Bitcoin is known as a decentralized cryptocurrency worldwide. As a digital currency, it has taken the attention of investors and sellers. More and more people are inclined towards this groundbreaking digital currency. Though it offers a combination of security and the potential for great output. However, getting started with Bitcoin currency in Europe is a little bit stressful. Especially for new investors who don’t know the perks of this digital currency. That’s why eToro, a reliable platform for trading, comes into the digital world. But how to buy Bitcoin on eToro? Here is a comprehensive guide for you. We will show you all the procedures in a step-by-step guide.
What Is eToro
eToro provides a prominent platform for trading crypto. This social trading platform was first launched by Israel in 2007. As they are well known for their crypto trading features in the world. Later, this platform lets everyone learn the basics of strategies and thoughts in the trading market. Apart from other online trading platforms, it is a user-friendly and unique platform. Traders can engage in a variety of financial instruments such as stocks, and currencies.
All you have to do is to make a trading account where you can practice investing in the real market. You can trade up to $100,000 of virtual money. Users can also talk to each other, and learn the trades of successful investors. This strategy helps newcomers learn from experts and makes smart investments. Whether you want to buy stocks, try cryptocurrencies, or learn ways to invest, eToro provides a more supportive environment in the world of finance.
How To Buy Bitcoin on eToro
Now, we will show you through easy steps how exactly you can buy bitcoins. Let’s scroll down to learn in easy steps.
Make an eToro Account
First of all, you have to create an account on Etoro. Account creation is very simple and straightforward. You just have to open the eToro official website. Learn it in a step-by-step guide.
- Go to the eToro website.
- Click on the “join now” or “sign up”button.
- After joining, follow the instructions to create your eToro account.
- Provide your email, username, password, or anything else.
- Verify your account for security purposes. Follow the instructions to complete the process.
- After verifying your email, you will be asked to complete your profile.
- It includes providing additional personal information.
- Sometimes it requires some documents for security purposes, such as a passport or driving license.
- To ensure secure trading, you should comply with all the regulatory requirements.
Invest in your eToro account
In order to buy Bitcoins, you should have some money in your eToro account. eToro provides several convenient ways to transfer money. Like bank transfers, credit cards, and e-wallets. You can choose any of the quick and convenient methods.
- Log in to your eToro account.
- Search the account option in the main menu.
- Find the “Deposit” button on your eToro profile.
- Choose the most convenient method of transferring funds from the available options.
- Enter the important details such as your credit card number, bank account, or e-wallet login.
- Authorize the transactions by following the instructions.
- Before depositing, Check all the transaction information provided at least two times.
- Click on the send button, this will initiate the transactions.
- You may provide more details for further verifications.
After depositing funds, you will receive a confirmation message. That will confirm that you have successfully transferred the funds 8nto your eToro account. Shortly, after receiving this message, you will be able to buy bitcoin on eToro.
Search for Bitcoins
The next step in how to buy bitcoins on eToro is to search for Bitcoins. Once your account has funds, you will be able to search for bitcoins. For this procedure, follow the below steps.
- Locate the search bar on the eToro website.
- To find a cryptocurrency, Enter the keyword “Bitcoin ” in the search bar and press enter.
- It will take you to the Bitcoin page.
Place a Buy Order on eToro
This is a very important step where you can learn how to buy bitcoins on eToro. By placing a buy order, you can acquire any bitcoin. Let’s walk through its steps.
- On the Bitcoin page, click on the Trade button to open the next window.
- The next window has two options, “Trade” or “Order”.
- You should click on the Trade button.
- Opting for the Trade button will enable you to purchase bitcoins.
- Set your parameters and the number of bitcoins you want to buy.
- In the order placement winder, you can set the number of bitcoins.
- Now Carefully review the transaction details in order placement winder.
- Pay attention to the investment section.
- Notice any applicable fees or taxes.
- eToro also provides you transparency by showing you the real market rates.
- Understand the different types of orders.
- Now you can purchase bitcoins at the current market rates.
- Double-check your order details before proceedings.
- Review the number of bitcoins.
- Also ensures there is no applicable fee or taxes in the purchase.
- If everything is good, click on the open “Buy” button and execute the purchase.
Market Orders & Limit Orders
At the time of order placement, eToro offers two different types of orders. These are Market orders and Limit Orders. You should have a basic understanding of each one before placing orders. By placing the limit order, you can set a limited price, by which you can buy bitcoins. On the other hand, Market order enables you to execute orders at the current market rates.
Monitoring of your Bitcoin on eToro
Monitoring your investment on eToro is not a daunting task. By keeping an eye on Bitcoins holdings through an eToro account, you can track your investment on this platform. It’s the final step to monitor your investment on how to buy Bitcoins on eToro.
1: Keep an eye on your Investments
To monitor your investments in bitcoins, you should keep an eye on them. For this purpose, you should navigate to your eToro account dashboard. Here, you will find a summary of your account, including the amount of Bitcoins. Moreover, you can view the essential information regarding the performance of your bitcoins. So, you can keep track of how your investment is performing.
2: Monitor performance
In your portfolio, you can also monitor the performance of your Bitcoins. As a cryptocurrency, your investment can show a sudden gain or loss. To track these changes, you can monitor the performance. Additionally, an eToro price chart is also available to observe the patterns.
3:Set the alerts
Setting alerts is the easiest way to stay updated on eToro. This popular platform also allows you to set alerts for price changes. Whenever there is a fluctuation in the price, eToro will notify you via emails or push notifications. Alerts also help you to stay at the top of the market, and invest wisely when necessary.
How To Buy Bitcoin on Etoro App
- Sign up to open an account on eToro, a process that takes a few moments. …
- Link your debit card account and transfer Funds. …
- Buy bitcoin on eToro – simply click on the link and purchase bitcoin.
Well, eToro is a reputable platform in the finance world. It offers a range of social trading features for newcomers. After all, buying bitcoins on eToro is an exciting process for all investors. With this comprehensive guide on how to buy bitcoins on eToro, you can now navigate this platform thoroughly. Remember, investing in cryptocurrency, you should be aware of risks. Before making any decision, you should conduct proper research.