How To Buy Bitcoin On eToro
It is easy to buy Bitcoins with eToro
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
eToro gives you $100,000 virtual money
It is great feature for new and beginners crypto traders
Purchasing Bitcoin and other cryptocurrencies on eToro can be done in just a few clicks.
Here’s a step-by-step guide:
It’s easy to buy Bitcoin 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 step-by-step guide:
Step 1. Sign up for an account with eToro
To start trading on eToro, you first need to sign up for an account.
The process is simple and takes less than five minutes: Sign up here, enter your name, email address, and contact number, and then create a password.
Once you have registered, you will be asked to provide some personal information and upload some documents for verification purposes. Keep your passport or driver’s license and utility bill handy, as you may need to upload scanned copies of these documents.
Step 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.
Step 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, and Neteller. A minimum of $500 is required for bank transfer deposits.
Step 4. Choose Bitcoin from the list of assets
Once you have deposited funds into your account, you are ready to start trading. Go to the “Markets” page, select the “Crypto” markets, and select “BTC” from the list of assets.
You can view the BTC markets page here.
It’s worth noting here that eToro also has 100s of other cryptocurrencies
Step 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.
Selling, Withdrawing, and Depositing BTC on eToro.com
Now that you’ve purchased some BTC on eToro… you might be wondering how to sell it, withdraw 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.
How to Withdraw 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 fees, 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.
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, iDeal, and Sofort Banking are all accepted payment methods on eToro.
eToro Bitcoin Wallet
eToro allows users to store their Bitcoin in two ways: 1) directly in their eToro trading account, or 2) in the dedicated eToro mobile app wallet.
Crypto wallets are highly secure and can be used for various applications. However, eToro has its cryptocurrency wallet, called “eToro Money App,” which is just as secure. It can be downloaded for free on iOS and Android devices. Log in to your eToro account on the app and connect your eToro account to the eToro wallet app.
What is Bitcoin?
Bitcoin is a digital or virtual currency that uses peer-to-peer technology to facilitate instant payments. It is different from other traditional currencies because it is not regulated by any central authority, such as a bank or government.
Crypto assets, including Bitcoin, are complex financial instruments with a high risk of losing money. Crypto assets are highly volatile and can fluctuate widely in price. Retail investor accounts lose money when trading crypto assets. Therefore, crypto assets are not suitable for all investors. Numerous retail CFD accounts
FAQs
How to buy Bitcoin with PayPal on eToro?
Conclusion – Should You Be Buying Bitcoin on eToro?
eToro is an excellent platform for those looking to invest in Bitcoin.
eToro makes the process simple, and the fees are relatively low. You also get multiple ways to buy and sell Bitcoin:
With eToro’s CopyTrader, you can find a BTC trader you want to copy, and automatically follow their trades in real-time (a perk for beginners!)
With swaps, you can swap one crypto for another, including Bitcoin
With eToro’s trading platform, you can use advanced trading tools to buy and sell BTC directly from eToro’s markets
The crypto wallet is also a great perk for those looking to store their Bitcoin directly on the platform. However, the risks involved in trading Bitcoin should not be overlooked, and investors should always do their research before investing.
Overall, buying Bitcoin on eToro is worth it and a great way to get started for beginner investors.
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