Crypto FAQ

For clients of eToro (UK) Ltd, all leveraged and short transactions in cryptocurrencies are CFD transactions. Non-leveraged long (BUY) positions are underlying cryptocurrency transactions (where we are buying the actual asset on your behalf).

For clients of eToro (Europe) Ltd.:

• All SELL (SHORT) cryptocurrency transactions are CFDs.
• Non-leveraged long (BUY) cryptocurrencies transactions are underlying cryptocurrency transactions (actual asset).
• On or around 12th August 2019, BUY cryptocurrency transactions which utilize X2 leverage (excluding CopyTrading and CopyPortfolio transactions) will also be underlying cryptocurrency transactions. Such transactions will be subject to “Margin Trading” rules as described below. This offering does not apply to clients who are residents of China.
• Any cryptocurrency transaction with leverage higher than X2 (if existing) are CFD transactions.

For clients of eToro Aus Capital PTY Ltd.:

All cryptocurrency transactions are CFDs.

As described above, on or around 12th August 2019, BUY cryptocurrency transactions with X2 leverage (excluding CopyTrading and CopyPortfolio transactions) of eToro (Europe) Ltd. client’s (excluding Chinese Residents) will be subject to Margin Trading in the underlying assets, and not CFD transactions.

“Margin Trading” allows you to take a loan from eToro against your funds, enabling you to have greater exposure to cryptocurrencies.This carries an overnight fee as specified in our fees page, and your cryptocurrencies (plus any additional cryptocurrencies created as a result of forks) shall serve as collateral for your loan. For more information regarding eToro’s hard fork policy, click here.

Please be aware that when using “Margin Trading”, you will not benefit from the protection available to clients who trade regulated products such as the CySec Investor Compensation Fund and the Financial Ombudsman Service. You will continue to benefit from the rules and regulations relating to our obligations for the best execution of your orders and compliance with rules for client assets to the extent possible.

Cryptocurrencies bought on your behalf under “Margin Trading” will be held in a segregated client money account and all the features of the original transaction will remain the same, including the number of units and the open price. Please note that you will not have the ability to transfer these cryptocurrencies bought with loan from the eToro Trading Platform to the eToro wallet. Only cryptocurrencies with no leverage/loan are transferable.

Please be aware that using a loan to trade increases margin gains as well as losses and that in “Margin Trading”, you can lose more funds than you deposited.

Yes, you can now purchase cryptocurrencies directly to your eToro wallet with your credit card through Simplex. Read more here.

• Currently, Bitcoin, Ethereum and XRP are eligible for transfer to the eToro wallet. More coins will follow gradually.
• Only long, non-leveraged positions that are backed by real coins (not CFDs) can be transferred to the eToro Wallet.
• Coin transfer is open to all users. However, there are limitations based on the time of your initial deposit, eToro Club tier and payment method. See table below for number of days required from First Time Deposit date vs club tier and payment method used:

The option to transfer coins from the eToro trading platform to the eToro Wallet can be found on the ‘Edit Trade’ screen. In order to get to it, please go to your Portfolio screen and click on the relevant trade. The option will appear under the ‘Invested amount’ in the ‘Edit Trade’ screen.

Once you select this option, a new pop-up will appear, showing you the amount of units in the trade, the fee that will be paid for executing this transaction and the final amount of units (coins) that you will receive in your wallet. The relevant crypto position will remain open on the platform until the transaction is approved and processed by eToro, at which point the position will close and the coins will be sent to your wallet.

Coins that were transferred from the eToro trading platform to the eToro Wallet cannot be transferred back.

The profit or loss of a position on the eToro trading platform is part of the value of the entire trade. When a transfer of coins from the eToro trading platform is approved, the relevant position is closed in your eToro trading account and the value of that trade (invested amount + profit/loss) is taken out of the account balance. The coins are then sent to the eToro Wallet.

If a person you are copying on the eToro trading platform transfers their crypto coins from the platform to the eToro Wallet, the copied position/s will be closed and the funds will be taken out of the copy and moved to your account balance (Copy Dividend feature on the eToro trading platform). These actions are taken in order to maintain the copy ratio and reflect the actions that were taken in the copied trader’s account.

It may take up to 1 business day for eToro to process the request to transfer coins from the eToro trading platform to the eToro wallet. From the moment that the request is processed on our side, it may take additional time for the coins to appear in the wallet.

Please note that requests will not be processed on weekends (Saturdays and Sundays) and/or national holidays.

It is only possible to transfer a position in its entirety. Partial positions are not transferable.

Opening an XRP wallet incurs a fee of 45 XRP, which needs to be available upon opening the wallet. This is why at eToro, clients need to initiate an XRP transfer in order to open an XRP wallet.

These 45 XRP are what Ripple calls the reserve, which is comprised of 20 XRP base reserve and 25 XRP required to manage a multi-sig XRP wallet. This reserve must be held as a minimum in the address and cannot be sent to other addresses.

As part of an eToro promotion, the 45 XRP fee will be waived until 31.03.2019. After that time, the fee will be charged from the amount transferred.

eToro acts as a custodian for its clients’ holdings on the platform. eToro, our trading and investment platform, is backed by cold storage wallets that utilise dedicated FIPS 140 military grade hardware to secure the private keys. All this is done in order to provide our clients with a highly secure platform and to allow eToro to identify and mitigate potential threats before they are able to compromise our platform.

As per eToro’s security protocols, we do not share our wallet addresses, as doing so may expose our holdings to potential attacks.

Profits on your positions will remain yours. You have the option to set a Take Profit level on the platform, but if there is none set, then the position will remain open until you close it manually.

In order to have an eToro Wallet, you need to be a fully verified eToro user.

Bitcoin, Bitcoin Cash, Ethereum, XRP, Litecoin, and XLM. More coins will be added in the future.

For the full list of countries, click here.

Only verified eToro users are able to transfer coins from the eToro trading platform to the eToro Wallet. In addition, and as part of our gradual rollout, during the initial stages of release, only clients who have an account with eToro (Europe) Ltd., regulated by CySEC, will be able to use the transfer feature.

eToro takes security very seriously. We use a number of security mechanisms, including multi-signature technology, to protect your wallet and its key. For security reasons, we cannot disclose further details.

eToro secures your private key using market-leading security technologies. For security reasons, we do not elaborate on the specific security measures.

At first, only Bitcoin, Ethereum, and XRP will be available for transfer to the wallet. Other coins will follow over time. Unfortunately, we cannot commit to a specific time frame.

Yes, you can, providing they are supported by the wallet and subject to the various rules and regulations that may apply.

Please note that while we employ the highest level of security measures to protect your wallet assets, holding hot (online) cryptoassets is not without risk.

You are strongly advised to protect your mobile device with adequate security measures at all times. Such measures include, among others, an access PIN, biometric verification, and two factor authentication when logging into the wallet app.

The eToro Wallet provides clients with the ability to store cryptocurrencies, as well as wallet-to-wallet transfers. In addition, the eToro Wallet enables clients to transfer their crypto positions off the eToro platform and to the wallet. You can also easily convert one crypto to another. In the long term, eToro will add support for more crypto coins, serving as a link between the eToro client and the crypto market.

ERC20 tokens are cryptoassets designed and used solely on the Ethereum platform.

They follow a list of standards so that they can be shared, exchanged for other tokens, or transferred to a crypto wallet. They are created by a base ruled SW program called SmartContracts.

In order to create an ERC20 wallet in the eToro Wallet, an ETH wallet must first be created.

An ETH wallet should first be created and only then can an ERC20 wallet be created. A relevant notification will also be displayed before you are able to create the ERC20 wallet.

If you did not have an ETH wallet prior to adding an ERC20 token, an ETH wallet was automatically created as ERC20 tokens make use of the Ethereum blockchain.

Eventually, the eToro Wallet will support a total of 120 ERC20 tokens. We will be releasing support for multiple tokens gradually. During our launch phase, we plan on releasing the following tokens: MKR, BAT, OMG, EURX and USDX.

We are adding coins gradually. Please check back with the wallet periodically to see the growing list of coins.

No. At present, ERC20 tokens can only be sent from, or received into, the eToro Wallet.

You may choose from the tokens supported by the eToro Wallet. However, you cannot add smart contracts that are not supported by the Wallet.

Yes. However, it is your responsibility to verify that the destination address to which you are sending tokens, supportsboth smart contracts and the token you are sending.

You may not send non-supported coins. If a non-supported token is sent into the wallet, you will not see it in the wallet and you will not be able to extract it from the address. You will, however, be able to see the coins in the Ethereum blockchain explorers.

Not at present, but we will add this feature in the near future.

No. Coin transfer from the eToro Wallet to the eToro platform is not supported.

You may send tokens that are supported by the eToroX exchange, subject to the exchange’s policies.

You may transfer tokens subject to eToroX’s exchange policies, tokens supported by the Wallet, and according to Wallet policies.

It is possible you have previously sent ERC20 tokens into your address. If these tokens are now supported, a wallet for this token will have been created automatically for you.

We have only just launched support for ERC20 tokens, and are constantly revising our services. We will be expanding support for additional services according to management decisions in the future.