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How to buy bitcoin on eToro

Learn how to buy bitcoin (BTC) on eToro in a few easy steps.

Disclaimer: This page is not financial advice or an endorsement of digital assets, providers or services. Digital assets are volatile and risky, and past performance is no guarantee of future results. Potential regulations or policies can affect their availability and services provided. Talk with a financial professional before making a decision. Finder or the author may own cryptocurrency discussed on this page.

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.

Step 1: Open an eToro account

To buy BTC on eToro, you’ll first have to open an account. To do this, follow these steps:

  1. Select the ‘Join Now’ button on the eToro homepage.
  2. Choose a username, enter your email address and create a password. Alternatively, sign in with either your Google or Facebook account if you prefer.
  3. Read and accept eToro’s terms and conditions, privacy policy and cookie policy.
  4. Select the Create an Account button.
  5. Verify your email address by selecting the link eToro emails to you.

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.

Eligibility requirements

  • Be 18 years of age or older
  • Live in a country in which eToro offers services
  • Have a computer or smartphone that can connect to the internet
  • Have a valid phone number
  • Have a valid email address

Required documents

  • Confirmation of residence: A valid utility bill dated within the last three months
  • Proof of Identity: A valid passport or another officially issued photo ID
eToro isn’t available to residents of American Samoa, Guam, Hawaii, Nevada, New York, Puerto Rico or the US Virgin Islands.
eToro

Finder exclusive bonus with eToro

  • Get a guaranteed bonus of $25 when you sign up and deposit $100
  • $0 stock trading fee
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Step 2: Fund the account

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:

  • Debit card. eToro accepts US-issued Visa or Mastercard debit cards. It doesn’t accept credit cards, prepaid cards or gift cards.
  • Bank transfer. Transfer up to $10,000 per day from your bank account.
  • Wire transfer. Wire transfers are currently disabled, as eToro is in the process of switching vendors to facilitate these types of transfers.
  • PayPal. Deposit funds from either your PayPal balance or the bank account linked to your PayPal account.

Step 3: Search for bitcoin (BTC)

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.

Step 4: Decide how much bitcoin you want to buy

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.

Step 5: Download the optional eToro Money crypto wallet

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.

How to transfer your bitcoin to eToro’s Money crypto wallet

Follow these steps to transfer your money from your eToro brokerage account to the eToro Money crypto wallet:

  • Select Portfolio.
  • Choose bitcoin.
  • Select the specific trade you’d like to transfer in the list of your open bitcoin trades.
  • Pick Transfer to Wallet on the Edit Trade screen.
  • Review the transfer details.
  • Select Transfer to eToro Money Wallet to initiate the transfer.

bitcoin transfers can take up to five business days.

How to sell bitcoin on eToro

If your bitcoin investment is up and you’re ready to take some profits, follow these steps:

  • Go to your Portfolio.
  • Select bitcoin and then tap your position or swipe to close your trade. To sell all your positions at once, select Sell all.
  • Select Close Trade, then hit Sell.

eToro fees and limit

eToro charges a flat 1% fee for buying and selling BTC, but the other fees for the platform vary.

Type of fee or limitCost
Buying BTC1%
Selling BTC1%
Deposit fee0% for US dollar deposits
Withdrawal fee0% for US dollar withdrawals
bitcoin transfer fee2% for sending BTC from eToro Money crypto wallet (Blockchain fees may also apply)
bitcoin storage feeN/A

Is it a good idea to buy bitcoin on eToro?

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.

Alternatives to eToro

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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Bottom line

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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