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Can you buy Bitcoins on eToro? Yes, and here’s how

eToro is a well-established international brokerage that offers zero-commission stock trading and a rich selection of cryptocurrencies. In fact, the brokerage was one of the pioneers of crypto trading in the industry when it started supporting Bitcoin (BTC) as early as 2014. 

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Your capital is at risk

Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

Bitcoin, the first cryptocurrency launched in 2008, is still synonymous with ‘digital gold” for many in the crypto universe. As all cryptos, Bitcoin is fully decentralized, meaning people can send it directly without an intermediary such as a bank on a  peer-to-peer bitcoin network. In addition to using it as a means of payment (where accepted), you can also use Bitcoin as a trading asset and eToro offers a great trading platform to do so.
 

How to buy Bitcoin on eToro

 

Buying and selling Bitcoin on eToro is as simple as investing in a stock. Here’s what you need to do: 

  1. Open an account with eToro or log in to the platform if you already have one
  2. Go to the cryptocurrency page and select Bitcoin or use the search bar
  3. You’ll then have two options: Trade or Order. 
    - Trade: buy a specified amount of Bitcoin at the current price.
    Order: set a BTC price target and number of coins to purchase. Your order is executed once the price hits your target.
  4. Choose the amount you’d like to buy and hit “Deposit”. The system will only accept your order if you have an approved profile, in other words you provided proof of your identity and address.
  5. Select your deposit method and deposit the necessary funds to execute the transaction
  6. Congrats, you are now officially a Bitcoin trader with eToro

At eToro , you can purchase Bitcoin fractionally, so you don’t need to buy a full Bitcoin to own some. For example, if Bitcoin’s price is $10,000, you can purchase 0.1 Bitcoin for $1,000.

There is a wide range of deposit methods at eToro and along the traditional ones such as bank transfers and bank card deposits, you will be able to use a plethora of digital wallets and alternative service providers to deposit funds. The latter include:

  1. Paypal
  2. Neteller
  3. Skrill
  4. Rapid Transfer
  5. iDeal
  6. Klarna / Sofort Banking

 

Bitcoin trading fees at eToro 

 

eToro prides itself as being a low-fee and transparent broker. The most important charge you need calculate with when buying Bitcoin on eToro is a fee of 1% that the broker charges for buying or selling crypto. 

The fee is included in the price the broker displays when you open and close a position. Cryptoasset prices are generally based on orders made on the crypto exchange operated by eToro X Limited (eToroX).

As soon as you open a new position, you will see a “loss” in the position. This is the fee: the 1% cost of buying the Bitcoin, and the 1% expected cost of selling the same asset. When you close the position, the selling fee is adjusted to reflect the market price of the cryptoasset at that time.

The 1% fee is added to the market price or in other words to the bid-ask spread. At the time of writing, the Bitcoin spread was 0.75%. 

Finally, keep in mind that eToro charges an inactivity fee of $10 per month after one year of inactivity. It’s enough to log into your account to avoid having to pay this fee. 


Benefits of trading Bitcoin on eToro

 

In addition to a highly intuitive and easy-to-use platform and award-winning social trading features, eToro offers a range of other services that make trading a more rewarding experience. Here are just a few:

  • Advanced charts and analysis tools to follow Bitcoin trends 
  • Custom Watchlist and stay informed with real-time updates
  • Real-time and free insights into the latest crypto market research & news
  • Risk management tools such as Stop Loss and Take Profit parameters to protect your investments
  • Crypto wallet to store and spend your Bitcoin as you please
  • Demo account that allows you to try out the features and practice crypto trading with $100K

Check out our detailed guide to crypto trading on eToro for more information on  how you can become a confident trader of virtual currencies.

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Your capital is at risk

Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

Risk disclaimer

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.

Copy trading is a portfolio management service, provided by eToro (Europe) Ltd., which is authorised and regulated by the Cyprus Securities and Exchange Commission.

Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.

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Author of this article

Edith Balázs

Author of this article

Edith is an experienced financial journalist having worked for 15+ years as a correspondent for Bloomberg, Dow Jones and The Wall Street Journal covering macroeconomics, stock, currency and fixed income markets. She holds a master's degree in American Studies and Journalism.

Edith Balázs

Senior Editor

Edith is an experienced financial journalist having worked for 15+ years as a correspondent for Bloomberg, Dow Jones and The Wall Street Journal covering macroeconomics, stock, currency and fixed income markets. She holds a master's degree in American Studies and Journalism.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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