Social Trading Tech Platform Adds Bitcoin, Removes Need For Wallet

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Social trading technology platform ayondo has become the latest fiat finance operator to add Bitcoin to its books.

Traders can now gain exposure to the virtual currency via ayondo’s TradeHub offering, utilizing spread betting and so-called contracts-for-difference (CFD) trading.

“The recent development of Bitcoin and the associated interest in Bitcoin is immense,” a company press release quotes CPO Raza Perez as saying.

“In times of low volatility at the financial markets, the high variation in price offers an excellent trading opportunity. With the launch of Bitcoin we follow the demand of our clients and further strengthen our product range.”

The UK company is just the latest to experiment with increased association with cryptocurrencies.

No need for wallet

Earlier this month, London-based eToro announced it was expanding its current Bitcoin and Ethereum (ETH) trading offer with Ethereum Classic (ETC) while launching a crypto-focussed advertising campaign targeting city investors.

Meanwhile, ayondo will not require customers to open a wallet in order to trade. Its model of “social investing,” which has been around in various guises for several years, facilitates insider knowledge sharing by allowing less experienced users to copy the performance of top earners.

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