Is it hard to learn crypto trading?

Learning the intricacies of crypto trading can be a challenging process. You will first need to understand what blockchain technology is, which alone is a complex system. Mastering the basics of the technical analysis of the financial markets will also be necessary – something many newbies struggle with.

Where can I learn about day trading cryptocurrencies?

The best place to learn about cryptocurrency day trading can change depending on your needs. If you want to learn to day trade crypto, platforms then Binance and eToro can both be great options. The most reliable day-trading crypto platforms are Crypto.com and Coinbase. The latter is a trading site recommended for beginners. There is also an app called Webull, which provides a similar solution for mobile users.

How long does it usually take to learn crypto trading?

Learning cryptocurrency for beginners takes time. There is no set timeframe for when it comes to how to learn trading crypto. If you put enough time and effort into it, you can master this skill in just a few weeks. On the other hand, if you are doing this alongside a demanding job, you may need to spend several months perfecting your crypto trading skills.

Where can I learn to make technical analyses for a cryptocurrency?

To learn crypto technical analysis then ‘Cryptocurrency Trading: Technical Analysis Masterclass 2022’ by Udemy is the most comprehensive course for learning to make technical analyses of the financial market. If you are looking to obtain some additional background knowledge on what technical analysis is, you will find plenty on websites like Binance Academy, which is the ideal place to learn cryptocurrency technical analysis.

Where can I learn advanced strategies for crypto trading?

If you want to learn trading cryptocurrency at and an advanced level, then there is Udemy’s Algorithmic Cryptocurrency Trading course and Udemy’s Cryptocurrency Trading: Technical Analysis Masterclass are the two most recommended courses for learning advanced strategies. The first one offers five different strategies and expert advisor systems. The latter provides tons of trading examples, all through interactive teaching but both are great ways to learn how to trade cryptocurrency.

Where can I learn crypto trading and practice with no financial risk?

The best way to learn crypto trading safely is to practice with a trusted high-volume exchange, such as Coinbase. eToro is another reliable US trading platform with solid trust in the community, as is Gemini. If you are looking to trade internationally, you can make the safest crypto exchanges through Kraken. There will always be risk when you learn how to day trade cryptocurrency but there are apps out there where you can play investing games to get a feel for what it’s like.

Can I learn to trade cryptocurrencies for free?

There are several websites offering free crypto trading courses for beginners to learn about trading cryptocurrency. These include a comprehensive insight into buying, selling, trading, investing, staking and mining cryptocurrencies – and all that while keeping you engaged.

What are the top-rated crypto trading courses in the US?

The best overall course that'll teach you everything you need to know about trading crypto is Udemy’s Complete Cryptocurrency Investment Course. Udemy also has a Cryptocurrency Fundamentals course, geared towards beginners who want to buy, trade and sell crypto. Cryptocurrency Foundations is a similar course offered by LinkedIn Learning and is also recommended for newbies. All these programs can help you to learn how to day trade crypto and much more.

What are the best cryptocurrencies to invest in?

It’s not enough to how to buy and sell cryptocurrency, you need to know what to invest in, so take your time and think everything through. There are many great cryptocurrencies on the market. Currently, the most recommended investment options are Uniswap (UNI) and The Sandbox (SAND). Current technical analysis of the financial markets shows that these two currencies are the most likely to pay high dividends within the next two to three years.

What are the best cryptocurrencies to buy?

Once you know how to start trading cryptocurrency, you’ll want to buy some. Which one you choose depends on your future goals. For example, Binance Coin (BNB) is one of the best exchange-based cryptocurrencies you can buy nowadays. Whereas Uniswap (UNI) and Chainlink (LINK) hold the place for the best-decentralized exchange token to buy and hold and the best interoperability token to buy, respectively.

Here’s How to Buy/Sell Bitcoin on eToro – Step-by-Step Guide

Crypto

1 Aug

Written By Georgia King

How to buy/sell bitcoin on eToro:

Step 1 – Set up and verify your eToro account
Step 2 – Deposit funds into your account
Step 3 – Find and buy bitcoin on eToro
Step 4 – Store your bitcoin
Step 5 – Selling your bitcoin on eToro

To buy bitcoin (BTC) on eToro, you’ll need to set up an account and complete its stringent verification process. Once this is done, you’re free to deposit funds and execute trades.

In this article, we cover each step in detail to help you initiate your first eToro BTC purchase.

What Is eToro Bitcoin?

Before we explore how to buy bitcoin on eToro, here’s a brief overview of the cryptocurrency itself and of eToro as a trading platform.

Created in 2009, bitcoin is a decentralized digital currency that operates on a peer-to-peer network using blockchain technology.

It can be used for various purposes, such as online purchases, international money transfers and as a store of value.

Some people also invest in bitcoin as a speculative asset.

While there are now thousands of alternatives, bitcoin remains one of the most popular cryptocurrencies to buy because of its status as the original altcoin and its widespread recognition.

eToro is an online trading platform that allows you to buy, hold and sell bitcoin as well as other popular cryptocurrencies like Cardano, ethereum and Solana.

What sets eToro apart from other cryptocurrency platforms is its range of social copy trading tools.

These allow users to follow and copy the trading strategies of experienced investors, making eToro a particularly popular choice for those new to the trading environment.

How to Buy/Sell Bitcoin on eToro

The process for buying bitcoin on eToro is relatively straightforward.

Here’s a step-by-step guide for making your first purchase.

Set Up and Verify Your eToro Account

To buy bitcoin on eToro you first need to open an account. Visit the eToro website or mobile app and click on the 'Sign Up' or 'Join Now' button.

You’ll be prompted to provide some personal information, such as your name, email address and a secure password.

As a regulated platform, eToro has a KYC (Know Your Customer) verification process in place.

This involves uploading a copy of your identification, such as a passport or driver’s license, and providing additional information as needed.

KYC verification helps eToro ensure the legitimacy of its users, protect your account from unauthorized access and maintain a secure trading environment.

Deposit Funds into Your Account

Once you’ve set up your eToro bitcoin account, you’ll need to deposit funds to start trading.

The platform provides a variety of deposit methods, including credit and debit cards, bank transfers, and e-wallets like PayPal and Skrill.

For traders in the UK, there is a minimum first-time deposit of $50 USD unless funding is via bank transfer, in which case you’ll need to deposit $500 USD.

eToro does not charge fees for depositing funds, but you should be aware that your payment provider may have its own associated fees.

The time it takes for your funds to appear in your eToro account can vary depending on the deposit method used, but it’s usually a matter of hours to a few days.

Find and Buy Bitcoin on eToro

With your account funded, head to the search bar, type in 'Bitcoin' or its abbreviation 'BTC', and select the Bitcoin asset.

You’ll then have the option to 'Trade' or 'Buy' – click on 'Buy'.

Specify the amount you want to purchase, and eToro will provide you with an estimated cost based on the current market price.

Based on your trading style, you can choose between market orders (executed immediately at the current market price) and limit orders (a type of stop-loss order that allows you to set a specific price at which you’d like to buy)

Note that eToro crypto fees include a 1% charge per transaction when you buy or sell any cryptocurrency.

This is already included in the spread, so there will be no additional charges when you complete your purchase.

Store Your Bitcoin

When you buy/sell bitcoin on eToro, you have a couple of options for keeping it safe.

The first is to hold it directly in your eToro crypto wallet, a secure digital storage solution provided by the platform itself.

Using your eToro crypto wallet means you don’t have to worry about things like private keys, which can be an added complexity, especially for beginner traders.

Alternatively, you can transfer your eToro bitcoin to an external wallet.

These wallets offer advanced security features and are often recommended for those who want more control over their bitcoin holdings.

Some of the best bitcoin wallets available include Coinbase and Ledger.

Selling Your Bitcoin on eToro

If you decide to cash out your bitcoin, it’s a fairly straightforward process.

Navigate to the bitcoin market on the platform, and select 'Sell'. And follow the on-screen instructions to complete the sale.

Once your bitcoin is sold, you can link your eToro account to your bank account, and the platform will facilitate the transfer of your funds.

Be aware that eToro charges a $5 fee for every withdrawal as well as currency conversion fees where applicable.

Make sure you understand these costs before initiating a withdrawal.

When to Buy/Sell Bitcoin on eToro

The cryptocurrency market doesn’t have traditional opening and closing hours like stock markets. It operates continuously, with trading occurring across different time zones around the world. As a result, Bitcoin’s price can change at any time.

However, it’s worth noting that the market can be particularly active during specific periods, like when European and North American trading sessions overlap, typically between 9:00 AM and 1:00 PM (GMT).

During this overlap, there’s usually increased trading volume with potentially higher prices. With that in mind, the best time of day to buy Bitcoin on eToro can often be outside of the stated hours.

However, as with all cryptocurrencies, the bitcoin price in the UK can be extremely volatile, and it essential to adopt a robust trading strategy to mitigate any potential losses:

Study historical data – Historical data can provide insights into potential price movements, so analyze past bitcoin price trends and patterns to make informed decisions about when to buy.
Consider time zones – Be aware of different time zones and when you can actively monitor the market. The best time to buy may vary depending on your local time and the global trading environment.
Follow market news – Stay updated on the latest news, as major events can influence market sentiment and create buying opportunities.
Use technical analysis – Technical analysis tools and indicators help you assess market trends and identify potential entry points based on chart patterns and price movements.
Consider bitcoin robots – Explore the use of automated trading tools like bitcoin robots, which can execute trades based on predefined algorithms and strategies. These tools can help you make consistent and data-driven decisions on when to buy bitcoin on eToro.

Should I Buy/Sell Bitcoin on eToro: Advantages and Disadvantages

Now you know how to buy/sell bitcoin on eToro, here’s an overview of the major pros and cons associated with this platform.

Advantages

Easy to use – eToro is known for its user-friendly interface with an intuitive design that simplifies the trading process, making it suitable for both beginners and experienced traders.
Diverse investment options – As well as bitcoin, eToro offers a wide range of other cryptocurrencies, commodities and assets. This allows you to build a diversified portfolio within a single platform.
Social trading – eToro’s focus on social copy trading enables you to follow and copy the strategies of successful traders. This can be a valuable learning experience and may improve your trading results.
Regulation and security – eToro is a regulated platform that adheres to industry standards for security and fund segregation. This provides a level of protection for your investments.

Disadvantages

Fees – There are eToro crypto fees for certain actions, such as a 1% fee on crypto purchases and \$5 for withdrawals. Additionally, there are currency conversion fees for withdrawals in different currencies.
Limited access in some regions – eToro’s availability varies by country, and it may not be accessible in certain regions. Check if eToro is available in your location before creating an account.
Learning curve – While eToro is user-friendly, trading and investing in cryptocurrencies requires a certain level of knowledge, and it’s essential to educate yourself to make well-informed decisions.

Frequently Asked Questions

Is eToro good for buying/selling Bitcoin?

eToro is a good platform for buying bitcoin for both novice and experienced traders. It’s easy to navigate, offers competitive spreads and has a range of investment options available.

To be sure it works for you, try out the free demo account before you buy bitcoin on eToro.

What are the fees to buy/sell Bitcoin on eToro?

eToro crypto fees include a 1% charge for each transaction, whether buying or selling bitcoin.

This fee is rolled into the price you see on the platform, i.e., the spread. Additionally, there’s a $5 fee for withdrawals, and if your withdrawal involves currency conversion, additional charges will apply.

Can you buy and sell crypto on eToro?

You can buy and sell a range of cryptocurrencies on eToro, including popular altcoins like bitcoin. Ethereum, Dogecoin and Solana.

In addition to cryptocurrency, you can invest in various other assets on eToro, including stocks, commodities, indices and exchange-traded funds (ETFs).

Why is crypto so expensive on eToro?

Crypto prices on eToro are not necessarily more expensive compared to other exchanges.

The platform uses a fee structure that incorporates a 1% fee into the price. While this fee may not be included on other platforms, other charges may apply, which can impact the cost of trading in cryptocurrency.

How to buy/sell bitcoin on eToro wallet?

The eToro crypto wallet is a digital storage solution where you can keep all of your crypto assets in one place. It does not actually facilitate trading.

To buy bitcoin on eToro, you need to do so through the investment platform itself or through the eToro Money app.

Does eToro let you withdraw Bitcoin?

Yes, eToro allows you to withdraw bitcoin.

You’ll need to move your available bitcoin from your investment account to your eToro Money account. Then, specify how much you want to withdraw in fiat currency, and eToro will facilitate the transfer to a linked bank account.

How long does it take to buy/sell bitcoin on eToro?

Once your account is verified and funded, you can initiate a bitcoin purchase on eToro relatively quickly.

Market orders can execute instantly, while limit orders may take longer, depending on the specified price conditions.

Why is bitcoin more expensive on eToro?

Bitcoin’s price on eToro may appear slightly higher due to the platform’s fee structure, which adds a 1% fee to the advertised spreads.

When comparing the price of bitcoin across platforms, make sure to consider not only the spread but all associated fees and charges.

Final Thoughts

As a well-established, well-regulated platform, eToro is a popular choice for buying/selling bitcoin currency.

It’s straightforward to open an account, and once you’ve done so, you can start your investment journey in a matter of clicks.

There are, of course, other options available, and it’s essential to research each one thoroughly to find the best place to buy/sell bitcoin for you.

Whichever platform you choose, remember that the cryptocurrency market is highly volatile, and you should never invest more than you’re prepared to lose.

Georgia King