eToro Adds IOTA to Its Crypto Trading Platform

eToro, an Israeli-based social trading and multi-asset brokerage company, has revealed that IOTA is now available on its platform.

We are pleased to inform you that our selection of cryptocurrencies is continuing to expand, and IOTA is now LIVE on eToro.

eToro has also published an official blog post that outlines IOTA for consumers unfamiliar with the platform.

In the post, eToro explains that "IOTA is a platform designed for enabling fast communication and transactions for IoT platforms."

In the near future, a smart fridge could 'sense' that you are running low on orange juice and autonomously order more from your grocery store. This scenario requires a platform that could both relay the messages between the machines and take care of the financial aspect of the transaction. And that is what IOTA is trying to do."

Utilizing Tangle technology, IOTA allows multiple devices to communicate on an extensive network that becomes stronger as it grows.

Unlike most blockchain platforms IOTA doesn't have specific nodes to verify transactions or miners.

Overall, it appears that many eToro users are upset that the platform is focusing its efforts on adding an additional cryptocurrency, rather than improving its wallet.

eToro Expands to the U.S. In May, eToro unveiled that it would make its way into the U.S. by the end of the year.

It is currently unknown if IOTA will be offered to U.S. eToro investors at launch.