eToro USA cryptocurrency trading review

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eToro USA Cryptocurrency Trading
eToro USA Cryptocurrency Trading
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro. Your capital is at risk.
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  • Great for social trading
  • Not so great for spreads on certain coins

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

Product Name eToro USA Cryptocurrency Trading
Fiat Currencies USD
Cryptocurrencies BTC, ETH, BCH, XRP, DASH, LTC, ETC, ADA, MIOTA, XLM, EOS, NEO, TRX, ZEC, XTZ
Deposit Methods Wire transfer
Online banking
Trading Fee Fees vary
Deposit Fees None. Minimum deposit amount is $50.
Withdrawal Fees None. 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.

What fiat and cryptocurrencies are supported?

  • Supported fiat currencies: USD
  • Supported cryptocurrencies: Approximately 15 cryptocurrencies

Which payment methods are accepted?

  • Online banking
  • Wire transfer
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eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro. Your capital is at risk.

What it’s like to use eToro USA?

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 USA 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.

CryptocurrencySpread
BTC0.75%
ETH1.90%
XRP2.45%
LTC1.90%
BCH1.90%
EOS2.90%
XLM2.45%
ADA2.90%
TRX3.50%
XTZ5.00%
DASH2.90%
MIOTA4.50%
NEO1.90%
ETC1.90%
ZEC3.50%

Deposit and withdrawal fees

Deposit fees

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

Note that your bank may charge transfer fees.

Withdrawal fees

Withdrawal is available through online banking or domestic wire transfer.

eToro USA 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 USA 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 USA 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 USA holds some sort of license in 11 states.
  • Verification process. eToro USA 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 USA?

Go to eToro's website

eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro. Your capital is at risk.
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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
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro. Your capital is at risk.
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Alternatives to eToro USA cryptocurrency trading

Name Product Deposit methods Fiat Currencies Cryptocurrencies
Wire transfer
Online banking
USD

15
cryptocurrencies

Disclaimer: eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro. Your capital is at risk.

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.
Electronic Funds Transfer
Bank transfer (SEPA)
Wire transfer
Ethana Custody
USD, EUR, GBP, JPY, CAD, CHF

33
cryptocurrencies

Buy, sell and trade a range of digital currencies on this high-liquidity exchange – suitable for beginners right through to advanced traders.

UK residents: In addition to normal crypto trading, Kraken offers margin lending. As this is a regulated activity which they are not authorised to offer in the UK, we advise you not to use this service. If you're interested in margin trading, see authorised providers.
Cryptocurrency

6
cryptocurrencies

Disclaimer: Highly volatile investment product. Your capital is at risk.
Trade cryptocurrency derivatives with high liquidity for bitcoin spot and futures, and up to 100% leverage on margin trading.
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eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro. Your capital is at risk.

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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