How to buy Bitcoin on eToro?

If you want to buy Bitcoin, eToro is a pretty convenient, easy, and safe platform to buy it on. There are two useful and simple buying methods and thousands of markets that sell Bitcoin. It is safe to say that you will get what your money is worth. Also, eToro is a great crypto trading platform that lets you purchase multiple types of currencies.

So, whether you want to trade, buy, hold, invest, or sell, eToro can be your place for all that related to crypto. But how do you start? Here is a step-by-step process to help you out.

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How To Buy Bitcoin On Etoro? A 6 Steps Guide

If you are looking for a tutorial of some sort, then follow this step-by-step guide for buying Bitcoin on eToro. This is your guide to buying Bitcoin on eToro in 2024.

1. Create An eToro Account

First, you have to sign up for an eToro account. Wondering how to create an account on eToro? Actually, it is pretty simple.

First, you have to go to their website. There should be a Sign-Up option. Click on it. This should take you to a page where you have to provide your email address. Following that, create a username and protect the account with a unique password. Now, agree to the terms and conditions and hit the “Create Account” button.

Yes, they will require a little more information from you. For example, your residential address, telephone number, local tax ID, etc. Also, US citizens have to provide their social security numbers. For UK users, it is the national insurance number. That’s it. Now, you are all set to use eToro.

2. Complete Your KYC

How to buy Bitcoin on Etoro? Before I give you an answer to that, you must complete your KYC ( Know Your Customer). eToro is maintained by top tire bodies like FINRA. One of the industry standards for secure Cryptocurrency transactions is to get yourself verified on such platforms.

So, eToro will require you to upload an ID (government-issued) like a passport, state ID card, or driver’s license. eToro makes it mandatory to upload the documents within three months of opening the account.

Also, they accept a wide variety of documents that include your utility bills, credit card statements, or an official housing agreement. No matter which document you upload, ensure those are real. Also, ensure that you upload only high-resolution soft copies.

3. Make A Deposit

Before you start buying cryptocurrencies on eToro, you have to make some deposits. Both Coinbase and Binance offer an “instant buy” option, which is missing on eToro. However, there is a wide range of payment methods to suit your needs. It starts with a variety of credit and debit cards.

Yes, they accept MasterCard, Visa, or Maestro. But remember, they do not accept american express. But they do accept eWallets like PayPal, Skrill, and Neteller.

All you have to do is select your currency and a preferred type of payment. This will get you going.

4. Search for Bitcoin

So, you are done making a deposit on eToro? If so, let’s buy some Bitcoin. There is a search bar you can use to look for the Bitcoin you want to buy. The platform supports thousands of markets. So, if you use the search bar, you will find your Bitcoin.

Once you type in Bitcoin and hit the search button, you will see the top results. The search bar will also provide you with a wide range of research data. You will see data such as sell-side analyst ratings, social indicators, and pricing charts of Bitcoin. Wait, do you want to go straight to the trading page? If yes, let’s click on the “Trade” option.

5. How To Buy Bitcoin On Etoro? Set Up Your Order

Well, if you have followed all the steps perfectly, you should be able to see an order box. This order box lets you buy your Bitcoin. Wait, there are more. You have multiple customization options when it comes to buying Bitcoin on eToro. For example, you can choose a coin from a ‘Market,’ or you can go for ‘Limit’ orders.

Buying Bitcoin through eToro Limit orders is fun. Here, you set the price for the Bitcoin you want to buy from the market. Currently, Bitcoin is trading at the price of $42,255. You can set your price at $41000 ( for example). This is the limit you set. You will buy the Bitcoin at this price only. So, the order will remain pending as long as the seller decides to sell it.

But, if you are okay with buying Bitcoin at the current market price, then follow the Market order buying option. People wanting to buy and hold Bitcoin for a long time can go for the Market option.

eToro lets you buy fractions of Bitcoin. There is no need to spend your entire savings and buy one Bitcoin. Instead, you can start from any amount above $10. There is a section allowing you to set your investment amount when it comes to buying Bitcoin.

6. Set Up Your eToro Bitcoin Wallet

Well, now you are ready to buy and store your Bitcoin. But before you decide to sell your Bitcoin, you need a wallet to store it. eToro provides you with a custodial web wallet storage for the Bitcoin you just bought. But you can choose to open a wallet elsewhere and hold it. Thankfully, Bitcoin also offers a wallet app that is quite secure and easy to use.

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How Do You Send Bitcoin To The Etoro Wallet App?

So, you want to transfer the Bitcoin over to the eToro wallet app. Here are some steps you can follow.

1. First, select the Portfolio Button Via the eToro dashboard.
2. Click on Bitcoin and then on ‘Edit Trade.’
3. Next, you will see an option reading “Transfer to eToro Money Wallet.” Click on this button, and it will let you complete the transfer.

Bottom Line  

Aside from all the different options for trading, eToro also provides lots of tools, charts, and insights. If you want to grow your knowledge in crypto investment, this platform can help you through a great experience. It makes it simple to both buy and sell cryptocurrencies.

So, how do you buy Bitcoin on eToro? Hopefully, you have found the answer you were looking for. Let us know if you need any further help regarding this.

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