The most well-known crypto in the world. Bitcoin is hugely popular to trade. This is something that eToro knows very well. They offer trading in Bitcoin among other cryptocurrencies for you to enjoy.
The best place you can start if you want to know all the details about every single area of the broker and what they offer is by heading here to our full eToro review.
Stay here though and we will give you all the information you need about exactly how to buy Bitcoin on eToro. This will include all the steps you need to follow to get started as well as any fees you may encounter along the way. We will also address any concerns or areas for improvement at the broker.
Let’s get started!
Table of contents
Is it possible to buy Bitcoin (BTC) on etoro?
You can buy Bitcoin on eToro as either a real asset or a CFD. The minimum trade amount when buying Bitcoin on eToro is $25 and you will be able to buy fractional Bitcoin from this amount. The eToro Bitcoin spread starts from 0.75% and you can also transfer them to the eToro Wallet if you wish.
How to buy bitcoins on etoro in 3 simple steps
Getting started and buying your first Bitcoin through eToro is as simple as these three steps we will guide you through:
1. Open an eToro Live account and get verified
Naturally, you will need an eToro live account first if you want to trade. This means completing the process to open an account and make your eToro first minimum deposit. This should be painless, in fact, we have created a separate guide on exactly how to do that. Check out our post on how to open an etoro live account for all the details you need.
2. Choose the Deposit methods to buy BTC
Once your account is open and verified, you are almost there. You will have to make a deposit to buy your bitcoin. This can be easily done in a number of ways. You can make a wire transfer, use your major credit/debit card, or PayPal to make your first eToro deposit.
3. Trade or Buy Bitcoins
Your account is open, your money is in, now it is time to make your trade. Head to the markets area of your eToro profile, click on “Crypto” then “Bitcoin” and you will be almost there. You just need to hit “Buy” (non-leveraged), select the amount of bitcoin you want to purchase and click on “buy” again to place the trade.
Once the trade has executed, the crypto is yours to do what you like with. This means you can trade them later, keep them, or easily transfer them to your eToro wallet.
Can I transfer Bitcoin from eToro to my wallet?
Transferring Bitcoin from eToro into your wallet can be done if you follow the limitations and requirements that eToro has in place for making Bitcoin transfers. You will also have to make sure you have bought the underlying Bitcoin as real and not as a CFD.
You can get your eToro Bitcoin wallet simply by depositing Bitcoin into the eToro wallet itself. This will work to automatically open your BTC wallet with eToro.
There are certain limitations and requirements you will have to follow when doing this. We will take a deeper look at what these are below.
How to send BTC from eToro to the eToro wallet
Follow these steps to get your BTC from eToro into your eToro wallet:
First off, you have to make sure you buy the BTC as real on the eToro platform. This means buying 1:1 (no leverage) and opening a long position (Any short is traded as a CFD).
Once this is done you can head to your portfolio selecting:” Bitcoin” then “edit trade” and finally “transfer to wallet”. This will prompt a pop-up window that will show you how many BTC you are trading, and how much it will cost.
Limitations when transfering BTC from/to eToro
The BTE eToro limits and requirements we mentioned are that there is a minimum transfer of 0.0086 BTC from eToro to eToro Wallet. The maximum amount that can be sent in a single transaction is 2 BTC, while the maximum amount in a day is 10 BTC.
If you are making BTC Withdrawals from the eToro Wallet then you will have to observe a minimum withdrawal amount of 0.0086 BTC, and making a cash transaction from the eToro wallet in all crypto is subject to a maximum per transaction limit of $50,000 or a maximum daily limit of $200,000.
eToro Fees and Commissions on Bitcoin
You may encounter a few fees or commissions when trading Bitcoin through eToro. Here is everything you need to know in that respect:
eToro Bitcoin Transfer fees
There is an eToro Bitcoin withdrawal fee of 0.0005 BTC. This is the only fee you will experience when sending or receiving Bitcoin though there may be blockchain fees separate to this. The blockchain fee is charged independently of eToro.
BTC Trading fees with eToro
Trading Bitcoin through eToro is totally commission-free. The only trading fees you will find here are the spread that starts at 0.75% on Bitcoin and the overnight fee if you are trading as a CFD. The spread can change based on the volatility of the market which can be a little unpredictable on all crypto.
If you want a full overview of eToro fees and spreads, we pointed out all the useful info for you in the eToro fees and spreads guide.
Why should you buy Bitcoins on eToro?
Again you can head over to our in-depth review if you want to check out all the positives around this top broker. Here is where you can find our eToro review
It is worth mentioning here though that eToro is extremely well-regulated. They also provide a great trading environment in terms of the available research tools and analysis that comes from industry experts. It is really easy to make your deposit with low fees and you can get to know the broker through a very easy to use, unlimited eToro demo account.
Added to that, they even provide the dedicated eToro Wallet and eToroX crypto exchange to help you safely store and trade your Bitcoin and other cryptos.
Things to know if you plan to day trade BTC on eToro
As a day trader of BTC on eToro you will want to know a little more about all the assets that are available here. These are what we have found:
Discover every BTC Cross on eToro
A great range of BTC crosses with fiat currencies is available to be traded. This range includes BTC with the EUR, GBP, JPY, AUD, NZD, CAD, and CHF
You can also trade crypto-crypto pairs with BTC through eToro. The available pairs are BTC/EOS, BTC/XLM, and ETH/BTC.
Finally, you can even trade BTC in a pair with gold through eToro giving you a wide range of assets to choose from.
An overview of BTC Trading with eToro
There are a few final points to note when you plan on trading Bitcoin with eToro. The first of these is that the broker does not allow scalping. If this is your strategy you should look elsewhere.
You also can use leverage to trade crypto here but if you do then this crypto can’t be moved to your eToro Wallet since it is traded as a CFD. The same is true with going short which can only be done as a CFD.
To trade the real underlying Bitcoin asset, you need to have a long position and trade 1:1 with no leverage.
eToro BTC spreads and fees
The Bitcoin eToro fees start with a 0.75% spread that can vary while there is also an overnight fee if you hold Bitcoin CFDs overnight. A withdrawal fee of 0.0005 BTC is also charged.
Pros and Cons on buying Bitcoin on eToro
Here is a round up of some of the best points we found about buying Bitcoin through eToro and some points for them to work on:
They are an extremely well-regulated broker with a global reputation
The minimum deposit is low enough for them to be accessible to all
Setting up and trading is a very user-friendly experience
You can unlock your eToro BTC wallet with a small transfer amount
eToro BTC spreads can get high depending on market volatility
Our opinion on buying BTC on eToro
Overall, we can say that eToro is a top broker choice when it comes to making an investment in Bitcoin. Their excellent worldwide reputation is supported by a great BTC and crypto trading environment that provides both safety and flexibility.
You will have so many options when trading BTC at eToro with Bitcoin/fiat currency pairs, BTC/Crypto pairs, and even BTC/Gold trading available with all assets tradable as real or CFDs and the use of leverage permitted.
This provides a great setting for investing in BTC over longer periods although day trading may not be ideal due to the higher spreads. The ability to transfer your BTC into the eToro Wallet also caps off a really attractive offering from an already leading broker.
How to buy BTC on eToro FAQ
Why buy bitcoin on eToro?
eToro is one of the best choices to trade bitcoin because there are no commissions and charge no hidden fees. The only fee is the overnight fee if you’re trading CFDs and the spread which starts from 0.75%.
Can I buy Bitcoin with PayPal on eToro?
Yes, there are many payments methods you can use, and Paypal is one of them.
Filippo is the co-founder and CEO of InvestinGoal.com. He has 15 years of experience in the financial sector and forex in particular. He started his career as a forex trader in 2005 and then became interested in the whole fintech and crypto sector.
Over this time, he has developed an almost scientific approach to the analysis of brokers, their services, and offerings. In addition, he is an expert in Compliance and Security Policies for consumers protection in this sector.
With InvestinGoal, Filippo’s goal is to bring as much clarity as possible to help users navigate the world of online trading, forex, and cryptocurrencies.
Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. Cryptocurrencies can widely fluctuate in prices and are not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Your capital is at risk. The present page is intended for teaching purposes only. It shall not be intended as operational advice for investments, nor as an invitation to public savings raising. Any real or simulated result shall represent no warranty as to possible future performances. The speculative activity in forex market, as well as in other markets, implies considerable economic risks; anyone who carries out speculative activity does it on its own responsibility.
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