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With bitcoin (BTC) on its way to becoming a mainstream asset, you may have recently concluded that it’s time to add some to your portfolio.
Buying BTC can be an intimidating process on certain platforms, but eToro simplifies the experience for you.
The brokerage’s uncluttered and intuitive user interface helps you gain exposure to BTC in just a few clicks.
To buy BTC on eToro, you’ll first have to open an account. To do this, follow these steps:
To get verified for your account, you’ll need to meet certain eligibility requirements and share images of certain key documents, such as a passport or driver’s license.
To begin investing on eToro, you need to make a $10 minimum deposit. You can deposit funds instantly, the exception being wire transfer, via the following methods:
eToro doesn’t have an instant buy feature — which lets you automatically buy BTC at the market rate — as some other crypto exchanges or brokerages do.
To buy BTC on eToro’s app, select the “Discover” tab and BTC is the first option. Select BTC and then hit the “Trade” button to complete the trade.
To buy it on the web browser version of the platform, you’ll have to type either “bitcoin” or “BTC” into the search bar on the home screen after you’ve signed into your eToro account.
Once you do this, a drop-down menu appears with “BTC” at the top.
Click the Trade button to proceed.
You can purchase a partial bitcoin instead of having to buy a full bitcoin. You could think of buying part of a bitcoin like buying a fractional share of a stock.
eToro will ask you for the dollar amount for your bitcoin purchase. There is a $10 minimum purchase amount.
Input the amount and then select whether you’d like to make a “market order” or a “limit order.” A market order is an order to buy bitcoin at the current market rate. A limit order is an order to buy bitcoin when its price hits a certain level. When and if bitcoin hits that level, eToro will automatically purchase the bitcoin for you.
If you’re looking to move your BTC out of eToro’s custody and into your own via a non-custodial wallet, you’ll first have to download the eToro Money app, which is available for both Android and iOS.
Follow these steps to transfer your money from your eToro brokerage account to the eToro Money crypto wallet:
bitcoin transfers can take up to five business days.
If your bitcoin investment is up and you’re ready to take some profits, follow these steps:
eToro charges a flat 1% fee for buying and selling BTC, but the other fees for the platform vary.
| Type of fee or limit | Cost |
|---|---|
| Buying BTC | 1% |
| Selling BTC | 1% |
| Deposit fee | 0% for US dollar deposits |
| Withdrawal fee | 0% for US dollar withdrawals |
| bitcoin transfer fee | 2% for sending BTC from eToro Money crypto wallet (Blockchain fees may also apply) |
| bitcoin storage fee | N/A |
Yes, it’s a good idea to buy BTC on eToro, because the platform has a long track record of providing quality service to users. It’s also never been hacked.
Beginner and intermediate investors will benefit most from buying BTC on eToro because the website and app interfaces are intuitive and easy to use.
Also, eToro is a good option for users who don’t feel comfortable holding the private keys to their BTC. eToro has proven to be a trustworthy crypto custodian in the almost seven years it’s supported crypto assets.
If eToro doesn’t seem like the right platform for you or if you’re a resident of a US state or territory that eToro doesn’t serve, don’t fret. Many crypto exchanges are available for you to choose from.
Robinhood. Similar to eToro in that you can purchase both traditional assets and crypto all in one place, Robinhood is another user-friendly platform to buy bitcoin.
Kraken. Like eToro, Kraken has a long track record of providing bitcoin investors a safe place to buy, sell and trade their BTC.
Webull. If you plan to actively trade BTC, Webull might be a good option. It offers advanced trading features and market data that can help you better time when to buy and sell your BTC.
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If you’ve decided it’s time to get off the sidelines and buy bitcoin, eToro is a great place to start.
The brokerage makes buying bitcoin easy, and with its new eToro Money crypto wallet app, you can move your BTC from eToro’s custody into your non-custodial crypto wallet when you’re ready.
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