One of the biggest questions for the future of crypto is who will reach mass adoption first? According to The Next Web exchange eToro is working towards this goal by reducing fees for potential investors.
The exchange already has about 10 million traders, but in order to expand this number the company has taken the step of slashing the costs of trading cryptocurrency, a potential gamble which could drive huge adoption or limit the profitability of the trading platform. eToro has always been focused on growing the crypto space, combining its social networking platform with crypto trading.
eToro CEO Yoni Assia said of the move, “we’re committed to supporting the mass adoption of crypto. We want to make it as simple and accessible as possible for investors to buy, sell or hold crypto.”
$13 billion wiped off the crypto market: The cryptocurrency market plunged over the past 24 hours, #Bitcoin dropped more than 4% while #BitcoinCash plunged more than 10% and 6 other top 10 cryptos registered losses of 8% or more. Also, eToro slashed #crypto fees.— eToro (@eToro) October 11, 2018
This is the latest of a number of ventures the company has put forward of late to drive up trading numbers, which include sponsoring sports teams, and expanding fiat-to-crypto trading pairs.
With the volatility of the market a consistent concern for those currently in the crypto space, it is crucial for exchanges to actively court potential investors in order to grow. Assia said of the state of the market, “yes, crypto is highly volatile’ but that, “Crypto is here to stay, we believe that in the future all assets will be tokenized and that crypto is just the first step on this journey.”