EToro, the world's largest social investment network, has announced its members can now invest in Bitcoin, a major development in improving access to the digital-only currency.
At the same time, eToro has reached a major landmark. Its users have made more than 100 million investments in foreign currency, shares, indices and commodities through the online social network.
Bitcoin investments can be made via contracts for difference (CFDs). Due to Bitcoin's price volatility, eToro will execute orders four times a day while encouraging its members to consider this a long term investment.
In adding Bitcoin, eToro offers new opportunities to invest based on social principles, the demand for which is clear from the record level of investments made via the network. eToro's success is based on simplicity and complete transparency. Members can share, follow and copy each other's investments so even those without any prior knowledge or experience have the confidence to access the financial markets.
The minimum investment within the eToro network is just $10, meaning that all types of investments - Bitcoin, shares in Apple or the Japanese Yen - are available to the everyday investor.
"Both eToro and Bitcoin were born out of the social revolution," says Yoni Assia, Founder and CEO of eToro. "It's therefore very apt for us to take the lead in making Bitcoin - essentially the world's first crowdsourced currency - available to the masses. Through our social network, individuals can easily and conveniently invest in Bitcoin and take advantage of a new type of investment either with their own strategies or by harnessing the wisdom of our members."
At the end of last year, Tech City UK, a Government backed organisation, announced that eToro had been accepted on to the Future Fifty programme, a scheme that supports high-growth businesses. eToro is authorised and regulated by the Financial Conduct Authority.