Last Updated on 4 months by Shubham Attri
Though Bitcoin is among the fastest-growing assets, many traditional stock brokerages don’t offer the coin. So, if you are thinking to buy this coin, the eToro platform might be the right choice for you. Yes, you can easily buy Bitcoin on eToro.
Bitcoin is among the most popular cryptocurrencies that almost every crypto trader wants to buy at least once when they are into trading. If you are also thinking to buy Bitcoin, the eToro platform might be the right platform for you. If you buy Bitcoin on eToro, you have two options to store it. You can either store it in the eToro wallet or even store it on the eToro platform as well. So, you can choose from these options to store your Bitcoin.
If you want to buy Bitcoin on eToro, you will have to follow a few steps for that. You will need to first open the eToro website > create an account > verify your trading account > deposit some amount > set up your crypto wallet > search for Bitcoin > trade > amount > buy Bitcoin. This is how easily anyone can buy Bitcoin on eToro.
This post will further discuss all the crucial details related to how you can buy Bitcoin on eToro. We will be mentioning the steps that you are required to follow if you want to buy Bitcoin on the eToro platform and where it is stored on eToro. So, without further ado, let us get started and find out all the necessary details related to how to buy Bitcoin on eToro.
How To Buy Bitcoin On eToro?
If you are thinking about how to buy Bitcoin on eToro, you just need to open the eToro website > create an account > verify > deposit some amount > search for Bitcoin > trade > amount > buy Bitcoin. This is all that you need to do for buying Bitcoin on eToro. So, let us further discuss these steps in more detail ahead.
Step 1: Open A Trading Account
The first step that you need to follow to buy Bitcoin on eToro is to open the eToro website on your device and open a new account on the platform. You can fill in the required details such as typing in your email address, username, and password. You can fill in all your personal details and follow the instructions on the screen.
Step 2: Verify The Account
The eToro platform requires to do verification for opening your new account. So, you can upload your proof of identity and proof of address. The platform will take around 24 hours to complete the verification process. So, once the verification has been completed, you can move on to the next step and see what is to be done next.
Step 3: Deposit Some Amount
When you open an account on the eToro platform, it needs a minimum deposit of $10. So, you pay that amount via your debit or credit card, PayPal, and more options. Once you have made the deposit, you can set up your crypto wallet. Well, it is not necessary to have a crypto wallet on eToro, unlike other exchanges. However, if you want then you can set it up and move to the next step once that is done.
Step 4: Search For Bitcoin
You can now go back to the eToro platform and you will see the search bar on the top of the screen. So, you can click on that and type in Bitcoin and press the search button. You can type Bitcoin or BTC and search. When you see that, you can click on it, and then press the Trade button. After that, move to the final step, and see what is to be done.
Step 5: Buy Bitcoin
Now that you have found the Bitcoin crypto, you can head over to buy it. Just enter the amount of Bitcoin that you want to buy in US dollars. After that, tap on the Open Trade option, and buy your preferred amount of Bitcoin on eToro.
That is how easily you can buy Bitcoin on eToro. You can also follow these steps and buy Bitcoin on eToro. What about storing your Bitcoin? Let us check that out further by discussing where can Bitcoin be stored on eToro.
Where Is Bitcoin Stored On eToro?
If you are thinking about where is Bitcoin stored on eToro, then you must know that you have two options to store that. Here are the options that you can choose to store your Bitcoin on eToro.
1. The eToro Platform
You can easily choose the eToro platform to keep your Bitcoin on other currencies. You need to remember that in case, you transfer cryptocurrency from the eToro platform, it cannot be transferred back to the platform. Instead, you will have to buy more currency and then store it on the platform. Let us find out the next option to store Bitcoin on eToro.
2. The eToro Wallet
The next option to store your Bitcoin on eToro is on the eToro wallet. The eToro wallet is a crypto wallet that is easy, free, and simple to use. It can store various currencies securely. You can exchange more than 500 pairs of currencies from within the wallet. The private key of this wallet is unlosable and your crypto is safe on it.
These are the two common ways or options that you might choose if you want to store your Bitcoin once you buy Bitcoin on eToro.
Here ends the post on how to buy Bitcoin on eToro. In this post, we have provided you with a complete step-by-step guide on how you can easily buy Bitcoin on eToro and what options can be tried to store your Bitcoin on eToro.
You need to remember that trading in cryptocurrencies is quite risky and we are not an investment site that provides any investment advice. So, you can do your research before involving in cryptocurrencies. Also, you can ask any questions in case you have related to how to buy Bitcoin on eToro in the comments section below to get their answers.
Frequently Asked Questions
Q1. How Long Does It Take To Purchase Bitcoin On eToro?
A. It may take around three to five business days for the transaction to be get completed. However, in some cases, you might be able to buy Bitcoin on eToro in just a single day as well.
Q2. How Do Beginners Buy Bitcoin?
A. Beginners can easily buy Bitcoin by finding out the cryptocurrency exchanges that offer Bitcoin. Once you find them, you can compare the price of Bitcoin, transaction fees, and other features of those exchanges. After that, you can select the right platform as per your needs and buy Bitcoin on any of those platforms.
Q3. Is eToro A Bitcoin Wallet?
A. Yes, it can be. You can buy Bitcoin on eToro and even store your Bitcoins on the eToro wallet with ease.