eToro becomes first platform to list Binance Coin (BNB) for trading, taking the total number of crypto assets listed on the platform to 13 digital assets.
According to its press release, eToro becomes the first investment platform to list BNB outside the Binance, and it now offers its investors the ability to trade in both utility and security tokens on the platform.
Changpeng Zhao, Founder, and CEO of Binance said the listing of the BNB on eToro opens the token to a new market.
We are honoured and excited to be listed on eToro. With this addition, the Binance coin can reach millions more people, many of whom are more accustomed to the traditional financial industry. As an utility token, we believe in creating long term utility and value. We will continue to do so together with eToro.
Like all other cryptoassets, investors choosing BNB on eToro own the real underlying asset, with eToro acting as custodian.
Yoni Assia, Co-founder and CEO at eToro commented:
Despite sensational headlines about the death of crypto, we continue to believe in the potential for crypto assets, as do our clients who are increasingly looking to diversify their crypto holdings. In response we will continue to add the leading crypto assets to our range and we are pleased to add BNB to the platform.
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 tokenisation of securities. In fact, we believe that in the future we will see the greatest transfer of wealth ever, onto the blockchain.
BNB, now available on the eToro platform, is suitable for a wide variety of traders with differing agendas. Long-term traders can benefit from the absence of overnight fees and maintain a hold position on BNB, predicting a rise in its popularity and value. Day traders can anticipate the potential for volatility that often provides the opportunity for short-term gain. Over the last several years, cryptocurrencies have a track record of being extremely volatile.Those new to cryptocurrency trading may wish to consider BNB as a viable option. It is considered more stable than the majority of other cryptocurrencies, as it is backed by a single exchange with a public address. Conversely, nobody knows the identity of the person who invented Bitcoin, despite its decade-long existence.
Posted on: 30/10/2018