How to Buy Ethereum on eToro – Step by Step Beginners Guide
This guide explains you how to buy Ethereum on eToro. It introduces you to the different ways of buying the ETH crypto asset on the brokerage, including cards and eWallets.
We will also look at the cost of buying ETH on the eToro platform and provide you with a brief overview of the platform, explaining what makes eToro the best place to buy ETH and some of the best cryptos.
How to Buy Ethereum on eToro
This quick guide will teach you how to buy Ethereum right now. It goes over the ETH buying process on eToro – a multi-regulated crypto exchange that lets you buy crypto with as little as $10.
- Step 1: Register an eToro account: Start by creating a free crypto trader account on eToro.com. This involves submitting your personal information and verifying your identity.
- Step 2: Deposit funds: Proceed to deposit US dollars fee-free to your eToro account. You can deposit a minimum of $10 via popular supported payment methods like debit and credit cards or eWallets like PayPal that process the deposit instantly.
- Step 3: Search for Ethereum: On the search box, enter “Ethereum” and click on the “Trade” icon to initiate the transaction.
- Step 4: Buy Ethereum on eToro: Indicate how much you want to invest in “Ethereum” and hit the “Open Trade” button to execute the transaction. eToro will add Ethereum to your crypto portfolio and deposit the private keys of the just purchased ETH tokens to the exchange-provided crypto wallet.
Cryptoassets are a highly volatile unregulated investment product.
Read on to get a more detailed explanation of how to buy Ethereum in the US with eToro. We provide you with a detailed step-by-step guide to buying ETH below.
How to Buy Ethereum on eToro Explained
Among the many factors helping eToro stand out among the best crypto exchanges in the US is its straightforward account opening process and its quick crypto buying process. Below, we break down this crypto investing process, teaching you how to buy Ethereum and some of the best altcoins on the platform.
Step 1: Register a crypto trade account with eToro
The first step to buying cryptocurrencies like ETH on eToro is creating a crypto trader account. Open the official eToro.com website or download the eToro mobile trading app. Hit the ‘Join Now’ button and complete the registration form provided.
The form captures such basic personal details as your name and email address, phone number and country of residence, zip code, and age. It will also ask about your income sources and trading experience. You will then need to come up with a unique name and password for the account.
Step 2: Verify your identity
The registration process is only complete after you have verified your identity. Simply upload proof of identity – in the form of a photo of a government-issued identification document – such as a passport or driver’s license. The eToro team will review this trader account application form and email you a notification informing you of the account approval – usually within 24 hours.
Step 3: Deposit funds
You will need a minimum of $10 to start buying Ethereum or any of the best future cryptos listed on eToro. You can fund your account with credit cards, debit cards, or eWallets like PayPal and Skrill. eToro doesn’t charge a deposit processing fee for either of these methods, and the cash reflects in your account almost instantly.
If you prefer making a bank deposit, understand that the minimum you can transfer in is $500. Note, however, that deposit processing may take a few days before reflecting in your crypto trader account – between 3 and 7 business days.
Step 4: Search for Ethereum
Head back to your user dashboard and on the search bar, enter ‘Ethereum’ or ‘ETH,’ then click the trade button to bring up the trade customization tab.
Step 5: Buy Ethereum on eToro
Enter the amount of US Dollars you wish to invest in Ethereum on the trading tab. Hit the trading “Open Trade” button to execute the trade. eToro will debit your fiat account balance and credit your crypto wallet with Ethereum tokens.
Step 6: Set up the eToro Money Wallet
Note that the private coins you just purchased will be deposited into the ultra-secure custodial eToro wallet. This wallet holds more than 90% of all your crypto in an offline wallet. If you wish to have greater control and access to the Ethereum tokens, you will need to download eToro Money – the broker’s official mobile wallet app for iOS and Android.
Use the login credentials created in step one above to access and link the wallet with your trader account. You can then seamlessly move the private keys for your crypto to the non-custodial wallet at a fixed fee of 0.5% of the value of the crypto asset.
Cryptoassets are a highly volatile unregulated investment product.
How to Sell Ethereum (ETH) on eToro
Selling Ethereum on eToro is equally easy and straightforward as it closely mimics the buying process. However, after searching for Ethereum, you will need to click the “SELL” option. Additionally, when the trading tab pops up, you will need to enter the amount you intend to sell before hitting the ‘Open Trade’ button to execute the sale.
eToro will debit your crypto wallet and deposit the fiat into your account. You may then withdraw the cash using your favorite payment method, with the minimum draw limit set at $30 and attracting a processing fee of $5.
How Much does it Cost to Buy Ethereum (ETH) on eToro?
eToro maintains a transparent fee structure and highly competitive crypto trading fees. When buying Ethereum or any of the cryptos listed here, for example, you will only pay a fixed fee of 1% of the value of the crypto. This also applies to Ethereum sale transactions.
Other fees that you need to pay close attention to when buying or selling Ethereum on the platform include the withdrawal fee as well as the crypto transfer fee. The broker doesn’t even charge you a deposit fee when you buy Ethereum with PayPal or cards. Plus, the crypto transfer fee is capped at $50.
eToro Ethereum Exchange Review
eToro is an excellent choice for crypto traders or investors looking for a user-friendly platform to buy both large-cap digital assets like Ethereum as well as new coins. This user-friendliness is evidenced not just by its easy client onboarding and crypto buy processes but also by its maintenance of a highly navigable trading interface.
Its comprehensive educational content featuring how to invest in crypto guides, as well as a free demo account, helps it appeal to novice crypto investors. The integration of multiple advanced trading, risk management, and analysis tools, on the other hand, helps it draw in expert investors.
You would also like to buy crypto on eToro, one of the best crypto apps, because it integrates a growing selection of crypto assets – more than 70, including what analysts consider the next cryptos to explode. Not forgetting that you only need $10 to start trading and that you can buy crypto with PayPal and virtually all the most popular digital assets on the platform.
But eToro is more popular because of its social and copy trading tools. Through its built-in social platform, you get to interact with other Ethereum investors on the platform. You also learn about the trendy topics and news in the crypto-verse.
The copy trading tool, on the other hand, lets you copy the trade settings of experienced and highly successful traders on the platform. It lets you earn passively and you only need a minimum balance of $200 in your account to get started. In addition to trade settings of successful crypto trades, you can also use the CopyPortfolio tool to copy the smart portfolios.
Pros and Cons of eToro Ethereum Exchange
- Overall best place to buy Ethereum
- A highly secure crypto brokerage that holds 90%+ of your crypto offline
- Multi-platform and available as a web trader and mobile app
- Fixed 1% fee on both buy and sell orders
- Supports copy trading and gives free demo accounts
- Integrates in-depth trading and analysis tools
- Maintains non-trading fees i.e., withdrawal and crypto transfer fees
- It is not available in some US states like Hawaii and Minnesota
Cryptoassets are a highly volatile unregulated investment product.
Conclusion – How to Buy Ethereum on eToro
eToro has simplified the crypto investing process and made it possible for anyone to buy Ethereum on the platform with just a few clicks. It is also one of the few altcojn exchanges that let you buy Ethereum with PayPal while supporting a host of other fiat payment options.
We have also mentioned that you only need $10 to start buying ETH and the 70+ cryptos supported on this crypto trading platform and that the exchange maintains a fixed transaction fee for all virtual currency trades.
Reviewed and Fact Checked by Kamal Masri, Crypto Writer and Investment Analyst.
eToro Exchange
- Free Copy Trading of Professional Traders
- Best Place to Buy Ethereum
- Minimum Deposit only $10
- Best Beginner exchange
- Open to US & Worldwide
Cryptoassets are a highly volatile unregulated investment product.
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Wajeeh Khan
Wajeeh Khan is a financial researcher and writer with 7 years of experience. He has immense exposure to a range of financial assets, including stock, cryptocurrencies and forex - and is particularly well-versed in asset valuation, analysis, and portfolio management. Since 2016, Khan has worked with notable online platforms within financial journalism, including Invezz, Trading-Education, Dog of Wall Street, and News Break. All in all, he has written, editted, and published over 7,000 articles, guides, and market insight. Online casinos started as a hobby for Khan in 2018. But in only two years, it had already become another niche that he started actively researching. Over the past three years, he has written a diversified set of content around gambling for clients from all over the world. Academically, Khan has a Bachelor's in Economics and a Master's degree in Finance. He's also completed a bunch of courses on digital journalism and financial markets at large.
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