If you want to buy Bitcoin(BTC) on eToro but don’t know how and where to start, then this comprehensive guide is only for you. Here, we will provide a simple and quick guide on ‘How To Buy Bitcoin(BTC) on eToro.’ Read on to learn more!
Bitcoin(BTC) has garnered significant attention as a groundbreaking digital currency, offering investors worldwide a decentralized and potentially high-yield investment option. Entering the cryptocurrency market may seem intimidating. However, eToro, a popular trading platform, provides a user-friendly and accessible solution to buy and trade Bitcoin. This step-by-step guide will walk you through the process of buying Bitcoin on eToro. It ensures that you can confidently navigate the platform and start your cryptocurrency investment journey.
Step-by-step guide to buy BTC on eToro
1. Account Creation or Login on eToro
If you are new to eToro, start by opening an account on the platform. The sign-up process is straightforward, requiring essential details and verification. For existing users, simply log in to your eToro account.
2. Navigate to the Cryptocurrency Page on eToro
Once logged in, head to the cryptocurrency page by clicking on the ‘Discover’ tab and selecting ‘Crypto.’ Here, you will find a list of various cryptocurrencies available for trading. Locate Bitcoin (BTC) either by scrolling or using the search bar. Click on Bitcoin from the list of cryptocurrencies, and you will be directed to an information page detailing the asset’s specifics, including its current market data.
3. Accessing the Order Panel on eToro
To proceed with buying bitcoin on eToro, you have two options: either click on the ‘Trade’ button displayed next to Bitcoin on the cryptocurrency page or click on the ‘Invest’ button on the Bitcoin asset page. Both options lead to the same order panel for Bitcoin.
4. How to Choose Your Trading Option on eToro
On the order panel, you’ll see two options on the top right: ‘Trade’ and ‘Order.’
- Trade: Select this option if you wish to buy a specific amount of Bitcoin at its current market price.
- Order: Use this option to set a target price for Bitcoin and the number of coins you want to purchase. Your order will be executed once the market price reaches your set target.
5. Determine Your Bitcoin Investment Amount on eToro
Depending on your chosen trading option, you’ll need to select how much you want to buy in Bitcoin(BTC) on eToro. You can either use the ‘Amount’ or ‘Units’ option.
- Amount: Set the USD amount you wish to invest in Bitcoin. You can manually enter the exact amount or use the +/- buttons to set the desired value. The minimum eToro Bitcoin(BTC) buy limit is $10.
- Units: Choose the number of Bitcoins you want to buy on eToro. eToro allows fractional purchases, so you can buy a fraction of a Bitcoin (e.g., 0.1 or 0.04).
6. Place Your Bitcoin Trade on eToro
After determining investment amount, click large blue button at bottom of order panel. The button may either say ‘Open Trade’ or ‘Deposit Now,’ depending on your chosen trading option. To have your order accepted by eToro, your profile must be approved, meaning you’ve provided proof of identity and address.
7. Deposit Funds on eToro (If Required)
If you don’t have sufficient funds in your eToro account, you will be prompted to deposit the necessary amount. Simply click on the ‘Deposit’ panel, choose your preferred deposit method, and execute the transaction to buy bitcoin on eToro.
Congratulations! You have successfully completed the journey of buying Bitcoin(BTC) on eToro. Remember to conduct thorough research and only invest what you can afford to lose. With eToro’s intuitive interface and comprehensive features, you can now confidently explore the world of Bitcoin and cryptocurrency trading. Happy investing!
