Q&A Recap #1
No business is an island- or if it is, it relies entirely on tourism from its customers. In the end, every business, including eToroX, exists for its customers and users; which is why it’s a priority for us to engage with you on social media.
Here are some interesting questions that we received over the last month, the answers to which we think may interest the rest of you.
@ShanaRo28927930 asked us on Twitter:
Q: “What are the long and short term goals for eToroX?”
A: Just as eToro has opened up traditional markets for investors, eToroX wants to do the same in the tokenized world. We want to bring crypto and tokenized assets to a wider audience, allowing them to trade with confidence. This is the future of finance. Blockchain will eventually ‘eat’ traditional financial services through tokenization.
A few weeks ago, we shared an article on Twitter about the central bank of the Philippines warning of the risks of a growing cryptocurrency presence in the market. Together with the article, we noted that:
“It’s true there are risks involved when dealing with cryptocurrencies. We are working very hard to eliminate the risks as much as possible and allow the world to move forward.”
@oryxchain2 responded with an important question, maybe one of the most important questions:
Q: Can you elaborate more, please? What kind of risks are there and how do you eliminate them?
A: There are many risks in the cryptosphere, from money laundering to cyber attacks, market manipulation and regulatory issues. Even as security improves over time, through technological measures and better administrative practices, there remains the financial risk of investing in markets with a reputation for being volatile. On that front, we are active supporters of stablecoins, which are far less volatile than utility tokens and make it much easier to trade in real-world assets. ,
We are also one of only a handful of regulated blockchain enterprises. Our regulatory framework (in Gibraltar) stipulates practices and methods that keep us transparent, and help protect users while being flexible enough to support innovation. The eToro group as a whole is variously covered by six regulated entities. It’s our aim to provide all our users with safety and security, backed up by smart regulation.
These and other questions don’t just help inform individuals, they make us aware of what’s important to you and give us direction.
