nahkoddaweb.com - eToro is a UK-based multi-asset broker and social trading platform. It has a large selection of crypto products where you can buy and sell the most popular cryptocurrencies such as Bitcoin (BTC), Ethereum, Bitcoin Cash, XRP, and many more.
Once you have cryptocurrency, you can then use the eToro wallet to store your coins safely until you are ready to sell them, spend them, or send them to friends.
Note that all long, unleveraged positions in Bitcoin are traded as real assets. This means when you buy Bitcoins without any leverage (i.e. leverage is set to 1X, or one), you will be buying real Bitcoins and not Bitcoin CFDs. All other positions are CFD, i.e. long leveraged positions and all short positions in Bitcoin.
Below we will walk you through the exact process of how to buy Bitcoins on eToro.
eToro USA LCC does not offer CFDs, only real Crypto assets are available.
Cryptoasset investment is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Can you buy Bitcoins on eToro?
The complete guide to buying Bitcoins on eToro
- Open an account with eToro or log in to the platform if you already have an account.
- Go to the cryptocurrency page ( Find -> Crypto ) and select Bitcoin or use the search bar to search for Bitcoin (BTC). You will see it as the first result, as well as a 'Trade' button next to it.
- If you click on an entire list item, you will be taken to an information page with Bitcoin asset details (see screenshot below). If you click on the 'Trade' button, you will be redirected to the order panel for Bitcoin (see next step). This may be a little confusing, but on the Bitcoin assets page, clicking 'Invest' will take you to the same order panel.
- In the orders panel for Bitcoins, you will have two options at the top right: Trade or Order.
- Tade: buy a certain amount of Bitcoin at the current price.
- Order: set a target BTC price and the number of coins to buy. Your order is executed once the price reaches your target.
For this guide, we chose Trade - Choose how much you want to invest. You can switch between 'Amount' and 'Unit' by clicking the button on the right:
- Amount: set the amount of USD you want to buy Bitcoins. You can write the exact amount, or use the +/- buttons to set the amount. The minimum is $10. If you want to buy less, you will be reminded that this is the minimum amount. You must also have cash in your account - otherwise, you will be asked to deposit the required amount.
- Units: You can choose how many Bitcoins you want to buy. On eToro, you can buy Bitcoins in fractions, so you don't have to buy full Bitcoins to own them. For example, you can buy only 0.1 or even 0.04 Bitcoins. Here also you will be asked to deposit the requested amount. - Once you have selected the amount you want to buy, press the big blue button below it, depending on your order it may say 'Open Trading' or 'Deposit Now'. The system will only accept your order if you already have an approved profile, meaning you have provided eToro with proof of your identity and address.
- If you have no or enough cash in your account, you will be taken to the Deposit panel and asked to fund your account. Choose your deposit method and execute the transaction to deposit the required funds.
- Congratulations, you are now officially buying Bitcoins on eToro!
Choice of deposit method
- PayPal
- Neteller
- Skrill
- Fast Transfers
- ideal
- Klarna / Sofort Banking
Bitcoin trading fees on eToro
- The fee is included in the price displayed by the broker when you open and close a position. Crypto asset prices are usually based on orders executed on crypto exchanges operated by eToro X Limited (eToroX).
- When you open a new position, you will see a "loss" - this is the fee, which is the 1% cost to buy Bitcoin, and the estimated 1% cost to sell it. When closing a position, the selling fee is adjusted to match the current market price of the crypto asset.
- The 1% fee is added to the market price or is called the bid-ask spread. Currently, the Bitcoin spread is 0.75%.
- Finally, keep in mind that eToro will charge an inactivity fee of $10 per month after one year of inactivity. However, you only need to log into your account to avoid having to pay these fees.