How To Buy Bitcoin (BTC) on eToro: Fees, Features & Step-by-Step Guide

Are you looking to buy Bitcoin on eToro? In this article, we'll show you step-by-step how to buy Bitcoin on eToro quickly and securely. We'll also explain how you can use eToro's powerful trading tools to manage your Bitcoin investments. Ready to get started? Let's dive in and learn how to buy Bitcoin on eToro.

How to Buy Bitcoin on eToro
Available Coins:
20+
CFD Trading:
YES
Minimum Deposit:
$200
Visit eToro

Capital At Risk

Summary

Buying Bitcoin on eToro is an easy and beginner-friendly process that allows anyone to invest in the world’s most popular cryptocurrency. In this article, we’ll show you step-by-step how to buy Bitcoin on eToro quickly and securely. We’ll also explain how you can use eToro’s powerful trading tools to manage your Bitcoin investments. So, if you’re ready to get started, let’s dive in and learn how to buy Bitcoin on eToro.

Number of Coins: 20+
Margin Trading: YES
Minimum Deposit: $200

Invest In Cryptocurrency With $0 Commission

  • Supports Multiple Languages
  • Regulated by FCA, ASIC & CySEC
  • Paypal, Debit & Credit Card Accepted
BankGiro PayMastercardNetellerPayPalSkrillUnionPayVisaYandex

Visit eToro

eToro Full Review

Capital At Risk

Things to Consider When Choosing a Bitcoin Exchange

Location of Bitcoin Exchange: The far most important step in selecting an exchange is its location. Different countries have different rules and regulations in place that govern the affairs of digital currencies. Examining the exchange’s host country and its relevant regulations should be your priority number one while choosing a Bitcoin exchange.

List of Available Payment Methods: Bitcoins can be exchanged against all major cryptocurrencies in most of the major crypto exchanges, still, you have to examine various costs when you buy Bitcoin (BTC). Additionally, you can buy Bitcoin using traditional payment methods such as credit cards, wire transfers, PayPal, cash, etc. So you have to see which exchange offers the preferred payment methods.

How to Check the Cost & Fee: Finding the cheapest way to buy Bitcoin is always the point of interest for buyers. Therefore costs associated with Bitcoin buying play a vital role when selecting a Bitcoin exchange. It is good to compare the costs of reputed Bitcoin exchanges, However, never be the prey to scams or shady exchanges with unusually low fees. It is pertinent to mention here that charges are subject to change on and off, therefore always go through the price section of the exchange before making your final decision.

Volume Listing: Usually, a renowned exchange will have a volume listing interface through which a series of orders is displayed containing the buying and selling requests. This feature is known to be one of the best methods in deciding whether the exchange is legit or not to buy Bitcoin. High buying and selling orders mean more customers referring to this exchange. Those who do not list their order books openly may be suspicious and must be avoided.

Types of Bitcoin Platforms Offered

Popular exchanges tend to keep things simple for their customers. Normally three types of platforms are offered;

Web Trader

With web traders, Bitcoins can be purchased online without downloading anything on a PC or mobile. All you need is to log into your account on the exchange’s website and buy Bitcoin.

Desktop Platform

Clients who prefer trading assets from the ease of their desktop may download the custom-built desktop trading platform at eToro.

Mobile Platform

On-the-go traders and investors prefer mobile trading platforms for buying and monitoring Bitcoins. So make sure that your shortlisted exchange offers the preferred trading platform.

How to Buy Bitcoin on eToro

Considering the above-mentioned guidelines on choosing a good Bitcoin exchange, we can safely conclude that the eToro trading platform is one of the best Bitcoin exchanges. It satisfies all points in the aforementioned checklist. If you are a newbie Bitcoin investor and wondering how to buy Bitcoin on eToro then given below is a complete guide for you.

A Step By Step Guide to Buy Bitcoin on eToro

Once you’ve selected eToro as your desired exchange to buy Bitcoin, things should be going pretty smoothly and fast thanks to the world-class trading experience, support, and user interface offered by eToro. Whether or not you have used eToro before, let us go through a quick and brief explanation as to how things work when you plan to buy Bitcoin from eToro.

Unlike other exchanges, eToro doesn’t make setting up a trading account mandatory before you can buy Bitcoin. Even if you don’t have an account with eToro, you can still buy Bitcoin with eToro directly using the available payment methods including but not limited to credit card, debit card, wire transfer, Skrill, Neteller and web money, etc and without having to pay for any added commission.

eToro also offers its clients some commendable features like market orders and immediate execution to buy or sell Bitcoins. On top of that, it doesn’t require clients to use any digital wallet to do so.

Since most of the crypto exchanges don’t accept fiat currencies, therefore, you are likely to find eToro more convenient as it allows you to deposit in fiat currency in at least nine other currencies such as EUR, AUD, GBP, THB, RMB, MYR, IDR, PHP, and VND including the USD.

How to Open a Bitcoin Trading Account with eToro?

Opening a Bitcoin trading account is as simple as following a few steps. It works the same way as any traditional account is opened. All you have to do is to select your desired crypto when making a purchase. To make the process easy to understand, let us guide you through a step-by-step illustration below.

How to Buy Bitcoin on eToro

 

  1. Click the sign-up button available on the top right corner of the website.
  2. Provide your email address, alternatively, a pre-existing Google or Facebook account can also be used to complete the registration process.
  3. As soon as you are done signing up, your account is funded with virtual money of $100,000 that you can use to place virtual trades. This is to help you familiarise yourself with the platform.
  4. Click the method you wish to fund your account to buy Bitcoin on eToro; there is no deposit fee at all.
  5. After you are done with the payment module, you will receive an equal amount of Bitcoin in your wallet right away.

How to Buy Bitcoin on eToro

How to Buy Bitcoin on eToro with Credit Card?

  1. Visit the exchange from where you wish to buy Bitcoin
  2. Indicate your desired amount
  3. Provide your ID for verification purposes
  4. If the purchase is below $2250, then it can be done with no ID. However, it is recommended to get your account verified to be able to deposit more.
  5. Fill in your wallet address
  6. Provide your credit card details
  7. Authorize payment to receive Bitcoin directly into your wallet.

* Fee and charges apply
** Account holders with no ID verification can buy Bitcoins of worth $2250 at max. To buy more Bitcoins, your account needs to be verified first.

How to Buy Bitcoin on eToro with a Debit Card?

Should you wish to buy Bitcoin using your debit card, please follow the given below guidelines;

  1. Visit the official website of the world’s most trusted Bitcoin exchange by clicking this link www.etoro.com
  2. Access the Sign-Up page to register for a new account
  3. Should you wish to deposit funds without ID, you are allowed to deposit up to $2250 with no ID. However, it is strongly recommended that you verify your account to unblock deposit limitations.
  4. Enter your email address followed by your other details such as your billing address and proof of identification.
  5. Fund your account to Buy Bitcoin on eToro by selecting a debit card as a mode of payment, it should be no less than $200 as your first deposit. However, you can deposit as low as $ 50 afterwards.
  6. Click on “Buy BTC” and put an amount you wish to buy Bitcoin for
  7. Click Finish to complete the purchase, the purchased Bitcoins will be transferred to your Bitcoin right away.

Remember, you must keep four things in your mind before you start trading Bitcoins. It includes units, SLs, TPs, and Leverages.

*Non-verified account holders can buy Bitcoins for a maximum worth of $2250.

How to Buy Bitcoin on eToro with PayPal

Buying Bitcoin at eToro using a PayPal account has always been a point of concern since it is always a relatively difficult process to buy Bitcoin with PayPal. In past, there were not many options available to buy Bitcoins with PayPal, same is the case today. However, let us guide you with a convenient method to buy Bitcoin with PayPal. For that, you’ll need to understand that eToro being a social trading platform allows you to use PayPal and buy Bitcoins. However, in actuality you don’t get Bitcoins but the price exposure.

The buying price for BTC with your PayPal can be fairly high as compared to other payment methods such as debit and credit cards. Therefore, it is always recommended to use debit or credit cards to buy Bitcoins.

  1. Visit www.etoro.com
  2. Click Sign In/Sign Up (for the new customers)
  3. Select the amount of Bitcoin you wish to purchase
  4. Select the payment method “Paypal” in this case.
  5. Click next to proceed with the payment.

*Non-verified account holders can buy Bitcoins for a maximum worth of $2250.

Can you buy Bitcoin on eToro with Cash?

No, you can’t buy Bitcoins with cash at eToro. Although
buying Bitcoins with cash can be a quick method to buy Bitcoins it is equally unsafe as it contains a risk factor of becoming a victim of a scam. Also, it has higher transaction charges as compared to other payment options.

There are other cheap methods available to buy Bitcoins, so buying Bitcoins with cash must be avoided. Also, when the world is progressing towards digital globalization, purchasing Bitcoins with cash instead of digital payment methods makes no sense.

How to Buy Bitcoin on eToro with Bank Wire?

Another way to buy Bitcoin at eToro is to use bank wire. It is one of the most convenient methods which is also fast and secure. The fee related to buying Bitcoin via bank wire at eToro is relatively low. Listed below are the steps that must be completed before your Bitcoin purchase using a bank wire.

  1. Visit the official website of the exchange from which you are looking to buy Bitcoin
  2. Click register to sign up for a new account
  3. Enter your details and wallet address where digital currency is to be transferred
  4. Select the amount of BTC you wish to buy
  5. Select bank transfer as a payment method and add a bank account.
  6. Click proceed to finish the transaction and receive Bitcoins in your wallet

Non-verified account holders can buy Bitcoins for a maximum worth of $2250.

How to Buy Bitcoin on eToro (All eToro Methods)

eToro is the world’s most popular social trading platform, it provides multiple methods for its customers to buy Bitcoin. It offers the world’s cheapest ways to buy Bitcoin and supports almost all payment methods which any other exchange may barely be offering. Customers can use their debit cards, credit cards, bank wires, web money, visa, master card, Netteller, skrill, rapid transfer, China Union Pay, etc.

All details related to minimum and maximum amount of deposits through variant methods may be found on this link https://www.etoro.com/customer-service/deposit-faq/

Non-verified account holders can buy Bitcoins for a maximum worth of $2250.

Frequently Asked Questions (FAQs)

  • Can you buy actual bitcoin on eToro?

    Yes, you can buy bitcoin on eToro. In fact, eToro is one of the easiest platforms to buy and sell bitcoin. You can also buy and sell other cryptocurrencies on eToro, including Ethereum, Bitcoin Cash, Litecoin, and XRP.

  • How long does it take to purchase bitcoin on eToro?

    it takes about 5 minutes to buy bitcoin on eToro. You just need to create an account, deposit some funds, and you’re ready to go!

  • Where is the best place to buy Bitcoin?

    The best place to buy Bitcoin will vary depending on your location and personal preferences. However, some of the most popular places to buy Bitcoin include exchanges like eToro, as well as peer-to-peer platforms like LocalBitcoins.

  • Can you withdraw Bitcoin from eToro?

    Yes, you can withdraw Bitcoin from eToro. In order to do so, you must have a user account and meet the minimum deposit requirements. You can withdraw your Bitcoin in either USD, EUR or any of their listed currency, and the withdrawal process is relatively simple.

  • How do I buy Bitcoin with Debit Card eToro?

    If you’re looking to buy Bitcoin with a debit card, eToro is a great option. They offer a variety of payment methods, including debit and credit cards, so you can choose the one that’s best for you.Plus, their platform is very user-friendly and easy to navigate.

  • Can I send Bitcoin from eToro to another wallet?

    Yes, you absolutely can send Bitcoin from eToro to another wallet – and in fact, many people do just that! While eToro is a great place to buy and sell Bitcoin, some folks prefer to store their coins in a more traditional (and arguably more secure) wallet.

  • Do I need a crypto wallet with eToro?

    There is a lot of debate amongst investors as to whether or not you need a crypto wallet when investing in eToro. While some say that it is not necessary, others argue that it is an essential piece of security. It all boils down to personal preference.

  • Is eToro safe?

    Yes, eToro is safe. Their security measures are top-notch and they have a long history of providing a secure trading environment. However, as with any investment platform, there is always some risk involved. So please be sure to do your own research before investing any money on eToro.

  • Does eToro charge fees for cryptocurrency?

    Yes, eToro charges fees for cryptocurrency transaction. The broker has a standard and transparent 1% fee.

  • Is eToro OK for beginners?

    Yes, eToro is a great platform for beginners. It’s user-friendly and provides a lot of information and support to help you get started. Plus, it has a wide range of features that make it ideal for all kinds of traders, from beginner to advanced. So if you’re new to trading, or just want to explore different options, eToro is definitely worth checking out.

Edith is a crypto writer, trader, and personal finance coach specializing in investment advice around the crypto market. Her fields of expertise include blockchain, forex, indices, bonds, and cryptocurrency investments. When she is not writing, she enjoys travelling and reading.