How to buy Bitcoin on eToro

News Lekhak August 07, 2023 0

If you're interested in buying Bitcoin, eToro offers a user-friendly platform that simplifies the process. To start, create an account on their website by providing the necessary information and completing the verification process. Once you're logged in and have funded your eToro account using your preferred deposit method, you can search for Bitcoin on the platform. Clicking on the "Trade" button next to Bitcoin will open the order window, where you can choose your desired position size. 

Whether you prefer a "Market Order" for an immediate purchase at the current market price or a "Limit Order" to set a specific purchase price, eToro offers both options. After reviewing and confirming your order details, you'll become a proud owner of Bitcoin and can monitor your investment through the eToro platform.

For those looking to participate in the exciting world of cryptocurrencies, eToro's streamlined process makes buying Bitcoin hassle-free. New users can easily sign up, complete the verification, and deposit funds to get started. The platform's intuitive interface allows users to search for Bitcoin and choose from various order types.

Whether you prefer to make a quick market order or set a specific price with a limit order, eToro caters to different trading strategies. As with any investment, it's essential to be mindful of the market's volatility, but eToro provides a secure and convenient environment to purchase, hold, and monitor your Bitcoin investment, making it an excellent choice for both beginners and experienced crypto enthusiasts.

What is eToro

eToro is a multi-asset investment platform that was founded in 2007. It allows users to buy, sell, and trade stocks, commodities, currencies, and cryptocurrencies. eToro is one of the most popular social trading platforms in the world, with over 20 million registered users.

History of eToro

eToro was founded in 2007 by Yoni Assia, Ronen Assia, and David Ring. The company was originally called RetailFX, but it was rebranded as eToro in 2010. 

eToro, a social trading and multi-asset brokerage company, was founded in 2007 by brothers Yoni Assia, Ronen Assia, and David Ring in Tel Aviv, Israel. The company's primary goal was to democratize trading and make financial markets more accessible to individual investors, even those with limited experience and knowledge.

Initially, eToro began as a traditional online forex trading platform, allowing users to trade currencies, commodities, and indices. However, it quickly distinguished itself from other brokers by introducing social trading features, enabling users to interact, follow, and copy the trades of successful investors in real-time. This innovation revolutionized the trading industry, making it easier for beginners to learn from experienced traders and participate actively in the markets.

Over the years, eToro expanded its offerings to include a wide range of financial instruments, such as stocks, cryptocurrencies, exchange-traded funds (ETFs), and more. The platform's user-friendly interface and social trading capabilities attracted a vast and diverse user base, propelling eToro to become one of the world's leading social trading platforms.

As eToro continued to grow, it obtained regulatory licenses from various financial authorities, ensuring compliance with international financial standards and safeguarding its users' funds. The company's success and widespread adoption led to its global expansion, with offices established in different countries, including the United Kingdom, Cyprus, Australia, and the United States.

In recent years, eToro made headlines by becoming one of the pioneering platforms to offer cryptocurrency trading services. It allowed users to buy, sell, and hold various cryptocurrencies, including Bitcoin, Ethereum, and more. This move further solidified eToro's position as a prominent player in the cryptocurrency market.

eToro's journey has been marked by continuous innovation and a commitment to empowering individual investors. Its combination of social trading, diverse financial instruments, and user-friendly interface has attracted millions of users worldwide, making it a significant force in the online trading and investment landscape. As of my knowledge cutoff in September 2021, eToro has been a transformative platform that has played a crucial role in shaping the modern fintech industry.

Features of eToro

eToro offers a variety of features that make it a popular choice for investors. These features include:

• Copy trading: This feature allows users to copy the trades of other successful traders.

• Social trading: This feature allows users to connect with other investors and share trading ideas.

• Fractional shares: This feature allows users to buy shares of companies even if they cannot afford to buy a whole share.

• Zero commission: eToro does not charge commission on stocks, commodities, and cryptocurrencies.

• CFDs: eToro also offers CFDs, which are a type of derivative that allows users to trade on the price of an asset without actually owning the asset. 

eToro is a regulated platform and is authorized by the Financial Conduct Authority (FCA) in the UK and the Cyprus Securities and Exchange Commission (CySEC). However, it is important to note that eToro is not available in all countries.

Pros and Cons of eToro

Here are some of the pros and cons of eToro:

Pros:

1. eToro is a popular and well-established platform.
2. eToro offers a variety of features that make it easy to trade.
3. eToro is regulated by reputable financial authorities.
4. eToro does not charge commission on stocks, commodities, and cryptocurrencies.

Cons:

1. eToro may not be the best option for beginners, as it can be a bit complex to use.
2. eToro has been hacked in the past, so it is important to use a strong password and two-factor authentication when you create an account.
3. eToro charges fees for some features, such as copy trading and social trading. 

Overall, eToro is a good option for investors who are looking for a platform with a variety of features and a low fee structure. However, it is important to do your research before you invest on any platform.

How to buy Bitcoin on eToro

Here are the steps on how to buy Bitcoin on eToro:

• Go to the eToro website and create an account.
• Verify your account by providing your email address, phone number, and date of birth.
• Deposit funds into your eToro account using a bank transfer, credit card, or debit card.
• Search for "Bitcoin" in the eToro search bar.
• Click on the "Trade" button next to Bitcoin.
• Enter the amount of Bitcoin you want to buy.
• Click on the "Open Trade" button. 

Important things keep in mind when buying Bitcoin on eToro:

Your Bitcoin will be bought at the current market price and deposited into your eToro account.
Here are some things to keep in mind when buying Bitcoin on eToro:

• eToro charges a fee for buying and selling Bitcoin. The fees vary depending on the amount of Bitcoin you are buying or selling.
• eToro is a regulated exchange, so you will need to provide your personal information when you create an account.
• eToro is a popular exchange, so the liquidity is good. This means that you can buy and sell Bitcoin quickly and easily.
• eToro is a secure exchange that uses two-factor authentication and cold storage for its Bitcoin reserves.

Pros and Cons of buying Bitcoin on eToro:

Here are some of the pros and cons of buying Bitcoin on eToro:

Pros:

1. eToro is a well-established and reputable exchange.
2. eToro has a good liquidity, so you can buy and sell Bitcoin quickly and easily.
3. eToro charges a relatively low fee for buying and selling Bitcoin.
4. eToro is a secure exchange that uses two-factor authentication and cold storage for its Bitcoin reserves.
5. eToro offers a variety of features that make it easy to buy and sell Bitcoin, such as a stop-loss order and a take-profit order.

Cons:

1. eToro is not available in all countries.
2. eToro may not be the best option for beginners, as it can be a bit complex to use.
3. eToro has been hacked in the past, so it is important to use a strong password and two-factor authentication when you create an account.  

Overall, eToro is a good option for buying Bitcoin. It is a reputable exchange with a good liquidity and a relatively low fee. However, it is important to do your research before you buy Bitcoin on any exchange.

How to buy Bitcoin on eToro with PayPal

You can buy Bitcoin on eToro with PayPal in a few simple steps:

• Go to the eToro website and create an account.
• Verify your account by providing your email address, phone number, and date of birth.
• Click on the "Deposit Funds" button and select PayPal as your payment method.
• Enter the amount of money you want to deposit and click on the "Deposit" button.
• Once your funds have cleared, you can buy Bitcoin by searching for it in the eToro search bar.
• Click on the "Trade" button next to Bitcoin and enter the amount of Bitcoin you want to buy.
• Click on the "Open Trade" button and your Bitcoin will be bought at the current market price. 

Please note that PayPal is not available as a payment method for all users. You can check if PayPal is available in your country by going to the eToro website and clicking on the "Help" button.

Keep in mind when buying Bitcoin on eToro with PayPal:

Here are some things to keep in mind when buying Bitcoin on eToro with PayPal:

• eToro charges a fee for depositing funds with PayPal. The fee is 3.9% of the amount you deposit.

• eToro charges a fee for buying and selling Bitcoin. The fee is 0.75% of the amount you buy or sell.
• PayPal is a popular payment method, but it is not always the cheapest option.  

You may want to compare fees before you decide to use PayPal to buy Bitcoin on eToro.

How to buy Bitcoin on eToro Wallet

Here are the steps on how to buy Bitcoin on eToro wallet:

• Go to the eToro website and create an account.
• Verify your account by providing your email address, phone number, and date of birth.
• Download the eToro Money app.
• Open the eToro Money app and create a wallet.
• Deposit funds into your eToro Money wallet using a bank transfer, credit card, or debit card.
• Search for "Bitcoin" in the eToro Money app.
• Click on the "Buy" button next to Bitcoin.
• Enter the amount of Bitcoin you want to buy.
• Click on the "Buy Bitcoin" button. 

Some things to keep in mind when buying Bitcoin on eToro Money:

Your Bitcoin will be bought at the current market price and deposited into your eToro Money wallet.
Here are some things to keep in mind when buying Bitcoin on eToro Money:

• eToro Money charges a fee for buying and selling Bitcoin. The fee is 0.75% of the amount you buy or sell.
• eToro Money is a non-custodial wallet, which means that you have full control over your private keys.
• eToro Money is a secure wallet that uses two-factor authentication and cold storage for its Bitcoin reserves.

Pros and cons of buying Bitcoin on eToro Money:

Here are some of the pros and cons of buying Bitcoin on eToro Money:

Pros:

1. eToro Money is a secure and non-custodial wallet.
2. eToro Money is easy to use and has a user-friendly interface.
3. eToro Money charges a relatively low fee for buying and selling Bitcoin.
4. eToro Money is available in most countries.

Cons:

eToro Money is a newer wallet and does not have as many features as some other wallets.

1. eToro Money is not available in all countries.
2. eToro Money charges a fee for withdrawing Bitcoin from the wallet.  

Overall, eToro Money is a good option for buying and storing Bitcoin. It is a secure and non-custodial wallet that is easy to use and has a low fee structure. However, it is important to do your research before you buy Bitcoin on any wallet.

Frequently Asked Questions (FAQ)

What is eToro?
eToro is a social trading and multi-asset brokerage platform that allows users to trade a wide range of financial instruments, including stocks, cryptocurrencies, commodities, indices, and more. It was founded in 2007 and has since become a prominent player in the online trading industry, known for its user-friendly interface and social trading features.

How do I buy Bitcoin on eToro?
To buy Bitcoin on eToro, you need to create an account, deposit funds, and search for Bitcoin on the platform. Choose the desired position size and order type, either a "Market Order" for an immediate purchase or a "Limit Order" to set a specific purchase price. After confirming your order, you'll become a Bitcoin holder and can monitor your investment through eToro's platform.

Is eToro safe and regulated?
Yes, eToro is a regulated platform with licenses from various financial authorities in different countries. It complies with international financial standards, and user funds are held in segregated accounts for added security.

Can I trade other assets besides Bitcoin on eToro?
Absolutely! eToro offers a diverse selection of financial instruments, including stocks, cryptocurrencies, commodities, ETFs, indices, and more. Users can explore various markets and build a diversified investment portfolio.

What is social trading on eToro?
Social trading on eToro allows users to interact with and follow successful traders in real-time. Novice investors can learn from experienced traders' strategies and even copy their trades automatically, making it easier to navigate the financial markets.

How can I deposit funds into my eToro account?
eToro offers several deposit methods, such as credit/debit cards, bank transfers, and various online payment options. Simply log in to your account, click on "Deposit," and choose your preferred deposit method to fund your account.

Is there a minimum deposit requirement on eToro?
Yes, eToro has a minimum deposit requirement that varies depending on your location and the deposit method you choose. Check the eToro website or platform for the most up-to-date information on minimum deposit amounts.

What fees does eToro charge?
eToro charges fees for certain services, such as spreads on trades and overnight holding fees. It's essential to review eToro's fee schedule on their website to understand the costs associated with trading and investing on the platform.

Can I use eToro on mobile devices?
Yes, eToro offers a user-friendly mobile app for both Android and iOS devices. The app allows you to access your account, execute trades, and monitor your investments on the go.

Is eToro available in my country?
eToro's availability varies depending on your country's regulations. The platform operates in many countries worldwide, but some regions may have restrictions. Check the eToro website to see if the platform is available in your country.

 Conclusion:

In conclusion, buying Bitcoin on eToro is a straightforward and user-friendly process, making it an excellent choice for both beginners and experienced investors. With a quick and easy account creation, funding options, and a variety of order types, eToro ensures that users can participate in the exciting world of cryptocurrencies with ease.

The platform's innovative social trading features have transformed the way people approach investing, allowing them to learn from successful traders and engage in the markets actively. As eToro continues to expand and adapt to the evolving financial landscape, it remains a trusted and reputable platform for those looking to venture into the world of Bitcoin and other digital assets. 

Whether you're interested in cryptocurrencies or other financial instruments, eToro's user-friendly interface and comprehensive services make it a compelling choice for anyone seeking to build and manage their investment portfolio.