New crypto assets on eToro: ALGO, MATIC and BAT
eToro has added three new assets to its cryptocurrency offering.
These are Algorand (ALGO), Basic Attention Token (BAT) and Polygon (MATIC), bringing the total number of crypto assets on eToro to 26.
eToro explains that Algorand, a blockchain that supports smart contracts and was created to support an open, borderless economy, is the first proof-of-stake based cryptocurrency that allows a single ALGO to become a node within the blockchain, without requiring forks. It also allows transactions to be executed almost automatically thanks to self-validated transactions.
Polygon, formerly known as Matic Network, is a technology for scaling Ethereum, based on the Polygon SDK component, which is a modular and flexible framework that supports the creation of multiple types of applications.
Finally, BAT (Basic Attention Token) is a token that users can earn using the Brave browser.
New assets on eToro
Recently eToro had also added Chainlink (LINK), Dogecoin (DOGE) and Uniswap (UNI), as well as Aave, Compound, Yearn.Finance and Decentraland.
eToro was founded in 2007 with the aim of opening up the global markets so that everyone could trade and invest in a simple and transparent way. Today it has over 20 million registered users worldwide who share their investment strategies, so anyone can follow the approaches of those who have been most successful with trading.
It began offering access to crypto markets in 2013, and in 2018 the platform launched a cryptocurrency exchange, eToroX, and a wallet, with the aim of becoming the first global service provider that allows everyone to trade, invest and save.
VP of Business Solutions at eToro, Doron Rosenblum, said:
““eToro continues to expand our range of cryptoassets in order to offer our users choice as well as more options to diversify their portfolios. We plan to add more tokens as the year unfolds.
As always, we urge investors to do their research. Just as each stock has a business case, each crypto has a whitepaper that details its use case. We strongly advise our users to be cautious and remember that when investing, it is wise to diversify and only invest in markets and instruments with which you are familiar”.