eToro makes Tezos available for retail investors

eToro, the global investment platform with over eleven million registered users, today added the Tezos token to its platform, giving people the chance to invest in the world’s first self-amending crypto. This brings the total number of cryptoassets available on eToro to 15.

Driven by American couple, Arthur and Kathleen Breitman, Tezos is designed to make use of institutional-grade smart contracts, similar to the Ethereum blockchain. The aim is to create a ‘true digital commonwealth’ powered by the world’s first ‘self-amending’ cryptoasset.

Yoni Assia, co-founder and CEO at eToro, commented: “Tezos is making great progress and some banks are already choosing its blockchain network for security token offerings worth over a billion dollars. As we see financial institutions move more into the world of crypto, it is important that ordinary investors can take advantage of these technological developments, which is why we’re excited to be adding coins like Tezos to eToro.

“eToro is the only place you can trade traditional assets like stocks and commodities, alongside new products such as cryptos. We launched the eToro with the idea of opening up financial markets for everyone and giving investors access to the assets they want is an important part of this mission. Bringing cryptoassets like Tezos to the masses is a key part of this.”

Unlike many cryptos, there is no mining of Tezos tokens known as tez (XTZ). Instead, holders are rewarded in XTZ for taking part in the proof of stake consensus protocol. Its ‘self-amending’ mechanism also enables the Tezos network to evolve without disrupting consensus amongst its developers, lowering the risk of a hard fork. Its name comes from a Greek word meaning ‘smart contract’.

As investors increasingly seek to diversify their crypto holdings, Tezos joins Bitcoin, Ethereum, Bitcoin Cash, XRP, Litecoin, Ethereum Classic, Dash, Stellar, NEO, EOS, Cardano, IOTA, ZCASH and Tron on the eToro platform.