New assets on eToro: Aave, Compound, YFI and MANA
eToro has added new assets to the platform: as of yesterday, Aave, Compound, Yearn.Finance and Decentraland are also listed.
A total of 23 cryptocurrencies can now be traded on eToro (20 for US clients).
The new assets listed on eToro
AAVE is the cryptocurrency with the largest market cap of the newest assets listed by eToro. Known in the industry for its flash loan platform, Aave is the governance token of the eponymous protocol.
COMP is the governance token of the Compound protocol, which provides cryptocurrency deposits and loans while earning interest.
Yearn Finance with its YFI token has become one of the most important protocols for decentralized finance.
Finally, Decentraland is the Ethereum-based protocol that creates a virtual reality world similar to Minecraft on the blockchain. MANA is the token used to buy objects, ranging from land to real estate in the Decentraland world.
AAVE, COMP, YFI and MANA join other assets listed by eToro in April, including Dogecoin.
A sign that eToro wants to improve its users’ experience by providing them with more and more cryptocurrencies to trade with. This also allows the platform to be competitive against other exchanges.
However, eToro has more experience than others: active since 2013, it has reached 20 million customers. And it could expand its offering further, as Doron Rosenblum, VP of Business Solutions at eToro, explains:
“eToro’s plan this year is to expand our range of investments so users have as wide a range of choices as possible available to them and the opportunity to diversify their portfolios across a wide range of use cases. With the addition of these four tokens we are continuing on that journey, and we expect to add more tokens later this year”.
But trading is not a game, which is why eToro while aiming to give users the best possible experience, urges them to study before investing:
“As always, we urge investors to do their research. Just as each stock has a business case, each crypto has a whitepaper that details its use case. Be cautious and remember the basic tenets of investing; diversify and only invest in markets and instruments with which you are familiar.”