sign up FAST!

Buying Ether (ETH) On eToro: Easy Instructions

The significant popularity of Bitcoin led to the emergence of many new cryptocurrencies. Ethereum (ETH) is the second-largest cryptocurrency in the world by market capitalization, offering more utilities and investment opportunities than Bitcoin. As a result, Ethereum positions itself as the top three cryptocurrencies by trading volume. If you are interested in acquiring Ethereum, you have to consider many factors. The platform you choose to buy Ethereum is a crucial consideration, as it impacts necessary factors like the simplicity of the process and concerns associated with compliance, fees, security, and trust. There are many platforms available to buy Ether. However, eToro is one of the most used platforms to buy Ether (ETH). eToro is a renowned cryptocurrency exchange platform, offering a seamless and user-friendly experience. In this article, we will look at how to buy Ether (ETH) using the eToro platform.

Overview of eToro

Overview of eToro

eToro is a social investment and multi-asset brokerage platform, established in 2007. The platform facilitates trading and investment in several financial instruments, including cryptocurrencies, stocks, and commodities. Its user-friendly interface, access to diverse markets, and copy trading features contribute to its rising popularity. 

Users can invest with or without leverage facility and leverage a wide variety of tools, making it one of the best options for both new and experienced investors. 

Some of the key features of eToro are the following:

  • eToro allows users to socialize with each other on the forum.
  • Users can view other trader’s profiles and tactics and copy their strategies.
  • The platform offers a $100,000 demo account.
  • eToro is regulated by several financial institutions controlled by central authorities in the states.

How to Buy Ether (ETH) on eToro?

Purchasing Ether on eToro is relatively simple. Follow the below instructions.

Create an eToro Account

If you are buying Ethereum using the eToro platform for the first time, then you must create an account. 

To create an account, go to the official website of eToro and choose the ‘Create Account; option. In the upcoming registration form, you have to enter your name, residential address, and email address.

There will be a questionnaire you have to fill out to demonstrate your level of financial experience and knowledge. 

Verify Your eToro Account

After creating your account, you have to verify your identity before using the account due to legal and regulatory requirements. To verify your identity, eToro will provide you with two options: one as proof of address (utility bill) and one as proof of identity (passport).

You can complete this phase by taking photographs of any of these documents using your phone and uploading them on the platform. After completing this step, eToro will verify your account within 48 hours. 

Fund your eToro Account

Once your account has been verified, you can buy Ethereum by adding funds to your account. You can deposit funds by choosing a payment method to link to your account. There will be many payment options such as credit cards, debit cards, bank transfers, and e-wallet options like PayPal.

You can also choose EUR to avoid unnecessary conversion fees. The minimum deposit amount will depend on the location you live. If you are residing in the United States, then the minimum deposit amount is $100. 

To deposit funds, go to the ‘Deposit Funds’ option in the dashboard. Choose your preferred payment option and enter the amount you want to deposit. eToro does not charge any fees for deposits.

Search for Ethereum 

Once your account has been funded, you can buy Ethereum. To buy Ether, search for Ethereum using the search bar. Click on the ‘Trade’ button. 

Place a Buy Order

You can place a buy order on eToro. There will be two options:

Trade: Allows you to buy Ether at its current market price.

Order: Allows you to choose a predetermined price at which you want to open your trade.

Choose any of these and place your buy order. Your position will be opened instantly and you will receive your Ethereum tokens.

Why Choose eToro to Buy Ethereum?

eToro has several features to choose from to buy Ethereum. 

User-Friendly Platform

The user-friendly platform of eToro makes it one of the best options for beginners. If you are new to the field of cryptocurrency exchanges, you can navigate the platform simply and participate in Ethereum investing. There is an eToro academy to help beginners learn the basics of crypto investments.

Proprietary Crypto Wallet

The eToro Money Crypto Wallet boasts a wide range of digital currencies and ensures high security through its advanced signature mechanism. 

Lower Fees

When compared to other popular cryptocurrency exchanges, eToro offers lower transaction fees. eToro offers a 1% flat rate for all buy and sell transactions.

Automated Trading Tools and Features

eToro offers several trading tools for investors to make their investment journey more enjoyable. The CopyTrader feature allows traders to copy other traders’ tactics automatically. 

Conclusion

Buying Ether (ETH) on eToro is a straightforward process that combines user-friendly features with robust security measures. Whether you are a seasoned investor or a newcomer to the cryptocurrency space, eToro provides an accessible platform to trade Ethereum and other digital assets. By following the steps outlined in this article, including creating an account, verifying your identity, depositing funds, finding Ethereum, placing an order, and confirming your purchase, you can confidently navigate the world of cryptocurrency trading.

Leave a Comment