E*Trade, a popular financial company that brokers stock market investments, is rumored to be approaching the launch date of their cryptocurrency trading operations, according to unknown sources in a Bloomberg news report. If true, this will open up the gates to the cryptoverse for thousands of investors that have been waiting for a secure opportunity to get involved. The company has generated $6.5 billion USD in 2018, so it’s exciting to see how the incorporation of cryptocurrency will affect their bottom line.
The sources explain that Bitcoin and Ethereum will be the first ones to be added to the platform, while other currencies will be considered in the future. There is a significant momentum to the market that supports this potential move by E*Trade, as other cryptocurrency trading platforms have been blooming, and with the activation of the New York Stock Exchange’s activities into crypto (via Bakkt), a new standard may be set for stock exchanges.
Likely in the near future, cryptocurrency will be a very expected asset to be found even on stock exchanges, adding an incredible amount of credibility to the space. There are dangers to this type of development, as cryptocurrency exchanges have experienced in the past. Crypto is difficult to secure, and would cost these companies additional manpower and resources to do it correctly. Many exchanges have suffered hacker attacks in the past and it has cost traders and investors a significant amount of money.
What do you think? Will stock exchanges be able to deal with the security needs of crypto, and will they implement them correctly?
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Author: Zoran Spirkovski
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