So, you want to buy bitcoin through eToro?
Awesome. Of course, you can check out our full eToro review for everything you need to know about this top-class broker.
Here though, we will focus on the question of, can you buy bitcoin on eToro? You will find this answer and much more in detail about bitcoin and cryptocurrencies through the broker directly, and their eToroX platform.
Let’s take a closer look.
Can you buy bitcoin on eToro?
It is possible to buy Bitcoin on eToro using a number of methods. You can purchase bitcoin through the eToro platform, or use the dedicated cryptocurrency service eToroX.
Buying bitcoin through eToro you will be able to purchase the real asset or invest in derivatives through a bitcoin CFD. The eToro BTC spreads start from 0.75% of the transaction.
If you want to see and try first-hand the eToro Bitcoin trading and commissions without risk, you can open an eToro demo account (68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.).
How to buy Bitcoin on eToro?
The process of getting set up to buy Bitcoin on eToro is fast and simple. First off, you should head over to the eToro website to register. This is an easy process that you can be guided through quickly when following the on-screen prompts.
Once you have signed up, your account will need to be verified. Again, this can be done online and with just a couple of documents to prove your identity and residence. You can then make your deposit. The eToro minimum deposit is $200.
With these steps followed, it is time to buy your Bitcoin. You can even use your credit card or Paypal and you can select whether to buy direct from the eToro platform or through the eToroX platform that also provides a secure crypto wallet function.
Do you own the Bitcoins you buy on eToro?
Whether you own your eToro Bitcoin depends on your location. eToro doesn’t offer real cryptocurrencies in some places. If you are using leverage or opening short positions, then you are trading CFDs and not the real asset. Opening non-leveraged, long positions, you will own the Bitcoin. US traders will always own their Bitcoin since CFD trading is not permitted.
Why use the eToro platform to buy bitcoin?
There are many reasons why you should consider buying your bitcoin through eToro. Primarily, the fact that they are an extremely well-trusted broker is a big positive. They also have cheaper rates and fees than many other exchanges and brokers.
As a social and copy trading leader, eToro also offers you the chance to learn from others on an easy-to-use, yet in-depth enough trading platform which is well-respected throughout the industry. Finally, if you are looking for choice, then they offer more than 120 cryptocurrencies to choose from through the eToroX exchange.
For a full and in-depth review on BTC on eToro, including an overview on fees and eWallet transfer costs we recommend checking out our full guide on how to buy bitcoin on eToro.