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Crypto trading on eToro: a detailed guide

eToro is a multi-asset brokerage and social trading platform based in the U.K. While crypto trading is not its primary focus, eToro has a rich portfolio of coins you can trade. In addition, the user-friendly and intuitive trading platforms at eToro make buying and selling crypto a more rewarding experience. 

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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.

With eToro you can buy and sell the most popular cryptocurrencies such as Bitcoin, Ethereum, Bitcoin Cash, XRP, and more. Once you are in possession of your cryptocurrency, you can then use the eToro wallet to securely store your coins until you are ready to sell it, spend it, or send it to a friend. You can also make use of the eToro social trading features that allow you to connect with millions of users worldwide and find top-performing crypto traders to copy with CopyTrader.

A word of advice. Although being a crypto investor is all the rage these days, it makes sense to tread with caution. Prices can fluctuate widely and the crypto industry is not supervised by any regulatory body. Consequently, if you trade coins on eToro (or any other platform that allows it), you will not be eligible for investor protection. 

TABLE OF CONTENTS 

  1. eToro crypto selection
  2. Crypto fees at eToro
  3. Crypto transfer at eToro
  4. eToro vs Coinbase
  5. eToro vs Binance

 

eToro crypto selection

 

At eToro , clients can trade 35+ different coins, 14 crypto crosses (like ETH/BTC) and 63 non-USD currency crosses (like LTC/AUD). 

eToro offers the following methods to trade and own cryptocurrencies: crypto CFDs, spot crypto, crypto exchange (eToroX) and crypto wallet. Nevertheless, not every method is available in every country. Check out our spreadsheet for a detailed breakdown of which crypto product is available in your country.

The general rule of thumb at eToro is that when you go long in any virtual currency, you will own the real coin. When you go short, it is a CFD. As with any rule, there are exceptions. For example, US residents can only go long on the real coin; trading CFDs and therefore going short on cryptocurrencies is not allowed.

eToro crypto selection
Cryptos as real assets (for non-US residents) Cryptos as CFDs (for non-US residents) Cryptos as real assets (for US residents)

AAVE

ADA

AAVE

ADA

BCH

ADA

ALGO

BNB

ALGO

BAT

BTC

BAT

BCH

DASH

BCH

BNB

DOGE

BTC

BTC

EOS

COMP

COMP

ETC

DASH

DASH

ETH

DOGE

DOGE

LINK

EOS

EOS

LTC

ETC

ETC

MIOTA

Ethereum

ETH

NEO

LINK

LINK

TRX

LTC

LTC

UNI

MANA

MANA

XLM

MATIC

MATIC

XRP

MIOTA

MIOTA

XTZ

NEO

NEO

ZEC

TRX

TRX

 

UNI

UNI

 

XLM

XLM

 

XTZ

XRP

 

YFI

XTZ

 

ZEC

YFI

   

ZEC

   

If you open a non-leveraged long position in any cryptocurrency (meaning you only use your own funds to trade and do not borrow from the broker), you will trade the real asset and not CFDs. 

Buy Bitcoins with eToro

eToro is one of the pioneers of Bitcoin trading in the brokerage industry. Check out our detailed guide on how to buy and sell Bitcoin on the eToro platform. 

Does eToro have Dogecoin? 

Yes, eToro clients have access to Dogecoin as the brokler added it to its portfolio of products in May 2021. Dogecoin is featured under the DOGE ticker in the eToro app. Besides trading, you can reach a plethora of information on Dogecoin on the eToro platform, including prices, statistics, charts and research tools. 

eToro and XRP

XRP, founded by Ripple Labs in 2012, is one of the many digital currencies you can trade at eToro. XRP is sold and traded in the form of XRP tokens. With its decentralized blockchain technology, XRP claims to be able to complete a transaction in an average of 3 to 5 seconds. The usual spread cost of trading XRP is around 2.45% at eToro. The live price of XRP,  quoted in US dollars (XRP/USD) can be checked on eToro’s page under: https://www.etoro.com/markets/xrp

eToro and Shiba Inu

The Shiba token was launched as an alternative for the popular meme coin, Dogecoin, in 2020. You can trade Shiba Inu coins on eToro under the symbol SHIBxM. 

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Crypto fees at eToro

 

eToro has quite high fees for crypto trading: there is a 1% mark-up built into the crypto asset's price.

On the other hand, crypto deposits at eToro are free of charge and there is a $10,000 daily limit for withdrawals for all currencies. Transactions higher than this amount are screened by the broker, and the process takes up to 24 hours on weekdays and up to 72 hours on weekends. 

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. 

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Crypto transfer at eToro 

 

eToro launched its own crypto wallet called eToro Money. Read our in-depth guide on how to transfer your crypto assets to eToro Money, the requirements for successfully initiating a transfer and the fees asscociated with the transaction. 

 

eToro vs Coinbase

 

If the question is whether you can trade crypto on both Coinbase and eToro , the answer is yes. Both are popular trading apps among cryptocurrency investors with easy-to-use platforms and access to a wide range of crypto assets. However, there are considerable differences between the two. Here are some of the most crucial aspects to consider. 

  • Coinbase supports a much wider range of coins (70 at Coinbase vs 37 at eToro)
  • Coinbase can be more expensive, especially for credit card purchases (Coinbase: 0.50% per trade, 3.99% for credit card purchases, 1.49% for Coinbase wallet or bank account purchases, and wire transfers are $10 for deposit and $25 for withdrawal; eToro: $5 withdrawal fee, varying spreads on trades, $10 monthly fee after a year of inactivity, conversion fees for non-USD deposits and withdrawals) 
  • Coinbase only offers virtual currencies while at eToro you can also trade stocks, forex, CFDs and ETFs

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eToro vs Binance

 

In terms of volume, Binance is one of the largest cryptocurrency exchanges in the world. Check out our detailed article on how eToro compares to Binance in terms of available cryptos, fees and services. 

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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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