Traders and investors of all levels, from novices to experienced professionals, are showing interest in the cryptocurrency market. Acquiring Bitcoin is easy using different companies and exchanges, including the reliable eToro, where you can work towards your financial aspirations in diverse markets. Discover the process of acquiring Bitcoin through eToro and the pricing details.
What is eToro
eToro is a 2007-founded multi-asset investing platform that offers trading of stocks, bonds, ETFs, Forex, and cryptocurrencies, including BTC. eToro is an excellent choice for buying Bitcoin due to its user-friendly interface, regulatory compliance by the UK’s FCA and Cyprus’s CySEC, educational resources, social trading, and diverse payment options.
Its intuitive interface eliminates the need for a Web 3.0 wallet. The platform supports peer-to-peer networks and social trading, allowing users to exchange investments and trade directly.
eToro’s security measures include cold wallets for assets and two options for storing holdings: eToro or self-custodial wallets. It operates under various regulations across the globe.
The platform also offers educational resources, such as webinars and market analysis, to help users make informed decisions. The social trading feature allows users to observe and replicate top investors’ trades, increasing their chances of success.
How eToro Fees Work
eToro charges a 1% fee for buying or selling cryptocurrencies, plus an additional spread. This fee is included in the quoted price when placing an order. The 1% cost of buying BTC and the 1% expected cost of selling the asset are indicated as a “loss” on the platform. The minimum amount of Bitcoin is $10. A 2% fee is charged when transferring Bitcoin to a wallet, with a minimum withdrawal value of $30.
Benefits and Risks of Buying BTC on eToro
eToro is a user-friendly platform for trading BTC, offering an accessible interface, detailed charts, stats, and news on BTC price trends. It charges a flat fee of 1% for buying or selling crypto and provides CryptoPortfolio services, a crypto wallet, and social trading for less experienced investors.
However, investors should be aware of the highly volatile crypto prices, the platform’s use of USD as the base currency, and the inactivity fee for accounts that have been inactive for 12 months.
Creating a Wallet
eToro is an investment app that functions similarly to the website, offering charts, trading room, asset management, and deposit/withdrawal capabilities. Users can create a separate wallet or store digital assets in their account wallet. To transfer Bitcoin, users can use the eToro app, which handles transactions and opens wallets for free.
Buying BTC Step-by-Step
To buy Bitcoin on eToro, follow these steps:
1. Register a new account on the eToro website.
2. Enter your password, email address, and username, and accept the disclaimers.
3. Validate your account by providing additional information, such as your address, social security number, birth date, and phone number.
4. Make your initial deposit using bank transfer, digital wallets, or credit/debit cards.
5. Search for BTC using the search bar or choose it from the list of best cryptocurrencies.
6. Make a purchase order by opening the Bitcoin chart, entering the desired investment amount, setting stop-loss and take-profit limits, and submitting the order.
7. Monitor your BTC investments and market updates to see if prices have changed and make necessary adjustments.
Bottom Line
eToro is a reliable platform for trading Bitcoin and other financial assets. To buy BTC, users need to create an account, deposit money, and submit a buy order. The platform offers a feature-rich trader’s room with order limitations, analysis tools, and charts. It’s beginner-friendly, with a demo account for practising trading. However, research before investing and understand the risks involved.
Last Updated on by Icy Tales Team
