How to Buy Bitcoin on eToro App: 7 Steps for Mastering Bitcoin

Do you want to buy bitcoin from a trustworthy platform? Let’s discuss a trustworthy eToro app and how to buy bitcoin on eToro app. As increasing numbers of people become knowledgeable about the possibilities offered by Bitcoin as a long-term investment, the currency’s popularity only grows. Bitcoin trading and buying are now simpler than ever, thanks to websites like eToro. 

It is particularly important to know the method by which and encourage them to buy Bitcoin using the eToro app, regardless of their trading background. We are going to take you step-by-step through the entire process throughout this tutorial.

Why choose eToro for buying bitcoin?

Offering a reliable marketplace and established trading of a range of money assets, including bitcoin and other cryptocurrencies, eToro has made a name for itself. Here’s what makes eToro unique:

• User-Friendly Interface: Customers can easily explore and execute trades with the eToro application since it was created with simplicity in mind.
• Educational Resources: To help consumers comprehend what the marketplace is and decide on prudent choices, eToro provides a wealth of educational resources.
• Social Trading: Toro’s “copy trading” function allows users to follow the investing techniques concerning profitable traders, which constitutes another of its distinctive characteristics.
• Security: eToro is renowned for its strong security protocols, which include encryption and regulatory compliance.

Setting Up Your eToro Account to Understand How to Buy Bitcoin on eToro App

You must first create an account on eToro to purchase Bitcoin. Here’s the way to do it:

Step 1: Download the eToro app.

You may download the eToro app on both iOS and Android devices. Before you can start, download the app from the app store of your choice.

Step 2: Sign Up and Create an Account

Launch the application, and then choose “Get Started” or “Sign Up.” Input the necessary information, including your name and email address, and set your password. Click “Create Account” once the terms and conditions have been accepted.

Step 3: Complete the KYC Verification Process

Bitcoin on eToro app needs customers to submit their information through a Know Your Customer (KYC) verification procedure to guarantee compliance and confidentiality. You will also be required to provide other details, like your country of residence, telephone number, and date of birth. 

Submit proof of residence (such as a utility bill or bank statement) and an image of your ID (such as your passport or driver’s license). eToro will examine and confirm the papers you have submitted.

Depositing Funds into Your eToro Account

Users must deposit into their account to begin purchasing bitcoin after it has been created and validated.

Step 1: Access the Deposit Funds Option

Locate the “Deposit Funds” button inside the eToro app, which is often located along the upper left side of the navigation bar.

Step 2: Choose a Payment Method

eToro accepts several payment options, which include bank transfers, credit/debit cards, PayPal, Neteller, and Skrill. Select the kind that best suits your needs.

Step 3: Understand Minimum Deposit Requirements

Additionally, there can be minimal deposit specifications, depending on your location and preferred payment method of choice. Before moving on, make sure you are aware of them.

Step 4: Complete the Deposit Process

To finish the payment process, enter the desired deposit amount and adhere to the directions displayed on the screen. You may purchase bitcoin as soon as the money is in your account.

Searching for Bitcoin on eToro app

As soon as you have money in your wallet, you should search for Bitcoin on the eToro site.

Step 1: Navigate to the Bitcoin Trading Page

Navigate to the top left navigation menu of the app, pick the “Trading” option, and subsequently choose “Crypto on eToro” using the drop-down menu.

Step 2: Use the Search Function

As a second option, you can make use of the screen’s search bar. Enter “Bitcoin” or “BTC” and choose it from the investment list.

Step 3: Access Bitcoin’s Market Data

Consumers can discover comprehensive information, such as charts, market trends, and other important statistics, on the Bitcoin website to assist them in making an informed buying choice.

Placing a Buy Order for Bitcoin

You may now purchase bitcoin. How to place an order is as follows:

Step 1: Select the amount of bitcoin to buy

Click the “Invest” link on the Bitcoin page. Choose the amount of Bitcoin you wish to buy.

Step 2: Choose between market and limit orders

• Market Order: Using this selection, you may purchase Bitcoin at the going rate. It’s the most efficient approach to carry out a deal.
• Limit Order: You may choose a price at which you wish to purchase Bitcoin by using a limit order. When the overall market hits your target price, then the purchase will be filled.

Step 3: Confirm and Execute the Buy Order

Once you’ve chosen the order type and quantity, check your information and validate the transaction. After that, your just-acquired Bitcoin will show up in your eToro portfolio.

Optional: Setting up an eToro Crypto Wallet

In addition to holding bitcoin, the eToro app comes with a built-in custodial wallet, but for more protection, you might wish to create another wallet.

Step 1: Overview of Wallet Options

Although eToro offers an institutional wallet, many customers would rather move their Bitcoin to an offline, personal wallet for further security.

Step 2: Set Up and Link the eToro Money Crypto Wallet

If you decide to utilize eToro’s wallet, managing your Bitcoin straight from the app is simple and may be linked to your trading account.

Step 3: Considerations for Transferring Bitcoin

Move your Bitcoin to a confidential, unsupervised wallet that you own the private passwords to for extra security.

Managing and Monitoring Your Bitcoin Investment

Following your purchase of Bitcoin, it’s critical to keep an eye on its performance and make wise investing decisions.

Step 1: Track Bitcoin Performance in the App

Watch the performance of Bitcoin with the eToro app by using real-time charts and market data.

Step 2: Set Up Price Alerts

To keep informed and make prompt decisions, you may configure alerts to tell you when the price of Bitcoin surpasses particular thresholds.

Step 3: Tips for Long-Term Management

Think about your investment plan: diversify your holdings with more cryptocurrencies, retain for the long term, or sell at a goal price.

eToro Fees and Security Considerations

It’s essential to comprehend eToro’s price schedule and security protocols to manage your investments.

• Fee Structure: Buying bitcoin on eToro app entails a 1% transaction fee. Pay attention to other costs, such as withdrawal fees, particularly if you are a non-US client.
• Security Measures: The majority of user money is stored in cold storage, and two-factor authentication is only one of the robust security measures that eToro uses. But it’s always a good idea to take extra safety measures, such as creating strong passwords and thinking about transferring money to a private wallet.

Conclusion

The answer to the question: How to buy bitcoin on eToro app? is a simple procedure for both experienced and newbie investors. eToro makes it simple for consumers to get started in the field of cryptocurrency with its user-friendly interface, wealth of instructional materials, and robust security features. Through eToro, you can confidently explore the possibilities of digital currency and begin your Bitcoin investment adventure now.

FAQs: How to Buy Bitcoin on eToro App

How do I buy on the eToro app?

To purchase bitcoin on eToro app, take these actions:

• Download and Sign Up: Create an account and download the eToro app from the iOS or Android app stores.
• Complete Verification: Provide the documentation needed for identity papers to complete the KYC verification procedure.
• Deposit Funds: Use whichever is your preferred means of payment, which might include a bank transfer, credit or debit card, or PayPal, to add money to your wallet.
• Search for an Asset: To locate the digital asset you wish to purchase, including Bitcoin or another cryptocurrency, simply use the search box.
• Place an Order: Select your required investment amount by clicking “Invest,” then complete the order.

How much does it cost to buy bitcoin on eToro app?

A 1% transaction fee is imposed by the platform when purchasing bitcoin on eToro app. This cost is charged for both the buying and selling of bitcoin. No deposit fees are also applicable, although non-US customers may be charged a $5 withdrawal fee. There is a 0.1% fee if you move Bitcoin to the eToro Money cryptocurrency wallet.

How do I buy bitcoins on the Bybit app?

Take these actions to purchase bitcoin using the Bybit app:

• Download and Sign Up: Create an account and download the Bybit app from the iOS or Android store.
• Complete Verification: To unlock full trading capability, go through Bybit’s KYC process and verify your account.
• Deposit Funds: Transfer money from another wallet or fund your account with a recognized payment method.
• Navigate to Bitcoin: Go to Bitcoin by clicking here. On the trading interface of the app, look for Bitcoin (BTC).
• Place an Order: After selecting the market or limit order type, you must input the desired Bitcoin purchase amount and confirm your order.

How do I purchase Bitcoin?

You can purchase bitcoin through several steps:

• Choose a Platform: Opt for a trustworthy platform like Binance, Bybit, Coinbase, or eToro.
• Sign Up and Verify: Make an account and finish any verification processes that are required.
• Deposit Funds: Use a credit or debit card, bank transfer, or other accepted payment options to add money to your account.
• Search for Bitcoin: Find Bitcoin on the website and select the desired purchase amount.
• Execute the Purchase: To finish the purchase, place a market or limit order and validate your transaction.

How to buy bitcoin on eToro app?

To buy bitcoin on eToro app:

• Set Up Your Account: Get the eToro app, register, and finish the KYC verification procedure.
• Deposit Funds: Deposit funds into your account with a selected payment method, such as PayPal or a credit card.
• Find Bitcoin: Search for Bitcoin (BTC) within the app using the search bar.
• Place a Buy Order: To buy Bitcoin, click “Invest,” input the desired purchase amount, select a market or limit order, and complete the deal. Your eToro portfolio will then have access to your Bitcoin.