Note – This post doesn't apply to US customers
eToro is making history by paying for an advertising deal using Bitcoin! If you watch the premier league then chances are you've noticed advertising for eToro but what you might not have known was this deal was paid for using cryptocurrency.
What is eToro
eToro is a multi-asset platform where you can buy cryptocurrencies alongside traditional assets like stocks, forex etc. I use eToro for trading stocks (such as my recent Facebook experiment) as well copy trading. Copy trading is where you automatically copy the trades made by other traders. eToro is one of the worlds largest copy trading platforms.
eToro has partnered with Tottenham, Brighton, Crystal Palace, Cardiff, Leicester, Newcastle and Southampton. At the moment this is just an advertising deal. But in the future eToro sees hugh opportunities for blockchain applications in football. The blockchain could potentially address issues with Ticket touts and fake merchandise and I could see the blockchain potentially being used to help govern and control ownership of football clubs (imagine an ICO for a football team!).
It's good to see Bitcoin actually getting some usage and continuing its push into the mainstream.
eToro and Cryptocurrency
eToro announced earlier this year that they are really pushing hard into crypto-assets. They've opened up cryptocurrency trading to the U.S. They've added new crypto-assets to their platform like EOS and Cardano and hinted at launching a wallet. I'm obviously a big fan and investor in cryptocurrency and I believe it's the future. It's good to see legacy companies such as eToro really embracing this new space and pushing it forward.