Learn how to buy Bitcoin on Etoro, a social trading and investment platform. Our step-by-step guide covers everything from creating an account to depositing funds and making your first Bitcoin purchase. Discover the benefits of using Etoro and how to navigate the platform with ease
eToro: A Step-by-Step Guide for Beginners Looking to Purchase Bitcoin.
You won’t find bitcoin at many regular stock brokerages, despite the fact that it is one of the assets with the greatest growth rate in the world. The good news is that eToro, one of the most prominent online brokers and cryptocurrency exchanges, allows customers to purchase Bitcoin.
In this tutorial, we’ll walk you through the process of purchasing Bitcoin using eToro. We will walk you through the procedure step by step and explain why eToro is the best location to purchase Bitcoin at this time. Continue reading if you want to get started!
How to Buy Bitcoin with eToro – Quick Guide
Do you wish to make a purchase of Bitcoin with eToro right away? You can get going in a matter of minutes by following these easy steps:
- Create an account with the online broker eToro. Go to eToro.com and then click the “Join Now” button.
- Verification. You can verify your eToro trading account by submitting a photo ID and a utility bill showing your current address.
- Deposit. Put in at least the required minimum deposit amount of ten dollars.
- Try looking for Bitcoin. Search for BTC or Bitcoin in the eToro dashboard’s search bar, then click the Trade button.
- Buy. After you have entered the quantity of Bitcoins that you wish to acquire, click the Open Trade button.
How to Buy Bitcoin on eToro – Tutorial
The instructions given above address the fundamentals of how to buy Bitcoin on eToro, which has become the central location for traders searching for the most effective social trading platform for cryptocurrencies. However, we have simplified the process by providing more specific examples so that even someone who has never bought cryptocurrency before can follow along.
Step 1: Sign Up for eToro
To begin investing in Bitcoin with eToro, open a new trading account. Go to the eToro website and click Join Now.
Enter your email address, then select a username and password. On the following screen, you must provide personal information such as your name, zip code, birthdate, and phone number. Finally, eToro requires you to authenticate your identification in order to comply with Know Your Customer rules. You must upload a photo of your driver’s license or passport to the site.
Step 2: Verification
Account verification with the eToro crypto app is simple. Simply submit proof of identity (a passport or other government-issued identification) and proof of address (a recent utility bill or bank statement). Your documents will then be processed by the eToro verification team, which normally takes 24 hours.
Step 3: Deposit
When you register a new account with eToro, you must make a minimum deposit of $10. You can pay with a Visa or Mastercard credit or debit card, PayPal, Neteller, or Skrill. If you deposit at least $500, you can also pay by bank transfer.
Step 4: Set Up a Crypto Wallet
When you buy Bitcoin with eToro, you can keep your coins in your eToro account. You are not required to have a crypto wallet, unlike at other exchanges.
Crypto wallets, on the other hand, are extremely safe and allow you to use your Bitcoin for a wide range of purposes. eToro has its own cryptocurrency wallet, eToro Money, which is available for free download for iOS and Android smartphones. To connect your eToro Bitcoin wallet to your account, simply install the app on your smartphone and log in with your eToro username and password.
Step 5: Search for Bitcoin
Return to eToro and look for the search box at the top of the dashboard. Enter Bitcoin or BTC, then click Trade when a new order form appears.
Step 6: Buy Bitcoin
Did you know that you can buy Bitcoin with a bank account using an eToro trading account? Enter the amount of Bitcoin you want to buy in USD. You can also enter a take profit or stop loss level, though these are more commonly used for eToro Bitcoin trading than long-term Bitcoin investment. When you’re ready, click the Open Trade button to begin buying Bitcoin using eToro.
eToro accepts a variety of payment ways and allows you to buy Bitcoin with a credit card with no deposit fees. If you’re interested in purchasing Bitcoin, you should read our post on the best Bitcoin ETFs for 2022.
Read Also – How to Screenshot
How to Sell Bitcoin on eToro
The procedure of selling Bitcoin on eToro is essentially identical to that of buying Bitcoin. The only difference is that when the order form appears, you must click the Sell button at the top of the form. Then, in US dollars, enter the quantity of Bitcoin you want to sell and click Open Trade to finalize the transaction. Because eToro accepts so many payment methods, you may effectively buy Bitcoin with PayPal right from your mobile device.
How Much Does it Cost to Buy Bitcoin on eToro?
When it comes to buying Bitcoin, eToro boasts some of the lowest costs of any major crypto exchange. When you buy Bitcoin or any other cryptocurrency on eToro, you will be charged a fee of 1% of the total transaction amount. When you sell Bitcoin, you will also be charged a 1% fee.
Unlike many other cryptocurrency exchanges, eToro does not charge additional fees for using a credit or debit card. This platform, in fact, has no deposit fees. When you send Bitcoin from your eToro account to your eToro Bitcoin wallet, you’ll incur a 0.5% transaction fee (limited at $50).
eToro Bitcoin Review
Is eToro truly the best site to get Bitcoin? This dialogue stands out in a crowded field for a number of reasons.
For starters, eToro offers far more than just Bitcoin. Over 50 prominent cryptocurrencies, including Ethereum, Bitcoin Cash, Ripple, Litecoin, and others, are available for purchase and sale. eToro makes it simple to exchange Bitcoin for any of these other coins, providing you access to the larger world of cryptocurrency.
Another advantage of eToro is its low cost. eToro does not impose deposit fees, and there are no additional fees when purchasing Bitcoin with a credit or debit card. When you purchase and sell Bitcoin, you will be charged a flat fee of 1% of the total transaction amount.
While eToro is user-friendly for beginners, it also features some strong trading tools. Experts will provide you with customised technical charts and in-depth analysis of the crypto market. Furthermore, eToro has a social network where you can connect with other Bitcoin investors and learn what they think about where this cryptocurrency is headed next.
The copy trading capabilities on eToro are maybe its most distinctive feature. You can set aside a piece of your account to mirror the moves of another trader, even Bitcoin traders, with copy trading. If you want to get started with eToro Bitcoin trading but don’t know where to begin, copy trading simplifies the process.
Another critical question that many traders have regarding this social trading platform is whether it is safe. eToro is one of the safest solutions available, as it is regulated by multiple top-tier financial regulators and also offers various security features such as 2FA and DDoS protection.
eToro is a great contender for the title of best place to buy Bitcoin because of all of these characteristics. If you liked this eToro review, you should check out our eToro vs Robinhood comparison to see how this premier copy trading site stacks up against another popular broker.
- Trade Bitcoin and nearly 50 top cryptos
- Fixed 1% fee for buy and sell orders
- In-depth analysis and research
- Supports copy trading
- Includes free mobile crypto wallet
- Fee for transferring crypto to a wallet
- Doesn’t support decentralized finance apps
How to Buy Bitcoin with eToro – Conclusion
Whether you’re new to cryptocurrencies or a seasoned trader, eToro makes it simple to purchase Bitcoin. The site demands only a $10 deposit to get started and charges only a 1% transaction fee when you buy Bitcoin. Furthermore, eToro offers its own crypto wallet where you may store your Bitcoin.
It’s time to get started now that you know how to buy Bitcoin on eToro. Create an eToro account today by clicking the link below!
People also ask
What is Etoro and how does it work?
Etoro is a social trading and investment platform that allows users to buy and sell cryptocurrencies, such as Bitcoin, as well as other assets like stocks and commodities.
How do I create an account on Etoro?
To create an account on Etoro, go to the Etoro website and click on “Join Now.” Fill out the registration form with your personal information and create a username and password.
How do I verify my Etoro account?
To verify your Etoro account, you will need to upload a copy of your government-issued ID and a selfie of yourself holding the ID. This is a standard process for most cryptocurrency exchanges and is used to comply with anti-money laundering regulations.
How do I deposit funds into my Etoro account?
To deposit funds into your Etoro account, go to the “Deposit Funds” section of the platform and choose your preferred method of payment, such as a credit card or bank transfer.
Can I use PayPal to deposit funds into my Etoro account?
Yes, you can use PayPal to deposit funds into your Etoro account.
How do I buy Bitcoin on Etoro?
To buy Bitcoin on Etoro, go to the “Trade Markets” section of the platform and search for “Bitcoin.” Click on the “Trade” button to open the order form, then enter the amount of Bitcoin you wish to buy and click “Open Trade.”
What is the minimum amount of Bitcoin I can buy on Etoro?
The minimum amount of Bitcoin you can buy on Etoro is $25.
What are the fees for buying Bitcoin on Etoro?
The fees for buying Bitcoin on Etoro are included in the spread, which is the difference between the buy and sell price. The spread will vary depending on market conditions.
Can I use a credit card to buy Bitcoin on Etoro?
Yes, you can use a credit card to buy Bitcoin on Etoro.
Can I use a bank transfer to buy Bitcoin on Etoro?
Yes, you can use a bank transfer to buy Bitcoin on Etoro.
How do I sell Bitcoin on Etoro?
To sell Bitcoin on Etoro, go to the “Trade Markets” section of the platform and search for “Bitcoin.” Click on the “Trade” button to open the order form, then enter the amount of Bitcoin you wish to sell and click “Open Trade.”
What is the minimum amount of Bitcoin I can sell on Etoro?
The minimum amount of Bitcoin you can sell on Etoro is $25.
How do I withdraw my Bitcoin from Etoro?
To withdraw your Bitcoin from Etoro, go to the “Withdraw Funds” section of the platform and enter the amount of Bitcoin you wish to withdraw. You will need to provide your Bitcoin wallet address in order to complete the withdrawal.
What are the withdrawal fees for Bitcoin on Etoro?
The withdrawal fee for Bitcoin on Etoro is 0.0005 BTC.
Can I withdraw my Bitcoin to a different exchange or wallet?
Yes, you can withdraw your Bitcoin to a different exchange or wallet.
How long does it take to receive my withdrawn Bitcoin?
The time it takes to receive your withdrawn Bitcoin depends on the blockchain confirmation time, which can vary. However, withdrawals are typically processed within 24 hours.
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