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eToro USA cryptocurrency trading – 2019 review

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Trade 15 popular cryptocurrencies on eToro and connect with the trading community.

  • Great for social trading
  • Not so great for spreads on certain coins

Check out our full list of pros and cons or read on.

14

Fiat currencies

15

Cryptocurrencies

Details

Product Name eToro USA Cryptocurrency Trading
Fiat Currencies EUR, GBP, NZD, USD, AUD, CAD, CHF, NOK, ZAR, JPY, SEK, TRY, HUF, PLN
Cryptocurrencies BTC, ETH, BCH, XRP, DASH, LTC, ETC, ADA, MIOTA, XLM, EOS, NEO, TRX, ZEC, XTZ
Deposit Methods Credit card
Debit card
PayPal
Wire transfer
Local Online Banking
Trading Fee Fees vary
Deposit Fees None
Withdrawal Fees eToro charges a minimum $25 fee for withdrawals and the minimum withdrawal amount is $50.
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Learn more about eToro

What fiat and cryptocurrencies are supported?

  • Supported fiat currencies: EUR, GBP, NZD, USD, AUD, CAD, CHF, NOK, ZAR, JPY, SEK, TRY, HUF, PLN
  • Supported cryptocurrencies: Approximately 15 cryptocurrencies

Which payment methods are accepted?

  • Online banking
  • Wire transfer
Go to eToro's website

What it’s like to use eToro?

eToro USA vs. the global eToro exchange

If you visit the eToro site in the US, you’ll automatically go to the eToro USA site, which is the site we’re reviewing here. It has fewer features than the company’s global platform, but it abides by US laws and is accessible to US residents.

If you’re not a US resident and you’re looking for information on how eToro works in other countries, read our review of eToro’s global exchange.

Fees and limits

The fees below are accurate as of 30 September 2019.

Platform trading fees

The trading fees on eToro take the form of a spread. The spread is the difference between the buy and sell price. So when you buy or sell, you are doing it slightly above or below the mid-market price, but without other fees.

Cryptocurrency Spread
BTC 0.75%
ETH 1.90%
XRP 2.45%
LTC 1.90%
BCH 1.90%
EOS 2.90%
XLM 2.45%
ADA 2.90%
TRX 3.50%
XTZ 5.00%
DASH 2.90%
MIOTA 4.50%
NEO 1.90%
ETC 1.90%
ZEC 3.50%

Deposit and withdrawal fees

Deposit fees

The minimum deposit amount is $50, and deposits can be made with bank transfer or wire transfer only.

Note that your bank may charge transfer fees.

Withdrawal fees

Withdrawal is available through domestic wire transfer.

eToro does not charge any withdrawal fees, but your bank may charge a fee for receiving the money.

How fast will my funds be available?

Deposits

Clock icon for transfer speed

24 hours

Deposits will often be completed within 24 hours, depending on factors such as which bank you use and whether it’s a business day.

Withdrawals

Clock icon for transfer speed

Up to 7 days

Withdrawals are processed by eToro in one day, and then it takes 3 days for the bank to transfer it. Wire transfer withdrawals may take up to 7 days in total.

Is eToro safe to use?

  • Regulation. eToro is a prominent, well-known business beyond cryptocurrency. It is registered with the SEC and operates in line with AML/KYC obligations such as the PATRIOT Act. As of September 2019, eToro holds some sort of license in 11 states.
  • Verification process. eToro requires user verification through proof of identity, such as a valid US passport, driver’s license or state ID.
  • Security features. eToro practices cryptocurrency industry best security practices. There are no known cases of eToro ever being hacked and user cryptocurrency being stolen.

How do I create an account at eToro?

Go to eToro's website
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What else do I need to know about eToro?

eToro is a UK-based company that’s expanding globally. It’s best known for coining the “copy trade” feature where users can copy other people’s trades.

eToro has been involved in Bitcoin and other cryptocurrencies since early days, and has taken an active role in the development of the technology.


In a nutshell

Pros

  • Simple trading. eToro offers a smooth and intuitive interface.
  • Easy deposits and withdrawals. Linked bank accounts make USD deposits and withdrawals easy.
  • Social trading. eToro is designed to let people discuss trading strategies, browse other user’s portfolios and copy people’s trades.

Cons

  • Some high spreads. Certain cryptocurrencies have very high spreads.
  • No crypto deposits. You cannot deposit cryptocurrency.
Go to eToro's website
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Alternatives to eToro cryptocurrency trading

Name Product Deposit methods Fiat Currencies Supported Cryptocurrencies
Cash
Credit card
Debit card
Bank transfer (SEPA)
USD, EUR
BTC, ETH, ETC, BCH, LTC, ADA, QTUM, XRP
Buy coins like Bitcoin, Ethereum, Ripple, Litecoin and Bitcoin Cash with credit card.
Credit card
Debit card
PayPal
Wire transfer
Local Online Banking
EUR, GBP, NZD, USD, AUD, CAD, CHF, NOK, ZAR, JPY, SEK, TRY, HUF, PLN
BTC, ETH, BCH, XRP, DASH, LTC, ETC, ADA, MIOTA, XLM, EOS, NEO, TRX, ZEC, XTZ
Disclaimer: Highly volatile investment product. Your capital is at risk. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. US users have limited access to some of eToro’s features.

Copy the trades of leading cryptocurrency investors on this unique social investment platform. Non-US residents can read our review of eToro's global site here.
Bank transfer (ACH)
Bank transfer
Cryptocurrency
Debit card
Wire transfer
USD
BTC, ETH, XRP, BCH, LTC, USDT, BNB, ADA, ZRX, LINK & 10+ more
Get a US$15 bonus when you trade US$100 or more of any supported crypto. T&Cs apply.
Trade with USD on Binance.US, the American dollar onramp of the world’s largest cryptocurrency exchange. Non-US residents can read our review of Binance's main exchange here.

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Frequently asked questions

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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