eToro Announces Addition of Polkadot and Filecoin to Its Investment Platform

By October 5, 2021Polkadot
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eToro, one of the leading global multi-asset investment platforms, announced today that the company has added Polkadot, the world’s 9th largest digital asset, and Filecoin, the 24th most valuable cryptocurrency, to its crypto offering.

In an official announcement shared with Finance Magnates, eToro mentioned that the company’s offering now consists of 31 cryptocurrency assets. Since the start of 2021, the financial services provider has expanded its crypto offerings significantly with the addition of several digital assets including Chainlink, Dogecoin, Uniswap, Aave, and Compound.

Polkadot (DOT) is one of the top 10 digital currencies in the world. At the time of writing, the market cap of DOT stands at around $31.4 billion. Polkadot is now more valuable than Dogecoin and Litecoin. On the other hand, Filecoin (FIL) saw a jump of more than 250% in 2021. The digital asset currently has a market capitalization of approximately $8 billion.

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Commenting on the latest addition of Polkadot and Filecoin, Doron Rosenblum, VP of Business Solutions at eToro, said: “Despite recent volatility in the crypto market, we continue to see increasing interest in the asset class from both institutional and retail investors, who believe in the long-term potential of crypto. We are committed to offering our users more opportunities to diversify their portfolios with a broader range of crypto assets. We will continue to expand our range of crypto assets with more coins coming soon.”

Popularity of Cryptocurrencies

Digital currencies gained immense popularity in 2021 as the overall global users jumped by more than 100% within the first six months of the year. The overall demand for cryptocurrency assets reached a record high in H1 2021. In the latest announcement, eToro outlined that its clients can easily buy, hold and sell the real underlying assets of DOT and FIL on its investment platform, using fiat currency.

“As always, we urge investors to do their research. All crypto assets have whitepapers that detail their use case. We strongly encourage our users to be cautious and remember that when investing, it is wise to diversify and only invest in markets and instruments with which you are familiar,” Rosenblum added.

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