Investment exchange giant, eToro, has recently added the cryptocurrency, Cardano (ADA), to its stable of offerings on its exchange. This brings the total of cryptocurrencies on eToro to 11 after it added Stellar Lumens (XLM), NEO, and EOS earlier this year. At the time of writing, the price of Cardano was around $0.16 having peaked at $0.45 around January of this year.
Launched in September 2017 when the crypto boom was about to begin, Cardano is a blockchain platform which is designed to run various applications such as smart contracts and DApps (decentralized apps). It was created by Input Output Hong Kong (IOHK) and its development was led by former Ethereum co-founder Charles Hoskinson. Cardano’s developers created its architecture in a way that makes the implementation of new changes such as soft forks easier than in other cryptocurrencies.
In a statement, eToro explained that Cardano could be an interesting investment opportunity over a long-term period.
“Cardano is the latest cryptocurrency to be added to eToro’s selections. eToro clients can now trade and invest in ADA and add the crypto to their portfolios. As the blockchain revolution continues, it can be assumed that companies that present added value, such as Cardano’s blockchain development platform, will have a stronger foothold in the market. While some other cryptocurrencies could fall to the ebb and flow of supply and demand, Cardano’s strong, highly-regarded blockchain platform could be a driving force in maintaining its position as one of the world’s leading cryptocurrencies.”
eToro also launched BTC/EUR and BTC/EUR trading pairs which should see a boost in investors whose native currency is the Euro. This currency pair is especially suitable for traders who wish to track developments in this currency. The same obviously goes for Ethereum.
eToro currently offers 11 cryptocurrencies for investment on its platform. The other options are Bitcoin, Ethereum, Litecoin, Ripple, Bch, Ethereum Classic, DASH, Stellar, NEO, and EOS. EOS is currently suspended from trading on eToro until the volatility from the post mainnet launch settles according to the exchange.
Jay is pretty interested in the crypto space. He’s written for several publications on the topic and has lots of ideas on how the world can be made a better place with blockchain technology. He’s also a fintech journalist with some years of experience and enjoys writing about new startups, ICO’s as well as any other intriguing news that catches his fancy.