eToro is a popular online trading platform that allows users to buy, sell, and trade various cryptocurrencies, including Bitcoin. Here’s a short but detailed guide on how to buy Bitcoin on eToro:
Step 1: Sign up for an eToro Account
Visit the eToro website and sign up for a new account by providing the required information. Complete the registration process, including verifying your email address.
Step 2: Complete the Account Verification
To comply with regulatory requirements, you’ll need to verify your identity on eToro. Follow the instructions provided on the platform to submit the necessary documents for verification, such as a valid government-issued ID and proof of address.
Step 3: Deposit Funds into Your eToro Account
Once your account is verified, you’ll need to deposit funds to start buying Bitcoin. Click on the “Deposit Funds” button and select your preferred payment method, such as bank transfer, credit/debit card, or e-wallet. Follow the prompts to complete the deposit process.
Step 4: Search for Bitcoin (BTC) on eToro
On the eToro trading platform, use the search bar to find “Bitcoin” or the BTC ticker symbol. Click on the Bitcoin listing to view its details and performance.
Step 5: Place a Buy Order
After selecting Bitcoin, you’ll be taken to the Bitcoin trading page. Click on the “Trade” or “Buy” button to initiate a buy order.
Step 6: Specify the Investment Amount
Enter the amount of Bitcoin you wish to purchase or the amount of funds you want to invest. eToro allows you to buy fractional amounts of Bitcoin, so you can invest as much or as little as you desire.
Step 7: Review and Confirm the Trade
Double-check the details of your trade, including the investment amount, fees, and any additional options. Take a moment to review everything before proceeding. If you’re satisfied, click on the “Open Trade” or “Buy” button to confirm the purchase.
Step 8: Monitor Your Bitcoin Holdings
Once your buy order is executed, you’ll be able to see your Bitcoin holdings in your eToro portfolio. You can track the performance of your investment and sell your Bitcoin whenever you decide.
Important Considerations:
– eToro charges fees for trades and transactions, so be sure to review and understand the fee structure on the platform.
– Cryptocurrency investments, including Bitcoin, can be highly volatile and carry risks. It’s essential to do your own research and understand the potential risks involved.
– Consider utilizing eToro’s additional features like stop-loss orders or take-profit orders to manage your Bitcoin investment effectively if you plan on trading derivatives and other similar options.
Conclusion:
Buying Bitcoin on eToro is a straightforward process. Following this short guide, you can learn how to buy bitcoin on eToro step by step, sign up for an account, deposit funds, search for Bitcoin, and place a buy order. Remember to conduct your own research, be aware of the risks associated with cryptocurrency investments, and make informed decisions based on your investment goals and risk tolerance.
Binance CEO Changpeng Zhao believes that the next bull run will begin in 2025
His claims come at a time when Bitcoin price hit its highest point in 2023
Binance CEO Changpeng Zhao delivered his forecast for the market performance during a Twitter Space on July 5, explaining that the next crypto bull run will be seen in 2025.
Crypto’s 4-year cycles to repeat itself: Binance CEO Changpeng Zhao
Historical bitcoin bull run trigger, halving cycle is not in line with the global financial markets outlook this time. It is set to be carried out 296 days from now. However, the global financial outlook could be more friendly as most countries are dealing with rising living costs.
“The year after Bitcoin halving is usually the bull year.“ he said
However, the next halving happens in 2024, meaning the markets would rise from then, climaxing in 2025 if all other factors remain constant. Remember that nothing is promised, and the market prospects could change. Keep watching Fintech Express for more updates on this and other fintech-related developments.
Bitcoin has set a new high in 2023 after breaching the $31,450 mark
The bitcoin price is rallying as the market moves closer to the 2024 bitcoin halving cycle
Bitcoin price rallied to the highest point on July 6, 2023, as the market approaches the eagerly awaited Bitcoin halving period in 2024. It has been noticed that as Bitcoin gains more security from the halving periods, more market buy pressure is seen, which increases the price.
All eyes on the Bitcoin price as buy momentum builds
Bitcoin halving increases the network’s security by raising the hashing rate, which cuts mining rewards by half. It’s a cycle that happens every four years in the Bitcoin community and is always seen as bullish.
Bitcoin price has been rising in tandem with the occurrence of halving sessions. A mild bull run begins every year before a halving occurs, with it becoming stronger post the halving session. On July 6, 2023, Bitcoin price rose to a record high for the year as the days left to the next halving dropped below 300 to 296.
This momentum is expected to sustain or increase slightly over the remaining months of the year as long as other factors like regulation and macro-finance stay stable. However, there are no promises on whether the market will repeat history or create a divergent course. Therefore it’s advisable to keep researching and learning more about the market to make more informed and riskless decisions.
Crypto hacking spree continues as developers lack proper solutions to track looters as $300 M is stolen in Q2 2023
Year-over-year losses to crypto hacks have dropped by 58%
Crypto hacks have persisted into 2023 though a noticeable drop of 58% YoY has occurred. A report by Certik, however, shows that $300 million was stolen from the industry in Q2 2023.
Crypto hacks are reducing, but it’s not time to celebrate yet
Th report by Certik shows that between April and July 2023, a total of $100 million was being siphoned out of the crypto industry by hackers each month. The whole amount was siphoned in 212 security breach occasions.
Certik also noted that this time the amount stolen in the year is much lower than 2022’s $745 million in the same period, a 58% decline. However, this drop in total losses came with new developments. The amount lost in scams rose to around $70 million in the period, a more than 50% increase from Q1 2023, which recorded a loss of $31 million.
Certik also recorded an increasingly concerning rise in losses across BNB Chain ecosystems. BNB Chain had a rough 2022 after a bridge was hacked, almost losing half a billion dollars. The new report shows that it recorded the largest incidents with 119 ($70.7 million), while Ethereum came second with 55 incidents ($65 million).
Keep watching Fintech Express for more updates on crypto and other fintech-related developments.
DFSA has asked Saxo Bank to liquidate its crypto holdings citing risky investment
The process is expected to have a “very limited impact” on the bank’s functionality.
Denmark has asked one of its largest banks, Saxo Bank, to erase its cryptocurrency holdings as a de-risking effort. It expects the bank not to be impacted in any way while closing its crypto market positions.
No more crypto investments Saxo Bank: Denmark
The developments come at a time when regulators in Denmark seek to go after crypto services providers citing investment risks. It has declared that all local banks cannot hold any crypto assets to hedge against trading risks.
The Danish Financial Supervisory Authority (DFSA) announced on July 4 orders for Saxo Bank to dispose of its crypto holdings under claims that such assets lie outside the legal business of financial institutions in Denmark per section 24 of Denmark’s Financial Business Act.
DFSA explained that Saxo Bank has exposed itself and its customers to trading risks by bridging them to the crypto markets. It also said that apart from direct crypto assets, exchange-traded funds and exchange-traded notes tied to crypto assets should be included in the disposal list as it is possible to speculate on the crypto market.
The regulator also cited Annex 1 of the Financial Business Act, saying that financial institutions should not publicly trade crypto assets in the country. An excerpt from the announcement reads:
“Based on the above, Saxo Bank’s trading in crypto assets for its account is outside the legal business area of financial institutions. On this basis, Saxo Bank is ordered to dispose of its holdings of crypto assets.”
The regulator also mentioned the preparedness of Denmark to onboard European Union’s Markets in Crypto Assets (MiCA) legislation saying that they will hit the set dates to effect it in 2024. MiCA is expected to be enforced in all EU member states starting December 2024 after the bloc’s parliament passed it in June. However, more steps will be required between now and its enforced date.
So keep watching Fintech Express for more updates on this and other fintech-related developments.
