eToro ramps up crypto listings with Serum, Amp and My Neighbor Alice
Serum (SRM), Amp Token (AMP) and My Neighbor Alice are the next coins to join eToro’s list of featured digital assets.
According to the company, these tokens have made the ranks as the latest addition in order to offer eToro customers diversity in their cryptocurrency portfolio.
The altcoins will be available for trading on the platform alongside 70 crypto assets including BTC, ETH, BCH, LTC, XRP, DASH, ETC, ADA, XLM, EOS, NEO, TRON, ZEC, BNB, XTZ, LINK, UNI, COMP, AAVE, YFI, MANA, ALGO, MATIC, BAT, MKR, ENJ, FIL, DOT, SOL, ATOM, GRT, CRV, 1INCH, SUSHI, $CHZ, QNT, AXS, CELO, SAND, DOGE, FLR, SHIBxM, FET, SNX, BNT, ZRX, DYDX, REN, HBAR, AVAX, STORJ, BAL, GALA, LRC, APE, THETA, FTM, ENS, CRO, UMA, API3, KNC, IMX, LPT, CTSI, OGN, BICO, FTT and MIOTA.
For those who haven’t been kept in the loop, Serum is an orderbook based, non-custodial DEX that’s built on Solana. It mimics the trading mechanism of traditional exchanges. SRM is Serum’s utility token, and grants holders trading fee discounts and the ability to participate in governance.
As for Amp, it is an open-source platform with an ERC-20 token created on Ethereum to serve as a collateral asset and enable quick and secure investments in the practical market. With smart contract capabilities explicitly designed for collateral, Amp assists users in decentralizing risk.
Israeli social trading network also added support for My Neighbor Alice, a play-to-earn game on Ethereum. Alice tokens are used for staking, making in-game purchases, and governance.
eToro does not adhere to offering crypto CFDs
Earlier this month, eToro lifted the suspension and allowed trading again on Terra’s Luna. Similar to how they announced the suspension, the broker advised traders to be cautious as there’s still doubts over its security and certainty. Unwilling to give room to criticism, eToro advocated personal research to be carried out before acting on the announcement.
The introduction of new instruments adds to eToro’s rapidly expanding suite of cryptos. The Israeli social investment platform has had a string of recent announcements in a major push to attract crypto traders and grow its user base.
Unlike many other brokers, eToro does not simply adhere to offering crypto CFDs but also allows clients to purchase the assets, with eToro acting as custodian and holding the digital coins on behalf of clients.
We reported about eToro last week when it has registered its cryptocurrency services with the dual regulatory structure in France. The new license allows eToro to offer regulated services under legislation governing operations of digital asset service providers (DASPs), namely France’s PACTE law, one of the first crypto legislative packages passed in Europe.