Social trading network eToro has added support for Neo to its platform, bringing the total number of crypto assets available on the platform to nine. It will now trade alongside bitcoin, ethereum, Bitcoin Cash, XRP, Litecoin, Ethereum Classic, Dash and Stellar.
eToro enables users to watch the financial trading activities of other users, copy them, and make their own trades. The company’s product, OpenBook and WebTrader, allows traders to learn from each other, share live trading information, and capitalize on their collective power.
Launched in 2014, Neo, formerly AntShares, was created as a blockchain application platform, and a smart contract system called NeoContract. There are two cryptocurrencies used in the Neo network: NeoGas (GAS), which is used to execute apps, and NEO, which is used for management purposes, such as voting on the platform. Like a publicly traded company, each Neo represents one vote, which is the reason it cannot be divided. It has a market cap of around $8.1 billion making it the seventh largest cryptocurrency.
In addition to eToro clients’ ability to buy and sell NEO tokens, the cryptocurrency will also be added to eToro’s Crypto CopyFund, which uses contracts for difference (CFD) to enable investors to diversify across all available cryptocurrencies.
Commenting on the addition of NEO, eTor co-founder and CEO Yoni Assia said that 2018 has seen a shift away from mainstream digital currencies with the market share of altcoins set to continue increasing.
“We are constantly seeking to identify and assess new concepts as they emerge and we are committed to bringing the best crypto assets onto our platform for our users to invest in,” Assia added. “We’re excited to have brought NEO and Stellar onto the platform already this year and we look forward to seeing how the market develops in 2018 following a very successful 2017 for the crypto community.”
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