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eToro, a social trading platform based in Tel-Aviv has enlisted one of Hollywood’s biggest stars, Alec Baldwin, as a spokesperson to help promote one of its newest projects.
The company recently launched a new “Copy Trading” feature for US traders that will copy other well performing crypto-traders. Nothing is cast on stone and there are different possible outcomes.
eToro, a fintech firm known for its innovative approach released a tweet after the launch of the product with a clear message:
We believe that trading crypto shouldn’t be harder than retweeting this post. That’s why we invented the CopyTrader and hired this man to demonstrate.
The company has been busy this month and just before the release of the Copy Trader, a working partnership was formed with The TIE, a cryptocurrency information services company to supervise a tradeable cryptocurrency index based on Twitter sentiment.
The TIE maintains a project known has CopyPortfolio, a machine language and learning processing model that analyzes eight hundred million tweets per day to ascertain monthly rebalances predicated on positive expressions.
Alec Baldwin the face of eToro Copy Trading
eToro hired the celebrity spokesman for a specific purpose and Baldwin brought his charm to the fore in a recently posted tweet aimed at promoting the brand.
Alec Baldwin is not the first member of his family to be associated with cryptocurrency. Sometime in 2017, his brother Stephen Baldwin made headlines while discussing cryptocurrencies and the numerous opportunities in the sector. He said,
Bitcoin, Litecoin, Dash digital cash, companies like Ethereum, and a really good company I just connected with called BlockApps – these are the companies that are really trying to educate the consumer the difference between what’s happening in blockchain as a technology and then crypto as an opportunity to invest.
Alongside Alec Baldwin, eToro also sounded out UFC Champion Ben Askren in its copy trading feature debut in the US. On Tuesday, Askren forwarded an eToro sponsored tweet to more than two hundred and fifty thousand active twitter followers with the hashtag #JustHitCopy. He is among the traders that can be copied. Another important personality that can be copied is Nicholas Mertens, a huge youtube crypto influencer.
eToro CopyTrading: Risks and Rewards
The copy trader feature is generating excitement within the investing community because everyone understands how helpful it is. It will help users copy the moves of major players in the industry, and this can amount to serious gains and some losses as well.
eToro offers more than crypto assets and users can diversify by investing in ETFs, stocks, indices, CFDs, and many more. The possibilities are limitless but we only have to see what the future holds for this newly released feature.