eToro, the European cryptocurrency broker, announced Tuesday that it would soon launch a wallet, a move that would allow a few of its 10 million users to transfers coins off its platform.
Currently, customers of the firm can only buy and sell crypto but can’t move those coins to their own wallets. That’s a similar setup to Robinhood Crypto in the US, although the firm has also been looking into building its own wallet.
To be sure, the ability to send coins from the eToro platform to its wallet will only be available to start for bitcoin and for a select number of customers. Per the release, “the ability to transfer crypto from eToro to the wallet will be available to Platinum Club*** members for Bitcoin.” The firm defines Platinum Club members as those traders with at least $25,000 on the platform, the release said. It’s not clear how many users fall under that umbrella. We’ve reached out to a press representative for clarification and will update this post if she responds. The firm plans to expand the offering over time to more users and coins.
“The eToro wallet today is just the beginning and we will be adding a whole host of additional functionality which will include supporting additional crypto and fiat tokens, crypto to crypto conversion, the ability to deposit fiat, payment in store and more,” Yoni Assia, CEO of eToro, said.
Reporting by Frank Chaparro in New York.
The post Crypto broker eToro confirms it is rolling out a wallet appeared first on The Block.
Crypto broker eToro confirms it is rolling out a wallet written by Frank Chaparro @ https://www.theblockcrypto.com/tiny/crypto-broker-etoro-confirms-it-is-rolling-out-a-wallet/ November 6, 2018 Frank Chaparro