How to Buy Ethereum on eToro: Step-by-Step Guide
Want to buy Ethereum (ETH)? eToro is one of the most trusted and popular crypto exchanges to buy ETH on. Learn how to buy Ethereum on eToro in 2024 in our guide.
Ethereum is the second-largest crypto by market capitalization, offering far more utility and investment opportunities than Bitcoin. But if you’re new to crypto entirely, navigating some crypto exchanges can be difficult for new crypto investors. Fortunately, eToro makes it simple. This popular global exchange can help you buy Ethereum in just a few clicks. In this step-by-step guide, we'll walk you through how to buy Ethereum on eToro. Let’s go.
Step 1: Create an eToro account
To start buying Ethereum on eToro, you first need to create an account on the platform. Here's how to get started:
Visit the eToro Website: Access the official eToro website by opening your web browser and navigating to the designated page. Always make sure you’re on the legitimate site before continuing.
Registration Process: Look for the "Sign Up" button on the homepage (top right corner) and click on it to begin the registration process.
Provide Your Details: Fill in the required information, including your name, email address, and your chosen password. Alternatively, you can sign up using your Google or Facebook account.
Accept Terms and Conditions: Take the time to carefully read and accept eToro's terms and conditions. Understanding the platform's policies is crucial before proceeding.
Verify your account: In order to buy crypto, you’ll need to provide personal details like your name, ID, social security number, address, and more. This is due to regulatory requirements.
Step 2: Deposit funds into your eToro account
Next up, you need to fund your eToro account. Here's how you can do it:
Log In to Your eToro Account: Visit the eToro website and log in using your credentials to access your account.
Navigate to the Deposit Section: Find the "Deposit Funds" option, which is typically located within the main menu or in the account settings section.
Pick a payment method: There are three different deposit methods for eToro that we’ll cover in more detail below.
Choose Your Deposit Amount: Enter the amount you wish to deposit into your eToro account.
Review Deposit Fees: Take a moment to review the deposit fees charged by eToro. The platform typically charges a certain percentage of the transaction amount. Be sure to review these fees before proceeding.
Verify Transaction Details: Pause and carefully review the transaction details, including the deposit amount and payment method details, to ensure accuracy.
Complete the Deposit: After reviewing all the information, click the "Submit" or "Deposit" button. You may be redirected to an external payment gateway for the final steps.
Confirmation: Following the successful deposit, you will receive a confirmation message, and the deposited funds will reflect in your eToro account balance.
eToro deposit and payment methods
eToro offers various payment methods for depositing funds into your account. Here are the available options:
Credit/Debit Card: If you prefer using your card, select the credit/debit card option. Enter your card details, including the card number, expiration date, CVV, and billing address.
Bank Transfer: If you wish to transfer funds directly from your bank account, opt for the bank transfer option. eToro will provide you with the necessary details, including their bank account number and reference code. Use this information to initiate the transfer from your bank's website or app.
E-wallets: eToro also supports various e-wallets such as PayPal. Choose your preferred e-wallet option and follow the prompts to link your e-wallet account with eToro.
Read next: How to buy Bitcoin on eToro
Step 4: Place an order to buy Ethereum on eToro
Purchasing Ethereum on eToro involves navigating the intricacies of order placement. Let's explore the steps:
Find Ethereum on eToro: Use the search function on eToro's platform and type "Ethereum" or "ETH" to locate Ethereum in the list of available cryptocurrencies.
Open the Ethereum Trading Page: Click on the Ethereum listing to access the Ethereum trading page, where you can find information such as the current price, charts, and relevant details.
Click on the "Trade" or "Buy" Button: Locate the "Trade" or "Buy" button on the Ethereum trading page and click on it to initiate the order placement process.
Enter the Purchase Amount: In the order window, enter the desired amount of Ethereum you want to purchase. Keep in mind that eToro may impose minimum trade size requirements.
Review Order Details: Take a moment to review the order details, including the purchase amount, the current price, and any fees associated with the transaction.
Confirm the Order: Double-check all order details for accuracy. Once satisfied, click on the "Confirm," "Open Trade," or "Buy" buttons to execute the order.
Why buy Ethereum on eToro?
There are plenty of crypto exchanges to pick from, but eToro offers some benefits over other platforms, including:
Established and regulated: eToro is a well-established and regulated platform, offering a sense of security and trust to its users. By adhering to stringent financial regulations, eToro ensures transparency and reliability.
Diverse cryptocurrency portfolio: eToro boasts a diverse range of cryptocurrencies, including Ethereum, allowing users to diversify their investment portfolios.
Fractional purchases: With eToro's innovative approach, even those with limited budgets can invest in Ethereum by acquiring fractions of the cryptocurrency.
Minimal fees: eToro has a simple fee structure, with a flat 1% charged on crypto purchases and sales.
Multiple payment options: eToro supports various payment methods, such as credit/debit cards, bank transfers, and e-wallets, ensuring a seamless deposit process.
Security: eToro prioritizes security, implementing measures like encryption and two-factor authentication to safeguard users' digital assets.
Access to market insights: eToro provides users with market insights, research tools, and educational resources, allowing them to stay informed and make informed decisions.
Read next: How to buy Dogecoin on eToro
Overall, eToro offers a user-friendly platform that facilitates the purchase of Ethereum with ease. By following the step-by-step guide provided here, you can confidently navigate the world of cryptocurrency trading from the basics of buying Ethereum and beyond.
Your frequently asked questions...
How do I directly buy Ethereum?
To directly purchase Ethereum, follow these steps:
Choose a reputable cryptocurrency exchange.
Create an account and complete the verification process.
Deposit funds into your exchange account.
Find Ethereum (ETH) on the exchange's platform.
Place an order specifying the amount of Ethereum you want to buy.
Securely store your purchased Ethereum in a wallet.
How much does eToro charge to buy Ethereum?
eToro charges a flat fee of 1% for buying or selling cryptocurrencies, including Ethereum. This fee is calculated as a percentage of the transaction amount, providing transparency and simplicity.
How do you buy crypto on eToro?
To purchase cryptocurrency on eToro, follow these steps:
Sign up and verify your eToro account.
Deposit funds into your eToro account using your preferred payment method.
Search for the cryptocurrency you want to buy (e.g., Ethereum) on the platform.
Click the "Buy" button and enter the purchase amount.
Review the order details, including fees, and confirm the purchase to execute the trade.
Is eToro a reliable platform for buying Ethereum?
eToro is a reputable platform known for its user-friendly interface, various payment options, and social trading features. However, when storing crypto, you should always store crypto you’re not actively trading in a secure, non-custodial wallet. Read about the best ways to store crypto to learn more.
How long does it take to buy Ethereum on eToro?
This can vary depending on you and how confident you are with the platform. For experienced users, this can take only a couple of minutes. If the Ethereum network is congested, this may take slightly longer.
Can you withdraw Ethereum from eToro?
Yes, you can withdraw Ethereum from eToro by transferring it to another wallet or exchange. You can also sell your Ethereum for cash on eToro or trade it for another cryptocurrency.
Do you buy actual crypto on eToro?
If you purchase crypto on eToro, eToro purchases the asset on your behalf and stores it in a segregated account under your name. If you open position with a CFD, you do not own the underlying asset.
Can I buy $10 worth of Ethereum on eToro?
Yes. The minimum spend for Ethereum on eToro is as little as $10.
Is it safe to leave crypto on eToro?
While eToro is regarded as a secure exchange, it is still best practice to store any crypto you're not actively trading in a secure, offline wallet.