You can usually leave your Bitcoin and other crypto assets on most exchanges or trade sites. As the first cryptocurrency, Bitcoin (BTC) is also the most established crypto asset. Worldwide daily trading volume for Bitcoin exceeds $22 billion, and the price of BTC has nearly tripled in the past 12 months. However, make sure why a full-stack bi architecture matters you do your own research before making any investment decision and know the risks involved in buying Bitcoin or any other cryptocurrency. As well as eToro, this article recommends a few other trading platforms with which users can buy Bitcoin safely and securely. All platforms have been chosen for the following reasons.
EToro doesn’t charge anything for Bitcoin storage, whether you store your BTC on the platform or in the eToro Money wallet app. A spread is the difference between the buy and sell price for an asset. When you set up a copy trade, you can also set a trigger to exit the position, cutting your losses if the market turns against your trade. EToro makes basic trades intuitive but also offers ways to put your trading on autopilot.
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. In the example below, eToro will sell the position when its value doubles. Crypto as an industry remains largely unregulated, but eToro 5 ways blockchain technology is changing the world blockchain guides takes important steps to register with and acquire licenses from regulators in key markets. Start a search for limit orders, and you’ll get a basic overview of how limit orders work and links to walkthroughs. Now that you know how to purchase Bitcoin on eToro, it’s time to think about storage.
- The platform’s demo account is an excellent way to practice your trading and familiarize yourself with the tools and features eToro has to offer.
- This has proven true throughout Bitcoin’s history, but Bitcoin has rewarded early investors handsomely.
- EToro Wallet offers secure storage of your crypto but uses a login combined with two-factor authentication to access your wallet.
- EToro is an excellent choice for people who want to manage a range of investment products and auto-copy successful trader’s trades.
- A spread is the difference between the buy and sell price for an asset.
The online broker added cryptocurrency trading in 2013, starting with Bitcoin and expanding to over 80 popular digital currencies and tokens. EToro also offers staking services for certain proof-of-stake cryptocurrencies in select areas. The platform has a user-friendly interface and provides social trading, enabling users to auto-copy trades of the most successful traders on the platform. Bitcoin has built a reputation as the first secure and most valuable digital currency. The original crypto has become increasingly popular among investors as a speculative asset as well as a store of value.
EToro is a and well-regulated broker with a history dating back to 2007. The brokerage holds is registered with regulators in major markets, including FinCEN in the US and the FCA in the UK. Initially, you’ll pay a 2% fee, which is later adjusted to the true cost, respecting the caps previously mentioned. Likewise, deposits are also free on eToro, a rarity in the space.
Ideal for demo and spot trading
The easiest way to setup a Bitcoin wallet in the app is to initiate a transfer from your eToro trading account. Any U.S. resident can use eToro as an investment and trading platform, and it is available in almost every state. The trading platform is registered as a Money Service Business (MSB) by FinCEN and holds Money Transmitter Licenses in different states. However, there are some features that are not supported in the U.S. but are available in other regions.
It was launched in 2017 and offers advanced crypto trading services, including spot and derivatives trading. OKX has a wide variety of cryptocurrencies with multiple trading pairs and low trading fees. It caters to advanced traders but also offers demo accounts for inexperienced traders to build their trading skills.
Once your trade executes, you’ll see your balance in the Portfolio section linked on the left menu. For beginners in particular, eToro offers one of the easiest ways to get started with Bitcoin. By comparison, $1,000 invested in the S&P 500 would be worth just over $5,000 over the same period. You will receive a notification to confirm the submission. The transfer will be processed in five business days, and once completed, your BTC will be in your wallet.
There is no difference in price or value, so this comes down to personal choice. Currently, there is no way to transfer bitcoins to the eToro trading platform. However, you can receive bitcoins with the eToro Wallet. Stop-loss and take-profit options offer a way to trade without watching your computer or phone to manage your trades. The minimum trade requires you to keep trade at least $10.
Fractional Bitcoin Investments
We’ll also dig into the fee structure for eToro bitcoin trading and explore eToro Wallet for bitcoin storage. When you buy Bitcoin on eToro you can withdraw your Bitcoin to an external wallet from which you can spend your Bitcoin or send it to another wallet. However, it’s still important to consider minimum trade requirements.
It features useful tools and resources to streamline your investment journey. The platform’s demo account is an excellent way to practice your trading and familiarize yourself with the tools and features eToro has to offer. CopyTrading and Smart Portfolios for crypto assets see the same fee structure. For example, all of the trades below showed a 2% loss initially. The CopyTrader position (2nd from the bottom) is new and still shows a 1.55% loss if the position were to be closed immediately. Your buying price includes eToro’s commission and the spread.
Because of this, not all banks will accept payments to sites that deal with crypto. Before you open an account with a crypto exchange or trading site, make sure you know what your bank thinks about cryptocurrencies. EToro’s newbie-friendly platform makes it well-suited to people learning how to invest in Bitcoin and other cryptocurrencies. The availability of of stocks and ETFs help to build a diversified portfolio ot manage risk more effectively. To cash out from eToro Wallet, you can send your bitcoins to another wallet or exchange. Currently, there is no way to move Bitcoin back to the eToro trading platform to close your position.
Alternative platforms to buy Bitcoin
At this level, the withdrawal fee adds nearly 17% to trading costs. Minimum trades for crypto and stocks on eToro are just $10. This makes trading accessible to casual investors and those who want to build a position over time. This feature lets you follow the moves of lead traders on the platform. You can view performance history and trader bios and then scan their recent trades or current portfolios. The caveat is that CopyTrading requires a minimum investment of $200.
Step 5: Placing a Bitcoin Order
However, some traders prefer to move their BTC to a separate crypto wallet. The eToro Money app provides an easy way to store your Bitcoin cryptoassets from a consumer protection perspective and uses the same username and password as your eToro account. You can buy and sell Bitcoin on eToro in a few simple steps.
EToro uses two-factor authentication to secure your account by texting a code to your phone. The good news is that you can buy both on eToro — Bitcoin, exchange-traded index funds, and much more. $1,000 invested in bitcoin in December 2010 would be worth more than $177 million today, just 13 years later.
When you view a new position in your portfolio, you’ll likely see a loss of about 2%. That’s because selling the position will also incur a 1% fee, and you’ll sell at the market sell price, which includes the spread. Spreads like this are common on simple trading platforms and offer a way to lock in your price briefly. Without spreads, the price can change between the time you click a buy or sell button and the time your trade executes. Smart Portfolios, formerly called Copyportfolios, work much like ETFs in that they target certain sectors or investment goals.