How to buy Bitcoin , How to Buy Bitcoin on Etoro

5 Easy Steps of How to Buy Bitcoin on eToro in 2024

eToro is a financial service provider and multiple-asset investment company. The company has a straightforward goal, to make complex financial transactions simple. You have made the right decision by choosing eToro to buy Bitcoin.

In this article, we will show you how to buy Bitcoin on eToro in different ways such as bank account, crypto, debit, or credit card. And you will have one of the most powerful assets in the world in your wallet. So, let's start today's journey to buying Bitcoin using the eToro.

How to Buy Bitcoin on eToro: Step-by-Step Guide

To buy Bitcoin on eToro, First create an account with eToro. You'll need to set up a 2-factor authentication. Then, deposit funds into your account. You can do this via bank transfer or credit/debit card.

Once your funds are deposited, go to the “Crypto” tab on the left side of the screen and select “Bitcoin.” Then, click on the “Buy” button in either USD or BTC and click the “Open Trade” button.

01. Register on eToro

Bitcoin purchasing for the first time can be confusing and scary. But eToro has made this Bitcoin buying process easy for beginner crypto investors. Now visit the official website of eToro to create an account and become a member of this community.

Register on eToro, How to Buy Bitcoin on eToro

Then you will find a “Join Now” button in the top-right corner, click on this button. Simply type your email, a unique username, and a strong password.

Now you have to read the E-sign policy, client agreements, privacy policy, and cookies policy, then checkmark these boxes. Finally, click on the “Create Account” Button to create the eToro account.

02. Verify Your Account (Complete KYC)

On the dashboard of eToro, you can see a Verify button here, they will ask for your identity. eToro account requires Proof of Identity (POI), you can use a valid passport, driving license, or state ID.

Also, it requires Proof of Address (POA), here you can use a House rental agreement/ electricity/water/gas/phone bill, etc. You can submit these documents to the platform via the eToro Mobile App (Android & iOS).

03. Deposit Funds into Your eToro Account

Once you have verified your account, it means you have completed the basic things. Now you are in the exact place of how to buy Bitcoin on eToro. Well, you have to deposit funds to buy Bitcoin. You will have almost all options to deposit money such as debit/credit card, crypto, online banking, PayPal, Skrill, etc.

However, you will have 5 different types of accounts (including a demo), and you can choose which is best for you. eToro standard account is best for beginners, you can invest at least $200 in this type of account. If you are a Muslim and have $1000 to invest, then you must select a swap-free Islamic account.

04. Search for Bitcoin and Place an Order

Search for Bitcoin and Place an Order, How to Buy Bitcoin on eToro

After adding funds to your eToro account, now you are ready to buy Bitcoin. First, ensure that you are on your real account or virtual (demo) account. You will find this option on the left sidebar, below your profile. Then search for “Bitcoin/BTC” and select it, to open the trading option, click the “Trade” option.

Now, you are in the most sensitive place of the BTC buying journey. You can see the buy and sell button above, click on the buy. Then below the graph input your amount or unit, how much you want to buy.

You can exchange the Unit/Amount using the button on the right side. Carefully, set your amount and scroll down below to set a stop loss order (SLO), and take a profit order (TPO).

After setting your target SL and TP, double-check everything and click the button “Place Order”.

Congratulation! You have just successfully purchased Bitcoin, and you are now a BTC holder. But don't become too excited, see the next step.

05. Learn About Bitcoin and Market Trends

Yes, you are a Bitcoin holder, but as a beginner, you don't know how much time is perfect to hold this Bitcoin. You have a chance to lose this BTC because of greediness or panic. On 07 February 2024, the price of BTC was $42k, and today 27 March 2024 its price is around 70k.

There is a strong Bullish signal, so you want to invest in BTC, right? But, do you know what happened in September 2021 with Bitcoin? The BTC price had touched $67k, then it again fell to $16k within 1 year.

So, it is very important to understand the BTC before investing in it. Even if you have already invested, keep an eye on regular updates and analyze the market. Try to predict what will happen with BTC tomorrow.

Extra Benefits of Using eToro for Buying Bitcoin

There are several advantages to using the eToro platform for trading short or long-term. I have listed a few of them below:

eToro has a virtual portfolio feature where you can use a $100,000 demo account to play around in the market.
Less expensive than other trading platforms.
Available in 75 countries, including the USA.
They have quick and easy ways to withdraw and deposit money.
We also have a lot of different ways to pay, including PayPal.
They offer good customer service.
You can pick up tips from other traders.
You can ask questions and find out how other traders are approaching the crypto market as a whole on our social feed.

Final Thought

eToro is among the best platforms for beginners to buy Bitcoin in 2024. In this comprehensive guide to how to buy Bitcoin on eToro, I have explained step-by-step and in-details guide. Also, I have included screenshot pictures for easy to understand the process of buying BTC on eToro.

This article has helped you create an eToro account and buy Bitcoin with many payment options. You can use a debit/credit card, PayPal, direct bank account, and more options to buy on eToro. Even, you can trade with 0 investment here because eToro offers a free demo account for real market trading practice.

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Frequently Asked Questions

Is eToro Good for Beginners?

Yes, eToro is a good platform for beginners for several reasons. Such as a User-friendly interface, social trading features, and a wide range of assets supported. Additionally, it offers a lot of virtual money for learning and practice purposes.

Furthermore, this platform can be time-saving for all traders. So, we can consider eToro to be good for beginners in buying Bitcoin or any other stock.

What is the Minimum Withdrawal from eToro?

$30 is the minimum withdrawal from the eToro platform. Please ensure that you have verified your eToro account and the green tick on your profile. Then you need to have at least $30+$5(fee)= $35 on your account.