Launched in 2009 by creator Satoshi Nakamoto, Bitcoin became the world’s first decentralized cryptocurrency. BTC is a cryptocurrency, basically, a virtual currency that is designed to act as money and a form of payment outside the control of any one group, person, or entity. Removing the need for involvement of a third party in financial transactions. Today, we will give you a step-by-step guide on how to buy Bitcoin on eToro.
How to buy Bitcoin on eToro? Before answering your question, we will first delve into the other important aspects of this blog which are essential for you to know.
What Is eToro?
eToro is a social investment multi-asset brokerage company with ten offices worldwide, including UK, Australia, US, Cyprus, and Israel centers. It is a famous crypto trading platform allowing clients to buy and sell stocks and exchange-traded funds. Also, there are several ways on how to buy Bitcoin on eToro, which we will discuss within some time.
Acknowledged as one of the top platforms for beginners, this platform offers a demo account that allows new investors to exercise with an account representing $100,00. Also, they can practice buying cryptocurrencies, stocks, and ETFs and watch their performance over time without risking a penny. Now, you must be wondering how to buy Bitcoin on eToro; read the article to understand this question.
How To Create An Account On eToro?
How to buy Bitcoin on eToro? Before buying Bitcoin, it is necessary to open a new eToro investment account. You only have to follow some simple steps, which are mentioned below:
- Go to the ‘Join Now’ page of eToro.
- Select a username, type your email address, and set a passcode/password.
- You can also sign up with your Facebook or Google accounts.
- Read and accept all the terms and conditions, cookies, and privacy policies.
- Choose the “Create Account” button.
- Check your mail and verify your email address.
- ENJOY your eToro investment account.
How to Created an accound on eToro
How To Buy Bitcoin on eToro: Here is How to Get Started
How to buy Bitcoin on eToro for the first time? We will share the step-by-step guide for buying Bitcoin for the first time. Follow the steps below if you are starting your journey to buy Bitcoin for the first time and If you want to know what is bitcoin?
Three Steps To Buy Bitcoin For The First Time:
- Finding A Crypto Exchange That Will Offer Bitcoin: Several exchanges will let you trade your funds for Bitcoin. One of them undoubtedly is eToro.
- Signing Up: If you want to buy Bitcoin through eToro, you only need to sign up. The next step is to link your bank and transfer the funds into your eToro account, which you previously created. Now, you can easily sell and buy Bitcoin.
- Buy Bitcoin: You can purchase Bitcoin fractionally, which means you do not need to buy a whole Bitcoin to own some of them. Just an example, if Bitcoin costs $10,000, you can buy 0.1 Bitcoin for $1,000.
How to Buy Bitcoin on eToro Using PayPal?
How to buy Bitcoin on eToro using PayPal? Follow the simple steps below to help you buy Bitcoins using PayPal:
- Log in to your already-created account on eToro.
- Go straight to the cryptocurrency page and choose Bitcoin, or you can also use the search bar.
- You will be given two options: Order or Trade.
Order: Set a target for Bitcoin price and number of coins to buy. Once the price hits the target, your order will be executed.
Trade: Buy a particular amount of Bitcoin at the recent or current price.
Select the amount you want to purchase and select the “Deposit” button. Additionally, you will need an approved and complete profile to carry out the order. This also means that you will have to provide proof of your address and your identity. Lastly, select PayPal as the deposit method.
Benefits Of Buying Bitcoin With PayPal
There are some notable benefits of buying Bitcoin with PayPal:
- Easily Accessible and High Liquidity: The Bitcoin market has high liquidity and is also easily accessible. There will not be any moment when you can’t trade or buy it, which is not true of all cryptos.
- Proven and Established: In 2008, the Whitepaper for Bitcoin was written; since 2009, its blockchain has been running. This also typically means that the cryptocurrency’s technology is very well-established. So, if you will trade crypto, using what has proven real-world utility is essential.
- Stable and Safe: For over a decade, the blockchain has been running without any fault. This is one of the main reasons Bitcoin is more reliable than many newer cryptos.
How To Buy Bitcoin On eToro With A Debit Card?
How to buy Bitcoin on eToro with a Debit Card? If you are also wondering about the same question, don’t worry; we have the perfect solution. Follow the steps below to have a clear understanding:
Three Steps On How To Buy Bitcoin On eToro With A Debit Card:
- Registration: Go to the eToro website and register yourself to create an account.
- Link The Debit Card: After fully registering your account, the next step is to link your debit card. If you want to buy another Bitcoin debit card later, don’t worry because eToro will safely and securely store your information later.
- Buy Bitcoin: Go to the Bitcoin page and choose “BUY”. You can manually enter how much Bitcoin you want to buy in BTC or dollars. Also, as mentioned above, you don’t need to buy an entire Bitcoin. When ready, choose the “Open Trade” option, and the Bitcoin will appear in your eToro account.
Benefits of Buying Bitcoin With A Debit Card With eToro:
- There is nonstop Bitcoin trading, 365 days a year, seven days a week, and 24 hours a day.
- Quick and straightforward transactions.
- A mobile app is also available.
- Features like two-factor authentication and SSL encryption to keep your funds safe and secure.
- Compared to the other exchanges, this has low-cost and transparent transaction fees.
- Various withdrawal and deposit options are available.
How To Buy Bitcoin On eToro With A Bank Account?
If you want to invest your Bitcoin with your bank account, eToro has a perfect solution. With just three simple steps, you can buy Bitcoin with a US bank account:
- Create and register to your eToro account: How to buy Bitcoin on eToro with your bank account? Creating an account is the first step that you need to take.
- Link your bank account and deposit: Link your eToro account to your bank account. Now, you can request a funds transfer from your bank account to your eToro account.
- Buy: Choose the “Buy” button next to BTC (Bitcoin), then choose how much you would like to own (in dollars or units). Select ‘Open Trade,’ and your purchased Bitcoin will appear in your portfolio.
Benefits Of Buying And Owning Bitcoin:
- You can receive and send payments or transactions outside traditional banking business hours.
- You can save money with competitive transaction fees for large trading volumes and also for a single bitcoin.
- With heavily encrypted transactions, you are always safe and secure.
- You can enjoy Bitcoin’s evolving acceptance as a currency.
- Liquidity in your Bitcoin wallet.
- Also, it adds diversity to investment portfolios.
How To Buy Bitcoin On eToro?
- Select the ‘Join Now’ option on the eToro website and create your account using your Facebook or Google account. You can also use your email address to create an account.
- Complete your profile by following the instructions.
- Upload proof to your address and a photo ID, and wait until your account is verified through email.
- Fund your account through a Bank Account, PayPal, or a Debit Card.
- To begin trading, you must deposit at least $10.
- Through the eToro dashboard, search for Bitcoin.
- Enter the value of Bitcoin you want to buy in US dollars.
- Choose “Open Trade” to make a purchase.
Why Buy Bitcoin On eToro?
In the above article, we have already mentioned how to buy Bitcoin with eToro using different methods. But it is also vital to know why buy Bitcoin on eToro. There are some notable reasons why you should buy Bitcoin on eToro.
- Buying Bitcoin on eToro is cheaper than other exchanges because they take zero commissions and also no hidden fees.
- They provide a virtual portfolio in which you will be provided with $100k fake money. You can try it before investing in Bitcoin.
- This platform provides learning from the other fellow traders. The social feed is an excellent technique for asking questions and learning how other traders approach the crypto market.
- If you are a beginner, this platform will be the perfect match for you. Their easy Interface will make your buying and selling Bitcoins much easier and faster.
Some Of The Alternatives To eToro:
Some of the popular alternatives of eToro are mentioned below:
- Wealthfront
- Fidelity
- WeBull
- Robinhood
- Stockpile
Conclusion:
If you are planning to buy Bitcoin or any other cryptocurrencies, eToro is truly one of the most significant cryptocurrency apps for investors. Their easy-to-use interface is one of the notable features which helps the users to use eToro efficiently. If you are confused about how to buy Bitcoin on eToro, this guide will help you find all the answers to your questions. There are several methods by which you can buy Bitcoins easily and efficiently without risking a huge amount of money for sure.
Frequently Asked Questions (FAQs):
Is eToro safe for bitcoin?
On eToro, the user’s funds are kept safe in top-tier banks, and their personal piece of information is guarded under SSL encryption.
Can I buy Bitcoin on eToro without verification?
For registering in the eToro platform, verification is mandatory. This is important to keep the platform safe and secure from unfortunate activities.
Do I actually own my crypto on eToro?
eToro authorizes you to own your Crypto wholly. You can store and safeguard it confidently and transfer your crypto assets to your eToro wallet.
What are the fees to buy Bitcoin on eToro?
eToro charges a solitary, easy, and transparent fee of 1% for selling or buying crypto. When purchasing crypto assets, you also gain ownership of those particular assets.
