Does eToro have a Wallet?

BlogJanuary 6, 2022 – The broker you should try to trade cryptos & US stocks. Learn more!

A crypto wallet is software used to store cryptocurrencies. Specifically, cryptocurrency wallets keep cryptography of public and private keys, making it possible for traders to trade cryptocurrencies. The cryptocurrency market is growing, so the need for crypto-asset security is also of the most concern. Crypto exchanges are all trying to develop wallets for their customer and eToro is no exception. This article helps you learn more about the eToro e-wallet.

Does eToro have a Crypto Wallet?

Yes. eToro believes that all assets will be tokenized in the future and cryptocurrencies are the first step in this journey. As a result, eToro’s team of experts believes in cryptocurrencies’ opportunities to investors. It has established the eToro Money e-wallet to store cryptocurrencies securely.

eToro Money is one of the most secure digital wallets available, with many high-level security features against unauthorized access, including multi-signature functionality, DDoS protection, and standardized protocols. . Once the coins are in the wallet, they are stored on the blockchain (hot wallet).

With eToro Money, eligible users can:

  • Transfer cryptocurrency from the eToro trading platform.
  • Send/receive crypto to and from other wallets
  • Exchange cryptos.
  • Buy crypto assets

eToro Money is now rolling out in many countries. eToro customers can download eToro Money to their phones using the Play Store on Android devices or iOS.

What types of assets eToro Money offer?

Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Stellar, and XRP are all allowed to transfer, send, receive, buy and convert.

Tron is allowed to transfer, send and receive in the following countries: Austria, Belgium, Denmark, Finland, Ireland, Malaysia, Norway, Portugal, Romania, Singapore, Spain, Switzerland, the United States, The United Arab Emirates.

How to transfer cryptos to eToro Money?

Step 1. In the trading platform, click the Portfolio tab.

Step 2. Select the cryptocurrency you want to transfer.

Step 3. You will then see all your open trades for that cryptocurrency. Click on the specific trade you want to transfer to eToro Money.

Step 4. On the “Edit Trade” screen, click “Transfer to Wallet”.

Step 5. Check the money transfer details again. Click on “Transfer” to continue.

Note: It can take up to one business day to transfer cryptocurrencies from the eToro trading platform to eToro Money.

Step 6. Complete the money transfer. Then you will receive a notification to confirm that your request has been submitted. The transaction line will show “Pending money transfer”. You can cancel your transfer request until the transfer is complete.

After your cryptocurrency is transferred to the eToro wallet, you can convert it to another cryptocurrency or deposit it in another wallet.

Is it possible to transfer money from eToro Money to an eToro account?

No. eToro’s security protocol only allows transfers from the eToro platform to a wallet. In other words, once the cryptocurrency is transferred from the eToro portfolio to their eToro wallet, you cannot transfer them back to the eToro trading platform.

Read more: etoro

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