How To Buy Bitcoin on eToro in 2023: What Beginners Should Know

The minimum deposit at eToro is just $50, reduced to $10 for US and UK customers. EToro is considered a great option for first-time Bitcoin investors. Not only in terms of the small account minimums but the platform is super user-friendly. Plus, eToro removes the need to learn how to use crypto wallets.

There are some fees that you might need to pay with eToro depending on the transaction or activity. Any Bitcoin trading-related activities done on eToro is not a scam as it is a legit and legal broker. EToro currently operates with a license from various financial regulators which means it has passed their regulatory requirements. Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

How To Buy Bitcoin With Etoro Instantly

Unlike bank accounts, private wallets cannot be frozen, and transactions cannot be reversed. Just remember that the risks of Bitcoin are much higher than other assets. This is why risk-averse investors will only allocate a small percentage of their portfolio to Bitcoin. Nevertheless, Bitcoin has generated huge returns over the prior decade – which we cover in more detail shortly. This covers thousands of stocks from the US, UK, and European markets.

• The platform is integrated with live price charts for all of its instruments including Bitcoin.
• Once installed, log in with your eToro credentials to connect the wallet to your eToro trading account.
• Just like stocks, people buy Bitcoin to make financial gains.
• Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
• Etoro provides financial and copy trading services for customers who want to copy the portfolio of traders who have made large gains in a certain period of time.

For instance, Bitcoin, Ethereum, and BNB have a weighting of 44%, 17%, and 11% respectively. While ApeCoin, Stellar, and Uniswap contribute just 1% each. There are other crypto smart portfolios to choose from across various goals. On top of cryptocurrencies, eToro is also a regulated stock broker. This is a simple and transparent charge of 1% on both buy and sell orders.

How long does it take to buy Bitcoin?

In Europe, eToro operates under the supervision of the Cyprus Securities and Exchange Commission (CySEC) and the Financial Conduct Authority (FCA) in the United Kingdom. These regulatory bodies ensure that eToro adheres to certain financial standards, providing a secure trading environment for its users. EToro was founded in 2007 and has offices in various locations worldwide, including the United Kingdom, United States, Europe and Australia. As a global platform, eToro serves millions of users across multiple countries, offering diverse investment options and social trading features. EToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs. The fully-licensed eToro Wallet allows you to securely store crypto assets and send/receive cryptocurrencies to and from other wallets as long as they are supported by eToro.

• When you buy or sell Bitcoin or other cryptocurrencies, you only pay 1% of your transaction.
• At eToro, you can invest in currency, commodity, index, stock and ETF CFDs on our easy-to-use platform.
• Moreover, the eToro Money crypto wallet enables users to swap tokens instantly without leaving the app.
• Another way to trade BTC which is unique on the eToro’s platform is the CopyTrader feature.
• However, most professional investors recommend diversifying between several types of instruments, in order to properly manage risk levels.
• When you buy Bitcoin on eToro, whether you own the asset itself or are making just a CFD trade depends on the type of transaction you make.

The advice and information provided by ForbesAdvisor is general in nature and is not intended to replace independent financial advice. ForbesAdvisor encourages readers to seek expert advice in relation to their own financial decisions and investments. This article is not an endorsement of any particular cryptocurrency, broker or exchange nor does it constitute a recommendation of cryptocurrency as an investment class.

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Do your homework first, or speak to your financial advisor, to ensure this is the right path for you as SMSFs aren’t suitable for everyone. Copy trading is a portfolio management service, provided by eToro (Europe) Ltd., which is authorised and regulated by the Cyprus Securities and Exchange Commission. Log into your eToro account and search for Bitcoin/BTC and a drop-down menu will automatically appear. If you don’t have an eToro account, you’ll need to open an account to start trading. Receive the latest Bitcoin updates from key financial news sources and trading insight reports from eToro’s Bitcoin market analysis team.

However, if you want to transfer your bitcoin to your eToro Money crypto wallet, it can take up to five business days, or sometimes longer, for the transfer to complete. When buying bitcoin on eToro, you pay a fee of 1% of the quoted purchase price. The price shown when you open a bitcoin position includes the fee. Use eToro’s advanced risk management tools to protect your positions. Enjoy hassle-free deposits and withdrawals, instant execution of trades and a free $100,000 demo account to practice your strategy. Beginners tend to use eToro more than crypto enthusiasts and seasoned crypto investors.

Is eToro a good place to buy crypto?

This is because after buying Bitcoin, the tokens are safeguarded by eToro. Customers simply need to log into their eToro account to view or sell their tokens. That said, this broker also offers an eToro Bitcoin wallet app. This is separate from the main web wallet and comes with additional features. This includes in-wallet token swaps and the ability to transfer Bitcoin externally. A major advantage of choosing eToro is that debit/credit cards and e-wallets can be used fee-free if the payment is made in US dollars.

Cryptoasset investing is highly volatile and unregulated in some EU countries. You can buy Bitcoin directly using a credit card or your PayPal account with no added commissions, or you can deposit How to buy bitcoin on etoro funds using a bank transfer in order to buy Bitcoin. Another convenient option for buying Bitcoin is the fully-licensed eToro Wallet, which allows you to buy directly from a secure digital wallet.

Interested to trade BTC? Get started with eToro.

Its user interface is highly simplified and intuitive, facilitating quick and easy Bitcoin trading. The highly customizable technical charts and in-depth crypto market analysis help smooth the learning curve for beginners. In addition, the built-in social network can help them connect with other Bitcoin investors or traders.

You may lose more than the amount you invested if the available balance on your eToro account becomes negative. This could happen if you have invested all of your capital in open positions and you get charged with overnight fees. This may also happen when you incur losses with your trades. The only fee that comes with buying and selling Bitcoin on eToro is a one-time spread of 0.75 percent. Also, there aren’t any withdrawal or crypto-to-crypto conversion fees if you wanted to convert your Bitcoin into another currency, like Ethereum. Besides being regulated by top-tier financial authorities, the eToro trading or investment platform supports additional security measures like 2FA authentication and DDoS protection.

How Much Money do You Need to Buy Bitcoin?

Always refer to eToro’s official fee page for complete and up-to-date information. Licensed by ASIC in Australia, eToro takes user security seriously with advanced encryption and optional two-factor authentication for an added layer of protection. You can read more about eToro’s licensing in Australia here. Asktraders is a free website that is supported by our advertising partners. As such we may earn a commision when you make a purchase after following a link from our website.

Once you are in possession of your cryptocurrency, you can then use the eToro wallet to securely store your coins until you are ready to sell it, spend it, or send it to a friend. Alternatively, you can click on “Units” and input the exact quantity of Bitcoin you want to buy. However, these parameters are primarily used for eToro Bitcoin trading rather than long-term investing. After entering all requisite parameters, click “Set Order” if you’re placing an order. Otherwise, click “Open Trade” for immediate trade execution. For this, you need a different document from your proof of identity.

On your eToro trading account, find the search bar at the top of the dashboard. Input Bitcoin/BTC, and a drop-down menu will appear automatically; select BTC for Bitcoin and click the “Trade” button in the top right corner to open a new order form. EToro will need to verify your identity in keeping with mandatory Know Your Customer regulations.