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eToro is one of the most user-friendly platforms currently available in the market, making it a popular choice for those looking to buy Bitcoin and other cryptocurrencies. Demand for
Bitcoin
0.61%
Bitcoin
BTC
Price
$77,095.27
0.61% /24h
Volume in 24h
$27.18B
Price 7d
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has surged in the past 12 months, ever since the SEC approved the approval of an ETF product by the Securities and Exchange Commission. In addition to Bitcoin, eToro’s asset selection includes over 680 ETFs, 5,500 stocks, and 100+ cryptocurrencies, making it one of the most versatile trading platforms.
In this guide, I’ll walk you through how to create an account and the simple steps to take to buy Bitcoin on eToro. I’ll also explore the security of the platform and what you need to consider when deciding if eToro is right for you.
Before You Buy: Fees, Wallet Transfers, And What “Withdrawing Crypto” Really Means On eToro
When you buy crypto on eToro, the headline trading fee is 1% on the buy and 1% on the sell. On top of that, there’s the spread, which is the small difference between the buy and sell price you see at any moment.
If you want to move your crypto off the eToro trading platform, the usual flow goes through eToro Money first. eToro charges a transfer fee when moving crypto from the eToro investment platform into the eToro Money wallet, and then network fees apply when you send crypto from the wallet to an external address.
Transfers from the platform into the wallet can take time. eToro states the processing time can run up to five business days, so this route suits people who plan ahead rather than anyone trying to move coins out immediately after buying.
How to Buy Bitcoin on eToro: 5 Easy Steps
Okay, so you’ve decided now is the right time to invest in cryptocurrencies, and want to start with the OG crypto: $BTC. To buy Bitcoin on the eToro app all you need to do is follow the steps below. Let’s go through them one by one.
1) Open an eToro Account
To get started you first need to create a eToro account. Simply go onto its official website to begin the process. Once you land on the eToro homepage, click the “Join eToro” button highlighted. Here you’ll have to fill in a questionnaire that includes personal details and info about your trading purposes and history. This should only take a few minutes. Visit eToro
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.
Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk
2) Verify Your eToro Account
Okay, so you have now entered your personal details, and created a username and password, now is the time to go through the Know Your Customer (KYC) process. This is a regulatory requirement all eToro clients must go through. 
Simply submit your ID (Passport or Driver’s license) and proof of address (no older than 3 months). After a review (which can take anywhere between a few minutes to a few days), this will be accepted, and you will receive your live account confirmation. There are, however, no KYC platforms that you can use, but you may be limited in the types of transactions you can carry out.
3) Fund Your Account
After verifying your identity, you will now be able to fund your account. eToro offers various deposit methods. From bank wire transfers to debit or credit card deposits, choose the one that best suits you and the amount you want to deposit. eToro now offers full support for EUR accounts (in addition to GBP and USD), allowing seamless deposits and withdrawals. Choose the currency matching your bank’s account to avoid unnecessary conversion fees. Additionally, eToro charges no withdrawal fees for GBP and EUR accounts, adding further cost advantages for users. 
It’s always important to never invest more than you are willing to lose. There are significant risks involved with trading Bitcoin or any other crypto asset. To deposit just click “Deposit funds” on the screen.
4) Find Bitcoin on eToro
So you have deposited your fiat funds, but how do you buy $BTC on eToro? Simply go to the trading page on the eToro platform and search for Bitcoin. Once on the Bitcoin page, you can select Trade or Order. Trade will allow you to trade one crypto for another, so select Order. Then you will be offered to place either a limit or a market order. Additionally, eToro offers 4.8% interest on unused capital in your account, ensuring that your idle funds still generate returns while you plan your next investment. 
A limit order is when you place a trade for when the price reaches a specific level in the future. A market order allows you to buy at the current market price. Choose the right one for you based on your strategy.
5) Buy Bitcoin
Now that you’ve followed the above steps, all that is left is to place a trade by entering the amount of $BTC you want to buy. You can also choose a stop loss or take profit level. If this is an immediate order, you will see it added to your open positions, with your profit/loss already visible.
Stop-Loss and Take-Profit Levels Explained
A stop-loss limit means that you can set a price (below what you paid) at which it will automatically sell your Bitcoin purchase. This can help limit your loss if the price of Bitcoin goes down significantly. A take-profit limit will set the higher level for the price at which you want to sell your Bitcoin automatically. This is the level at which you are comfortable making a profitable exit. and confirm your position. These two settings can help you reduce your losses and secure your profits automatically when you purchase Bitcoin or other cryptos.
Cost of Buying Bitcoin on the eToro App
Like most major cryptocurrency exchanges, eToro has a competitive fee structure. In addition to the variable spread, which is the difference between the buy and sell price, eToro charges a 1% fee for opening and closing a trade. This is less expensive than Plus500. for example, which adds a 2.50% markup on spreads. Let’s look at the main fees on eToro below.
| Fees | Description |
| Trading Fees | 1% fee for opening/closing trades |
| Inactivity Fees | $10 per month fee after 12 months of inactivity |
| Withdrawal Fees | $5 withdrawal fee |
Is eToro the Best Place to Buy Bitcoin?
So you now understand how to buy Bitcoin on eToro, but is this the best place to trade the world’s largest cryptocurrency? eToro is widely seen as being a safe and secure platform, especially for newcomers to the crypto world. It’s important to note that eToro is at the top of our list of Binance alternatives. After launching in 2007, over 30 million traders have joined eToro. It’s gained popularity for its ease of use, its copy trading platform, and its wide range of instruments. This success has led the company to consider launching an initial public offering (IPO) and listing on a major stock exchange. Let’s go through the major advantages of using eToro over other crypto exchange platforms when purchasing Bitcoin.
Things to Consider Before Buying Bitcoin on eToro
So you’ve seen the main selling points of eToro, however, there are also some other things to consider beyond the benefits of the platform. Let’s take a look at some of the drawbacks of the platform.
Is it Safe to Buy Bitcoin on eToro?
eToro is generally considered a safe platform for buying Bitcoin, especially compared to unregulated exchanges. It is licensed and regulated in several jurisdictions, including CySEC in Cyprus, the FCA in the UK, ASIC in Australia, and FinCEN in the United States. These regulatory bodies require platforms to follow strict rules related to anti-money laundering, customer fund protection, and operational transparency.
Regulators perform rigorous audits and background checks before granting licenses, so the fact that eToro is approved in multiple regions shows a certain level of trustworthiness. For example, in 2023, ASIC (which also oversees eToro) took legal action against Kraken for issues in how it served customers. This highlights how closely these bodies monitor platforms and act when necessary.
On the technical side, eToro uses security features like two-factor authentication (2FA), encryption, and segregated accounts to protect users’ information and funds. However, like any crypto platform, eToro is still exposed to third-party risks such as hacking.
eToro offers a non-custodial hot wallet, the eToro Money crypto wallet, which gives you control over your private keys. Still, since hot wallets are connected to the internet, they are more vulnerable to cyberattacks. For this reason, many users prefer to move their Bitcoin to a cold wallet, such as a Ledger or Trezor device. Cold wallets store your crypto offline, making them much harder for hackers to target.
How to Sell Bitcoin on eToro
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Sign in to Your eToro Account
Log into your eToro account through the website or mobile app using your credentials.
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Locate Bitcoin in Your Portfolio
Go to your portfolio and find your Bitcoin ($BTC) position. Click on it to view the details of your investment.
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Click on ‘Sell’
Press the ‘Sell’ button next to your Bitcoin holding. A window will appear asking how much of your investment you want to sell.
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Confirm Your Order
Review the transaction details, including the amount, current market price, and any applicable fees. Once everything looks good, click ‘Confirm’ to execute the sale.
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Withdraw Your Funds
After the sale is completed, the money will appear in your available balance. You can now either withdraw the funds to your bank account or use them to invest in other assets on eToro.
Staking On eToro (And The EU Opt-In Update)
eToro offers crypto staking on supported assets, with rewards shown inside your account when eligible.
In the EU, staking uses an opt-in flow due to MiCA-related requirements, so you’ll need to actively enable it in-app before rewards apply. In other regions, staking may apply automatically on supported assets, depending on local rules and the specific asset.
Conclusion
eToro is an easy-to-use platform that attracts a lot of newcomers into the crypto market. It is a popular choice to buy Bitcoin due to its security, competitive fees, and also its unique features such as copy trading. Bitcoin has been the best investment of the last decade and looks poised to repeat that performance over the course of the next decade. Now might be the time for you to check out eToro and think about buying Bitcoin.
Although all of these advantages can make it appealing to use eToro, it is smart to consider all options and do your own research before deciding which platform to use.
Disclaimer:
eToro is a multi-asset platform offering investment in stocks, cryptoassets, and CFD trading.
CFDs are high-risk instruments; 52% of retail investors lose money due to leverage. Make sure you understand the risks before trading.
Copy Trading is not investment advice. Investments can go up or down. Your capital is at risk.
Only invest if you're prepared to lose all your money. This is a high-risk investment.
eToro USA LLC does not offer CFDs and is not responsible for the content provided, which is based on publicly available information.
See Also: What are Bitcoin ETFs?
FAQs
Is eToro safe for buying Bitcoin?
Yes, eToro is a regulated and secure platform that provides security features like 2FA. The eToro trading platform is regulated by the FCA, ASIC, and FinCEN in the United States
What fees does eToro charge for buying Bitcoin?
eToro charges a 1% for opening and closing orders on $BTC. There is also a withdrawal fee of $5, and a $10 monthly inactivity fee after a year without trading.
Can I store my Bitcoin on eToro?
Yes, eToro offers the eToro Money wallet for storing Bitcoin. However, for better security, many recommend transferring your Bitcoin from your eToro wallet to an external cold wallet.
How do I sell Bitcoin on eToro?
You can easily sell Bitcoin on eToro by going to your portfolio, selecting Bitcoin, and following the prompts to sell.
References
- Fast KYC onboarding exposes clients to hackers (Reuters)
- eToro is considering filing an IPO (CNBC)
- ASIC wins lawsuit against Kraken (Reuters)
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