On April 16th 2019, eToro founder and CEO Yoni Assia has agreed to do an exclusive interview for Crypto Insider at the Paris Blockchain Week Summit. It was on the same day that the global launch of cryptocurrency exchange eToroX took place, and the time seemed right to reflect on how far the social trading company has come in terms of integrating digital assets.
To North American audiences, eToro is the European and Asian equivalent of Robin Hood: it offers quick and easy onboarding with your credit card, and allows anyone to start trading stocks, commodities, bonds, and cryptocurrencies. And now that eToroX has gone live, Coinbase has a worthy competitor with a greater experience in the world of trading and stock markets.
In this exclusive interview, eToro CEO Yoni Assia talks about the timeline of the platform’s involvement in crypto, its various phases of switching from CFD (Contract for Differences) to real holdings, and the features of the newly-launched exchange.
On eToroX’s KYC and AML practices in relation to privacy
Another important topic that should be of interest for crypto traders concerns the KYC/AML techniques used by eToroX. As you’re about to find out from this 17-minute interview, you should definitely think twice before sending your mixed bitcoins to a regulated exchange like eToroX. While the outputs are clearly preferable to those that are associated with Silk Road, it’s better to be cautious before making such a transaction that looks suspicious.
As a way of mediating between the requirement for privacy and government regulation, Mr. Assia talks about the fine line between the two concepts and how it’s up to authorities and sovereign individuals to find a middle ground. Until then, regulated cryptocurrency exchanges must comply with the laws of multiple jurisdictions and make sure that all the provisions are being respected, which automatically removes a layer of privacy.
On Yoni Assia’s open approach to eToro and his investments
Anyone using the eToro social trading platform can see that Yoni Assia owns large amounts of Bitcoin and Ethereum, which take up a significant percentage of his portfolio. More specifically, Mr. Assia’s holdings consist of 26.81% BTC and 21.56% ETH.
This long-term investment also functions as a guarantee that the CEO is bullish on the future of crypto’s two larges assets, and believes in the underlying technology much more than he cherishes profits from trading. Furthermore, every used on the platform is able to see which version of Bitcoin Mr. Assia thinks is the real one, how much he believes in Ethereum killers, and which eToro traders he vouches for. As a matter of fact, anyone can go on and copy the trades of Yoni Assia on a smaller scale, which has been one of the features of eToro since day one.
The above is to be considered opinion and not investment advice in any way, as an unbiased media, no one interferes with the Editorial content of CryptoInsider.com, writers have freedom to choose their own direction, members of Crypto Insider do not participate in trades based on content.
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