Cardano (ADA) just became the 11th currency to be included in eToro, a social trading network with over 10 million users. Currently, the only trading pair available for Cardano is USD but the exchange will soon add more options. The European investment hub has currencies already has BTC, BCH, ETH, XRP, DASH, LTC, NEO and XLM listed in its exchange.
Cardano currently holds the eighth highest valuation in the crypto world, with a $4 billion market capitalization. According to eToro, the coin was constructed “according to a scientific philosophy” by leading “academics and engineers” and operates in two layers: handling transactions and processing smart contracts.
Co-founder and CEO of eToro, Yoni Assia said,
“We are seeing growing interest in new cryptocurrencies increasing all the time. We are committed to bringing the top traded crypto assets onto our platform for our users to invest in.”
eToro is a social trading broker, meaning that it offers customers the option of copying the trading behavior of other customers, which is good if they are too busy or not experienced. It offers trading in foreign exchange, stocks, and CFDs. It employs around 500 people and has offices in the UK, Cyprus, and Israel. It was founded in 2007 and began offering Bitcoin trading in January 2014.
Their new platform will include a community tool that lets account holders chat with other American traders and investors about cryptocurrencies while documenting the strategies of more experienced clients. It will also allow clients to invest directly in coins, copy the activities of other traders or buy a portfolio of major crypto assets through a Crypto CopyFund. The company hasn't announced the opening date, but eToro.com now lets U.S. residents sign up for a waiting list.
Cardano was added to South Korea’s largest cryptocurrency exchange Bithumb just this week. They are a blockchain development platform introduced by Input Output Hong Kong (IOHK) and launched in 2017. Its cryptocurrency, ADA, shot up the ranks in the year’s bullish end when BTC was valued at more than $15,000. It is a third-generation cryptocurrency and smart contract platform that claims to improve upon the scaling problems of Bitcoin, a first generation coin, and Ethereum, a second generation coin.