In the past, there have often been many hacks by large stock exchanges where thefts in the millions have taken place. One of the world’s largest cryptoexchanges, eToro, has launched its own wallet that securely stores digital currencies, but also offers the ability to deposit fiat currencies on them.
The eToro Wallet is offered by the company eToro X Limited and is now available for download both in the Google Playstore and in the Apple Store. For the time being, the currencies Bitcoin, Ethereum, Bitcoin Cash and Litecoin can be stored on it. Similar to eToro, the wallet will support additional crypto currencies step by step.
The special feature of the Wallet is that no private key is required and in this case it can neither be lost nor misused. To gain access to the wallet, simply enter the eToro platform login data. To increase security there is a 2-factor authentication as well as multi-signature functions.
The wallet can be used to send crypto currencies between wallets, to pay out crypto coins from an online exchange and to transmit crypto coins from trading platforms.
For the start of the project eToro Platinum members Bitcoin can move to the wallet. Very soon, however, the wallet will be accessible to every verified eToro user. Yoni Assia executes:
The eToro Wallet we present today is just the beginning. We are adding a number of additional features to this product, including support for additional crypto currencies and Fiat tokens, crypto-to-crypto conversion, Fiat currency deposit, retail payment and much more.
The wallet is integrated directly into the eToro platform and enables the transfer of crypto assets to other external wallets such as the Ledger Nano S which is one of the hardware wallets.
Customers of eToro get the possibility to store their crypto credit safely and efficiently. Furthermore, the wallet was developed by a renowned company and meets the highest safety standards. The Wallet is constantly extended by new functions, so that users are always on the latest state of the crypto market and technology.