Bitcoin is one of the most popular decentralized digital currencies that was created in 2008 by an unknown group of people using the pseudonym “Satoshi Nakamoto”. Bitcoin is designed to enable peer-to-peer transactions without the need for intermediaries like governments or banks. Bitcoin is based on blockchain technology and has a limited token supply of 21 million BTC.
Bitcoin has gained significant attention and adoption over the years, with many individuals and businesses using BTC as a primary payment or as a store of value. As we found on CoinMarketCap, Bitcoin ranks in first position by a market cap of $565 billion and is listed on many trusted crypto exchange platforms.
With increasing popularity and growing acceptance have made it an attractive investment asset. If you are looking to buy Bitcoin on eToro, this guide will provide you with step-by-step instructions on how to purchase Bitcoin on eToro quickly and securely. eToro is one of the most popular trading platforms where users can buy and sell Bitcoin or any crypto with ease.
How to buy Bitcoin on eToro: Complete guide
Bitcoin has taken the world by storm over the past decade and its popularity has grown exponentially. As a result, many people are looking to invest in Bitcoin for the long term. eToro is among the most popular platforms for buying Bitcoin. In this article, we’ll walk you through the process of buying Bitcoin on eToro in 2023.
1. Sign up for an eToro Account
The first step to buying Bitcoin on eToro is to create a free account on eToro. Creating an account on eToro is simple and straightforward, so simply visit the eToro website and click on the “Start Investing” button. You will need to provide your personal information, such as your name, email address, and phone number. Once you’ve submitted all this information, eToro will send you an email for verification. Then, you can click on the email to verify your account.
2. Verify Your Identity
To comply with regulations, the eToro platform requires that you verify your identity before you can start trading. To do this, click on the “Complete Your Profile” button in the top right-hand corner of the screen. Now, you can upload a clear copy of your government-issued ID and address. Once you’ve uploaded these documents, the eToro team will review your documents and will send you an email within 24 hours.
3. Deposit Funds into Your Account
Before you can start buying Bitcoin on eToro, you will need to add funds to your eToro account with a minimum deposit of $10. To do this, click on the “Deposit Funds” button on the left-hand side of the screen. eToro offers several deposit options, including credit/debit cards, bank transfers, PayPal, Neteller, or Skrill. Choose the payment method that is most convenient for you and follow the instructions to complete the transaction.
4. Search for Bitcoin on eToro
Now, you can find a search bar on the eToro platform’s homepage dashboard. Then, simply enter “Bitcoin” or “BTC” and click on Trade, which will open a new order form.
5. Buy Bitcoin on eToro
Now, you can enter the amount of Bitcoin that you want to purchase in US dollars. The eToro platform allows you to buy either a market order or a limit order. A market order will execute your trade at the current market price, while a limit order allows you to set a specific price at which you want to buy Bitcoin. Once you’ve entered the amount, click on the “Open Trade” button to complete the transaction.
Also Read: How to Buy Ethereum on eToro in 2023
Why Buy Bitcoin (BTC) on eToro?
eToro is a popular trading platform for users looking to buy Bitcoin and other crypto assets. Buying Bitcoin on eToro is fast, secure, and simple. Additionally, eToro is one of the most secure crypto exchanges and provides users with strong security measures to protect their funds. Here are several reasons why eToro could be a good option for buying and selling Bitcoin:
- Low Fees: eToro only charges a 1% fee for buying and 1% for selling Bitcoin.
- Variety of Payment Methods: eToro accepts a variety of payment methods, including debit/credit cards, bank transfers, PayPal, Neteller, and Skrill.
- Easy to Use: The eToro platform is user-friendly and easy to use, so it’s ideal for beginner traders.
- Bitcoin Copy Trading: eToro also allows you to copy other successful traders, which can be a great way to learn and make money in the process.
- Highly Regulated: eToro is regulated by the Cyprus Securities and Exchange Commission (Cyprus SEC) and the Financial Conduct Authority (FCA), which means that it meets all of the necessary requirements to protect your funds.
- Demo trading: Get an eToro Practice Account to test your trading technique with dummy money before you spend real money on cryptocurrencies.
- 24/7 Customer Support: eToro also offers customer support 24 hours a day, 7 days a week. This means that if you ever have any questions or issues, you can easily get in touch with their customer service team.
How to Sell Bitcoin on eToro?
To sell your Bitcoin on eToro, you can follow the same steps as to buy it. After you have opened a new order form, you can select Sell. Now, enter the amount of Bitcoin you want to sell and click on Close Trade.
However, If you’re a beginner and want to sell your Bitcoin on eToro, then follow the below steps:
- Log in to your eToro account.
- Click on your “Portfolio.” Here you will find all of your crypto holdings.
- Select Bitcoin in the list of your digital assets.
- Click on the “Sell” button next to Bitcoin.
- In the pop-up window, enter the amount of Bitcoin you want to sell.
- Review the order and click the “Close Trade” button to confirm the transaction.
What are the Fees for Buying Bitcoin on eToro?
On eToro, you can trade Bitcoin without worrying about unexpected or hidden fees. Generally, the eToro platform charges a fixed fee of 1% of the total transaction amount for buying and selling, with no other fees for deposits or withdrawals.
Overall, the eToro platform is secure, reliable, and offers low fees that are easy to understand. With its user-friendly interface and advanced trading tools, it is one of the most trusted crypto exchanges in the world, making it an ideal option for both beginner and experienced investors.
Also Read: Bitcoin (BTC) Price Prediction
Benefits of trading Bitcoin on eToro
In addition to its award-winning social trading features and extremely simple interface, the eToro provides a range of other services that make trading more enjoyable and profitable. Below are just a few:
- Create a custom watchlist and receive real-time updates.
- Advanced analysis tools and charts to follow Bitcoin trends.
- Copy the trades of other successful traders.
- Enjoy leverage trading up to 1:5 for select assets, including Bitcoin.
- Access a variety of market insights and analytics tools.
- Demo account that gives you $100k to practice your trading techniques and try out platform features.
- Receive personalized customer support 24/7.
Buying Bitcoin on eToro is an easy and secure way to invest in the cryptocurrency. With its low fees, variety of payment methods and customer support team, eToro offers a safe environment for buying Bitcoin. Whether you’re a new investor or an experienced trader, eToro is a great platform to get started on your cryptocurrency journey.
However, it is important to always remember that cryptocurrency investing is a risk, so be sure to only invest what you can afford. Also, do your own research, analysis, and proper risk management before making any investment decisions in any cryptocurrencies.
Frequently Asked Questions
Is Bitcoin available on eToro?
Yes, Bitcoin is available to buy on eToro. eToro is a popular online trading platform that offers a selection of 80+ Coins on the platform including Bitcoin.
Do I need to be an experienced trader to use eToro?
No, eToro is designed to be user-friendly, and even beginners can start trading with simple steps.
What payment methods does eToro accept?
eToro platform accepts a variety of payment methods, including credit/debit cards, bank transfers, PayPal, and Neteller.
Is eToro a safe platform to buy Bitcoin?
Yes, eToro is a secure exchange platform for buying, selling, and trading Bitcoin or any other cryptocurrencies.
Can I store my Bitcoin on eToro?
Yes, you can store your Bitcoin in your eToro wallet or transfer it to an external wallet like MetaMask or Trust wallet.
Can I buy Bitcoin with leverage on eToro?
Yes. eToro allows its users to buy Bitcoin with a leverage of up to x2. Leverage trading involves taking on higher risk, but it also increases potential profits. So, it is important to exercise caution when trading with leverage and understand the risks associated with it.
How do I contact eToro customer support?
You can contact eToro customer support through their website, email, or social media channels.