Traders are flocking to Bitcoin in search of digital gold, but the journey can be costly and confusing, with hidden fees and cumbersome interfaces, making it difficult to navigate the market successfully.
eToro makes cryptocurrency trading costs crystal clear. There are no fees buried in the fine print, and an intuitive user interface helps you avoid expensive misclicks.
Be aware of hidden fees
On eToro, trading costs are contained in a single charge. The percentage of the spread for buy and sell is the entire cost of the trade — zero fees, no hidden fees, nothing!
Depositing US dollars on eToro is completely free, and a flat fee of $5 is charged to cover the processing cost of withdrawals. If you are depositing in another currency, an FX conversion fee may apply, but costs are made clear in advance, unlike other platforms that often levy unstated conversion fees.
| Fee example | |
| Initial investment | $2,000 USD |
| BTC buy price* | $20,000 USD |
| Position size | 0.1 units |
| eToro typical spread for BTC | 0.75% |
| Total round trip (buy and sell) fees: | $15 USD |
| (0.75% *20,000 USD * 0.1 units) |
*Example price
To buy and sell 0.1 unit of Bitcoin in a round trip when the price is at $20K, you would pay a single spread fee of 0.75%, or $15 USD.
Most other trading platforms charge a set commission as a percentage of the position size. But high spreads — the difference between the buying and selling price — mean the real cost is higher.
In addition, account maintenance and inactivity fees can be hidden away in the terms and conditions, eating into profits and adding to losses each time you place a trade.
Even depositing funds can cost up to 5%, with traders often paying their card service providers significantly more for the convenience of paying by card, leaving them with a loss before they have even started trading.
When the time comes to withdraw, traders can be hit with more costs, paying super high flat fees to send funds back to a bank account.
With eToro, we take care to do things as clearly and as simply as possible — you pay only for the spread, with no additional transaction fees.
Smoothly navigate the market
Instead of a complex interface that leaves new traders one misclick from disaster, eToro offers a seamless user experience.
Traders can engage with the basic mechanics of the Bitcoin market through a streamlined process that begins the moment funds are deposited.
eToro is one of the only exchanges supporting PayPal, along with multiple other deposit methods, including bank transfer, card payment, Skrill, Neteller, WebMoney, and Yandex (depending on region). With funds on the platform, you can then buy and sell easily through an intuitive and user-friendly interface, making managing your portfolio completely painless.
To test the water, eToro gives you a free $100,000 demo account. This lets you build a virtual portfolio and test innovations like copy trading, risk free.
This unique trading toolkit, combined with clear pricing and an intuitive user interface, means Bitcoin trading is no longer costly and confusing.
This ad promotes crypto investing, which is highly volatile and unregulated. Trading cryptoassets with leverage is regulated and comes with a high risk of losing money. Buying cryptoassets is unregulated in most EU countries and therefore is not supervised by EU regulatory frameworks and carries no EU protections. Your capital is at risk.
Image by Christel SAGNIEZ from Pixabay
Source: https://www.newsbtc.com/etoro/dont-get-hoodwinked-by-hidden-bitcoin-trading-fees/