Bitcoin is the most popular and valuable cryptocurrency in the world. It has been making headlines for its remarkable performance and potential to revolutionize the future of finance.
If you are interested in investing in bitcoin, you might be wondering how to buy it on eToro app, one of the leading platforms for trading and investing in cryptocurrencies and other assets.
eToro app is a user-friendly and convenient way to buy Bitcoin and other cryptocurrencies. You can access the app from your smartphone or tablet, and enjoy the benefits of eToro’s features, such as:
- No deposit fees
- Low and transparent trading fees
- Copy trading
- eToro Wallet
- Social trading network
In this blog post, I will show you how to buy bitcoin on eToro app in a few easy steps. Let’s get started!
Step 1: Create an eToro Account
The first step is to create an eToro account. You can do this by visiting eToro’s website and clicking on the “Join Now” button. You will need to provide your email address, username, and password. You will also need to agree to the terms and conditions and privacy policy.
After that, you will need to complete your profile by providing some personal information, such as your name, address, phone number, and date of birth. You will also need to verify your identity and address by uploading a copy of your ID and a proof of address document. This is required by eToro to comply with the regulations and to ensure the security of your account.
Step 2: Deposit Funds to Your Account
The next step is to deposit funds to your account. You can do this by clicking on the “Deposit Funds” button on the bottom of the app. You will see a list of payment methods that you can choose from, such as:
- Bank transfer
- Credit or debit card
- PayPal
- Skrill
- Neteller
- Rapid Transfer
- Klarna
- Trustly
Depending on your location, some payment methods may not be available or may incur conversion fees. You can check the details and fees of each payment method on the app. The minimum deposit amount is $200.
Step 3: Buy Bitcoin on eToro App
The final step is to buy bitcoin on eToro app. You can do this by clicking on the “Discover” tab and searching for “Bitcoin” or “BTC”. You will see the current price, chart, and statistics of bitcoin. You can also read the latest news, analysis, and opinions from other users and experts on eToro’s social trading network.
To buy bitcoin, you need to click on the “Trade” button and enter the amount of money that you want to invest in USD. You can also enter the amount of bitcoin that you want to buy in units. You will see the estimated amount of bitcoin that you will receive, as well as the trading fee, which is 1% of the transaction value.
You can also set some optional parameters, such as:
- Stop Loss: This is the price at which you want to close your trade automatically if the market moves against you. This can help you limit your losses.
- Take Profit: This is the price at which you want to close your trade automatically if the market moves in your favor. This can help you lock in your profits.
- Leverage: This is the ratio of the borrowed funds to your own funds. This can amplify your potential returns or losses. eToro offers up to 2x leverage for bitcoin trading, which means that you can trade with twice the amount of your own funds. However, leverage also increases the risk of your trade, so you should use it with caution and only if you are experienced and confident.
When you are ready, you can click on the “Open Trade” button to execute your trade. You will see a confirmation message and your trade will appear on your portfolio.
Step 4: Store Your Bitcoin on eToro Wallet
After you buy bitcoin on eToro app, you have two options to store it:
- Leave it on eToro app: This is the easiest and most convenient option. You can keep your bitcoin on eToro app and access it anytime. You can also sell it or exchange it for other cryptocurrencies or fiat currencies on the app. eToro app has a high level of security and protection for your funds, so you don’t have to worry about losing your bitcoin.
- Transfer it to eToro Wallet: This is the option for more advanced users who want to have more control and flexibility over their bitcoin. You can transfer your bitcoin to eToro Wallet, which is a separate app that allows you to store, send, and receive cryptocurrencies. You can also use eToro Wallet to connect to other platforms and services that support cryptocurrencies, such as exchanges, merchants, or DeFi protocols. To transfer your bitcoin to eToro Wallet, you need to download the app and create a wallet account. You also need to verify your identity and phone number on the app. Then, you can go to your portfolio on eToro app and click on the “Transfer to Wallet” button next to your bitcoin trade. You will see the amount of bitcoin that you can transfer and the fee, which is 0.0005 BTC. You will also need to enter your eToro Wallet address, which you can find on the app. After you confirm the transfer, your bitcoin will be sent to your eToro Wallet.
Conclusion
That’s it! You have learned how to buy bitcoin on eToro app in a few easy steps. eToro app is a great platform for beginners and experts alike who want to trade and invest in cryptocurrencies and other assets. You can enjoy the benefits of eToro’s features, such as low fees, copy trading, eToro Wallet, and social trading network.
You can also explore other cryptocurrencies and assets that eToro offers, such as Ethereum, Cardano, Tesla, Apple, and more.
