Introduction
One of the newest features of eToro is their online wallet that can be used by every active user to buy and sell, transfer or convert from one cryptocurrency to another. This section will discuss everything you need to know about this wallet.
| 👛 Wallet Name | eToro Money |
| 🖥️ App | iOS, Android |
| ₿ Supported Crypto | 120+ |
| 🏛️ Regulation | Gibraltar Financial Services Commission |
77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
eToro Money Wallet Security Features
One of the key advantages of this wallet is its advanced security features, which are designed to protect users' cryptocurrencies from hacking, theft, and other security threats.
Let's take a closer look at these security features in detail:
- Multi-Signature Technology
It uses multi-signature technology to secure users' cryptocurrencies. This basically means that multiple signatures are required in order to access the wallet and authorize transactions.
For example:
The wallet may require both the user's private key and a separate key held by eToro in order to authorize a transaction. This makes it more difficult for hackers to gain access to the wallet and steal cryptocurrencies. - Two-Factor Authentication
Two-factor authentication or 2FA is utilized to further enhance security. This requires users to provide two forms of identification in order to log in to the wallet.
For example:
As the user, you may be required to enter a password and provide a code sent to your phone or email. This ensures that only authorized users can access the wallet. - Cold Storage
For storing cryptocurrencies, eToro makes use of cold storages. To begin with, this is not like a refrigerator or freezer. It's a term that refers to the practice of storing cryptocurrencies offline, away from the internet, where they are less vulnerable to hacking and other security threats. This means that even if the eToro wallet is hacked, users' cryptocurrencies remain safe. - Additional Security Measures
In addition to the above security features, there are a number of other security measures that they employ.
For example:
The wallet has a 24/7 monitoring system that detects and responds to security threats in real-time. The wallet also encrypts all user data to prevent unauthorized access.
77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
eToro Wallet vs. Other Cryptocurrency Wallets
Security
eToro's wallet uses advanced security features like multi-signature technology, two-factor authentication, and cold storage to protect users' cryptocurrencies. This ensures that even if the eToro wallet is hacked, users' cryptocurrencies remain safe.
Other cryptocurrency wallets also use security features like two-factor authentication and cold storage, but they may not use multi-signature technology, which adds an extra layer of security.
Ease of Use
The eToro wallet is designed to be user-friendly, even for those who are new to cryptocurrencies. The wallet has a clean and simple interface that allows users to easily manage their cryptocurrencies. Additionally, the wallet allows users to buy cryptocurrencies directly within the app using a credit or debit card, bank transfer, or other payment method.
As for other crypto wallets, they vary in terms of ease of use. Some have complex interfaces that can be confusing for new users, while others are more user-friendly.
Supported Cryptocurrencies
What's great about the eToro Money wallet is that it supports a wide range of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and more. This allows you to manage all of your cryptocurrencies in one place. Additionally, the wallet will also allow you to trade cryptocurrencies with other eToro wallet users.
On the other hand, competitor wallets may not support as many cryptocurrencies or may only support a specific set of crypto assets.
Fees
eToro charges fees for certain wallet transactions, such as buying cryptocurrencies using a credit or debit card. However, these fees are generally lower than fees charged by other cryptocurrency wallets.
As for other crypto wallets, they may charge higher fees for certain transactions or may have additional fees that users need to be aware of.
The bottom line
Overall, the eToro Money wallet offers a number of advantages compared to other crypto wallets on the market. It's highly secure, user-friendly, and supports a wide range of cryptocurrencies. Additionally, the fees charged by eToro are generally lower than the fees that you may incur from other wallet service providers.
77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
App-Only Access
It is important to note that this wallet is only accessible via an installed app on a mobile device. It cannot be accessed through a web browser as it does not have a web-based platform.
This means that the eToro Money wallet can only be used on a device where the app is installed. Users who prefer to manage their cryptocurrency assets on a desktop computer or laptop will need to consider other options.
The eToro Money wallet's mobile-only access is a deliberate decision by eToro to prioritize security and user experience. The app provides a secure, end-to-end encrypted environment for users to manage their assets, reducing the risk of hacks and other security breaches.
Wallet App Compatibility
Before downloading the wallet app, check your device compatibility. The app is compatible with both Android and iOS devices. For Android, the app requires version 6.0 or later, while for iOS devices, the app requires version 11.0 or later.
| Operating System | Minimum Requirements |
|---|---|
| Android | 6.0 or later |
| iOS | 11.0 or later |
77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
How to Install the eToro Money Wallet App?
Installing the eToro Money Wallet app on your mobile device is a straightforward process that can be completed in just a few steps. Follow these simple steps below:
- Download the app from the app store
Open the Google Play Store or Apple App Store on your mobile device and search for "eToro Money Wallet". Once you find the app, click on "Install" to download and install the app on your device.
- Open the app and set up your account
Once the app is installed, open it and follow the on-screen instructions to set up your account. You will need to provide your email address and create a password. After that, you will receive a verification email that you need to click on to verify your account.
- Transfer funds to your eToro Money Wallet
Once your account is set up, you can transfer funds to your eToro Money Wallet. You can do this by using a cryptocurrency exchange or by sending funds from another wallet. Follow the on-screen instructions to complete the transfer.
- Start using the eToro Money Wallet
After you have completed the above steps, you can start using the eToro Money Wallet app to store, manage, and transfer your cryptocurrencies. The app allows you to buy and sell cryptocurrencies, view your transaction history, and monitor your portfolio performance.
77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Use of the eToro Wallet
eToro is foreseeing the future of investing that will involve making all assets to be tokenized and that the method of using crypto-currency will be the initial step of this transition.
This is where the eToro wallet comes in by providing users of the app a secured digital location to store crypto.
Using the eToro wallet include the following:
- Transfering cryptocurrency like Bitcoin from the eToro trading platform
- Sending and receiving crypto to and from other wallets
- Converting from one crypto to another (e.g. Bitcoin to Ethereum)
Take note:
The eToro wallet supports over 120 cryptocurrencies and has an in-app conversion feature that can support up to more than 500 varying crypto pairs.
Viewing Crypto Trades on the Wallet
Via the wallet, you can also keep track of your crypto trading portfolio. Simply click on the "Trades" tab and you will be able to see all the positions that you opened on the trading platform.
Clicking on the specific crypto will show you the total unit amount that you hold and the option to either view or trade them.
77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Sending Coins from eToro Wallet to Another Wallet
To send coins from your eToro wallet to another wallet is composed of these simple steps:
- Log into your eToro wallet via your mobile phone or device.
- Select the crypto-currency you want to send in the "Balance" tab.
- Click "Send". Afterward, set the amount you wish to send and key in the recipient’s public address. Click the camera icon to scan the QR code of the recipient.
- Double check the address then click "Send".
- Wait for the SMS message with the verification code on your mobile phone.
- Enter the verification code and click "Verify".
But wait, what is a “Public Address”?
A public address is "an outward-facing identifier" of your cryptocurrency wallet. It is the destination for any digital currency or crypto-currency you are buying. When you buy a crypto like Bitcoin, the seller will send a record of "ownership" to your "public address".
Basically, the public-address functions similarly to your bank account details when you are doing a traditional money transfer via a bank.
 public address on eToro Wallet.webp)
Transferring Crypto/Bitcoin from eToro to Wallet
Here are the steps to transfer crypto-currency from the eToro trading platform to your wallet:
- Select "Portfolio" from your profile menu.
eToro trading portfolio - Select the cryptoasset you want to transfer. A detailed list will show all of your open trades for that asset.
 trades on the eToro platform.webp)
All open Ripple (XRP) trades on the eToro platform - Select the specific trade you want to transfer.
Editing XRP trade on eToro - An "Edit Trade" pop-up window will appear. Select "Transfer to Wallet". Another pop-up window showing the transfer details will appear.
Transfer Coins screen on eToro - Select "Transfer" to conclude the transfer process. You can view and manage all of your wallet transfers on the "Cashflow" section of your "History" view.
Executing cryptocurrency transfer from eToro platform to wallet
Keep in mind:
It may take up to five business days for eToro to process the whole transfer request. Using your wallet, you can send and convert your crypto.
And also a warning: Once you transfer your crypto out of the eToro trading platform and into your wallet, you will not be able to send it back.
Wallet Fees
When it comes to transferring cryptoassets on the eToro Money wallet, there are some important factors to keep in mind regarding fees. The fees for transferring cryptoassets are calculated based on the size of the position, with larger positions having a maximum cap of $100 in units and a minimum fee of $1 in units. Additionally, there is a coin transfer fee that will be 2% of the transaction size.
| Crypto Asset | Fee | Minimum Fee | Maximum Fee | Minimum Position Amount |
|---|---|---|---|---|
| Bitcoin | 2% | $1 | $100 | 0.007195 BTC |
| Ethereum | 2% | $1 | $100 | 0.107588 ETH |
| Ripple | 2% | $1 | $100 | 17.7574 XRP |
| Litecoin | 2% | $1 | $100 | 0.084546 LTC |
| Bitcoin Cash | 2% | $1 | $100 | 0.02296 BCH |
| Stellar Lumens | 2% | $1 | $100 | 45.15749 XLM |
| TRON | 2% | $1 | $100 | 120 TRX |
| Cardano | 2% | $1 | $100 | 11 ADA |
It's worth noting that the final fee amount will only be determined once your request is processed. This means that while you can get an estimate of the fee, the actual fee may be different depending on a variety of factors. For example, the blockchain fee is external and variable, meaning that eToro can only give an estimate of this fee before you confirm the transfer.
eToro Wallet Fees - Did You Know?
These fees will be debited from your balance in the same asset that you're transferring. So, if you're transferring Ethereum, you'll need to have the necessary percentage of ETH available in your balance in order to cover the transfer fees.
How About a Ripple Wallet?
Unlike the Bitcoin wallet which users can avail for free, Ripple wallets require transferring XRPs from the trading platform to the wallet before a user can transact using an XRP wallet address.
So, Is eToro a Wallet?
No. eToro is an online brokerage service that offers a platform for investing on various financial markets and it has an additional feature called the eToro Wallet.
77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
People Who are Eligible to Use the Wallet
Users in eToro-eligible countries and territories who have a verified account can use the wallet service. However, please take note that eToro Money as a crypto wallet is only available in specific countries and not on all countries where the eToro online trading platform is supported.
The services offered by the eToro Money app may vary from one country to another depending on the local regulations and requirements. Some countries only allow the app to be used as a cryptocurrency wallet for storing, sending, and receiving digital assets, while in others, it only offers e-money services.
To find out which services are available in your country, it is recommended to consult the official eToro website or contact customer support. The table below provides a detailed table outlining the services available in each country where the app is supported.
| Service | Countries Supported |
|---|---|
| Crypto Wallet | Andorra, Argentina, Armenia, Australia, Austria, Azerbaijan, Bahrain, Belgium, Bermuda, Bolivia, Brazil, Bulgaria, Cameroon, Cayman Islands, Chile, China, Colombia, Croatia, Cyprus, Czech Republic, Denmark, Dominica, Dominican Republic, Ecuador, Faeroe Islands, Finland, Georgia, Germany, Gibraltar, Greece, Greenland, Guatemala, Guernsey, Hong Kong, Hungary, Iceland, India, Ireland, Isle Of Man, Israel, Italy, Jersey Island, Kazakhstan, Kenya, Kuwait, Latvia, Liechtenstein, Lithuania, Luxembourg, Macau, Malaysia, Maldives, Malta, Mexico, Monaco, Mongolia, Morocco, New Zealand, Northern Marianas, Norway, Oman, Peru, Philippines, Poland, Portugal, Romania, Saint Lucia, Saudi Arabia, Singapore, Slovakia, Slovenia, South Africa, South Korea, Spain, Sweden, Switzerland, Taiwan, Tanzania, Thailand, Ukraine, UAE, UK, Uruguay, USA, US Minor Islands, Vietnam, Virgin Islands |
| e-Money | Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, UK |
So, is your country supported by the eToro wallet service? If it is, you can open one right here!
77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
eToro Wallet Login
If you have an existing eToro account, the login details that you're using for the trading platform is the same login that you're going to use for the wallet so you just simply need to download the mobile app on your smartphone and you will be able to sign-in immediately.
Viewing the Wallet Transaction History
To view your eToro wallet transaction history, just click the "Transaction History" button and click on the crypto coin you want to view. Example "BTC", to load the full history of your eToro wallet transactions involving that coin.
Opening an Account
If you still don't have an eToro account and would like to avail their wallet feature then you can register from their official website or directly via the wallet app by clicking on the "Sign up" link.
Accomplish the form by providing a username, email address and password, and your acceptance of their terms and conditions, privacy policy and cookie policy. Alternatively, you may also register using your Facebook account, Google account or Apple ID.
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.