Can eToro send Bitcoin?

eToro allows direct Bitcoin withdrawals through its dedicated eToroX crypto accounts, subject to fees, minimum limits, and enhanced verification requirements.

Sep 27, 2024 at 05:06 pm

Can eToro Send Bitcoin?

1. Overview

eToro is a popular crypto exchange and trading platform that allows users to buy, sell, and trade cryptocurrencies. However, when it comes to sending Bitcoin (BTC), there are certain limitations to consider.

2. Availability of Bitcoin Withdrawals

• Regular Accounts: Standard eToro accounts do not support direct Bitcoin withdrawals. Instead, users can withdraw funds in supported fiat currencies (e.g., USD, EUR, GBP) and then use an external wallet or exchange to purchase Bitcoin.
• eToroX Crypto Accounts: Dedicated eToroX crypto accounts allow for direct Bitcoin withdrawals. Users can transfer their BTC to an external wallet or exchange.

3. Fees and Limits

• eToroX Withdrawals: eToroX charges a withdrawal fee of 0.0005 BTC for each transaction. There may also be network fees associated with the transfer.
• Minimum Withdrawal: The minimum withdrawal amount for eToroX is 0.002 BTC.

4. Verification Requirements

Before withdrawing Bitcoin from eToroX, users must complete enhanced due diligence (EDD) verification. This includes providing additional personal and financial information to meet regulatory compliance requirements.

5. Withdrawal Process

To withdraw Bitcoin from eToroX:

1. Log in to your eToroX account.
2. Navigate to the "Dashboard" and select "Withdraw."
3. Choose "Bitcoin (BTC)" as the withdrawal currency.
4. Enter the amount of BTC you wish to withdraw and the recipient's wallet address.
5. Review the withdrawal details and confirmation code before submitting the request.
6. Additional Considerations

• Users should ensure that their recipient's wallet supports the withdrawal of Bitcoin.
• Transactions may take several hours or days to process, depending on network congestion and verification timeframes.
• eToroX may temporarily suspend withdrawals due to market volatility or maintenance purposes.

Conclusion

While eToroX offers direct Bitcoin withdrawals, regular eToro accounts do not support this feature. Users must consider the associated fees and limits, verification requirements, and withdrawal process outlined above before sending Bitcoin from eToro.