Can I Buy Bitcoin from eToro in Australia?

Written by Wikitoro Team

Fact checked by Nick Zelver

Updated Mar, 2024

Yes, if you are a resident of Australia, you can buy Bitcoin on eToro. To do so, you need to have a verified eToro account with sufficient funds. Once these conditions are met, you can proceed with purchasing BTC on the platform.

Bitcoin continues to be a trending topic in the financial markets, especially here in Australia. With the rising popularity of eToro, many Australians are curious if they can purchase Bitcoin through this platform. To address this query, I'll share my personal experience of buying BTC as an Australian resident using their app.

Check Your Account

Firstly, it's crucial to ensure that your eToro account falls under the jurisdiction of "eToro AUS Capital Limited," the local entity regulated by the Australian Securities and Investments Commission (ASIC). This ensures that your trading activities are in compliance with local regulations.

Verification and Funding

Next, account verification and funding are essential steps. Verification is mandatory immediately after opening an account on eToro. Once verified, you can deposit funds into your account, with a minimum requirement of $50. Remember, transactions on eToro are in USD, which is the platform's base currency.

Process of Buying BTC

Now, let's walk through the steps of purchasing Bitcoin on eToro:

1. I logged into my trading account (the process is identical on both the app and web versions).
2. In the search bar, I typed "BTC" or "Bitcoin."
3. I clicked on the "Trade" button next to the correct asset (BTC).
4. I entered the minimum investment amount, which is $10. This feature is particularly appealing as it allows for small-scale trading despite Bitcoin's high price.
5. After clicking the "Open Trade" button, my transaction was successful, and I purchased Bitcoin worth $10.

Key Takeaways

• Australians can buy Bitcoin on eToro, but their account must be under "eToro AUS Capital Limited" and regulated by ASIC.
• Account verification and funding are prerequisites for trading. The minimum deposit is $50 (USD not AUD).
• eToro allows for a minimum investment of $10 in Bitcoin, making it accessible even at higher Bitcoin prices.

This experience not only demonstrates the feasibility of purchasing Bitcoin for eToro Australia traders but also highlights the platform's user-friendly approach, making it a viable option for Australians interested in entering the cryptocurrency market.

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. 51% 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. Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

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.