So you’ve just learned all about cryptocurrency, and now you’re ready to make your first purchase. You might find yourself preferring Ethereum over Bitcoin and other cryptocurrencies. If that’s the case then it’s time to head to eToro. Here’s how you can quickly and easily make your first Ethereum purchase on eToro.
How to buy Ethereum on eToro in 5 easy steps
Step 1: Find the Ethereum exchange that’s right for you
Since Ethereum has grown in popularity, it seems that you can purchase the cryptocurrency just about anywhere. Do your research and find an exchange that provides you with a safe, secure, and cheap way to make your first Ethereum purchase.
Step 2: Sign up for eToro
Step 3: Account verification
To ensure account security, eToro requires account verification. You’ll be required to upload a valid proof of identity (e.g. passport or driver’s license) and proof of address (e.g. bank/credit card statement, internet bill).
Step 4: Deposit fiat currency
Once your account is verified you can get started! Follow the instructions to deposit fiat funds into your new eToro account. Having fiat currency in your eToro account is a necessary step to buy ETH.
Step 5: Make your first Ethereum purchase
Now that your funds are available in your account, you’ll be ready to go! Simply navigate to the Ethereum page and make your first purchase.
Why buy Ethereum (ether) on eToro?
On eToro there are never any outages. You can trade Ethereum 24-hours a day, 365-days a year.
Buy ether fractionally, so you don’t need to buy a full ether to get started.
Easy to use:
The eToro interface is simple and great for beginners to get started.
On eToro, fees are always transparent, with no hidden charges.
Before you buy real crypto, get a FREE eToro demo account, with $100,000 in virtual money, to test your trading strategy with practice funds.
Still not sure what trades to make? Use eToro’s CopyTrader to mimic the trades of your favorite crypto investors.
What is Ethereum?
What is Ethereum anyway? Ethereum is a blockchain network designed for decentralized computing. As an open-sourced protocol, developers can create decentralized applications (dApps), design smart contracts, and even create their own cryptocurrency tokens all backed by the Ethereum blockchain.
What are the fees for buying ether with eToro?
You can trade ETH on eToro without worrying about unexpected or hidden fees. eToro fees are straightforward and easy to understand. When using the platform or eToro Wallet, all spreads are applied “round-trip,” meaning you are charged this percentage when you buy, but the fee is adjusted when you sell.
|Withdrawal (minimum $30)||$5|
|Send/receive transaction (Wallet)||$0|
|Crypto-to-crypto conversion (Wallet)||0.1%|
|Crypto conversion (Wallet, minimum 0.3 ETH)||0.006 units|
The advantages of buying Ethereum
Ethereum is right up there with Bitcoin as one of the most well-regarded cryptocurrencies in the crypto market. As a result, buying Ethereum has its advantages:
- Can be easily traded or exchanged for other cryptocurrencies.
- Used at a growing number at online and brick-and-mortar retailers.
- Gives you access to a number of decentralized applications (dApps) and smart contract platforms.