There are a number of exchanges that will let you trade your funds for bitcoin. One of them is eToro. STEP 2: Sign up If you’d like to buy bitcoin through eToro, all you need to do is sign up, link your bank, and transfer funds into your eToro account. Apr 08, · Etoro is a very popular payment method among investors for trading bitcoin and other cryptocurrencies. If you are buying or trading bitcoin in high volumes with Etoro our recommendation is to use a SWIFT wire transfer or e-wallet (PayPal, Skrill or Neteller) to make deposits for the fastest and smoothest transaction time. Table of Contents [ show]. Buy or sell Bitcoin. View real-time BTC price, and stay up to date on BTC value with live charts. Millions of users trust eToro to trade crypto.
Etoro trade bitcoinHow To Trade Bitcoin On eToro? (Step-By-Step Guide)
In other words, rather than owning or trading the asset, you are just speculating on the change in its value. To open a basic account, all you need to do is fill in your name, email and a password. From there you can then use the demo account as well as access all of the information that you need such as FAQs and educational content.
Should you want to start trading and make deposits and withdrawals, you are going to need to go through the verification procedure. You will be required to produce a range of documents such as a copy of your government issued ID like a passport, a recent utility bill, and other information relating to your economic circumstances. While it might seem like a headache to have to provide all of this information, just to trade, it means that you are trading with a trusted and reliable provider and that you, your data, and your trading is in good and secure hands.
All of your information is encrypted , and again they adhere to stringent standards set out by the various regulatory authorities that monitor them. There have been no security or data breaches to date, and this is a record that eToro are very proud of as it means that you can trade in peace, knowing you are in good hands.
Regular trading is the easiest way of trading on the eToro platform. Simply put, you just trade what you have, and you do not need to borrow or leverage any margin more about these words in a minute. Investors use leveraged trading to significantly i ncrease the profits that they make on a single investment.
Leveraged trading allows you to make a trade without putting up the full amount. Of course, you would have to repay the coin, plus a small fee once the trade has been concluded, and should you lose, the platform will automatically stop before you lose the asset that you leveraged.
There are many different ratios of leveraging available on eToro, but we advise only giving it a go once you have learned about it a fully understood the risks involved. The margin is the loan that you take from the broker , or a peer, to fulfil the leverage ratio of the trade. For more information, read our guide on to the Bitcoin Leverage Trading.
What this means is that you can profit on price rises with a long position and you can also profit when the price falls with a short position. As Bitcoin is rather volatile and its value jumps around quite considerably, this means there are several good times of day to open trades. For example, if Bitcoin is in a trading range where the value keeps rising and falling within a specific range, you would move to open a long position when it reaches the bottom of that range and then close it when it reaches the top value.
You would then look at the possibility of opening a short trade to profit as the price falls again within the range- based on this scenario you would benefit when the price goes up, as well as down.
Trading Bitcoin on eToro does not have to a complicated process, and with features like the demo account, CopyTrading, and all of the assistance and help materials that are on hand to help you learn, it is very simple. Due to Bitcoins volatility, it is a rather exciting commodity to trade with, and if it is something you think you might enjoy, why not give it a go now as who knows where its value will take us in the coming months.
Megan was born in Poland but from a young age always sought to expand her horizons to a more cosmopolitan way of life. At 19 she moved to the hub of tech and culture where she studied at City University in London. Keen on understanding media platforms and social interaction Megan graduated with a degree in Media and Sociology. Most cryptocurrency spreads range between 1. Check eToro's site for current pricing.
By comparison, SoFi charges a markup of up to 1. The cost to convert crypto into fiat currency which is to say, U. Cryptocurrency trading available in 41 states: While all U.
With 15 cryptocurrencies to buy and trade, eToro has a greater selection than many other U. Our Take. Jump to: Full Review. None no promotion available at this time. Low minimum to fund an account and begin investing. Social trading: Ability to match moves of popular traders. Cons Service only available in 41 U. Compare to Similar Brokers. Open Account. Promotion One free stock for new account owners. EToro is best for:. EToro at a glance.