Buying Bitcoin on eToro: Beginner Guide
As the world’s first and most popular cryptocurrency, Bitcoin has seen immense growth and mainstream adoption in recent years. If you’re looking to join the crypto revolution and buy Bitcoin, eToro is an excellent platform to get started. Here’s a step-by-step guide on how to buy Bitcoin on eToro.
Getting Started on eToro
Before purchasing any cryptocurrencies, you’ll first need to create an eToro account. The signup process is straightforward – simply provide some basic personal information, verify your identity, and set up two-factor authentication for enhanced security.
Once logged in, you’ll be prompted to fund your eToro account using one of the accepted payment methods like credit/debit card, bank transfer, PayPal, or various e-wallets. The minimum deposit amount is $200 for most countries.
How to Buy Bitcoin on eToro
With your eToro account funded, you’re now ready to purchase Bitcoin. Here are the simple steps:
- Find Bitcoin
From your eToro dashboard, search for “Bitcoin” or “BTC” in the search bar at the top. Bitcoin should appear as the first result. - Click “Trade”
Clicking the “Trade” button will open a new order window with live Bitcoin pricing and an order form. - Enter Order Details
In the order form, enter the amount of USD you wish to invest in Bitcoin. Alternatively, you can specify the Bitcoin amount and let eToro calculate the USD cost.
You can also utilize eToro’s helpful tools like placing a stop-loss to automatically sell if Bitcoin drops to a certain price. Additionally, you can enable eToro’s CopyTrader feature to replicate the portfolio of a successful Bitcoin trader.
- Review and Place Order
Once you’ve entered your desired Bitcoin investment amount, take a moment to review the order details like price, fees, and total purchase cost. If everything looks correct, check the box to accept eToro’s terms and conditions, then click “Open Trade” to execute the Bitcoin purchase.
That’s it – you’ve successfully bought Bitcoin on eToro! Your new crypto will be visible in your eToro portfolio.
Buying Bitcoin on eToro: The Benefits
There are many reasons why beginners choose eToro as their platform for buying Bitcoin and other cryptocurrencies:
User-Friendly
eToro has one of the most straightforward, beginner-friendly interfaces and account setups compared to other crypto exchanges. It’s perfect for those new to Bitcoin.
Regulated & Secure
As a highly regulated broker, eToro places a heavy emphasis on security, user protection, and transparency that gives investors peace of mind.
Social Trading Features
Unique to eToro is its social trading network that allows users to discuss strategies, follow popular traders, and copy successful investors’ portfolios.
Low Fees
eToro charges relatively low fees, especially for crypto traders – just 1% for buying or selling Bitcoin with additional spread fees.
Fractional Bitcoin Purchasing
eToro allows you to buy as little as $25 worth of Bitcoin rather than having to purchase a full coin, lowering the barrier to entry.
With its simple user experience, extensive regulatory oversight, and innovative social trading tools, eToro stands out as an excellent platform for both beginners and experienced traders to buy Bitcoin and other top cryptocurrencies. Follow this easy guide, and you’ll be adding Bitcoin to your portfolio in no time.