More newbies seem to be attracted to crypto than ever before, and all asking themselves: ‘How can I buy Bitcoin?’ While not many crypto exchanges are slightly friendly to beginners, eToro is.
eToro is the preferred trading platform that makes purchasing Bitcoin quite easy.
In this article we will show you how to buy Bitcoin on eToro app in such a way that you will become comfortable while using the service.
Create an Account with eToro
How to Buy Bitcoin on eToro App
Let’s being the magic here!
Step 1: Create an account with eToro
The account opening process is quick and straightforward by performing the following steps;
- Go to the official website of eToro.
- Now look for the “Join Now” or “Sign Up” button on the eToro home page and click on it to start the procedure for an account.
- Then enter your Personal Information.
- Carefully read and agree to the terms and cashback’s conditions and any other attached legal document or disclaimer through the registration process.
- Confirm your Email Address.
- Prompt will be shown up at the beginning to complete your eToro profile. They are going to ask you for some details/proofs like date of birth, telephone number, country of residence with photos, proof of your address like utility bills. It’s done for the regulatory matters.
Deposit Funds in your eToro Account
Step 2: Deposit funds in your eToro account
Now before investing in Bitcoin first deposit the money in your eToro account:
- Credit/Debit Card: eToro accepts Visa, Mastercard, Diners Club, or Maestro cards. Deposits are quick and instant.
- Bank Transfer: You can fund your eToro account with a bank transfer which might take hours to a few business days depending on which bank and country you originate your transfer from.
- E-wallets: eToro supports popular e-wallet services like PayPal for faster processing and extra security.
How to Deposit Funds on Your eToro Account
Step 3: How to deposit funds on your eToro account
Login into your eToro account.
- You have to click on “Deposit Funds” or “Deposit,” which you usually find in the main menu, account dashboard, or portfolio.
- Choose your payment method.
- Enter all necessary details, including card details or bank account details.
- Enter the amount to be deposited and then preview affiliated fees or the conversion rate.
- Check the details and click “Deposit” to advance the transaction.
- You may receive further verification or instructions to follow, depending on the payment method used.
- Once the process is finished you will be notified that the deposit was a success. The funds in your account can now be used for the intention of buying Bitcoin.
Find Bitcoin on eToro
Step 4: Find Bitcoin on eToro
Given that your funds are already in your eToro account, finding the Bitcoin trading pair will be easy as pie.
- Log in to your account at eToro.
- Now use the search bar at the very top of the page or in the main menu bar.
- Then type in “Bitcoin” or “BTC” and hit enter or click on the magnifying glass button.
- The first search result will be “BTC”. Click on “Trade” to open the Bitcoin page.
Place a Buy Order
Step 5: Place a buy order
Now that you have located where Bitcoin lives inside eToro, it is now time to place a buy order and finally have some Bitcoins in your pocket. For that, you can place an order with ease in eToro.
- On each of the Bitcoin page, click the correct tab and then click on “Invest”.
- Select either “Trade” (the market price of the moment) or “Order” (predefined purchase order).
- Set the figure of the amount that you’d like to invest.
- Go through the information on the transaction and information on the fees.
- Get better acquainted with the order preferences.
- Carefully go through the order information again.
- By clicking “Buy,” you have now confirmed the order.
- Your order will now be executed according to your set parameters by eToro.
Step 6: Track your investment in Bitcoin
Tracking your investment will become very easy on eToro with just some simple steps to follow:
- Use the portfolio option provided to you under “portfolio” heading.
- Track how it is performing, such as current value, size of gains or losses, and percentage change.
- Set price alerts to remain informed.
- Have information on market trends and news.
- Think about risk-management strategies, such as stop-loss orders.
- Review your investment and trading strategy regularly.
- Use eToro’s educational resources.
Conclusion
Buying Bitcoin on eToro provides a thrilling opportunity for all who are keen to get into the magic world of cryptocurrencies. In the following generalized buying BTC manual on eToro, you can easily find yourself confidently participating in the discussion about investing in the world of Bitcoin. Just bear in mind while making any of the decisions, do your homework to know the risks coming with that.
