Are you looking to buy BTC using a credit or debit card? eToro is one of the best platforms you can use for this purpose.
The exchange is a highly reliable one in the crypto industry, with a high level of security and government regulation. eToro is also known for its unmatched social trading platform which allows new and inexperienced traders to copy the trades of more experienced traders.
This is an excellent way for the new traders to learn trading while earning from the strategies of established traders.
On eToro, you can deposit funds using a range of options, including bank transfer, PayPal, debit/credit cards and many others.
If your preferred method is a credit or debit card then this guide is for you. We will show you how to use cards to buy Bitcoin on this reputable exchange. You should note though, that credit card transactions carry higher fees than any other methods you’ll use.
Why Cards?
In case you’re wondering why we’re focusing on cards, it is because of a number of reasons, the first being that the transaction is usually instant. This saves time that you would waste waiting for other options.
Secondly, using cards is more convenient than any other method. Most people have used debit or credit cards before, so they can easily use them on an exchange like eToro.
Thirdly, card transactions are full-proof on secured exchanges like eToro. It is advisable to always be sure you’re on the correct platform to avoid falling into phishing traps.
With this in mind, let’s go into the steps to buy Bitcoin using a credit or debit card on eToro.
Buying BTC
To buy BTC, you’ll need to have a verified eToro account. If you don’t have that yet, follow these steps to create and verify one.
- Go to the official eToro website and create an account by providing your email address and creating a password.
- Confirm your email address by going to the address you provided and clicking on a link or button that is sent to you through the email. The next step is to verify the account.
- Click on the Verify button to start the verification process. You’ll need to provide extra information such as your home address, postal code, state and country etc. You’ll also need to provide a government-issued identity document such as your driver’s license or international passport. The platform will also require you to take a selfie to complete the process. Once this is done, proceed to add funds.
Adding Funds
- Click on the Deposit Funds Button to deposit money in your account. The default currency is USD, but you can change it to whatever currency you’re using by simply scrolling down and selecting. The default method of deposit is debit/credit card which we’re using so no need to change.
- Next, enter your card number, expiry date, and CVV. The platform will automatically detect if it is a debit or credit card. Remember, the card has to be yours with the same name registered on eToro for security reasons.
- Click on the Deposit button and you’re done. You can now proceed to buy BTC.
Buy BTC
To buy BTC,
- Click on the Buy BTC button and provide the required information.
- Choose which fiat currency you wish to use, just like when you were depositing.
- Enter the amount you wish to spend and you’ll see the amount of BTC you’ll get automatically.
- Review the transaction details and if you’re happy with it, confirm the transaction.
Your purchase will be processed and the BTC will be deposited into your eToro wallet immediately.
What’s Next?
After buying your BTC, the next decision is what to do with it. If you wish to trade actively, it’ll need to remain on the exchange. If not, it is better to withdraw to your personal wallet for safe keeping.
