How to Buy Bitcoin on eToro: Explained in Easy Steps 2024

Wajeeh Khan is a financial researcher and writer with 7 years of experience. He has immense exposure to a range of financial assets, including stock, cryptocurrencies and forex – and is particularly well-versed in asset valuation, analysis, and portfolio management. Since 2016, Khan has worked with notable online platforms within financial how to withdraw dollars from cryptopia journalism, including Invezz, Trading-Education, Dog of Wall Street, and News Break. All in all, he has written, editted, and published over 7,000 articles, guides, and market insight. But in only two years, it had already become another niche that he started actively researching. Over the past three years, he has written a diversified set of content around gambling for clients from all over the world.

Pros & Cons of eToro Bitcoin Exchange

This leads to risks of censorship, asset seizure, account closure, and single point of failure risk. Once you’ve purchased Bitcoin on eToro, it’s a good idea to monitor and manage your investment. EToro offers a variety of search and filter options to help users refine their search for specific assets. By utilizing the search bar and filters, users can easily locate their desired assets and filter their search by exchange, industry, and profile. To open a trade, simply locate the instrument you wish to invest in on eToro’s home page, search bar, watchlist, or an existing position in your portfolio. Click on the instrument and then the ‘Trade’ button to initiate the process.

And, eToro is the simplest and easy-to-use crypto exchange platform to buy Bitcoin. It is not only a beginner-friendly platform but also provides the industry-best security features to keep users’ funds safe. Yes, it is. eToro is a popular and intuitive platform that facilitates the buying and selling of numerous types of crypto assets. It also has various attractive features, including social trading, demo accounts, 24/7 trading, etc., that will make your investment worthwhile.

1. The crypto Bitcoin buying process on eToro is quick and straightforward.
2. Before embarking on such an adventurous journey, it is necessary to do your research on which crypto you wish to invest in.
3. If you deposit funds in the US dollar currency, there will be no fees.
4. EToro makes it easy to dive into the world of cryptocurrency, even if you’re new to the game.

From here, users can choose between “Trade” and “Order.” Users selecting the “Trade” option can purchase Bitcoin at the current market price. Those opting for the “Order” option can place predefined purchase orders that will be automatically executed when Bitcoin reaches the specified target value. Trading involves purchasing bitcoin at the current market price, while ordering allows users to set a predetermined level for automatic buying. Go to the eToro website and select the “Sign Up” or “Get Started” option, then select a username, provide your email address and password. To buy Bitcoin on eToro app, users must verify their identity by adding additional information, such as date of birth, phone number and country of residence.

EToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs. To send Bitcoin, first, access the eToro Money app on your mobile device and log in. Next, tap the “Crypto” icon at the bottom of the screen and select Bitcoin. Finally, tap “Send” and enter the recipient’s wallet address and the desired amount. Once you’ve accessed the app, you can view your crypto wallets and manage your Bitcoin investment with ease. First, locate the Bitcoin asset on the platform by using the search bar or navigating through the available cryptocurrencies.

Their funds are held in secured tier 1 banks and personal information is protected under SSL encryption. Staying informed about market developments and analyzing the market is crucial when trading Bitcoin on eToro. Utilizing eToro’s charting tools, technical indicators, and market news can help you make more informed trading decisions and better understand market trends. By engaging in copy trading, you can learn from the expertise of seasoned traders, and potentially improve your own trading strategies. We cover more trading tips and tricks in our Trading on Binance Beginner’s Guide that are relevant to any trading platform. With these flexible funding options, you’ll be ready to start trading Bitcoin on eToro in no time.

Step 2: Depositing Funds into Your eToro Account

Not charging any hidden fees, eToro promises to bring satisfactory user experience to investors. Be sure to research before investing thoroughly, follow other cryptocurrency communities, and whenever you need help, find our guides and tutorials for a well-researched decision. It doesn’t matter how well-researched your financial plan is, as the crypto market is already volatile; having different options to boost or sustain your investment is the key to success.

With its intuitive interface and robust features, eToro has gained significant popularity among cryptocurrency enthusiasts. It allows users to invest in Bitcoin without the need for complex technical knowledge or setting up personal wallets. An important aspect of trading Bitcoin on eToro is understanding how to store and transfer your digital assets securely. EToro offers a dedicated wallet feature, known as the eToro wallet, to help users manage their Bitcoin investments. Once your application has been approved, you’ll be able to deposit funds and commence trading on eToro. Funding your account is hassle-free, as eToro accepts a variety of payment methods, including bank transfers, crypto transfers, and e-wallets.

Step 4 – Place an Order to Buy Bitcoin on eToro

Use the login credentials used to create your eToro trading account to log in. Link the wallet with your trader account and choose to move funds from the trader account to the eToro mobile crypto wallet app. Users can also copy the investment strategies of successful investors worldwide through a feature called “copytrading”. Regarding the dashboard, it keeps users stay updated with the latest information  in the market via access to tools like real-time price charts, trends, and social trading feeds. My personal favourite thing about eToro, besides how easy it is to use, is the power of being able to trade multiple assets all from one place. EToro utilizes a combination of offline and online storage for coins, two-factor authentication, and state-of-the-art monitoring tools to safeguard your crypto assets.

Only invest what you are willing to lose, as the crypto space is already volatile, and here we’re referring to fiat money, crypto exchanges, loans, and many other financial investments. At any point, a negative outcome could appear; even though you thoroughly research the coin, there is always a risk to crypto trading. When you buy Bitcoin with eToro, you can securely store your coins in your eToro account or adhere to the eToro crypto wallet. Even though, unlike other trading platforms, you are not required to have a crypto wallet, we highly recommend one. Navigating eToro’s crypto trading platform is very user-friendly thanks to its intuitive design and well-laid-out interface.

Besides, a wide range of options for currency to invest is also various. On the platform, navigate to the “Deposit Funds” option on the left-hand side of the screen. Choose the fiat currency you wish to deposit, enter your payment information, and click “Deposit”.

When the market price of Bitcoin reaches your limit order price, then your transaction will be executed. At the time of writing, you can buy Bitcoin and more than 70 of the most popular altcoins and tokens on the eToro global trading platform. Yes, you can buy Bitcoin and 30+ of the best altcoins that are currently supported on the eToro US trading platform. A large number of users could also have been drawn into the platform by its commitment to the security of client funds.

Once you’ve registered, you’ll need to go through the identity verification process and set up the necessary security features to protect your account and digital assets. As a highly reliable platform, eToro boasts fantastic reviews and ratings from happy users across multiple review sites. They offer some unique features such as their widely popular social trading (CopyTrader) platform and Smart Portfolios.

EToro requires this information to comply with regulatory requirements and ensure a secure trading environment. Look for the “Join Now” or “Sign Up” button on the eToro homepage and click on it. Please disable your adblocker to enjoy the optimal web experience and access the quality content you appreciate from GOBankingRates. Your request will be executed as soon as possible, and the fiat money equivalent to your bitcoin value will be added to your eToro account. There are several perks you can enjoy when you use eToro to buy Bitcoin. EToro has a user-friendly interface, which any technology-savvy person can navigate hassle-free.