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How Can You Buy Bitcoin on eToro? Detailed Guide

Buy Bitcoin on eToro

eToro is a platform for trading and investing that started in 2007. It helps you learn and grow your money with a worldwide group. Everyone wants their money to grow. Some of us are just starting out, while others know more, but we all want to improve. They make trading and investing easy and clear for everyone. They think sharing knowledge is powerful. So, they made a community where people can learn and invest together. In this post, we’ll see how you can buy Bitcoin on eToro. You can buy Bitcoin using your bank account, ACH transfer, or debit card.

How can you keep your Bitcoin safe and secure?

Before we get into buying Bitcoin on eToro, it’s important to keep your Bitcoin safe.

Here’s how:

Once you buy Bitcoin, you need to store it safely. Many exchanges or trading sites let you keep your Bitcoin and other cryptocurrencies on their platform. Some have their own wallets or separate accounts where you can transfer your crypto. These sites are usually very secure, so your assets, including Bitcoin, are safe where you bought them.

But some people prefer to move their cryptocurrencies to a different storage option. Crypto wallets are a good choice. They keep your bitcoin safe and let you send and receive it.

There are different types of crypto wallets to consider for keeping your bitcoin safe:

  • Mobile Wallets: These are apps that keep your private keys on your smartphone.
  • Web Wallets: These are online servers controlled by third parties that store your private keys.
  • Desktop Wallets: These are computer programs that let you store your private keys on your computer’s hard drive.
  • Hardware Wallets: Hardware Wallets are physical devices that works to store your private keys offline.

Step-by-step guide: How To Buy Bitcoin on eToro?

The eToro trading platform lets you invest in big cryptocurrencies like Bitcoin, Ethereum, and Cardano. eToro doesn’t sneak in any extra fees, which is good for investors. It’s easy to buy and sell Bitcoin on eToro, almost like buying a stock. Here’s how:

  1. First, sign up for an eToro account, or log in if you already have one.
  2. Then, go to the cryptocurrency page. You can find it under ‘Discover’ and then ‘Crypto’. Look for Bitcoin or use the search bar. When you find it, click on ‘Trade’.
  3. When you click on Bitcoin, you’ll either see details about it or go straight to the order panel. It might seem a little confusing, but if you click ‘Invest’, it’ll take you to the same place.
  4. On the order panel, you’ll see two options at the top right: trade or order.
  • Trade: Buy a certain amount of Bitcoin at its current price.
  • Order: Set a price target for Bitcoin and how many coins you want. Your order happens when the price hits your target.
  1. Choose how much you want to invest. You can switch between ‘Amount’ and ‘Units’.
  • Amount: Pick the dollar amount you want to spend on Bitcoin. You can type it in or use the +/- buttons. You need at least $10. If you try to buy less, it’ll remind you. Make sure you have enough money in your account, or it’ll ask you to deposit.
  • Units: Decide how many Bitcoins you want. You can buy even a small fraction, like 0.1 or 0.04 Bitcoin. Again, make sure you have enough money.
buying Bitcoin on eToro
  1. Once you’ve decided, hit the big blue button. Depending on your order, it might say ‘Open Trade’ or ‘Deposit Now’. Your order will only go through if your profile is approved, meaning you’ve shown eToro your ID and address.
  2. If you don’t have enough money, it’ll take you to the deposit page. Choose your deposit method and follow the steps to add more money to your account.
  3. Congratulations! You’ve officially bought Bitcoin on eToro!

How can I buy Bitcoin with a bank account?

Here’s how you can buy Bitcoin using a U.S. bank account in three simple steps:

  • First, sign up for an eToro account.
Register and Create an eToro account
  • Connect your new eToro account to your bank account. Now, you can ask your bank to move money from your bank account to your eToro account.
Link your new eToro account to your bank account
  • Click on the BUY button next to Bitcoin (BTC), and choose how much you want to buy (either in dollars or in units). Then, click on OPEN TRADE, and the bitcoin you bought will show up in your portfolio.
Select the BUY button

How can I buy Bitcoin with an ACH Transfer?

Here’s how you can buy Bitcoin using an ACH transfer:

An ACH transfer is a way to move money between banks electronically. It’s called an ACH transfer because the banks use the Automated Clearing House Network to process the transactions. If you’ve ever paid a bill online using your bank account or received your paycheck directly into your bank account, you’ve used ACH. You can use this same method through online banking to buy Bitcoins.

How can I buy Bitcoin with a debit card?

Here’s how you can buy Bitcoin using a debit card on eToro:

  • Sign Up: First, you need to create an account on eToro. It’s quick and easy. Just fill in your information and confirm your account.
  • Link Your Debit Card: Once your account is set up, connect your debit card to it. You’ll also need to go through a verification process, which is required.
  • Transfer Funds: After linking your debit card, you can transfer funds to your eToro account.
  • Buy Bitcoin: Now, you’re ready to buy Bitcoin. Simply click on the option to purchase Bitcoin. On eToro, you can even buy a part of a Bitcoin if you don’t want to buy a whole one.

Bitcoin Trading Fees at eToro

When you trade Bitcoin on eToro, there are fees you need to know about. eToro says it’s a broker that charges low fees and is clear about them. The main fee you’ll see when you buy Bitcoin on eToro is a 1% fee. This fee applies when you buy or sell Bitcoin.

When you start a new trade, you’ll notice something called a “loss”. This “loss” is the 1% fee for buying Bitcoin and another 1% fee for selling it. These fees are included in the price you see when you open or close a trade.

When you close the trade, the selling fee changes to match the current market price of Bitcoin.

The 1% fee gets added to the market price of Bitcoin. This means it’s included in the difference between what people are willing to pay for Bitcoin (the bid price) and what sellers are asking for it (the ask price). At the moment, this price difference for Bitcoin is 0.75%.

Also, remember that if you don’t use your eToro account for a year, eToro will charge you a fee of $10 each month. But you can avoid this fee just by logging into your account.

How do I transfer Bitcoin from eToro to a wallet?

Here’s how to circulate bitcoins from eToro to your pockets:

  1. After buying bitcoins on eToro, you can move them to separate pockets for safekeeping, spending, or sharing with others. This is called ‘Crypto Transfer’.
  2. Read our step-by-step guide to learn how to transfer Bitcoin to eToro Money, an external wallet, along with requirements and fees.
  3. EToro Money is an app available for iOS and Android devices. You will use the same username and password as your eToro trading account.
  4. Note that once you switch bitcoins from eToro in your wallet, you will not be able to send them back to eToro.
  5. Once your Bitcoin is designated for your eToro Money wallet, you can exchange it for a special cryptocurrency or send it elsewhere.
  6. Alternatively, you can close your Bitcoin position on eToro and choose a price spread in USD or another currency.

Bitcoin Transfer Requirements and Limits

To transfer bitcoins (BTC) to eToro Money crypto wallet, you should have real bitcoins (not CFDs).

New eToro users have limits on switching amounts: Your remaining money (general cash minus transfer amount) should be equal to or higher than normal deposits made using certain price methods.

EToro Money Pockets support bitcoin, bitcoin cash, ethereum, litecoin, stellar, tron, cardano, and XRP. You can switch, send, get, buy and transfer these currencies using your wallet.

Bitcoin Transfer Fees

Bitcoin transfer prices are the amounts you pay when you transfer Bitcoins from one region to another. These fees depend on how many tons of Bitcoins you move. Right now, the Bitcoin transfer fee is 2% of the amount you are moving. However, there is a minimum amount you need to transfer to pay the fee, which is zero, 007195 Bitcoins.

This means that if you move much less, you still have to pay $1. But even if you’re moving a large amount of Bitcoins, you won’t pay more than a hundred dollars for the price. If you need to be aware of modern prices, you can visit the eToro website.

Benefits of Trading Bitcoin on eToro

There are many advantages to trading Bitcoin on eToro. The platform is easy to use, making trading easy for anyone. You can also connect with and learn from different investors.

Here are some of the bigger benefits:

1. eToro provides charts that are easy to understand. These charts will help you see how Bitcoin is doing in the market.

2. You can create a list of cryptocurrencies that interest you and receive real-time updates. This allows you to live informed about what is happening with Bitcoin and various cryptocurrencies.

3. EToro offers you free updates of approximately current cryptocurrency information and research. This will help you make informed decisions about your investments.

4. EToro provides facilities to help you manage your risks. For example, you can set parameters to prevent buying and selling or to take profits to defend your investments.

5. With eToro, you get a wallet to securely store your bitcoins. You can also use it to spend bitcoins whenever you want.

6. EToro offers a demo account where you can try buying and selling with $100,000 virtual cash. This will help you try out the features and get the hang of buying and selling before using real cash.

Discover more about Bitcoin

If you want to be aware of Bitcoin, it is important that you are aware of it before you consider buying it. Bitcoin started in 2009 as a new way to pay for things online without banks or other intermediaries.

Simply put, Bitcoin is like a very secure e-book with online documents. It is a place where you can create, maintain, and send bitcoins, which are a type of digital money. In this e-book called Blockchain, bitcoin transactions are checked to make sure they are real, users live anonymously, and security is a big concern.

There are many places to learn more about Bitcoin if you are interested. Here are a few:

  • eToro Academy: This is a website that is suitable for beginners. It will teach you about Bitcoin and various virtual currencies in an easy-to-understand way.
  • The Bitcoin Standard: This e-book provides a detailed explanation of how Bitcoin works and why it is different from regular banks.
  • What Bitcoin Did: It’s a podcast that talks about the basics of Bitcoin and also includes today’s information and updates about it.
  • Bitcoin.Org: This website is paid with the help of individuals who help Bitcoin. It is a place where you can study everything from the basics to the more complex things surrounding Bitcoin.

Final Thoughts

So, we hope this step-by-step guide to buying bitcoins on eToro will help you achieve your financial goals. The eToro trading platform allows you to spend money on primary cryptocurrencies such as Bitcoin, Ethereum, and Cardano. They add no hidden fees, making it an incredible choice for merchants. Their site is easy to apply, and you can sign up and start buying cryptocurrency in minutes. Bitcoin is a controversial asset, however, it can be a good opportunity for investors who need to diversify their portfolio.