eToro is a well known trading platform offering investing tools in cryptocurrency. With eToro, you can trade Bitcoin and other crypto easily and securely.
If you want to buy Bitcoin on eToro but you don’t know where to start or if it’s the best place to buy BTC or not, we will tell you everything about it.
This complete guide will teach you everything you need to know about how to buy Bitcoin on eToro
It’s easy to buy Bitcoins with eToro.
With eToro’s CopyTrading feature, beginners can make BTC trades by imitating the trades of experienced traders without taking on too much risk – and that includes Bitcoin!
If you want to practice trading Bitcoin on eToro with no-risk to get started, a paper trading demo account is available on eToro for those who want to practice investing in real market conditions using $100,000 of virtual money. It is a great feature for new and experienced crypto traders alike.
Purchasing Bitcoin and other cryptocurrencies on eToro can be done in just a few clicks. If you need a more detailed guide to the eToro platform, we have an in-depth review here.
Here’s a process
1. Sign up for an account with eToro –
To start trading by eToro, you first need sign up for an account.
The process is very easy and takes less than 3 to 5 minutes Sign up here, enter your name, email address, and contact number, then create a password.
Once you have registered, you will be asked to provide some personal information and upload some documents for verification. Keep your passport or driver’s license and utility bill handy, as you may need to upload scanned copies of those documents.
2. Verify your account With eToro’s KYC –
The next step is to verify your account (AKA “KYC”, which stands for Know Your Customer).
It is a verification process that eToro uses to ensure you are who you say you are (and so do most exchanges).
In the eToro dashboard, click on the “Verify Account” tab to verify your account. You must upload scanned copies of your passport or driver’s license and a utility bill here. Verification usually takes 24 hours.
3. Deposit funds into your account –
Now that your account is verified, you will need to deposit some funds before you can start trading. $10 is the minimum deposit amount on eToro. eToro offers a variety of ways to do this, including credit and debit cards, wire transfers, PayPal. A minimum of $500 is required for bank transfer deposits.
4. Choose Bitcoin from the list of assets
Once you have deposited funds into your account, you are ready to start trading. select the “Markets” page, go to the “Crypto” markets, and select “BTC” from the list of assets. It’s worth noting here that eToro also has 100s of other cryptocurrencies to choose from including some popular coins like Dogecoin, XRP, Shiba Inu, Ethereum.
5. Decide how much Bitcoin you want to buy
The next step in purchasing Bitcoin with eToro is to decide how much you want to buy.
You can do this by specifying the amount of money you want to spend or the amount of Bitcoin you want to purchase. eToro will automatically convert your deposit into the equivalent amount of Bitcoin.
trading, Withdrawing, and Depositing BTC on eToro
Now that you’ve purchased some BTC on eToro… you might be wondering how to sell it, withdrawal it, or deposit it…
How To Sell Bitcoin on eToro
If you want to cash out your Bitcoin when the price is high, you can sell your BTC on eToro with just a few clicks.
eToro allows you to sell Bitcoin the same way you would buy it.
To sell, enter the amount of Bitcoin you want to sell in US dollars on the order form. Click ‘Sell’ at the top of the form and ‘Open Trade’ to complete your sale. For more info, check out our detailed guide to selling on eToro.
How To Withdrawal Bitcoin on eToro
To withdraw your Bitcoin from eToro, you must first convert your BTC to cash and then withdraw the cash to your bank account. Here’s how to do it:
- Go to your portfolio page on eToro and click ‘Convert to cash’ on your BTC position.
- Enter the amount of BTC you want to convert
- Choose whether you want to convert your BTC to USD or EUR.
- Click ‘Convert.’
- Your cash will now be converted and appear in your eToro account balance, ready to withdraw.
How To Deposit Bitcoin To eToro
When you want to receive cryptocurrencies from another wallet into your eToro Money crypto wallet, follow these simple steps:
- Sign in to your eToro Money app on your mobile device and locate eToro BTC.
- Select the ‘Crypto’ tab and tap the cryptocurrency you want to receive.
- Then, tap Receive’ You will be taken to a page displaying your public address this is the address you will share with the person sending the coins. To share, either copy and paste it into a message for the sender or have the sender scan the QR code to input your public address.
Remember, you can always check the validity of public keys online on the relevant blockchain explorer for that particular coin.
Trading Bitcoin On Etoro
Trading Bitcoin on eToro is easy, but there is significant risk when trading any digital token, so make sure to properly manage risk when making the trade.
Here’s how to trade BTC on eToro:
- Log into the eToro web app.
- Navigate to the eToro BTC page in the “Markets” section.
- Click on “Trade” in the top right (if you don’t have an account, you’ll be prompted to sign up).
- Follow the steps to execute your BTC eToro trade.
eToro Bitcoin Fees
eToro fees are reasonable for Bitcoin deposits or withdrawals.
When you buy or sell cryptocurrencies on eToro, only a 1% commission is charged. The 1% of the total transaction value is payable to eToro as a spread. Likewise, 1% of the amount is charged for selling Bitcoin.
No extra fee is charged when you use a credit or debit card to deposit or withdraw. This platform has no deposit fee but the withdrawal fee is $5.
To transfer Bitcoin from your eToro trading account to your eToro Bitcoin wallet, you will be charged a transaction fee of 0.5%. However, this fee is capped at $50.
Bitcoin Purchase Limit at eToro:
We couldn’t find any information on eToro Bitcoin purchase limit, but will update this article if we get new information.
eToro BTC Payment Options
As mentioned earlier, eToro offers many payment options for its users to buy BTC.
These include bank transfers, crypto-to-crypto swaps, credit/debit cards, PayPal, Neteller, and Skrill. Rapid Transfer, Sofort Banking are all accepted payment methods on eToro.