How to Buy Tezos (XTZ) on eToro: Fees, Features & Step-by-Step Guide

EToro is an online investment platform where you can buy and sell different types of assets, including cryptocurrencies like Tezos. This article is a step-by-step guide on how to buy Tezos (XTZ) on eToro, and we will show you how to use the different payment options to purchase the coin.

Author: Eric Gift   -   Last updated: 15/12/2023

Summary

There are up to 3,000+  assets of different types that eToro allows you to trade, including ETFs, forex, commodities, and cryptocurrencies. You can also trade their CFDs if you wish to enjoy the benefits while shouldering the risk. This article will discuss everything about buying Tezos on eToro using the various available payment methods. You will find that they are very easy to use, and the platform is a safe place to buy from. 

So, we will begin with an overview of some vital elements to consider before choosing a platform; then, we will proceed to lay out some vital information about the platform and show you how to buy Tezos (XTZ) on eToro in particular.

Things to Consider when Choosing a Tezos (XTZ) Exchange

Here are some important things to consider before you decide where to buy Tezos (XTZ).

Location of Tezos Exchange

Various exchanges operate in various regions, and every region has laws governing online asset sales. These laws may cover many things, from trade and leverage limitations to which assets are legal to trade. You should always check to see what laws apply in the region where your exchange operates.

List of Available Payment Methods

You want to be able to pay for your Tezos quickly, easily, and securely. You also want to have as many options as possible for your convenience or in case some payment service providers are down. This is why you should always ensure the exchange from which you want to buy Tezos has multiple payment methods and the best and most reliable ones at that. 

How to Check the Cost and Fee

As part of the money you spend on buying Tezos on any platform will go into fees and charges, you want to be sure your platform is being upfront about theirs. The charges must be freely available and easy to access so you can always know how much you will be spending.

Volume Listing

Reputable crypto trading exchanges usually have a page or section containing their volume listings. Such a section can help you gauge how much activity is going on in the exchange, which is usually an indicator of how legit it is. 

What you need to know before Buying Tezos (XTZ) on eToro

eToro is a global trading exchange headquartered in the UK and Australia. In addition to this head office, it has regional and branch offices in other locations, including Seychelles, Gibraltar, Malta, the US, and Cyprus. These are the locations of the offices in these regions..

The broker also complies with the regulatory standards of several regulators in its various offices, and here are these regulatory bodies.

Prices on the eToro trading platform are usually quite small, with fees reduced as much as possible. The spread, for instance, is generally 1% of every crypto transaction. However, the withdrawal and deposit fees can be quite high, with up to $5 for every withdrawal. Leverages are also quite small, with up to 1:2 for crypto CFD. Only the CFDs are leveraged, so if you bought real Tezos, you couldn’t trade it with leverage. Also, the leverages are the same whether you’re trading from inside or outside the EU. 

There are up to 12 payment options available on the broker, and you can use any of them to purchase the coin. They include credit cards, debit cards, bank transfers, and several electronic methods like Neteller and Skrill. We will show you how to buy Tezos (XTZ) on eToro using some of these methods.

Types of Platforms Offered on eToro to Buy Tezos (XTZ)

In the interest of making trading a more diverse and cross-platform experience for clients, trading platforms and exchanges will usually offer both desktop and mobile trading apps. And one or both of them may be proprietary or third-party. Let’s see which ones eToro has for you.

Desktop Platform

Desktop platforms or apps enable you to trade from your personal computer, and they generally allow you to access more features and data per screen than mobile apps. Sadly, eToro does not offer any desktop trading apps at the moment, and it’s not clear that it will in the near future.

However, it does have a proprietary web platform accessible on desktop computers. The platform is designed to be very user-friendly, with the characteristic eToro aesthetic and advanced functionality made easy to enjoy. Its features include the economic calendar and advanced charting tools.

Mobile App

Compared to a desktop app, a mobile app gives you a more handy and compact hud to work with, and it’s great for trading on the go. While the broker doesn’t offer any desktop app, eToro does operate a mobile app that’s very easy to use and has an aesthetically balanced interface. It has lots of great trading features apart from the one that allows you to buy eToro, including advanced charting and analysis tools, research and insight, and offline trading. eToro also features a crypto wallet – the eToro wallet – where you can store your crypto assets. Additionally, its social trading feature allows you to copy the trades of any pro trader of your choice. You can get the eToro mobile app on Google Play Store or the Apple app store.

How to Buy Tezos (XTZ) on eToro

We have looked at what to consider before choosing an exchange. By all these indicators, eToro ranks easily among the top marketplaces for buying Tezos. We will now walk you through the procedure for purchasing the coin on eToro.

A Step-by-Step Guide on How to Buy Tezos on eToro

  1. Open the platform website and create a new eToro account.
  2. Fund your account by clicking the “Deposit funds” button on the platform page, selecting a payment method of your choice, and performing the transfer by that method.
  3. Having funded your account, you can proceed to search for ‘Tezos’ or ‘XTZ’ using the search bar.
  4. Select the amount of Tezos that you would like to get on the Buy page and complete the purchase.

How to Open a Tezos Trading Account on eToro

  1. Access the signup page by clicking “Start Investing” on the homepage.
  2. Enter your email address, set a username and password, and then check the boxes to confirm that you agree to the terms and conditions stipulated.
  3. Your account is active, and you can now access the client portal. However, before you are allowed to purchase a Tezos coin, you must finish your verification.
  4. You will be taken to a window where you can complete your profile by clicking “Verify” on the client portal’s home page.
  5. Enter your sex and birthdate, then proceed by clicking the arrow on the right side of the window.
  6. Give your citizenship details and residential address, then check the box to indicate that you are not a ‘US Person.’
  7. Click “Confirm” to proceed after confirming your agreement to the requested account changes.
  8. You must provide the broker with information regarding your past trading history, source of income, and trading objectives in the series of windows that follows. How to Buy Tezos
  9. After completing all the previous steps, click “verify” in the window that appears on the homepage. You will then be asked to validate your ID and phone number through text and screenshots.
  10. Provide your tax ID Number or specify if you don’t legally need one, and click the arrow to complete your signup.

How to Buy Tezos (XTZ) Using Visa or Mastercard Credit Cards on eToro

  1. Log into your existing eToro account or create a new one.
  2. Tap on ‘Deposit funds’ to fund your account.
  3. Select ‘Credit/Debit Card’ on the initial page as your payment method, provide your Mastercard Credit card details, and then confirm the transaction.
  4. Search ‘Tezos’ or ‘XTZ’ in the platform search box. Tap ‘Buy’ to open the asset detail page, select the amount you want to buy, and then confirm the transaction.

How to Buy Tezos (XTZ) Using Visa or Mastercard Debit Cards on eToro

  1. Log into your eToro account or create a new one.
  2. Fund your account by using your Mastercard debit card.
  3. Search out and purchase your coin.

How to Buy Tezos (XTZ) Using Paypal on eToro

  1. Create an account and add money to it by using PayPal as your payment option.
  2. Search for XTZ or ‘Tezos’ in the search bar and tap on it. And on the asset page, select ‘Buy’, enter the purchase amount, and confirm the transaction.

How to Buy Tezos (XTZ) Using Skrill on eToro

  1. Create an account and fund it using a Skrill transaction.
  2. Use the search bar at the top of the page to look for XTZ or Tezos. And then, on the asset page, select the amount of Tezos you want to buy, and then tap “Buy” to complete the transaction.

How to Buy Tezos (XTZ) Using Neteller on eToro

  1. Open an eToro account and use Neteller as the payment method to fund it.
  2. Search out ‘XTZ’ or Tezos on the search bar and tap on it. Tap ‘Buy,’ specify how much Tezos you wish to buy, then confirm the buy order.

How to Buy Tezos (XTZ) Using Bank Wire on eToro

  1. Open an eToro account or log into your existing one, then fund it using a transfer from your bank account.
  2. Find Tezos on the platform’s list of available assets and open its details page. Then you can make the purchase by tapping “Buy,’ inputting however many Tezos coins you wish to buy, and confirming your buy order.

Buying Tezos vs Trading Tezos CFD at eToro

On eToro, there are two choices you may choose from: buying real Tezos or trading its CFDs, and each has benefits and downsides. One drawback of buying real Tezos is that eToro only permits leveraged trading for the CFDs of these digital assets. However, it’s the ideal option if you just want to speculate on price movements, are content to pay the entire asset value (due to no leverage), and plan to hang onto your assets for a considerable amount of time.

Trading CFDs is also ideal if you want to trade in either direction, don’t want to spend your money on crypto assets, and don’t want to control any underlying asset. However, you should know that CFDs are riskier because your losses could be amplified because of the leverage. Because this risk is much more impactful on retail traders, the FCA has banned the trading of crypto CFDs within UK territory. This means the eToro crypto CFDS and their leverages are only available to traders outside FCA jurisdiction. And speaking of leverage limitations, while some countries may have none, others may be as stringent as the UK, while others may not allow you to trade with leverage at all.

Bottom Line

All in all, buying Tezos on eToro is a straightforward process, especially due to its user-friendly and intuitive layout. You also get to choose from various options to pay for the coins. These payment methods have relatively large fees, which is not great if you are making small withdrawals. 

The broker’s other charges, however, are often modest and relatively reasonable. Regarding digital platforms, users who want to trade on a desktop will not be happy with the lack of a desktop app. However, the mobile app functions well and has many great features you can use. And so, we hope this article has provided you with all you need to know about how to buy Tezos (XTZ) on eToro.

Frequently Asked Questions (FAQs)

Because it has great security features and is extensively regulated, eToro is a safe exchange to buy Tezos.

Our article outlines How to buy Tezos (XTZ) on eToro, but in summary, you simply need to open an account, fund it, find the Tezos, and place your buy order.

When buying Tezos on eToro, you pay a spread of 1%.

Tezos is a great coin to buy if you hope to at least double your investment by 2028. Otherwise, the future outlook for Tezos is not too big.

You can buy Tezos with credit cards by using credit cards as your payment option.

You can buy up to 90 Tezos for $100 on eToro.

EToro does offer a wallet where you can store crypto, including Tezos.

You can transfer your Tezos from eToro to virtually any wallet of your choice.

Yes. There are some e-commerce platforms that will accept Tezos, and some utility companies may allow you to pay your bills using Tezos.

You can trade Tezos CFDs with leverage on eToro.

Tezos might be worth adding to your shortlist as a beginner if you plan to hold it for long.

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