Review:Min. deposit: Cryptocurrencies:Type.
4 out of 5 stars (4 / 5)$ 200Supports 120+Digital wallet for mobile devices

Etoro wallet logo

Etoro is one of the biggest trading platforms in the world. It supports trading with more than 2,000 different markets via CFD (Contract For Difference) and real value. Etoro has become so popular because of the offer to trade cryptocurrencies. In 2017 traders could invest in cryptocurrencies only via CFDs. Today Etoro supports exchange and a wallet. In this article, we will show you our experiences with the Etoro wallet and its features. Should you really use this wallet to trade cryptocurrencies? – Find out in our Etoro wallet review.

Official website of the Etoro wallet

Official website of the Etoro wallet

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What is the Etoro wallet? – Introduction

The recently launched Etoro wallet has the latest detailed cryptocurrency wallet. This is a new addition to this popular social trading platform. Since the wallet is synchronized with the website account, it can be used by any Etoro member who has already been verified. This wallet app allows users to buy or sell assets, transfer assets between wallets, or exchange one type of cryptocurrency for another. You can also use your wallet to store digital coins.

Etoro Wallet is a mobile crypto wallet that is accessible in multiple countries globally. The owner and operator or manager of the Etoro wallet is Etoro. The company (eToro X Limited) is under the regulatory surveillance of the Gibraltar Financial Services Commission. You can configure Mobile wallets can be set up for free and only pay when you make transactions or when you convert from one crypto coin to the other.

In addition to securely storing digital coins and tokens, the eToro wallet offers an embedded exchange that allows you to convert one cryptocurrency to another without making a deposit or withdrawal. You can also buy cryptocurrency straight from your wallet utilizing a bank card or credit card.

First facts about the Etoro wallet:

  • A regulated company by the Gibraltar Financial Service Commission (eToro X Limited)
  • The Etoro broker is regulated in multiple countries
  • Buy, sell, receive, and exchange cryptocurrencies
  • Exchange fiat money in cryptocurrencies easily
  • Mobile digital wallet

(Risk Warning: 71% of retail trading accounts lose money)

Supported cryptocurrencies with the Etoro wallet

The Etoro wallet provides support to multiple crypto coins, including various ERC-20 tokenized digital currencies. To send receive these tokens, you must first set up or generate an Ethereum (ETH) wallet. You only have two limits when you want to send supported cryptocurrencies to other wallets: the transaction limit and the daily limit. The majority of cryptocurrencies have a daily of 50,000 USD and 200,000 USD correspondingly.

Etoro wallet supported cryptocurrencies

Etoro wallet supported cryptocurrencies

The Etoro wallet allows you to trade more than 120 different crypto coins including:

Creating a wallet for most coins is free, but there are two concessions. The first involves the creation of a Ripple (XRP) wallet charged at the rate of 45XRP. This charge is divided between 20XRP for backup and 25XRP needed to operate an XRP wallet with multiple signatures.

Similarly, you need to insert 2.5XLM when opening your Stellar wallet (XLM). These funds are not fees, but cannot be used, used, or withdrawn. This deposit allows you to generate an XLM wallet to offer access to the Stellar blockchain.

Connectivity

The Etoro wallet can be downloaded on mobile systems including Android and iOS systems. Since it’s a mobile wallet, you don’t need to link up to your computer through USB or Bluetooth. Instead, you link up to Etoro X straight through the mobile internet.

Etoro wallet download

The wallet is a section of the eToro group, so you can easily use it to make a transfer on the eToro trading platform. These transfers are accessible in Bitcoin, Ethereum, Ripple, Litecoin, Bitcoin Cash, and XLM coins. To make such a transfer, you can do something like this:

On the portfolio page, find the position you want to liquidate and transmit on the page dubbed “portfolio”

Click on the “Edit Trade” window.

Choose the option “Transfer” beneath the “Invested” heading. You are allowed to only transfer positions that fulfill the requirements of the platform to the Etoro wallet.

Installation and configuration

After downloading the Etoro wallet app, you must first register for a new account. If you already have an account authenticated for the Etoro platform, you can log in using the same credentials. Alternatively, you can open a new account directly from Etoro.

Before buying cryptocurrencies you should know the limits:

There are certain limits for buying cryptocurrencies with fiat money in the wallet. See the table below.

(Note: The limits are always changing on the platform)

Coin: Min. transaction:Max. transaction:Max. / Day:Max. / Month:
USD$ 125$ 10,000$ 20,000$ 50,000
EUR€ 114€ 453€ 200€ 51,345
GBP£ 56£ 234£ 200£ 23,435
Note:

Transactions are limited to $ 50,000 per transaction and max. $ 200,000 per day.

What is an Etoro wallet?

Etoro, which launched its wallet in early November 2018, mentioned in a statement that it will add many additional features soon. As of this writing, the ability to transfer bitcoins from your eToro account to your wallet has been limited to Platinum, Platinum+, and Diamond Etoro Club members. It’s time to review what the Etoro wallet has to offer and to see if it’s worth using.

How to get started with eToro wallet

The following steps will show you how to trade your first cryptocurrency:

1. Sign up

Click the button below and fill out the online form with a strong email address, name, and password.

Create an account with Etoro

(Risk Warning: 71% of retail trading accounts lose money)

2. Deposit of funds

You can deposit directly with banknotes or cryptocurrency. To do this, click on the icon in the upper right corner, select “Deposit” and follow the instructions.

Supported payment methods of the Etoro wallet

Supported payment methods of the Etoro wallet

Supported fiat payments are: 

  • Credit Cards
  • PayPal
  • Skrill
  • Neteller
  • Bank wire
  • PayPal
  • And some more E-Wallets

3. Start trading

Go to a variety of trading platforms that you can use to buy and sell cryptocurrencies that you deem appropriate.

Trade cryptocurrencies with the Etoro wallet

Trade cryptocurrencies with the Etoro wallet

Etoro wallet registration

Etoro Wallet registration

Etoro Wallet registration

To sign up straight using the eToroX, do the following:

  • Go to the eToro Wallet webpage and hit on the button dubbed Join, which you’ll find on the upper left side of the page.
  • Key in your email address and select a strong password.
  • Select your hometown and accept the terms and conditions.
  • Click “Create Account”.

The Etoro wallet customer service professionals instantly send you a confirmatory message that requires confirmation. Then you need to provide documents to verify your identity and account.

Verifying your account

To begin utilizing your eToro wallet, you ought to verify your account. If you previously have a verified account on the Etoro trading platform, this requirement is waived.

Everything you need to manage your Etoro wallet account is stated below:

  • Provide all necessary information, such as mobile number, name, and your resident country.
  • Support your statement with a government-issued Identity card like a passport or driver’s license.
  • Confirm your mobile number.
  • Send proof of address. The documents supported include new electricity bills or bank statements, tax documents, or residence permits.

Depending on the license, Etoro Wallet may need extra documents even after the full verification of the account.

(Risk Warning: 71% of retail trading accounts lose money)

Coin selection:

The original offerings of Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC) digital coins are advantageous compared to many other cryptocurrency wallets on the market. The promise to add more cryptocurrency means eToro plans to become one of the most complete cryptocurrency wallets. The fact that eToro works through broker exchanges in 13 currencies naturally means that you expect this wallet to eventually receive the same amount of coins.

Some of the supported coins of the Etoro wallet

Some of the supported coins of the Etoro wallet

Mobile and desktop

eToro Wallet can only be used on Android and iOS mobile devices.

Etoro wallet fees

There is no exact date yet, but the company said in a statement that Etoro’s wallet fees will be competitive. The broker platform is well known for offering reasonable fees, so this wallet is likely to be fair in terms of price as well.

At the moment there is a Taker and Maker fee:

  • Maker Fee 5 bps
  • Taker Fee 5 bps

For buying crypto on the trading platform (fiat to crypto) you will pay: 

  • Bitcoin 0.75%
  • Ethereum 1.90%
  • Bitcoin Cash 1.90%
  • Ripple 2.45%
  • Dash 2.90%
  • Litecoin 1.90%
  • Ethereum Classic 1.90%
  • Cardano 2.90%
  • IOTA 4.5%
  • Stellar 2.45%
  • EOS 2.90%
  • NEO 1.90%
  • Tron 3.5%
  • ZCASH 3.5%
  • Binance Coin 2.45%
  • Tezos 5%

Etoro secure wallet

Users log in to the app with their existing eToro credentials to avoid the risk of requiring additional passwords. Advanced security features like two-factor authentication and multi-signal security can be used to make this environment completely secure. eToro is a well-known name in the cryptocurrency investment world, so the wallet has the advantage of being connected with a trusted brand after launch.

Using Etoro wallet

Opening an Etoro wallet is easy. You don’t need to be an internet or cryptocurrency expert to do this quickly and safely. As mentioned earlier, the eToro wallet can be used by all legitimate users of the eToro platform. So, if you haven’t registered yet, you need to register before opening your wallet. If you are already a user, you can open your wallet immediately.

Receive crypto coins from other wallets

Crypto coins supported for eToro wallets can be easily accessed from other wallets. Different steps may be required depending on the sender’s wallet. Nonetheless, the sender needs an eToro wallet address to perform the transaction. To do this, you can do something like this:

  • Log in to your eToro wallet account.
  • Select “Balance” and click on the desired asset.
  • Copy the specified address and send it to the sender.

To log in to your eToro wallet:

Depending on the device you want to use, you need to search for the app in the App Store or Google Play Store. If you don’t see an app for your country, we recommend contacting eToro to see when your wallet is available. Once made available at your location, you can securely download the eToro wallet app to your mobile device and then log in with your existing testimonials. The interface you want is easy to use and intuitive, so you can start using it right away and transfer money.

Is the Etoro wallet a scam?

But is the eToro wallet safe to use? We believe in it and that’s why. The eToro platform is highly regarded, has been around for a long time, and does not report any major issues or hacking incidents. So, there is no reason to believe that this new eToro wallet is some kind of scam or the brand doesn’t protect consumers. EToro is fully regulated and has over 10 million registered users.

It has been working since 2006 and is one of the most trusted names in the cryptocurrency industry. The fact that the new wallet uses the same security information as the default account increases the confidence that you can trust this wallet. The eToro wallet is a safe place for cryptocurrency. The eToro wallet can be used on both Android and iOS devices.

Are there any better alternatives to Etoro wallets?

There are cryptocurrency investors who avoid the need for a wallet and prefer to opt for the CFD option instead. Sometimes it’s because of concerns about potential security issues that can arise. However, you don’t have to worry about issues like this, as seen in this new eToro wallet review. However, it’s worth remembering that you can manage your eToro account without any kind of wallet.

You can read our featured Etoro review to find out how this is done on the platform. For some, this is the best option for a simpler life, while others prefer to see digital assets in their wallet on their phone. If you are looking for other wallet options, we already review the BTC wallet, the popular Trezor wallet, and many other wallets to help you make an informed choice.

How is the Etoro Wallet different?

The Etoro wallet allows you to store a variety of cryptocurrencies that support Bitcoin, Bitcoin Cash, Ethereum, and Litecoin in one place. EToro has promised to add support for additional coins shortly.

The Etoro wallet currently supports the transfer of coins purchased on the etoro.com platform. You can then transfer these coins to other wallets or offline storage. Like all wallets, there are transaction fees charged separately by the blockchain platform and eToro.

The Etoro wallet app can be downloaded from the Apple Store and Google Play Store. To use the eToro wallet, you must first open an account at eToro.com and verify it.

Why use the Etoro wallet?

EToro is a global financial technology company serving over 6 million customers. It was created in 2007 as an online trading platform that facilitates currency trading. Since then, it has developed into a social trading network for investors. CFD pioneered cryptocurrency as early as 2013 and allowed investors to buy and sell bitcoin and many other coins in 2017.

The eToro wallet is provided by eToro X Limited, a company registered in Gibraltar under number 116348. At the time of writing this document, the company has received the Gibraltar Financial Services Commission’s “state” approval for its application for distribution Ledger Technology (DLT) vendor license application.

Fees and restrictions

Downloading and setting up an Etoro wallet is free, but there are fees for the wallet you should be aware of. When you convert fiat currency to cryptocurrency using Simplex, you will be charged a 4% fee, which is automatically added to the final price. For security reasons, there is a limit to the amount you can convert every day.

All transactions must have a minimum of 125 dollars or equivalent in fiat currency. The maximum amount of the transaction cannot exceed $10,000. Also, the eligible daily limit is $20,000. A fiat limit of $50,000 per month or equivalent also applies. But we also found another statement that said that the maximum limit per day would be $ 200,000.

The Etoro wallet does not charge any fees for sending or receiving cryptocurrencies. However, blockchain fees charged by the appropriate cryptocurrency network apply. The sender must pay.

Pros of the Etoro wallet:

  • Part of the highly respected and managed Etoro platform.
  • Good initial coin selection, there will be more money in the future.
  • High security
  • Supports multiple languages such as the base Etoro platform.
  • Easy to start with an easy-to-use interface.
  • Synchronizes with existing Etoro user accounts for easy access.

Cons of Etoro wallet:

  • Not available for desktop and laptop users.
  • Not all cryptocurrencies are included.

Our conclusion on the Etoro wallet – Good chance for investors

The Etoro wallet app allows cryptocurrency investors to manage their coins most conveniently on the go. This is a smart option if you want to see the coins in the wallet on your smartphone or tablet. Or, if it suits you best, you can use Etoro without a wallet. Even if you are an Etoro member, you are not obligated to use your wallet.

If you choose to open this type of wallet, you will find it a quick and easy process. First of all, it is a secure and accessible wallet designed to make it easy to invest in hassle-free cryptocurrencies. The consensus on this Etoro wallet review is that it is a useful service that can be of great help to many investors.

Etoro presents a secure and safe wallet for crypto traders. The fees are a little bit higher than with competitors but it is very easy to use and user-friendly. 4 out of 5 stars (4 / 5)

(Risk Warning: 71% of retail trading accounts lose money)