eToro, the global investment platform with over 10 million registered users, confirmed their roll out of a crypto wallet to both Android and iOS users.
“We believe that in the future all assets will be tokenized and that crypto is just the first step on this journey. Just as eToro has opened up traditional markets for investors, we want to do the same in a tokenized world. The eToro wallet is a key part of this,” Yoni Assia, CEO of eToro, said.
Not every exchange has a separate wallet app. For example, Binance, one of the world’s most popular crypto-to-crypto exchanges, only recently has acquired the mobile wallet operator Trust Wallet.
Visualization of the wallet. Source: eToro
The eToro wallet, which promises an “intuitive customer interface and enhanced security”, is now available on Google Play and Apple’s App Store. For starters, it will only support Bitcoin, Bitcoin Cash, Ethereum, and Litecoin, but eToro says they will be expanding this list in the near future.
However, eToro is only releasing the wallet for certain customers and countries, in order to “ensure a smooth experience”. This means that, if you can’t currently find the app in the app store, you might have to wait a bit. Initially, the ability to transfer crypto from eToro to the wallet will be available to Platinum Club members for Bitcoin. This will gradually be extended to more users and a greater number of crypto assets. To be a Platinum Club member, you need to have more than USD 25,000 in equity on the platform.
The wallet will feature multi-signature security to prevent accidental loss of private key. It will also enable crypto to crypto conversion, the ability to deposit fiat, and in-store payments. “The eToro wallet today is just the beginning and we will adding a whole host of additional functionality,” Assia added.
eToro recently made a viral ad featuring actor Kristian Nairn, better known as Hodor from the TV series Game of Thrones, to the amusement of the community. The wallet itself, meanwhile, was announced back in May, when the company also teased a new cryptocurrency-only exchange desk, slated to launch in Europe and later in the US.
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