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eToro Announces Support for Binance Coin on its Trading Platform

· 03 Nov 2018 in Crypto News
Carlos is an international relations' analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.

The popular multi-asset trading company eToro announced it is supporting a new coin on its platform. Binance Coin (BNB), the currency linked to the Binance cryptocurrency exchange is the 13th virtual currency to be added to eToro. The information was released by the company in a recent tweet.

eToro Adds Binance Coin to its Trading List

Users at eToro will now be able to trade Binance Coin on their platform. In this way, the number of cryptocurrencies supported continues to grow over time. eToro currently lists Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), XRP, Litecoin (LTC), Ethereum Classic (ETC), Dash, NEO, Stellar (XLM), IOTA (MIOTA) and Cardano (ADA).

Yoni Assia, co-founder and CEO of the platform, said that the platform is a true believer of crypto potential. Binance Coin can be used at the Binance exchange in order to pay for trading fees. Users get discounted rates if they decide to use BNB tokens. With this listing, eToro users will be able to diversify their cryptocurrency portfolios even further.

Assia said hat portfolio diversification was one of the reasons they’ve decided to add this token. Users have been requesting new cryptos to be added to the platform, and eToro has decided to add support to BNB.

BNB has always been considered a utility token that helped users transact on the Binance exchange. However, BNB’s status continues to grow as a utility token since there are more use cases for it.

However, Assia and eToro do not have a problem with this. About it, he commented:

“As a regulated securities broker, we have the ability to offer both utility and security tokens on our platform. We support the movement of assets onto the blockchain and the tokenization of securities. In fact, we believe that in the future we will see the greatest transfer of wealth ever, onto the blockchain.”

At the time of writing, Binance is the largest crypto exchange by trading volume in the last 24 hours. The exchange registered a trading volume of $611 million dollars during the last day. The most traded pairs at the exchange are BTC/USDT, WRP/BTC and ETH/BTC, accounting for 22% of the trading volume.

Binance Coin is currently the 14th most valuable virtual currency in the market. Indeed, it has been one of the least harmed cryptocurrencies after the bear market. And indeed, it allowed the exchange to continue its growth trend during the last year. Each BNB token can be bought for $9.35 dollars and it has a market capitalization of $1.22 billion dollars.

 

Carlos is an international relations’ analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.

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