Global investment platform, eToro, announced on Monday that its eToro Wallet mobile app is now allowing users to buy cryptocurrency with fiat. According to eToro, all cryptoassets available in the eToro Wallet (currently Bitcoin, Ethereum, Bitcoin Cash, Litecoin, and XRP) may now be purchased directly in the wallet app using a credit or debit card (Visa, including Visa Electron and Visa Plus, MasterCard, Maestro, and Cirrus). At present purchases can be made in euros or pounds sterling.
While sharing more details, Doron Rosenblum, Managing Director of eToroX, stated:
“We are pleased to have provided our wallet users with a convenient way to buy crypto with fiat within our wallet app. A key barrier to the mainstream adoption of cryptoassets is the user experience, and this new functionality enables people to purchase crypto straight from their card. This is exactly how users expect to transact online.”
Yoni Assia, Co-founder and CEO of eToro, then noted:
“Just as eToro has opened up traditional markets for investors, we want to do the same in a tokenized world and the creation of eToroX and the eToro wallet will help us do this. We believe that cryptoassets and the blockchain technology that underpins them will revolutionize global finance. In the future all assets will be tokenized and we are just taking the first steps on this journey. Removing obstacles when purchasing crypto will help drive mass adoption.”
The eToro Wallet news comes just days after eToro launched its cryptocurrency trading platform and wallet in the U.S. eToro reported that eth the launch, U.S. customers with diverse levels of expertise may use its platform to collaborate with one another to find cryptoasset trading strategies.
“At eToro, you can share your real track record, portfolio, and trades with the community, allowing users to engage with each other on trading ideas that are executed using real dollars. For those new to crypto trading, the community and educational resources introduce users to this new asset class and the risk profiles involved in it.”