrency balance within the portfolio page of the app.