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 on the exchange, 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 you get more for your money. Fees are always transparent, with no hidden charges.
Before you buy real crypto, get an eToro Practice Account 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. 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)||$0|
|Crypto conversion (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.
“eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.”
This information is for educational purposes only and should not be taken as investment advice, personal recommendation, or an offer of, or solicitation to buy or sell, any financial instruments. This material has been prepared without having regard to any particular investment objectives or financial situation and has not been prepared in accordance with the legal and regulatory requirements to promote independent research. Any references to past performance of a financial instrument, index or a packaged investment product are not, and should not be taken as a reliable indicator of future results. eToro makes no representation and assumes no liability as to the accuracy or completeness of the content of this guide. Make sure you understand the risks involved in trading before committing any capital. Never risk more than you are prepared to lose.