How To Buy Bitcoin On eToro App? Complete Tutorial For Beginners

• eToro, the social trading platform, aids in examining the truly diverse crypto space and trading with various digital assets. 
• Investment, trading, smart portfolios, and top-notch safety made eToro one of the favored options for investors.    

Bitcoin (BTC), the big cheese of the crypto kingdom, holds the possibility of becoming the global currency of the future. It is why the thought of buying BTC has struck the minds of every crypto lover at least once. For beginners, financing in BTC can be daunting, especially when it comes to security, the platform’s user interface, and transaction costs.  

Here, the main question arises: How and where can BTC be bought? eToro can be an excellent tool to pick when it comes to financing in BTC. The social trading and multi-asset platform shows a friendly interface with accessibility to make investments in digital assets. 

Let’s go through the phases of how to buy Bitcoin on the eToro app.       

How to Buy Bitcoin on the eToro App?

Investing in Bitcoin gives users the financial space to transact globally. Crypto enthusiasts can buy Bitcoin on eToro in 5 easy steps, which are as follows:

Step 1: Create an account on eToro

Buying Bitcoin on eToro requires an account on the platform, which can be created by visiting the official eToro website. Searching for “eToro” and hitting the legitimate website are the initial steps for account creation.   

Selecting the “Join Now” or “Sign Up” button on the homepage is the next thing to do. This process requires entering personal details like full name, email ID, and password, including an alphanumeric string and special characters. 

Here, create a strong password that is easy to remember and improves the account security. Once done, read and accept the terms and conditions, and verify the email address by clicking the link sent to the respective email ID.

After email verification, the user can complete the eToro profile by adding additional data such as phone number, date of birth, social security number etc.        

Step 2: Fund deposit in eToro Account   

Buying BTC or any digital asset requires funds in the account. As cryptocurrencies can’t be purchased using cash, exploring and selecting the most relevant and convenient payment method is significant.  

Before going through the fund deposit method, let’s uncover how payment can be made on the eToro platform. The platform accepts payments via bank transfers, credit/debit cards, Visa, Diners Club, Mastercard, Maestro cards, or E-wallets like PayPal. 

Log in to the account, hit the “Deposit funds” or “Deposit” option, and choose the preferred payment method. That’s all a user needs to do. The next thing to do is to feed the details, enter the deposit amount, and confirm the transaction. 

Here, don’t forget to review the linked fees or conversion rates. On a successful transfer, a confirmation will be sent to the account.       

Step 3: Search for the relevant trading pair  

eToro platform supports over 30+ cryptocurrencies; thus, searching and selecting a relevant trading pair is a must to avoid financial losses.

To buy Bitcoin on eToro, the user must log in to the account and search for the respective coin. Selecting the “BTC” and hitting the “Trade” option will redirect the user to the Bitcoin page from where BTC can be purchased.    

Step 4: Order placing

After selecting BTC on eToro, the account holder can effortlessly buy the digital asset. Clicking the designated tab and picking the “Invest” option on the Bitcoin page is the initial phase of order placing.   

The next thing to do is to choose between “Trade” and “Order” followed by the investment amount. Before confirming and hitting the “Buy” option, consider and cross-check fees, total cost, transaction details, order limit, and order preferences.  

Step 5: Bitcoin investment monitoring 

Receiving BTC in the account is not the end of the buying process and requires investment monitoring. 

Accessing the portfolio section in the account and tracking the performance, gains and losses, current value, and change percentage helps in investment management. Setting price alerts, adopting risk management strategies like stop-loss orders, and eToro’s educational resources maintain the portfolio.   

Conclusion 

Individuals thinking about buying BTC always think about How to buy Bitcoin on the eToro App. As the platform holds a user-friendly interface, investing in BTC or any other cryptocurrency becomes easy with eToro. The platform is highly convenient as it operates as a social trading and multi-asset platform.   

FAQs 

Is it safe to buy Bitcoin on eToro? 

The eToro platform has a strong standing in the crypto space mainly in terms of trustworthiness and security. Also, the platform operates with millions of customers, which showcases the trust of individuals on the respective platform. 

How to buy Bitcoin on the eToro App?

Creating an account, depositing funds, picking the relevant trading pair, and placing the order are the most straightforward ways to buy Bitcoin on eToro.   

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.