Here is How you can Buy Bitcoin on Etoro
Here is How you can Buy Bitcoin on Etoro
August 18, 2023 | Crypto / Wallet
4 min read 
Kammil Sarbuland
Table of Contents
No matter what new cryptocurrencies keep showing up in the market, Bitcoin is the first and will always be one of its kind. It is the digital currency that paved the future for decentralized finance. If you are thinking about investing in Bitcoin, it is a safe haven investment, even today.
Yet, venturing into bitcoin trading can be a bit of a daunting task for the newbies. Luckily, eToro offers a series of straightforward steps for buying Bitcoin using your debit card, PayPal, or your bank account. The procedure includes simple steps like registering on eToro, linking your payment account, and acquiring your first Bitcoin. Do you know how to buy Bitcoin with eToro? If not, keep reading.
What is eToro?
eToro is a popular Israeli crypto, ETC, and stock trading platform founded back in 2007. Moreover, eToro Copy Trading traits let you mimic the experienced trades automatically.
Being a social platform, each trade on eToro learns something from its predecessor, sharing strategies and experiences on the market. It learns the ropes by distinguishing how expert trades behave. Beside this, eToro also offers several educational features for trades of all levels, including paper trading accounts to practice investing with $100,000 of virtual currency.
Once you sign up for an eToro wallet you can use it to securely store, sell, and spend your eToro crypto currencies.
Remember that when you buy Bitcoin without any leverage, let's say 1X, you will buy real Bitcoin instead of Bitcoin CFDs. Every other position will be CFD, i.e leveraged long and short positions in Bitcoin.
You can follow the below steps to sign up for an account, finance it, and purchase Bitcoin using eToro:
- Create an account on eToro using your email, Gmail, or Facebook account by clicking on “Join Now, ” and complete your registration by uploading a picture of your ID, proof of address, and acknowledging the verification email.
- Deposit at least $10 to your eToro PayPal, a debit card, or your bank account.
- Look for Bitcoin using eToro’s user-friendly dashboard, enter how much Bitcoin you want to buy in either BTC value or U.S dollars, and finally, make your purchase by clicking “Open Trade”
Let’s get into the details of the above steps.
Steps for How to Buy Bitcoin on eToro
Step 1 – Set Up Your Account
Setting up your eToro account is the first step to start making trades on eToro. It consists of a few simple and quick steps.
Go to eToro.com
Visit eToro’s official website that is “www.etoro.com” using your internet browser app.
Sign Up for eToro Account
On the landing page you will see a button saying “Join eToro”, click on it and this will take you to the sign up page where you can create your eToro account using email ID, gmail account, or a Facebook account.
Enter Personal Details
Once done with the email and password setting, you will be asked to choose your username. Below it, you will see two check boxes for term and conditions and privacy policy, mark them and click on “Create Account”
Remember: Before marking the check boxes, carefully read eToro’s terms and conditions, and other legalities. This can help you foresee your future rights.
Email Address Verification
After completing the signup process, you will receive a verification email from eToro. In the email, click on the verification link. If you don’t see the email in your inbox, check your folder for promotional email and spam box.
Set up your Profile
Once you are done with verifying your email, head back to the eToro website, where you will see a pop up message for selecting your country of residence. After selecting your country, the site will take you to a profile completion page. Enter your usual details here, like first, middle, and last name, gender, and date of birth.
Note: Make sure the details you enter must match to that of your ID card or passport.
Verify your Address
After you have entered your personal information, the next step is to verify your address by typing it manually in the text and box. Also, you have to provide your social security number. After this, there will be a few more steps for the completion of your profile, such as your trading experience, etc.
Step 2: Deposit Funds to eToro Account
Needless to say, to buy Bitcoin on eToro you must deposit some funds in your account. You fund your account using several conventional payment methods, such as credit/debit cards (Mastercard, Visa, Maestro card, or Diners Club), bank transfers, and e-wallets like PayPal. Use the instructions below to top up your eToro account.
To deposit money, follow these steps:
- On the eToro's logged in page, look for “Deposit Funds,” you can find this in the main menu.
- Select your payment method
- Enter your payment information, such as your card details or banking details. For e-wallets like PayPal, you need to log into it for authorizing the transactions.
- Enter the amount you want to deposit. Make sure that the amount you enter is transactable from your bank account or e-wallet.
- Double check your deposit details, such as transaction fee and exchange rates. eToro is exceptionally transparent about applied charges.
- Cross-check all the details and information before clicking the “Deposit” button.
- Based on your selected eToro deposit methods, you may be required to provide verification or added instructions to get done with the depositing process.
Once you are over with the above steps, you will receive a message confirming that your request for deposit has been successfully completed. After this message, your deposited funds will be visible in your eToro dashboard and you will be able to proceed with the Bitcoin purchasing.
Step 3: Place Order to Buy Bitcoin on eToro
Once you have deposited your fund in the account, next you proceed to the core of this matter, i.e how to buy Bitcoin on eToro. eToro has the best interface for the purchasing of Bitcoin. Here is you can proceed with it:
- Head over the homepage of your eToro account.
- Drag your cursor to the search bar, you can find it at the top of the page or you can also access it using the main menu.
- On the search bar, type “BTC” or “Bitcoin” and press enter
- The first result on the page will be “BTC”, when you click on the button “Trade” it will take you to the Bitcoin page.
- Once you are on the Bitcoin page, go to the specific tab and click “Invest.”
- Once reached on the investment page, you will get options to either trade or order.
The “Trade” option allows you to purchase Bitcoin at the current market price. On the contrary, the “Order” option allows you to place a predefined purchase order for eToro automated trading once the Bitcoin value reaches your specified cap.
- Once done with the options trading on etoro, specify the amount of Bitcoin to buy in the order window.
- Carefully check investment amount, fees, and total cost. Real-time rate and fees are shown upfront.
- Two types - Market Order (immediate execution at current price) and Limit Order (buy at specific price, may not execute if price not reached).
- Ensure investment amount, preferences, and details are correct, and fees are okay.
- Click "Buy" when satisfied; eToro will execute based on your input.
FunFact: You can earn eToro signup bonus by Building a diversified portfolio with Bitcoin, Ethereum, and other popular coins, and you will receive a $50 bonus transferred directly to your eToro wallet.
Selling and Withdrawing BTC on eToro.com
Navigating the process of selling, withdrawing, or depositing BTC on eToro requires some clarity. Here's a guide to help you seamlessly manage these actions:
How to Sell on eToro
When you're looking to capitalize on favorable Bitcoin prices, eToro streamlines the process of selling your BTC. The selling procedure mirrors the buying process, making it straightforward to execute.
- Indicate the quantity of Bitcoin you intend to sell, denominated in US dollars, within the order form.
- Locate the 'Sell' option positioned at the top of the form, then proceed by clicking 'Open Trade.'
- This action concludes the sale, allowing you to capitalize on your BTC holdings.
For an in-depth understanding of the selling process, we recommend consulting our comprehensive guide to selling on the eToro platform.
How to Withdraw Bitcoin on eToro
When the time comes to withdraw your Bitcoin from eToro, a sequential approach is essential. Conversion to cash is the initial step, followed by the actual withdrawal process:
- Begin by visiting your portfolio page on eToro.
- Opt for the 'Convert to cash' feature.
- Specify the amount of BTC you wish to convert.
- Choose your preferred currency for conversion, whether it's USD or EUR.
- Execute the conversion by selecting 'Convert.'
Post-conversion, your cash is seamlessly integrated into your eToro account balance. This balance is now poised for withdrawal, providing you with the flexibility to transfer funds to your bank account.
Smoothly navigate the eToro platform by adhering to these guidelines, ensuring you leverage your BTC holdings with ease.
How to Monitor Your Bitcoin Investment on eToro
Managing your investment through eToro is a user-friendly process, and here's how you can monitor and handle your Bitcoin investment effectively:
Accessing Portfolio: Start by logging into your eToro account and heading to the portfolio section. This dedicated area is designed for overseeing your Bitcoin investment and provides crucial insights into your holdings.
Tracking Performance: Inside the portfolio section, you'll have the tools to monitor the present value of your Bitcoin investment, gauge any profit or loss, and observe the percentage shift in value. Moreover, you can access historical price charts, enabling you to assess how your investment has performed over various time spans.
Setting Price Alerts: eToro offers the option to establish price alerts, ensuring you stay informed about Bitcoin's price fluctuations. You have the flexibility to define a target price that, when reached, triggers an alert. These alerts are delivered via email or push notifications, enabling you to stay updated on market movements.
What is the Trading Fees for Bitcoin on eToro
eToro's trading model operates without transaction-specific fees, which can be a significant advantage. However, it's essential to remain mindful of some less apparent fees:
- Inactivity fees may be imposed on dormant accounts that remain inactive for a duration of 12 months.
- Conversion fees are applicable when you exchange one currency for another through the platform.
- Withdrawal fee on etoro is set at a flat rate of $5, with a minimum withdrawal amount of $30.
- Overnight fees, which are relevant to CFD positions.
It's important to note that while fees aren't applicable to non-leveraged buy positions, they are relevant to sell positions, leveraged buy positions, and all cryptocurrency pair positions (for trading between different digital currencies).
Table of Contents
No matter what new cryptocurrencies keep showing up in the market, Bitcoin is the first and will always be one of its kind. It is the digital currency that paved the future for decentralized finance. If you are thinking about investing in Bitcoin, it is a safe haven investment, even today.
Yet, venturing into bitcoin trading can be a bit of a daunting task for the newbies. Luckily, eToro offers a series of straightforward steps for buying Bitcoin using your debit card, PayPal, or your bank account. The procedure includes simple steps like registering on eToro, linking your payment account, and acquiring your first Bitcoin. Do you know how to buy Bitcoin with eToro? If not, keep reading.
What is eToro?
eToro is a popular Israeli crypto, ETC, and stock trading platform founded back in 2007. Moreover, eToro Copy Trading traits let you mimic the experienced trades automatically.
Being a social platform, each trade on eToro learns something from its predecessor, sharing strategies and experiences on the market. It learns the ropes by distinguishing how expert trades behave. Beside this, eToro also offers several educational features for trades of all levels, including paper trading accounts to practice investing with $100,000 of virtual currency.
Once you sign up for an eToro wallet you can use it to securely store, sell, and spend your eToro crypto currencies.
Remember that when you buy Bitcoin without any leverage, let's say 1X, you will buy real Bitcoin instead of Bitcoin CFDs. Every other position will be CFD, i.e leveraged long and short positions in Bitcoin.
You can follow the below steps to sign up for an account, finance it, and purchase Bitcoin using eToro:
- Create an account on eToro using your email, Gmail, or Facebook account by clicking on “Join Now, ” and complete your registration by uploading a picture of your ID, proof of address, and acknowledging the verification email.
- Deposit at least $10 to your eToro PayPal, a debit card, or your bank account.
- Look for Bitcoin using eToro’s user-friendly dashboard, enter how much Bitcoin you want to buy in either BTC value or U.S dollars, and finally, make your purchase by clicking “Open Trade”
Let’s get into the details of the above steps.
Steps for How to Buy Bitcoin on eToro
Step 1 – Set Up Your Account
Setting up your eToro account is the first step to start making trades on eToro. It consists of a few simple and quick steps.
Go to eToro.com
Visit eToro’s official website that is “www.etoro.com” using your internet browser app.
Sign Up for eToro Account
On the landing page you will see a button saying “Join eToro”, click on it and this will take you to the sign up page where you can create your eToro account using email ID, gmail account, or a Facebook account.
Enter Personal Details
Once done with the email and password setting, you will be asked to choose your username. Below it, you will see two check boxes for term and conditions and privacy policy, mark them and click on “Create Account”
Remember: Before marking the check boxes, carefully read eToro’s terms and conditions, and other legalities. This can help you foresee your future rights.
Email Address Verification
After completing the signup process, you will receive a verification email from eToro. In the email, click on the verification link. If you don’t see the email in your inbox, check your folder for promotional email and spam box.
Set up your Profile
Once you are done with verifying your email, head back to the eToro website, where you will see a pop up message for selecting your country of residence. After selecting your country, the site will take you to a profile completion page. Enter your usual details here, like first, middle, and last name, gender, and date of birth.
Note: Make sure the details you enter must match to that of your ID card or passport.
Verify your Address
After you have entered your personal information, the next step is to verify your address by typing it manually in the text and box. Also, you have to provide your social security number. After this, there will be a few more steps for the completion of your profile, such as your trading experience, etc.
Step 2: Deposit Funds to eToro Account
Needless to say, to buy Bitcoin on eToro you must deposit some funds in your account. You fund your account using several conventional payment methods, such as credit/debit cards (Mastercard, Visa, Maestro card, or Diners Club), bank transfers, and e-wallets like PayPal. Use the instructions below to top up your eToro account.
To deposit money, follow these steps:
- On the eToro's logged in page, look for “Deposit Funds,” you can find this in the main menu.
- Select your payment method
- Enter your payment information, such as your card details or banking details. For e-wallets like PayPal, you need to log into it for authorizing the transactions.
- Enter the amount you want to deposit. Make sure that the amount you enter is transactable from your bank account or e-wallet.
- Double check your deposit details, such as transaction fee and exchange rates. eToro is exceptionally transparent about applied charges.
- Cross-check all the details and information before clicking the “Deposit” button.
- Based on your selected eToro deposit methods, you may be required to provide verification or added instructions to get done with the depositing process.
Once you are over with the above steps, you will receive a message confirming that your request for deposit has been successfully completed. After this message, your deposited funds will be visible in your eToro dashboard and you will be able to proceed with the Bitcoin purchasing.
Step 3: Place Order to Buy Bitcoin on eToro
Once you have deposited your fund in the account, next you proceed to the core of this matter, i.e how to buy Bitcoin on eToro. eToro has the best interface for the purchasing of Bitcoin. Here is you can proceed with it:
- Head over the homepage of your eToro account.
- Drag your cursor to the search bar, you can find it at the top of the page or you can also access it using the main menu.
- On the search bar, type “BTC” or “Bitcoin” and press enter
- The first result on the page will be “BTC”, when you click on the button “Trade” it will take you to the Bitcoin page.
- Once you are on the Bitcoin page, go to the specific tab and click “Invest.”
- Once reached on the investment page, you will get options to either trade or order.
The “Trade” option allows you to purchase Bitcoin at the current market price. On the contrary, the “Order” option allows you to place a predefined purchase order for eToro automated trading once the Bitcoin value reaches your specified cap.
- Once done with the options trading on etoro, specify the amount of Bitcoin to buy in the order window.
- Carefully check investment amount, fees, and total cost. Real-time rate and fees are shown upfront.
- Two types - Market Order (immediate execution at current price) and Limit Order (buy at specific price, may not execute if price not reached).
- Ensure investment amount, preferences, and details are correct, and fees are okay.
- Click "Buy" when satisfied; eToro will execute based on your input.
FunFact: You can earn eToro signup bonus by Building a diversified portfolio with Bitcoin, Ethereum, and other popular coins, and you will receive a $50 bonus transferred directly to your eToro wallet.
Selling and Withdrawing BTC on eToro.com
Navigating the process of selling, withdrawing, or depositing BTC on eToro requires some clarity. Here's a guide to help you seamlessly manage these actions:
How to Sell on eToro
When you're looking to capitalize on favorable Bitcoin prices, eToro streamlines the process of selling your BTC. The selling procedure mirrors the buying process, making it straightforward to execute.
- Indicate the quantity of Bitcoin you intend to sell, denominated in US dollars, within the order form.
- Locate the 'Sell' option positioned at the top of the form, then proceed by clicking 'Open Trade.'
- This action concludes the sale, allowing you to capitalize on your BTC holdings.
For an in-depth understanding of the selling process, we recommend consulting our comprehensive guide to selling on the eToro platform.
How to Withdraw Bitcoin on eToro
When the time comes to withdraw your Bitcoin from eToro, a sequential approach is essential. Conversion to cash is the initial step, followed by the actual withdrawal process:
- Begin by visiting your portfolio page on eToro.
- Opt for the 'Convert to cash' feature.
- Specify the amount of BTC you wish to convert.
- Choose your preferred currency for conversion, whether it's USD or EUR.
- Execute the conversion by selecting 'Convert.'
Post-conversion, your cash is seamlessly integrated into your eToro account balance. This balance is now poised for withdrawal, providing you with the flexibility to transfer funds to your bank account.
Smoothly navigate the eToro platform by adhering to these guidelines, ensuring you leverage your BTC holdings with ease.
How to Monitor Your Bitcoin Investment on eToro
Managing your investment through eToro is a user-friendly process, and here's how you can monitor and handle your Bitcoin investment effectively:
Accessing Portfolio: Start by logging into your eToro account and heading to the portfolio section. This dedicated area is designed for overseeing your Bitcoin investment and provides crucial insights into your holdings.
Tracking Performance: Inside the portfolio section, you'll have the tools to monitor the present value of your Bitcoin investment, gauge any profit or loss, and observe the percentage shift in value. Moreover, you can access historical price charts, enabling you to assess how your investment has performed over various time spans.
Setting Price Alerts: eToro offers the option to establish price alerts, ensuring you stay informed about Bitcoin's price fluctuations. You have the flexibility to define a target price that, when reached, triggers an alert. These alerts are delivered via email or push notifications, enabling you to stay updated on market movements.
What is the Trading Fees for Bitcoin on eToro
eToro's trading model operates without transaction-specific fees, which can be a significant advantage. However, it's essential to remain mindful of some less apparent fees:
- Inactivity fees may be imposed on dormant accounts that remain inactive for a duration of 12 months.
- Conversion fees are applicable when you exchange one currency for another through the platform.
- Withdrawal fee on etoro is set at a flat rate of $5, with a minimum withdrawal amount of $30.
- Overnight fees, which are relevant to CFD positions.
It's important to note that while fees aren't applicable to non-leveraged buy positions, they are relevant to sell positions, leveraged buy positions, and all cryptocurrency pair positions (for trading between different digital currencies).
FAQS
eToro offers an effortless way for beginners to buy Bitcoin. You can start buying bitcoin by signup on eToro using your gmail or Facebook account and link your bank, PayPal, or any e-wallet.
To buy Dogecoin on eToro you need to log in your account, search for “DOGE” or “dogecoin” on the search bar. When you see the DOGE crypto currency in the results click on it and you will be redirected to the Dogecoin page, go to the specific tab and click “Invest.” Once you reach the investment page, you will get options to either trade or buy dogecoin.
To buy Ethereum on eToro you need to log into your eToro account and search for “Ethereum” or “ETH” on the search bar. When you see the ETC in the results click on it and it will take you to the ethereum page. On the Ethereum page click on the button “Invest.” Once you reach the Ethereum investment page, you will get the option to either trade ethereum or buy ethereum on eToro.
To buy Tesla stock on eToro, start by creating an account and verifying your identity. Deposit funds into your account using the available methods. Search for Tesla stock using its ticker symbol "TSLA" and choose either a market order or limit order. Specify the quantity of shares you want to buy and review the order details before confirming. Once the order is executed, you'll see the purchased shares in your eToro portfolio.
Account verification on eToro is typically quick, usually taking about 3 business days under normal conditions. However, in instances where a surge of requests is prompted by market developments or other factors, the verification process might extend to a week to ensure thorough processing.
